Forex Daily Forecast, Analysis and Prediction

The AUD/NZD pair has done the same thing for the last three days: form hammers. This is after gapping higher at the open of the week, so I believe it’s only a matter of time before this pair breaks out.

The USD/JPY pair initially fell during the course of the day on Thursday, but as you can see the 103.50 level has offered support yet again. With that, we bounce significantly and formed a beautiful looking hammer.

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Get the USD/JPY Forex signal for August 28, 2014 here.

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Get the EUR/USD Forex signal for August 28, 2014 here.

The WTI Crude Oil market did very little during the session on Wednesday as we continue to hover around the $93.50 level. With that, it’s very difficult to get overly excited about trading this market right now, as the markets are simply far too tight and choppy to be safe at this point.

The EUR/USD pair tried to rally during the course of the day on Wednesday, even as it touched the 1.3150 level. A lesser executive in the European Central Bank suggested during the day that further quantitative easing was very unlikely out of the ECB next week, and the Euro of course did get a little bit of a boost because of that.

The NZD/USD pair rose during the course of the day on Wednesday, trying to fill the gap from the open on Monday. That being said though, we did close towards the top of the candle so it is a bit difficult to start selling right now.

The EUR/CHF pair is a market that a lot of people have forgotten. This is because the Swiss National Bank is effectively put a floor in this market at the 1.20 handle not too long ago, and the market simply has not been able to break below that for some time.

The USD/ILS pair tried to rally during the session on Wednesday, but as you can see failed to continue going higher, just as we had done during the Tuesday session. In fact, the market formed a beautiful shooting star for the second day in a row, and this of course has my attention.

Get the bitcoin forecast for August 27, 2014 here.

Although gold gained some ground against the American dollar on Tuesday, solid economic numbers out of the United States hindered the bulls' advance. The pair initially climbed to a 4-day high of $1291.09 but pulled back to the $1280 level after data releases.

Get the USD/JPY Forex signal for August 27, 2014 here.

Get the GBP/USD Forex signal for August 27, 2014 here.