Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair rose during the course of the session on Tuesday, breaking above the 120 level at one point in time.

The GBP/USD pair rose during the course of the session on Tuesday, breaking towards the 1.54 level. This is an area that has been supportive in the past, so it should now start to offer resistance.

The USD/CAD pair fell during the course of the day on Tuesday, testing the 1.32 level.

Gold prices edged slightly higher on Tuesday, snapping a four-day losing streak, as a retreat in the dollar sparked some short-side profit taking.

The EUR/USD pair initially fell during the course of the day on Monday, but keep in mind that it was Labor Day in the United States. This of course meant that most of the trading was done early in the day, and that the American simply did not have anything to say about the marketplace.

The USD/CAD pair initially tried to fall during the session on Monday, and what would’ve been very illiquid trading.

The USD/MXN pair rose during the session on Monday, as the markets continue to favor the US dollar in general.

The GBP/USD pair bounced during the session on Monday, using the 1.52 level as a bit of a springboard.

Gold started the week off on a sour note, extending its losses to a fourth straight session and hitting its lowest levels since August 18, as uncertainty about when the U.S. Federal Reserve may hike interest rates continued to weigh on the market.

Start the new month of September 2015 with the weekly Forex forecast for major pairs here.

The EUR/USD pair went back and forth during the course of the day Friday in reaction to the Nonfarm Payroll Numbers. With that being the case, the market looks like it is respecting the 1.11 level for support, but there is a significant amount of resistance above at the 1.13 handle.

Looking at the USD/CAD pair, you can see that we fell initially during the course of the session on Friday, testing the 1.31 handle.

The AUD/USD pair initially tried to rally during the session on Friday, but failed at the 0.70 level as it showed significant signs of resistance.

The EUR/JPY pair initially fell during the session on Friday in reaction to the jobs number, which of course missed in the United States.

Gold prices ended the week down nearly 1% as increasing demand for the American dollar curbed the metal's appeal as an alternative investment.