Forex Daily Forecast, Analysis and Prediction

It has taken two and a half weeks just for the price to move by even these small amounts and the action is now quite quiet.

The level of 1.3345 was hit during the last hour of Friday's London session.

Long AUD/USD between 0.9133 and 0.9083 if the price reaches this level before Midnight GMT today.

The WTI Crude Oil markets exploded to the upside during the session on Friday, bouncing off of the low area of the consolidation that we've been stuck in for a while now.

The XAU/USD pair ended the week slightly higher after bouncing off of the 1275 level where the Kijun-sen line (twenty six-day moving average, green line) resided on the daily time frame.

I'm not exactly too excited about buying, but quite frankly it looks like the Euro is about to breakout against the Dollar, and that should have an effect on this pair as well.

It has to be said that the Canadian dollar is starting to pick up some steam, and this is more than likely being driven by the oil markets.

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

The EUR/USD pair had a negative session on Friday, bouncing down from the downtrend line that we've seen form the larger descending triangle over the last several months.

Trade Recommendation for long-term profit. See details here.

Long EUR/USD between 1.3345 and 1.3327 if the price reaches this level before 4pm GMT today.

Gold gained some ground against the greenback on better-than-expected Chinese trade data and growing perception that Fed might continue its stimulus program if growth doesn't meet its targets.

Trade Recommendation for long-term profit. See details here.

Short USD/JPY between 97.10 and 97.53 if the price reaches this level before Midnight GMT tonight.

The XAU/USD pair (Gold vs. the American dollar) settled slightly higher yesterday, marking the first rise in eight trading sessions, as caution set in ahead of Chinese trade data and Bank of Japan's monetary policy announcement.