Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair which had previously been so bullish continues to consolidate as the 118 level seems to be a bit of a magnet at this point in time.

The EUR/GBP pair broke out to the upside during the session on Thursday, clearing the top of a couple of shooting stars.

Gold prices fell for a second day and settled at $1256.85 an ounce, losing $27.18, on growing perception the U.S. Federal Reserve is on course to raise interest rates as early as June.

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Check out the USD/JPY Forex signal for January 29, 2015 here.

Get the GBP/USD Forex signal for January 29, 2015 here.

Get the EUR/USD Forex signal for January 29, 2015 here.

Get the USD/CHF Forex signal for January 29, 2015 here.

The EUR/USD pair initially tried to rally during the course of the session on Wednesday, but as you can see pullback from the 1.14 level.

The NZD/CHF pair initially tried to rally during the course of the session on Wednesday, but as you can see turned back around and started to fall.

The NZD/USD pair initially tried to rally during the course of the day on Wednesday, but found the 0.75 level to be a bit too resistive.

The USD/NOK pair initially tried to fall during the course of the session on Wednesday, but found enough support to turn things back around and test the 7.85 level.

The USD/SGD pair initially tried to fall back below the 1.35 level during the session on Wednesday, but as you can see had enough buying pressure underneath it to turn things back around and form a slight hammer.

Gold prices closed lower on Wednesday, giving back a portion of the previous day's gains, as the greenback strengthened after the Federal Reserve boosted its assessment of the economy and labor market.

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