Forex Daily Forecast, Analysis and Prediction

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.

The EUR/USD pair initially tried to rally during the course of the day on Thursday, but as you can see turned right back around for a bit of a shooting star. The GBP/USD pair initially fell during the day but it did bounce towards the end and it showed a little bit of resiliency.

The WTI Crude Oil market initially tried to rally during the course of the session on Thursday, and then fell rather significantly towards the $41 level. The natural gas markets exploded to the upside during the course of the day on Thursday, breaking well above the $2.75 handle.

The US dollar initially fell against the Japanese yen during the day on Thursday but we bounced back above the 105 level. Originally during the Thursday session, the Australian dollar rallied. However, we turn right back around to form a bit of a shooting star, which sits right on the 0.75 handle.

The S&P 500 initially fell during the course of the session on Thursday, but we turned back around to form a hammer. The NASDAQ 100 initially fell during the day on Thursday, but turn right back around and formed a hammer.

Gold eased on Thursday as investors cashed in some of the previous day's 1.4% gains, though expectations that the Federal Reserve is not gearing up to raise interest rates anytime soon served to keep prices above $1334 an ounce.

Get the NZD/USD Forex signal for July 28, 2016 here.

Get the AUD/USD Forex signal for July 28, 2016 here.

Get the USD/JPY Forex signal for July 28, 2016 here.