Forex Daily Forecast, Analysis and Prediction

Get the USD/CHF Forex signal for August 4, 2015 here.

Get the GBP/USD Forex signal for August 4, 2015 here.

Get the EUR/USD Forex signal for August 4, 2015 here.

The gold market started the month on the back foot, reflecting sustained pressure on prices, as the conditions in the marketplace gave investors few reasons to invest in the precious metal.

Get the USD/CHF Forex signal for August 3, 2015 here.

Get the GBP/USD Forex signal for August 3, 2015 here.

Check out the EUR/USD Forex signal for August 3, 2015 here.

The EUR/USD pair initially tried to rally during the course of the session on Friday, but as you can see struggled as the 1.11 level offered far too much resistance. By doing so, the market looks as if the sellers took control late in the day, as the market pushed below the 1.10 handle.

The GBP/CAD pair rose during the session on Friday, breaking out above the recent consolidation barrier. Because of this, it now appears that the market is ready to go to the 2.05 level, which of course is more than obviously a large, round, psychologically significant number for the markets to focus on.

Gold prices ended the month down roughly 6.7% at approximately $1095 an ounce, weighed by speculations that the U.S. Federal Reserve adopts a gradual pace of tightening this year.

Check out the Forex forecast using quant vs. chart reading analysis for the week of August 3, 2015 here.

Get the weekly Forex forecast for the major currency pairs for the week of August 3, 2015 here.

The EUR/USD pair initially broke higher during the course of the last week of July, but as we have seen time and time again, the pair seems to be stuck between the 1.08 level on the bottom, and the 1.12 level on the top.

The USD/CAD pair fell during the last week of July, but as you can see we found plenty of support at the 1.28 level. In fact, that was probably the most important thing to happen during the course of the month, breaking above the 1.28 handle.

The USD/JPY pair had a slightly positive week for the last week of July, but as you can see we basically have been to change the attitude of this pair much. Even though it’s been very volatile, you can actually make an argument for an upward channel that we have been obeying.