Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair initially tried to rally during the session on Tuesday, but as you can see we found trouble just above the 1.32 handle, which of course was where the market gapped from at the open on Monday.

The USD/NOK pair fell during the course of the day on Tuesday, but found support in the form of the gap that we started the week out with on Monday. We ended up forming a hammer, and that of course is a very positive sign.

The EUR/CAD pair is one that I have been following closely for some time now. We have broken down a bit, and we even broke below the bottom of the previous days hammer on Tuesday.

The AUD/JPY pair rose during the course of the day on Tuesday, and even broke above the 97 level again, as it did on Monday as well. The market certainly looks bullish, and we should see continued buying pressure in my opinion.

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Get the EUR/USD Forex signal for August 26, 2014 here.

The XAU/USD pair had a relatively tight range yesterday as investors try to digest last week's downswing. Diminishing geopolitical concerns and speculations that the Federal Reserve is leaning toward raising interest rates caused investors’ confidence in gold to erode.

The WTI Crude Oil markets gapped lower at the open on Monday, and then turned around to try to break to the upside. However, we found enough resistance at the $94.00 level in order to turn things back around and form a shooting star.

The EUR/USD pair gapped lower at the open on Monday, and then essentially did nothing. That being the case, it appears that the Euro is going to continue falling in general, and as a result I feel that the market can only be sold at this point.

The EUR/GBP pair gapped lower at the open on Monday, and tested the 0.7950 level. With that, I feel that this market should continue the downtrend that we have seen, as we have had a decent bounce so far over the last couple of weeks.

The USD/JPY pair gapped higher at the open on Monday, as the US dollar continues to be one of the more favored currencies out there. That being the case though, the market then spent the rest of the day falling backwards to find support.

The EUR/CAD pair initially fell during the course of the day on Monday, just as the Euro lost against almost all currencies. However, the Canadian dollar is a little bit of an outlier when it comes to currencies at the moment as it has been weaker than most.

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