Forex Daily Forecast, Analysis and Prediction

Get the Forex forecast for some of the major currency pairs for the week of June 8, 2014 here.

Gold prices (XAU/USD) settled higher on Thursday as comments from ECB President Mario Draghi helped provide a lift to gold. The European Central Bank cut all three main rates yesterday and announced a new liquidity program designed to support lending.

The WTI Crude Oil markets fell on Thursday, breaking below the $102 level. While this is a relatively negative sign, we also saw the market bounce from there, and form a hammer. Get the analysis for June 6, 2014 here.

The EUR/USD pair initially plummeted during the session on Thursday, slamming into the 1.35 level. This was based mainly upon the idea of the European Central Bank cutting real interest rates to negative levels.

The USD/JPY pair fell during the session on Thursday, as the 103 level above looms large. That is an area that extends quite a bit of resistance, and as a result it’s not surprising to see this market pullback.

The NZD/USD pair rose during the course of the session on Thursday, breaking the top of the hammer that had formed on Wednesday. This of course is a pretty significant bullish sign. Get the full analysis for Friday, June 6, 2014 here.

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Check out the Forex signal for the USD/JPY pair for June 5, 2014 here.

Check out the GBP/USD Signal for June 5, 2014 here.

Get the EUR/USD Forex signal for June 5, 2014 here.

The XAU/USD pair closed yesterday’s session lower than opening but remained within the previous two days’ trading range. Wednesday’s data from the world's biggest economy were mixed. Get the full analysis for June 5, 2014 here.

The WTI Crude Oil markets rose initially during the session on Wednesday, but as you can see turned back around somewhere near the $103.50 level.

Get the EUR/USD technical analysis for June 5, 2014 here.

The EUR/JPY pair rose during most of the session on Wednesday, but as you can see ran into a bit of resistance of the 140 handle. The resulting action forced the printing of a shooting star during the day, which of course is a very negative candle.

The EUR/CAD pair has bounced over the last couple of days rather significantly, but at the end of the day on Wednesday, we ended up running a nice-looking shooting star. Get the full analysis for June 5, 2014 here.