Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair tried to rally during the session on Friday, but as you can see failed right around the 103.80 level. The pullback formed a bit of the shooting star, but I don't see this is a market that you can sell.

The AUD/USD pair rose during the session on Friday, as you can see, but at the end of the day we are still well below the 0.90 handle.

Learn where some of the major Forex pairs are headed with this weekly forecast here.

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

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

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

The XAU/USD pair closed lower than opening yesterday as the initial rally faded after the bears took over and dragged prices below the 1252 support level.

The WTI Crude Oil markets tried to rally during the session on Thursday, but you can see that just above the $98 handle we ran into enough resistance to push the market back down and form a shooting star.

The EUR/USD pair fell during the session on Thursday, as the 1.38 level continues offer far too much in the way of resistance.

The EUR/JPY pair rose during the session on Thursday, as the "risk on" attitude came back into the marketplace.

The USD/CAD pair initially fell during the session on Thursday, but as you can see the 1.0550 level offered support, and sent the market much higher. The resulting candle is very positive looking, and as a result the market tested the 1.0650 level.

The AUD/USD pair initially tried to rally during the session on Thursday, but as you can see got beat back and fell below the 0.90 handle. That move is very bearish as far as I can tell, and as I have previously suggested, selling below that level is what my plan has been all along.

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The XAU/USD pair (Gold vs. the American dollar) closed the day lower after three consecutive days of gains as the American dollar gained some strength on signs Washington policymakers are actually closer to reach an agreement on reducing the U.S. budget deficit.

The WTI Crude Oil markets fell during the session on Wednesday, retracing a lot of the gains that we saw on Tuesday. Because of this, it appears that the $97 level will continue to offer buying opportunities though, simply because we bounced off of this area I suspect that others are starting to feel that same way as well.