Forex Daily Forecast, Analysis and Prediction

Check out the GBP/USD Forex signal for November 3, 2014 here.

Check out the USD/JPY Forex signal for November 3, 2014 here.

Get the EUR/USD Forex signal for November 3, 2014 here.

Begin the month of November 2014 with the weekly Forecast for some of the major Forex pairs here.

Gold prices continued to sink yesterday, extending losses from Wednesday's session, and touched the lowest level in nearly 4 weeks on technical selling and upbeat U.S. economic data.

The EUR/USD pair fell during the beginning of the session on Thursday, and as you can see ended up bouncing hard enough off of the 1.2550 level to form a nice-looking hammer.

The GBP/USD pair went back and forth during the session on Thursday, showing signs of support as although we broke down rather significantly on Wednesday, you can see that the sellers ran out of momentum, and that the initial shock of the more hawkish than expected Federal Reserve announcement has worn off.

The NZD/CAD pair bounced during the session on Thursday, using the 0.87 level as support. However, we have only bounced back to test the bottom of the uptrend line that was broken during the Wednesday session.

The USD/CAD pair went back and forth during the day on Thursday, as it continues to hang about the 1.12 handle. This is an area that has attracted a lot of attention lately, and I believe it will continue to do so.

The TRY/JPY pair broke out during the session on Thursday, eclipsing the 49.50 resistance barrier. With that being the case, it appears of the market is ready to go much higher, and although it has been a fairly parabolic move, this pair can move drastically and in short order.

The EUR/USD pair has been falling rather significantly for some time now. The last couple of weeks have been somewhat consolidative though, so that being the case it appears of the market will more than likely try to break down and continue much lower.

The GBP/USD pair has been bouncing around the 1.16 level for most of the month of October. What I find significant is the fact that it is the 50% Fibonacci retracement from the entirety of the uptrend, and that the support has shown itself time and time again.

The USD/CAD pair has bounced around the 1.12 level for the last several weeks. I do believe that ultimately we will continue the uptrend that we have seen for some time now, but quite frankly we are at pretty significant levels when it comes to the oil markets.

The USD/JPY pair has had a couple of the strong week see recently, after bouncing off of the important 105 level.

The NZD/USD pair is rapidly becoming one that I am enjoying trading. I believe that the central bank out of Wellington will get its wish, a much lower priced Kiwi dollar.