Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair went back and forth during the session on Wednesday, after the Federal Reserve released its minutes from the last meeting.

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My trade alert for long trade if a breakthrough occurred if the cross breached the 100 mark was confirmed generating the largest trend in the last few weeks.

Short AUD/JPY between 0.8981 and 0.9030 if the price reaches this level before Midnight GMT tonight.

Short AUD/USD between 0.9177 and 0.9205 if the price reaches this level before Midnight GMT tonight.

Although gold prices declined three days in a row, we are still trapped in a small trading range bounded by the Ichimoku clouds on the daily and 4-hour charts.

The WTI Crude Oil markets fell during the session on Tuesday, slicing through the $104 level, an area that we had suggested was significant support.

The EUR/USD pair had a back and forth session on Tuesday, essentially going nowhere by the time the markets closed.

The USD/JPY pair did almost nothing during the session on Tuesday, sitting right at the 98 handle.

The AUD/USD pair fell drastically during the session on Tuesday, aiming towards the 0.90 handle.

The Canadian Dollar, aka the Loonie as it is called, has been recently getting a little stronger against its southern cousin the American Greenback.

Short GBP/USD between 1.5328 and 1.5353 if the price reaches this level between 7am and 4pm GMT today.

Gold is going to be the epicenter of a lot of trading during the month of August, simply because there are a lot of different things going on at one time.

For the last week the trading has been between the 75 floor and the 100 ceiling which remained untested until now.

Building Approvals was the catalyst for further AUD weakness with the numbers falling from the previous -4.3 to the current -6.9...this is significant because they were predicting a positive 2.2 and instead saw a further decline in Building Approvals and the AUD fell dramatically as a result.