Forex Daily Forecast, Analysis and Prediction

The WTI Crude Oil markets rose during the session on Tuesday, showing that the $91.50 level continues to offer a bit of support.

The EUR USD pair went back and forth on Tuesday, essentially tracing the range from the Monday candle. The Monday candle was a hammer though, and as a result it looks like the market is ready to find buyers in the general vicinity of the 1.3650 level, which could send it higher.

The USD/JPY pair rose during the session on Tuesday, completely wiping out the losses that the market had experienced on Monday. The candle is long, tall, and green, all of which signify that we should see continued momentum to the upside. The fact that we are closing above the 104 level is strong two, as we start to take on the 105 level yet again.

The USD/CAD pair rose during the session on Tuesday, breaking the top of the hammer that had formed on Monday. This pair has been fairly parabolic of the last week or so, but that’s typical in this market as it tends to go sideways for long periods of time, and then suddenly jump or fall drastically.

The GBP/CHF pair continues to track the risk appetite of global markets as it typically will do from time to time. During the session on Tuesday, we saw the 1.4750 level offered enough support to send the market higher.

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

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

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

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EUR/USD has started the new week quietly, after some strong gains late last week. The pair has jumped close to a cent since Wednesday, as it trades in the mid-1.36 range in Monday’s European session.

The XAU/USD pair extended its gains yesterday and hit the highest level since December 12.

The WTI Crude Oil markets fell hard during the session on Monday again, testing the $91.50 level. This area has been significant support in the past, and as a result it’s probably going to be a bit difficult to sell right here.

The EUR/USD pair initially fell during the session on Monday, but as you can see bounced enough to form a nice hammer.

The USD/JPY pair fell during the session on Monday, testing the 103 level. The candle of course looks very weak, but at the end of the day I still believe that this market is most certainly and an uptrend.

USD/CAD fell during the session on Monday, pulling back from the 1.09 handle. This area of course is going to be somewhat resistive simply based upon the fact that we have recently been so parabolic.