Forex Daily Forecast, Analysis and Prediction

Gold prices jumped more than 2% on Friday to settle at their highest level in two weeks as weakness in the U.S. dollar spurred demand for the precious metal.

The EUR/USD pair bounced off of the 1.24 level during the session on Friday in order to show a significant amount of strength. We managed to close above the 1.25 level for the session, so that does mean that the buyers could take control for a moment.

The GBP/CHF pair fell fairly significantly during the session on Friday for the third session in a row. Because of this, it appears of the market is continuing to break down a little bit from here, but ultimately the 1.50 level below should be rather supportive.

Get the Forex forecast for some of the major currency pairs for the week of November 17, 2014 here.

Gold prices ended Thursday nearly unchanged as the bulls and bears struggle for near-term control, with neither gaining an edge.

The EUR/USD pair continues to test the 1.25 level for resistance. That area of course has been very firm and I don’t expect it to change anytime soon.

The USD/JPY pair found support at the 115 handle yet again, as the market continues to show bullish behavior.

The AUD/USD pair tried to rally during the session on Thursday, but as you can see struggled to keep the gains above the 0.87 handle.

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According to many industry experts, Bitcoin is primed for greater expansion in the near future. Get the Bitcoin/USD analysis for November 13, 2014 here.

CBS Corporation (NYSE:CBS) and Walt Disney Co. (NYSE:DIS) have gone to court to block the disclosure of programming contracts as part of the ongoing review concerning merger deals in the U.S. The two companies argue that a possible leak of some of the sensitive information may jeopardize their competitive advantage in the media space.

Check out the USD/JPY Forex signal for November 13, 2014 here.

Check out the GBP/USD Forex signal for November 13, 2014 here.

Check out the EUR/USD Forex signal for November 13, 2014 here.

Gold prices closed lower on Wednesday, giving back a portion of the previous day’s gains, as the greenback edged higher. The XAU/USD pair is currently trading at $1158.30 an ounce but the trading range is narrowing.