Forex Daily Forecast, Analysis and Prediction

This coming week is going to be interesting for this pair, because both of these countries will be releasing their economic numbers involving employment.

The resulting shooting star from the session on Friday suggests that we are going to continue to bounce around in this area, so I think there is a short-term trading opportunity at this point in time.

Although the XAU/USD pair fell for most of the week, it had a nice bounce during the Friday's session.

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

This market has a long history of going sideways for a significant amount of time and then suddenly skyrocketing in one direction or the other.

The EUR/USD pair bounced off of the 1.300 level during the session on Thursday, but quite frankly that's a major round number, which of course carries psychological significance.

The XAU/USD pair printed another bearish candle yesterday on the back of the encouraging U.S. economic figures.

The WTI Crude Oil market rose during the session on Thursday, breaking above the $97.00 level at one point during the day.

The one thing that's a bit different about the New Zealand dollar is that it tends to follow the soft commodities, something that most of you probably don't pay attention to.

The XAU/USD pair (Gold vs. the American dollar) continued to fall and hit the lowest level since August 25, 2010. The pair traded as low as 1221.75 before recovering slightly to 1234.25 during today's Asian session.

The WTI Crude Oil markets fell initially during the session on Wednesday, but as you can see found enough support near the $93.50 level in order to bounce back up and close above the $95.00 level.

The AUD/USD pair rose during the session on Wednesday, after forming two significant hammers on the daily chart. However, you can see that the sellers stepped in and push the market back down below the 0.93 handle, and because of that I think this market may struggle to reach the 0.95 handle, an area that I was very interested in shorting at.

The USD/CAD pair fell during the session on Wednesday, something that I had anticipated when the Monday shooting star was printed. Tuesday saw the market rent a hammer, so this of course throws a lot of confusion into the marketplace.

The EUR/USD pair fell during the session on Wednesday, slamming into the 1.30 level during the session. Obviously, the 1.30 level is a large, round, psychologically significant area which of course brings a lot of attention to the market participants.

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