Forex Daily Forecast, Analysis and Prediction

Gold resumed its rise on Tuesday, after taking a breather on Monday, as weakness in the dollar bolstered demand for the precious metal.

Get the NZD/USD Forex signal for October 6, 2015 here.

Get the AUD/USD Forex signal for October 6, 2015 here.

Get the USD/JPY Forex signal for October 6, 2015 here.

Get the USD/CHF Forex signal for October 6, 2015 here.

Get the GBP/USD Forex signal for October 6, 2015 here.

Get the EUR/USD Forex signal for October 6, 2015 here.

Gold prices ended Monday's session down $2.09 as investors took profits from a rally spurred by dreadful U.S. jobs data that pushed back expectations of an interest rate hike by the Federal Reserve to early 2016.

The EUR/USD pair initially tried to rally during the course of the day on Monday, but failed at the 1.13 level yet again. This just confirms what I have thought for some time, but this market really doesn’t know where to go yet.

The NZD/USD pair rallied initially during the course of the session on Monday, breaking above the 0.65 handle. This is an area that I have seen as resistance recently, as we pulled back every time we got near it.

The USD/JPY pair rose during the course of the session on Monday, using the 120 level as a bit of a springboard. With that, it looks like the market is favoring the upside in general, and that every time we pullback we should continue to have buyers step into this market.

The EUR/GBP pair tried to break higher during the course of the day on Monday, clearing the 0.74 level at one point in time.

The EUR/USD pair rose initially during the course of the session on Friday in reaction to the Nonfarm Payroll numbers, as the numbers missed significantly.

Gold prices rose 2.25% on Friday, posting the first gain in five sessions, and settled at $1139.59 an ounce as U.S. jobs data fell short of market forecasts.

Get the weekly Forex forecast for the week of October 5, 2015 here using quant vs. chart reading analysis.