Forex Daily Forecast, Analysis and Prediction

The NZD/CAD pair initially broke above the 0.90 handle during the session on Tuesday, but not significantly enough to keep those gains and it ended up turning around in forming a fairly bearish candle.

The EUR/NZD pair fell during the session on Tuesday, slamming into the 1.59 level. With that, it appears that the market is testing a large support region that could influence the longer-term move of this marketplace.

Get the USD/JPY Forex signal for October 22, 2014 here.

Check out the EUR/USD Forex signal for October 22, 2014 here.

Get the signal trading updates from the month of September 2014 here.

International Business Machines Corp. (NYSE:IBM) was one of the biggest decliners in trade yesterday on the back of a dismal set of quarterly numbers reported by the company.

Get the USD/JPY Forex signal for October 21, 2014 here.

Get the EUR/USD Forex signal for October 21, 2014 here.

The WTI Crude Oil market continues to grind away as the Monday session offered a bit of support, but it is still within the realm of consolidation.

The EUR/USD pair bounced a bit during the session on Monday, testing the 1.28 handle again.

The USD/JPY pair gapped higher at the open on Monday, and then turned back around to fill that very gap. This is classic technical analysis, and normally means that we are continuing to go higher.

News emerged over the weekend that Bitcoin exchanges would now allow trading in other currencies, which would help in provide it with higher liquidity and more credibility, while providing entry for a new slew of traders.

According to the analyses of the AUD/USD and USD/JPY pairs, trader profited on a binary options platform. See how here for October 20, 2014.

The WTI Crude Oil markets have been ruthlessly sold off over the last couple of months. That in itself isn’t anything new or newsworthy, but the fact that the bounce could produce anything close to an extended gain shows just how much trouble there is in the oil market.

The EUR/USD pair has recently tried to gain strength after falling all the way down to the 1.25 handle. However, the market could not keep any of the gains above the one point to a level, and for me that is very important as I have identified the 1.28 level as the beginning of a significant amount of resistance that extends all the way up to the 1.30 handle.