Forex Daily Forecast, Analysis and Prediction

The NZD/USD pair initially fell during the course of the day on Monday, but as you can see the 0.85 level data in fact offer a bit of support.

Bitcoin looks set to mark the third consecutive weekly loss. During the course of the week, the digital currency took support from the fundamental and technical support region of 540-550 and bounced from the oversold level of 555.90 to a high of 607.20.

The Euro got a bit of a reprieve on Friday after a somewhat disappointing nonfarm payrolls number out of United States. During the month of July, the United States added about 25,000 less jobs than anticipated, therefore the US dollar sold off a little bit.

The GBP/JPY pair fell rather harsh during the session on Friday as the British pound got hammered against most currencies around the world. However, we are most certainly sitting on significant support them through 176.50 region, so therefore I feel that this market could get a bit of about.

The GBP/USD pair fell again during the Friday session, as we had more of a “risk off” move in the markets in general.

The TRY/JPY pair had a rather back-and-forth session on Friday, officially widening the range but hanging around the 48 handle still. This was an area that had previously been resistance so I do like it for support, but is within a larger consolidation area that I believe makes more sense and quite frankly is more important.

The major event of the last trading day of the week was the release of non-farm payrolls data. Although the XAU/USD (Gold vs. the American dollar) pair fell for most of the week, it erased some of earlier losses during the Friday session after July payrolls growth came in short of expectations.

The WTI Crude Oil markets fell again during the session on Thursday, as we continue to plow lower. You can see that we have a significant amount of bearishness in the market all of a sudden, and the fact that we are testing the $97 level of course does concern me as I see it a major support level.

The EUR/USD pair fell during the course of the day on Thursday, but as you can see found enough support at the 1.3375 level to turn things back around, and form a hammer.

Get the gold price forecast for the month of August 2014 here.

The EUR/USD pair finally broke down below the 1.35 handle during the month of July, which is an area that has been massively supportive or several months. Get the August 2014 forecast here.

The EUR/GBP pair has been falling for some time, and the month of July certainly wasn’t any different. However, I think that August might bring a little bit of a reprieve, based upon the weekly candle that had at the end of July.

The AUD/USD pair has tried it again and again to break above the 0.95 handle, and I think that is what is going to be crucial for the upcoming month. If we can get above there, as he the reason to think that this market will head to the 0.97 level.

The USD/CAD pair has bounced off of an uptrend line during the month of July, at a particularly important spot on the chart. Get the forecast for August 2014 here.

The GBP/CHF pair has been on an absolute rocket ride higher for several months now. I do think that August might be a bit different though. We are most certainly reaching a much overextended market at this point, as the 1.55 level was previous highs during the month of June 2012.