Forex Daily Forecast, Analysis and Prediction

Get the EUR/USD Forex signal for August 1, 2016 here.

The EUR/USD pair had a very strong session on Friday, as we continue to see quite a bit of bullish pressure. The GBP/USD pair initially tried to rally during the day, but did get back over half of the gains.

The S&P 500 initially fell during the day on Friday, but just as we have seen all week, market turned right back around and gained enough to form a nice-looking hammer. The NASDAQ 100 initially fell during the course of the day on Friday as well, but just like we did in the S&P 500, the NASDAQ 100 rallied enough to form a nice-looking hammer.

The WTI Crude Oil market initially fell during the day on Friday, but turned around to bounce and form a slightly positive candle. The natural gas markets rallied during the day on Friday, but turned right back around to form a shooting star.

The US dollar initially rallied against the Japanese yen but found so much pressure above the 105 level that we just rolled right over. The Australian dollar initially dipped but ended up finding quite a bit of support at the 0.75 handle.

Gold prices settled at $1350.77 an ounce on Friday, rising 2.1% on the week and 2.2% over the month.

The Euro rose during the course of the final week of August, but I cannot help but notice that on the shorter-term charts it appears that the market is trying to roll over a little bit.

The New Zealand dollar has had quite a bit of volatility in it over the last several weeks, and as we approached the 0.73 level, it turned the market back around.

The British pound has been the epicenter of attention by Forex traders for quite some time now, certainly since the British voted to leave the European Union.

The USD/JPY pair fell during the last week of August, but found quite a bit of buying pressure just below the 105 level.

The USD/CAD pair has been grinding higher for some time now, and as a result I think we are eventually going to try to break out to the upside. Get the monthly forecast for August 2016 here.

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 1, 2016 here.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 1, 2016.

End the month of July 2016 with the forecast featuring some of the major Forex currency pairs here.

Silver markets continue to look as if they are one of the more interesting markets right now, and during the day on Thursday we tried to break out above the $20.50 handle, which was the top of the recent consolidation area.