Forex Daily Forecast, Analysis and Prediction

Gold prices dropped $6.75 an ounce yesterday, give back all of the gains made in the previous session, as a bounce in the dollar drew investors away from the precious metal.

Check out the USD/CHF Forex signal for July 22, 2015 here.

Check out the GBP/USD Forex signal for July 22, 2015 here.

Check out the EUR/USD Forex signal for July 22, 2015 here.

The NZD/JPY pair initially tried to rally during the course of the session on Tuesday, but as you can see we pulled back and gave quite a bit of the gains back after seeing the 82.50 level too strong as far as resistance is concerned.

The USD/MXN pair initially fell during the course of the session on Tuesday, but as you can see bounced enough to form a bit of a hammer. Interestingly enough, this hammer sits on top of the up trending channel that we have been involved in for some time, and it now appears that we are breaking out to the upside.

The AUD/USD pair initially fell during the course of the session on Tuesday, but found enough support to turn things back around to climb much higher. By doing so, we reach towards the 0.7450 level, which of course is a harbinger for the 0.75 level which we find as so much more resistive.

The GBP/USD pair went back and forth during the course of the session on Tuesday, as we continue to flutter right above the 1.55 level, an area that we see support at time and time again.

The AUD/CHF pair is one of my favorite pairs when it comes to trading the macro environment around the world. Quite frankly, the Australian dollar is considered to be one of the “riskier” currencies around the world, while of course the Swiss franc is considered to be a “safety currency.”

The USD/THB pair pulled back during the session on Tuesday, offering a bit of value in the greenback as far as I can see. I recognize that most of you probably don’t pay too much attention to the Thai baht, but quite frankly it is an excellent way to play of emerging Asia.

Gold closed up 0.3% at $1100,81 an ounce yesterday, after plunging to the lowest level in five years on Monday, as the dollar took a breather from its recent rally.

Gold prices ended yesterday's session down 3.34% after a breach of the key support level at $1130 triggered a sell-off. The XAU/USD pair slumped to $1076.98, the lowest price since mid-February 2010, pretty quickly before climbing back above the $1100 level.

Check out the AUD/USD Forex signal for July 21, 2015 here.

Check out the NZD/USD Forex signal for July 21, 2015 here.

Check out the USD/JPY Forex signal for July 21, 2015 here.