Forex Daily Forecast, Analysis and Prediction

The Australian dollar fell initially during the US dollar during the Thursday session, but as you can see we popped in order to close right about the 0.94 handle.

On Monday, 97.75 was tested, broken by 25 pips, and then rose to a maximum long gain of 97 pips, again hitting the upper trend line of the new bearish channel and reversing there to the pip. Get full analysis here.

We can see that this current week is going to be a bullish engulfing week, provided that it closes above 1.3533 (last week’s open), which seems very likely to happen.

The XAU/USD pair bounced off of the 1275 support level and traded as high as 1323.84 as soft economic data out of the United States lead some investors to shift money from equities to gold.

The WTI Crude Oil markets rose during the session on Wednesday as the bottom of the consolidation area continued to pressure the market to the upside. The move isn’t that very surprising to me, and as a result I bought into this market earlier in the day.

The EUR/USD pair went higher on the session for Wednesday, breaking above the top of the shooting star for the Tuesday session. This market looks as if it wants to go higher overall, but with Friday being nonfarm payroll Friday, I believe the next 24 hours should be very quiet.

The GBP/USD pair rose during the session on Wednesday, but he did not break the top of the shooting star from Tuesday. Because of this, I feel that this market is still struggling to go higher, and that of course makes sense with Friday being nonfarm payroll day.

The EUR/GBP market rose during the session on Wednesday after initially falling, showing that this market is still tight and stuck in consolidation. The consolidation area is just below the 0.84 level, an area that was one significant support.

The EUR/JPY pair fell during the balance of the session on Wednesday, but as you can see got enough of a bounce near the 131.50 level in order to form a nice looking hammer.

As the US government shuts down, there has been an increasing amount of chatter regarding gold -- an asset traditionally regarded as a hedge against breakdowns in government. Get the full analysis here.

According to the analyses of the AUD/USD and Crude Oil pairs, trader profited on a binary options platform. See how here.

This weekly chart shows that last week was a bearish reversal candle, but that its low was only broken by a few pips and seems to have become established as a support level.

Gold prices fell sharply during yesterday's session and closed the day at $1287.66 an ounce. Get the full analysis here.

Last week was a very bullish week, closing very hard on its high, and exceeding the high of the previous week. This candle also has a lower wick. Get the full analysis here.

Check out the signal updates for the trades that were recommended in September.