Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair did very little during the session on Monday, essentially confirming that the area is going to attract a certain amount of buyers.

The EUR/JPY pair fell during the session on Monday, testing the 130 support level yet again.

It is very highly positively correlated with gold, but it tends to move more smoothly than gold and with less scope for manipulation, so can be a good alternative to trade for those interested in being exposed to gold.

Forecasting an entire month in advance can be tricky, as it is really too short a period to apply fundamental analysis, but long enough for plenty of unforeseen events to happen that can blow any technical prediction off course.

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For a third week in a row, the XAU/USD pair settled higher than opening but the last few trading sessions have been choppy at best.

The WTI Crude Oil markets fell during the session on Friday again, plunging below the bottom of the hammer from Thursday.

The EUR/USD pair had a very benign day during the Friday session, suggesting that it is turning right into a little bit of resistance.

The EUR/JPY pair fell hard during the Friday session, slamming into the 130 handle.

The NZD/USD pair rose during the session on Friday, but just barely sold.

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

The GBP/USD, had a relatively good week last week and managed to hold its position above 1.5300 with some consolidation, and after testing 1.5260 one last time on Thursday, is now poised to continue higher.

Gold prices ended yesterday's session higher after the mixed data out of the world's largest economy reinforced expectations that the Federal Reserve will not stop its aggressive asset purchases in the near future.

The WTI Crude Oil market fell during the session on Thursday, poking below the $105 level, and bouncing off of the $104 level.

The NZD/USD pair skyrocketed during the session on Thursday, breaking the top of the Wednesday hammer that was placed at the 0.80 handle.