Forex Daily Forecast, Analysis and Prediction

Check out the EUR/USD Forex signal for September 4, 2014 here.

The XAU/USD pair (Gold vs. the American dollar) settled higher yesterday, marking the first rise in four trading sessions, as caution set in ahead of high impact economic data releases and central bank policy meetings.

The WTI Crude Oil market rose during the course of the day on Wednesday, and even challenged $96.00 handle. It’s above there that we would see a significant amount of buying pressure reenter the market, and perhaps try this market as high as $98.50.

The EUR/USD pair broke higher during the session on Wednesday, but as you can see gave back about half of the gains. We did form a hammer during the Tuesday session though, so it’s not a huge surprise that we got a little bit of support.

The EUR/GBP pair rose during the course of the day on Wednesday, but as you can see found a bit of resistance at the 0.80 level. However, there is still significant resistance above, and I do not think that this market breaks out to the upside until we get above the 0.8035 handle.

The USD/NOK pair rose during the course of the day on Wednesday, breaking the top of the shooting star from the Tuesday session, and going above the 6.20000 level. Because of this, the market should continue to go higher as the trend line certainly has been holding onto the uptrend.

The USD/JPY pair fell during the session on Wednesday, breaking back below the 105 level. This being the case, it appears that the market will have to pullback in order to find some type of supportive action in order to go long.

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The XAU/USD pair (Gold vs. the American dollar) fell 1.69% on Tuesday, extending its losses to a third straight session, and touched the lowest level since June 18.

Get the BTC/USD analysis for September 3, 2014 here.

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

Get the recommendation for the GBP/USD pair with this free Forex signal for September 3, 2014 here.

Check out the EUR/USD Forex signal for September 3, 2014 here.

The EUR/USD pair initially fell during the session on Wednesday, but bounced enough to form a nice-looking hammer. This hammer is just after forming a shooting star, and with that being the case the market looks as if it is ready to perhaps go sideways in general.

The NZD/USD pair fell during the course of the day on Tuesday, smashing into the 0.83 handle. That level offered support though, as we bounced from there. At the end of the day though, I believe that the market will continue to go down from here, especially as the commodity markets all look so soft.