Forex Daily Forecast, Analysis and Prediction

The EUR/JPY pair did almost nothing during the session on Friday, but this would have been much of a surprise considering that it was the Good Friday holiday.

The GBP/CHF pair has been rallying lately, but as you can see stalled during the Thursday session as we formed a long legged doji. This neutral candle signifies that we are starting to lose a little bit of momentum, and on top of that, it is the same area that the last pullback sent us plunging down towards the 1.3950 level.

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The XAU/USD pair (Gold vs. the American dollar) closed lower than opening yesterday as the bears managed to defend the 1608 level. The pair has been range bound lately and it seems that easing concerns over the Eurozone and weakening demand work against gold at the moment.

The WTI Crude market initially fell during the session on Thursday, but as you can see we bounced from the lows of the session just above the $96.00 level, and closed at the $97.25 level to form a hammer like candle.

The EUR/USD pair had a positive session on Thursday, bouncing off of the 1.2750 level and going above the 1.28 level later in the day. This would've been a reaction to the fact that Cypriot banks managed to open during the session without much in the way of a bank run.

The EUR/JPY pair spent most of the session on Thursday following, but as you can see found quite a bit of support at the 120 handle. This is an area that I've been wanting for quite some time, and it makes sense that we got a bit of a bounce from it.

The AUD/USD pair fell during the session on Thursday, testing the 1.04 level as support. So far, it has held but it should be said that we are closing just above it. The area just below the 1.04 level does look rather congested though, and as a result I believe that we will see supportive action.

According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.

WTI price is interesting today because yesterday managed to close right in the middle of the "noise" going all the way up to the $98.00 level.

We'll see continued weakness in the Euro, and a bounce soon, so we plan to sell rallies. Get the full analysis here.

As long as the gold markets hold steady above the $1600 area, we should see a continued strengthening Australian dollar.

All the way down to the 90 handle we should see significant support, so we're buying pullbacks - see why here.

XAU/USD found support around the 1591 support level and turned north after two voting members of the Federal Open Market Committee said the central bank should continue its large-scale asset purchases through the end of 2013.

Gold prices settled lower yesterday, extending losses to third straight session, as the mild disappointments in U.S. data failed to have a lasting impact on the greenback. The Conference Board’s consumer confidence and Commerce Department's new home sales data were weak but were more or less in line with market expectations.