Forex Daily Forecast, Analysis and Prediction

Check out the GBP/USD Forex signal for September 29, 2014 here.

Check out the USD/JPY Forex signal for September 29, 2014 here.

Check out the EUR/USD Forex signal for September 29, 2014

The GBP/USD pair initially tried to rally during the session on Friday, but turned back around to break below the 1.63 handle. However, I see the 1.6250 level as the area that we need to pay attention to the most, as it is the area that the market gapped below a couple of weeks ago.

The AUD/USD pair initially broke higher during the course of the day on Friday, but ran into the 0.88 level and pullback. That area was once a supportive level and as a result it makes sense that the market would find it to be resistance.

The EUR/USD pair fell hard during the course of the month of September, slicing through 1.28 with absolutely no trouble whatsoever. Because of this, I think that this market continues to fall and I even believe we go as low as roughly 1.20 level given enough time.

The EUR/JPY pair tried to rally during the course of September, but as you can see gave back about half of the gains. The resulting candle ended up being a bit of a shooting star, but it’s just above the 135 handle, which for me is massive supportive.

The AUD/USD pair had a nationally horrible month for September. We sliced through the 0.90 level first, and then crashed through the 0.88 level next.

The GBP/USD pair has been falling for some time, but on the weekly chart we did see a hammer form at the 50% Fibonacci retracement level from the move that started a year and a half ago.

The USD/JPY pair looks as if it’s finally broken out significantly over the course of the last several weeks. However, the market breaking above the 105 level of course is a very positive sign but there’s still the matter of the 110 level.

Check out the Forex forecast for some of the major currency pairs here, for the week of September 28, 2014.

The AUD/USD pair fell hard during the course of the day on Thursday, breaking below the 0.88 level.

Gold prices settled higher on Thursday, rebounding from an eight-month low, with the metal’s attractiveness as a safe-haven asset in the wake of a sharp drop in U.S. equities offsetting pressure from strength in the American dollar.

The USD/CAD pair tried to break down during the session on Wednesday, but as you can see struggled just above the 1.11 level during the course of the day.

The EUR/USD pair broke hard to the downside during the session on Wednesday, breaking below the 1.28 level, an area that has in fact been rather supportive.