Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair has recently fallen in response to the European Central Bank suggesting further stimulus could be coming. This being the case, at the time of writing we are testing the bottom of a potential ascending triangle.

The USD/NOK pair continues to show real strength overall, as we are reaching towards the highs again at the 80.57 region. Get the November 2015 forecast for the USD/NOK pair here.

The GBP/AUD pair had a very volatile October, essentially ending where we started though. With that being the case, the market looks as if it is ready to go higher given enough time and we do have a very strong trend line well below current trading.

The USD/JPY pair did almost nothing during the month of October, as we continue to be attracted to the 120 handle. Get our November 2015 monthly forecast for the USD/JPY pair here.

The USD/CAD pair has had a relatively volatile October, reaching all the way down towards the 1.28 handle. With this, it appears that the market has pulled back just a bit in order to find support.

During the session on Thursday, the EUR/USD pair bounced enough to show that there is indeed support at the uptrend line that had continued to push this market higher and form an ascending triangle on the longer-term charts.

The EUR/GBP pair tried to rally initially during the course of the session on Thursday, but struggled at the 0.72 level and fell far enough to form a bit of a shooting star.

The USD/JPY pair broke higher during the session again on Thursday, as we regained all the area that we pulled back from during the rally on Wednesday.

Looking at the EUR/CAD pair, you can see that we tried to rally during the course of the session on Thursday, but struggled at the 1.45 level which of course is a large, round, psychologically significant number.

Looking at the WTI Crude Oil market, you can see that we went back and forth during the course of the session on Thursday. This was preceded by a massively bullish candle on Wednesday, and a hammer on Tuesday.

Gold prices hit their lowest level since October 9 yesterday as investors continued to price in the increasing likelihood of a rate rise from the Federal Reserve as early as December.

Get the NZD/USD Forex signal for October 29, 2015 here.

Get the AUD/USD Forex signal for October 29, 2015 here.

Get the USD/JPY Forex signal for October 29, 2015 here.

Get the USD/CAD Forex signal for October 29 2015 here.