Forex Daily Forecast, Analysis and Prediction

Check out the weekly Forex forecast for some of the major pairs for the week of September 7, 2014 here.

The XAU/USD pair closed lower than opening on Thursday as strength in the American dollar helped draw investors away from the precious metal.

The WTI Crude Oil markets fell during the session on Thursday, as the US dollar continued to improve its value. With the ECB cutting interest rates, the US dollar of course expanded in value, and as a result of the oil markets fell as it took less of those dollars to buy the commodity.

The EUR/USD pair fell hard during the course of the day on Thursday, with the European Central Bank surprising the market with a completely unexpected interest-rate cut. With that, the value the Euro was pummeled against most currencies, with the dollar being especially interesting as the Federal Reserve is looking to tighten its monetary policy.

Get the bitcoin forecast for September 4, 2014 here.

Get the USD/JPY Forex signal for September 4, 2014 here.

Get the GBP/USD Forex signal for September 4, 2014 here.

Check out the EUR/USD Forex signal for September 4, 2014 here.

The XAU/USD pair (Gold vs. the American dollar) settled higher yesterday, marking the first rise in four trading sessions, as caution set in ahead of high impact economic data releases and central bank policy meetings.

The WTI Crude Oil market rose during the course of the day on Wednesday, and even challenged $96.00 handle. It’s above there that we would see a significant amount of buying pressure reenter the market, and perhaps try this market as high as $98.50.

The EUR/USD pair broke higher during the session on Wednesday, but as you can see gave back about half of the gains. We did form a hammer during the Tuesday session though, so it’s not a huge surprise that we got a little bit of support.

The EUR/GBP pair rose during the course of the day on Wednesday, but as you can see found a bit of resistance at the 0.80 level. However, there is still significant resistance above, and I do not think that this market breaks out to the upside until we get above the 0.8035 handle.

The USD/NOK pair rose during the course of the day on Wednesday, breaking the top of the shooting star from the Tuesday session, and going above the 6.20000 level. Because of this, the market should continue to go higher as the trend line certainly has been holding onto the uptrend.

The USD/JPY pair fell during the session on Wednesday, breaking back below the 105 level. This being the case, it appears that the market will have to pullback in order to find some type of supportive action in order to go long.

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