Forex Daily Forecast, Analysis and Prediction

During lower volume Asian trading today gold (XAU/USD) turned bullish and is currently trading at 1723.

Begin your trading week with the Weekly Forex Forecast that brings you up to date information on the major pairs and to aid your trading moves in the right direction.

Before you stop trading for the weekend, check out this Forex signal from Fadi on the USD/JPY pair.

XAU/USD fell sharply after the latest Gold Demand Trends report published by the World Gold Council Thursday revealed that Global gold demand declined 11.0% in the third quarter.

The EUR/USD pair had a strong session on Thursday as the Euro came back into favor. The bounce from the supportive range near 1.27 was strong enough to force the price back up to 1.28 during the session.

The AUD/USD pair had a fairly negative session during the Thursday trading hours as the "risk off" attitude came back into play. Markets were necessarily sold off as brutally as they were on Wednesday, but we still see continued weakness in risk assets around the world.

The USD/JPY pair shot straight up again during the Thursday session as fears of Bank of Japan intervention and asset purchases will continue to weaken the Yen.

According to the analysis of the USD/CAD and EUR/JPY trader profited on a binary options platform.

XAU/USD (gold) has been range bound since Friday. After yesterday’s choppy session, the pair looks like it is trying to wind up for a move as the range keeps getting tighter.

The EUR/USD pair initially rose during the session on Wednesday, but met the 100 day exponential moving average and the 1.28 resistance level and failed. Get full analysis here.

The EUR/JPY got a nice jolt higher during the session on Wednesday as the Bank of Japan has now made it clear that they continue to pursue a weak Yen policy. Not only that, but they also have announced that their inflation target is no longer 1%, but is now 3%.

The USD/CAD pair state above the parity level during the Wednesday session even though we saw a spike in the price of oil during the session. This is unusual, as the Canadian dollar normally benefits from higher oil prices.

The EUR/JPY, along with all of the JPY crosses is climbing shortly after traders in Tokyo return from lunch. At time of writing, around 1:15PM in Japan, the EUR/JPY has begun another wave upwards, smashing yesterday's high by at least +30 pips and appears to have the full cooperation of the Bulls to help push the pair even higher.

According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.

Gold vs. the U.S. dollar or XAU/USD has been bullish since the U.S. presidential election resulted in favor of Barack Obama. Gold investors have been focusing on the fact that the Federal Reserve will continue to print money as long as it takes and this will devaluate the American dollar.