Forex Daily Forecast, Analysis and Prediction

Get our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for this week of August 14, 2016 here.

There will be a much heavier news schedule this week compared to last week, which includes crucial central bank input from the Federal Reserve concerning the U.S. Dollar (the monthly FOMC statement), as well as a key U.S. data tranche. The Reserve Bank of Australia will also be releasing its Monetary Policy Meeting Minutes.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 14, 2016.

The WTI Crude Oil market had an explosive session during the day on Thursday, flying in the face of the resistance that we’ve seen recently. Natural gas markets fell significantly during the course of the day, but found support near the $2.50 level, an area that has been supportive in the past and I see as the signal that we’re changing trends to the downside for the longer term.

The S&P 500 broke higher during the course of the session on Thursday, but as you can see we are still just below the top of the couple of shooting stars. The NASDAQ 100 tried to rally during the course of the day on Thursday, and it keep some of the gains but as you can see the 4800 level above has offered quite a bit of resistance.

The USD/JPY pair had a slightly positive session during the day on Thursday, but at this point in time I believe that the real story is going to be closer to the 100 level. The AUD/USD pair initially fell during the course of the day, but as you can see the 0.7675 level has offered quite a bit of support.

The Euro initially fell during the course of the day on Thursday, but as you can see bounced significantly in order to form a bit of a hammer. The British pound fell again during the day on Thursday, as we continue to chip away at the massive amount of support near the 1.30.

Gold prices dropped $7.61 an ounce yesterday, giving up all of the gains made in the previous session, as gains in the dollar dimmed the precious metal's appeal.

Get the NZD/USD Forex signal for August 11, 2016 here.

Get the AUD/USD Forex signal for August 11, 2016 here.

Get the USD/JPY Forex signal for August 11, 2016 here.

Get the USD/CAD Forex signal for August 11, 2016 here.

Get the USD/CHF Forex signal for August 11, 2016 here.

Get the GBP/USD Forex signal for August 11, 2016 here.

Get the EUR/USD Forex signal for August 11, 2016 here.