Forex Daily Forecast, Analysis and Prediction

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During the Friday session, the WTI Crude Oil markets fell rather hard. The candle of course closed just above the $100.50 level, but more importantly close towards the very bottom of the range.

The EUR/USD pair rose during the session on Friday, but as you can see a back about half of the gains. This is unfortunate, because it shows that the market is simply going to stay within the really tight consolidation area that we have been stuck in for some time.

The GBP/USD pair tried to rally during the session on Friday, but you can see that the 1.6850 level offered enough resistance to turn things back around.

The USD/JPY pair went back and forth on Friday, but the one thing that it did show me was that the 102 level continues to be supportive.

The EUR/JPY pair fell during the session on Friday, but as you can see found enough support at the 141 level to bounce again.

Check out the Forex signal for the USD/JPY pair here.

Check out the Forex signal for the GBP/USD pair here.

Check out the Forex signal for the EUR/USD pair here.

The XAU/USD pair posted first weekly gain in two weeks as the conditions in the marketplace increased desire for safe-haven diversification.

Check out the weekly forecast for some of the major Forex pairs here.

Gold strengthened against the American dollar for a second session on Thursday after comments from Russian President Vladimir Putin boosted anxiety that tensions over Ukraine could escalate.

The WTI Crude Oil markets tried to rally during the session on Thursday, but as you can see ran into a bit of resistance at the $102 level. With that, the market pulled back enough to form a shooting star, which of course looks very bearish.

The USD/JPY pair spent most of the session on Thursday falling, but found enough support near the 102 level to bounce. However, the candle is in exactly overly supportive looking, so I feel that the market will continue to struggle in the short term.

The USD/CAD pair did very little during the session on Thursday, as we continue to meander just above the 1.10 level. With that, I believe that this market will continue to grind sideways, but in the end I also believe that the buyers will start take over again.