Forex Daily Forecast, Analysis and Prediction

According to the analysis of the GBP/USD and AUD/USD trader profited on a binary options platform.

Gold prices fell hard yesterday after media reports that President Barack Obama made a new offer to House of Representatives Speaker John Boehner to avoid a U.S. fiscal cliff of spending cuts and tax rises in January.

The EUR/USD pair had a strong showing on Tuesday as the 1.3150 level now looks to act as support. Although I have been bearish of the Euro recently, and therefore not involved in this pair, I still believe that there could be a serious problem facing Europe soon.

The GBP/USD pair shot straight up during the session on Tuesday to continue the bullishness that we've seen since the middle of November. I would remind you that the pair had initially broken out of an ascending triangle over the summer that had resistance at the 1.58 level as the site of the original breakout.

The AUD/USD pair fell during the session on Tuesday as the pair continued to consolidate between the 1.05 and 1.06 levels. This market is very risk sensitive, and because of this it will be liable to react to headlines crossing the wires.

The USD/JPY has reached higher than the resistance level of 84.00 and is trading at 84.31 with about 2 hours left before the London open.

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According to the analysis of the EUR/USD and USD/CAD trader profited on a binary options platform.

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After establishing a new high for 2012 by 4.2 pips, the NZD/USD printed what is known as an 'Inside Bar' yesterday without making a new high, or breaking last Friday's low either.

XAU/USD bounced off of the 1686.40 level and printed a hammer on the daily chart. This level converges with the bottom line of a giant triangle which the pair has been forming since October.

The EUR/USD pair did very little during the session on Monday, but we should note that it has indeed broken out above the 1.3150 level, and this makes sense that we could see a larger move higher.

The EUR/JPY pair initially gapped as the markets opened for trading in Asia on Monday. Ironically, the highs for the session were put in just a few moments afterwards.

The USD/CAD pair initially tried to rally for the Monday session, but was left wanting as the 0.99 resistance level continues to be a bit too much for the buyers. Looking forward, this pair will be an interesting one follow because it is probably the one that is most likely affected by the so-called "fiscal cliff” talks in the United States.

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