Forex Daily Forecast, Analysis and Prediction

Gold prices fell $4.06 on Tuesday, extending their losses to a second straight session, as investors grew more confident that the Federal Reserve could raise interest rates as early as this month.

Gold markets have been very strong for some time now, but are starting to run into a little bit of trouble at the 61.8% Fibonacci retracement level.

The GBP/JPY pair has been very volatile during February, but quite frankly I think the Forex markets in general have been choppy.

The AUD/USD pair has been struggling as of late, mainly because we have been a bit overextended.

The British pound has been an interesting currency to follow, because there are so many moving pieces at one time.

The USD/CAD pair ended up rather tight during most of the month of February, as the markets have been stuck in a very short range.

Get the NZD/USD Forex signal for February 28, 2017 here.

Get the AUD/USD Forex signal for February 28, 2017 here.

Get the USD/JPY Forex signal for February 28, 2017 here.

Gold markets had a choppy session on Monday, as we broke above the $1260 level initially, but turned around to form a shooting star.

The EUR/USD pair rallied at the open on Monday, but started to run into a significant resistance at the 50-day exponential moving average.

The WTI Crude Oil market initially tried to rally on Monday but failed again. The natural gas markets gapped lower at the open on Monday, as we continue to see bearish pressure in this market.

The S&P 500 had a slightly positive session on Monday, as we continue to see bullish pressure in the US indices.

The USD/JPY pair rallied during the day on Monday, bouncing off the 112 level. The AUD/USD pair went back and forth during the session on Monday as volatility returned to the market.

Get the USD/CAD Forex signal for February 28, 2017 here.