Forex Daily Forecast, Analysis and Prediction

Although gold prices declined on Friday, the market had a strong week overall. The XAU/USD pair traded as high as 1485.45 but prices reversed after encountering heavy selling pressure at that point.

The WTI market fell during much of the session on Friday, but as you can see bounced off the $92.00 level in order to form a hammer. This hammer is placed in an area that I find very interesting as it does suggest that perhaps the $92.00 level is now trying to act as support.

The EUR/USD pair gained during the Friday session, but as you can see it just bounced enough to show the 1.30 level as being supportive. However, this isn't exactly a surprise as we've seen support here over and over now.

The NZD/USD pair tried to rally during the Friday session, but just as it did on Thursday, it simply could not stay above the 0.85 level. It is because of this that I think we may see some weakness coming in this pair, but I am not necessarily calling for some type of meltdown as the market is most certainly well supported at the moment.

The CAD/JPY pair is one of my favorite to trade under normal circumstances. This is because the fundamental reasons that push the market are so obvious at times. As a general rule, this pair will follow the trajectory of oil as Canada exports, and Japan has to inform 100% of the petroleum it uses.

In spite of last Thursday's massive rush higher for the British Pound, the Japanese Yen is showing signs of strength against it as well as most other major currencies.

Learn which position to take for the USD/CAD pair here from this Forex signal from the experts at BNRY.

The XAU/USD pair had a bullish day as gold buying frenzy continued to drive prices higher. Also the recent weakness in the American dollar has been providing support for the shiny metal.

The WTI Crude market had a positive session during the Thursday trading day, as we continue to grind away higher. Quite frankly, I am surprise that we managed to break above the $92.50 level, as I suspected that would be resistive enough to keep prices away.

The EUR/USD pair initially rallied during the session on Thursday, but as you can see struggle that the 1.31 handle yet again. The pushback that we saw during the session formed a shooting star that is sitting right at the 1.30 handle, and this does look like a market that's trying to grind its way lower.

The USD/JPY pair has been one that everyone's talking about recently, and with good reason. Simply put, this marketplace is where most of the action in the Forex markets has been over the last couple of months, and quite frankly I believe it will continue to be.

The NZD/USD pair rose during the session on Thursday, breaking above the vital 0.85 resistance area. However, we did see quite a bit of the gains reversed, and eventually printed somewhat of a shooting star like candle.

The CAD/JPY pair is heading upward so check out this Forex signal from the experts at BNRY for DailyForex.com here.

After a temporary pause on Tuesday, gold prices continued to move higher yesterday. The XAU/USD pair managed to break above the 1430 resistance level as the American dollar weakened after the data released by the Commerce Department showed that demand for durable goods slumped in the previous month.

The WTI Crude Oil market rose during the session on Wednesday, reaching the $91.55 level by the end of the session. I have recently mentioned that the $92.00 level would be the beginning of significant resistance, and they do feel that it is a "zone" all the way up to the $92.50 level.