Forex Daily Forecast, Analysis and Prediction

Gold prices (XAU/USD) settled slightly lower after a highly volatile trading session yesterday.

We correctly called the bearish turn at the confluent resistance around the 0.97 level. Although that daily candle did close below 0.9650, it did not close very close to its low, and not within the bottom quarter of its range.

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Check out the forecast for the CAD/JPY pair for the upcoming month of November 2013 here.

Check out the CHF/JPY forecast for the upcoming month of November 2013 here.

Check out the GBP/AUD forecast for the upcoming month of November 2013 here.

Check out the Gold monthly forecast for November 2013 here.

Check out the EUR/USD forecast for the upcoming November 2013 month.

Last week was a solidly bullish candle. So far this week has been a bearish inside candle.

The AUD/USD pair fell during the session on Tuesday, slicing through the 0.95 level during the day. That is an area that begins a significant amount of support, but I do see that the support goes all the way down to the 0.9250 level, and as a result I don't think that the markets can be sold, even though it was a fairly bearish candle.

The USD/CAD pair initially fell during the session on Tuesday, but bounced by the end of the day in order to form a bullish candle, and a fresh, new high. This of course is bullish, and as a result I think this pair should continue higher.

The EUR/USD pair tried to rise during the Tuesday session, but as you can see failed to hang onto gains. The resulting candle ended up being fairly negative, and because of this I feel that this pair has a bit of weakness in the short-term coming, simply because the market had gone so far to the upside in such a short amount of time.

The WTI Crude Oil markets initially fell during the session on Tuesday, but as you can see found enough support to bounce and form a hammer. This hammer of course is a relatively strong looking candle, and as a result we think this market will continue to go higher, probably testing the $100 level in the short term.

The XAU/USD pair (Gold vs. the American dollar) closed yesterday's session with a loss as the American dollar gained some strength ahead of the outcome of the Federal Reserve policy meeting.

Last week was a strong bullish reversal candle, closing close to its high which has already been broken this week.