Forex Daily Forecast, Analysis and Prediction

Get the bitcoin forecast for August 21, 2014 here.

Gold lost ground against the American dollar for a fourth consecutive session on Wednesday after the minutes from the Federal Open Market Committee's July policy meeting showed that officials are willing to tighten policy in response to the economic data.

The WTI Crude Oil market try to rally slightly during the session but as you can see we remain very weak in this market. With that, I believe that the market should continue to fall, as there simply is nothing to hold the market off.

The USD/JPY pair as you can see broke out during the course of the day on Wednesday, slamming right through the 103 level, an area that had been so resistive.

The EUR/USD pair broke down during the day on Wednesday, as the FMOC minutes were released from the last meeting, suggesting that there were perhaps more bullish members than originally thought.

Get the USD/JPY Forex signal for August 21, 2014 here.

Get the GBP/USD Forex signal for August 21, 2014 here.

Get the EUR/USD Forex signal for August 21, 2014 here.

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Get the bitcoin forecast for August 20, 2014 here.

Get the USD/JPY Forex signal for August 20, 2014 here.

Get the GBP/USD Forex Signal for August 20, 2014 here.

Get the EUR/USD Forex signal for August 20, 2014 here.

The EUR/USD pair broke down during the course of the day on Tuesday, testing the 1.33 handle. This area has been rather supportive in the past, so would not surprise me at all to see a bounce from this area.

The NZD/USD pair fell during the course of the day on Tuesday, but we remain above the 0.84 level. Because of this, I think there is still a bit of support just below, and I’m a bit hesitant to start selling.