Forex Daily Forecast, Analysis and Prediction

The XAU/USD pair closed yesterday's session lower than opening after the latest reports released from the Unite States provided further evidence that the world's biggest economy is on the right track.

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Be prepared for the upcoming month of December with this forecast of the EUR/USD pair.

Check out the forecast for the USD/CAD pair for December 2013 here.

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

Check out the recommendation for the EUR/USD pair here with this Forex signal.

The AUD/USD pair fell hard during the session on Tuesday, breaking the bottom of the hammer from the Monday session. This is of course a very negative sign, and as a result I think this pair will continue to go lower.

The GBP/USD pair initially fell during the Tuesday session, but as you can see bounced high enough to form a supportive candle. The supportive candle of course slammed into the 1.62 handle, which course is a large round psychologically significant number.

The EUR/USD pair rose during the session on Tuesday, breaking the top of the hammer that had formed on Monday. This of course is a bullish sign, but we did not break above the 1.36 handle, like I had wanted to see.

The WTI Crude Oil markets fell during the session on Tuesday, to test the $93.50 level again. This is an area that has been supportive over the last several weeks, and as a result it does not surprise me that we continue to see it hold up.

Although XAU/USD tried to climb yesterday, the pair run out of gas and fell back to Friday’s settlement.

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The AUD/USD pair spent most of the day on Monday, falling, but as you can see got a bit of a bounce above the 0.91 handle in order to form a hammer.

The GBP/USD pair gapped higher at the open on Monday, but fell apart later in the day. In fact, I was bit surprised to see how much. The market pullback although we were at the top of what could be seen as relatively obvious consolidation.

The EUR/USD pair initially spent most of the Monday session falling, but ended up bouncing off of the 1.35 level in order to form a hammer. The market saw the area as a “value” area, and as a result a lot of buyers came into the market to take advantage of possible support.