Forex Daily Forecast, Analysis and Prediction

Get the EUR/USD Forex signal for December 29, 2014 here.

The EUR/USD pair fell during the session on Friday as per usual, but as you can see did and make a fresh, new low.

The Singapore dollar is one of my favorite currencies to use in order to play off of Asian strength or weakness. Also, it can be used in general to play the developing world as Singaporean banks tend to be where emerging markets go in Asia to find funding.

The AUD/CHF pair is one that follows overall risk appetite typically, and as a result will fall as people get a little bit concerned.

The GBP/USD pair fell slightly during the session on Friday, as we continue to test the 1.55 level for support.

The EUR/JPY pair has been in a significant uptrend for some time now. While that in itself is a necessarily news, I recognize that there is a significant amount of support below, and I think it’s only a matter time before the buyers step in.

Gold had ended 2013 at $1206.80 per ounce and as you can see, today we are almost at the same level where we were one year ago.

Get the Forex forecast learning about quant vs chart reading for the week of December 28, 2014 here.

Get the Forex forecast for the end of December 2014 here.

The GBP/AUD pair broke higher during the course of the month of December, clearing the 1.90 level with significance. That being the case, it appears that the pair is ready to continue going higher as we have recently broken out of significant consolidation.

The USD/CAD pair has had a nice run over the last couple of years to the upside. I think this will continue find I believe that the 1.18 level will be extraordinarily resistive based upon previous action in both 2008, and 2006.

The GBP/USD pair has had a very negative run for a couple of months now, and as a result I believe that the bearish pressure will continue. As I write this article, the 1.55 level is being tested for support, and it could very well offer a significant amount of buying pressure.

The USD/JPY pair has been very parabolic over the last several months, going all the way back to the beginning part of 2012.

Gold has been on the back foot since the bears defeated the bulls on the 1235/40 battlefield.

The EUR/USD pair rose during the course of the day on Wednesday, but as you can see struggled above the 1.22 handle, and ended up falling to form a shooting star. The shooting star of course suggests that the sellers are going to come back in and push this market lower.