Forex Daily Forecast, Analysis and Prediction

The AUD/CAD pair fell during the session on Thursday, testing the bottom of the hammer that had formed on Wednesday.

The GBP/JPY markets rose during the session on Thursday, slicing through the 160 handle without much fanfare.

The AUD/USD pair fell during the session on Thursday, continuing to consolidate right around the 0.93 handle.

The EUR/USD pair fell from the 1.35 handle again, showing that the area is in fact going to be rather significant resistance.

The WTI Crude Oil markets fell during the majority of the session on Thursday, but as you can see the $92.50 level offered enough support to push this market up and form a hammer.

The XAU/USD pair closed yesterday's session higher than opening as the American dollar lost ground after the U.S. trade balance and weekly unemployment claims data missed expectations.

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The GBP/USD pair rose during the session on Wednesday, slicing through the 1.60 handle yet again. While this number is a large significant number, it has been pierced several times so I don't feel as much trepidation in this region as I once did.

The AUD/USD pair rose during the session on Wednesday, showing the 0.93 level be supportive yet again. As you can see on this chart, I have a line drawn on the 0.9250 level, which has been supportive in the past for the Australian dollar.

The EUR/USD pair initially fell during the session on Wednesday, but as you can see bounced enough in order to form a hammer, suggestion that there is support below.

The WTI Crude Oil markets tried to rally during the session on Wednesday, but as you can see got sold off towards the end of the day in order to form a shooting star.

Since Monday the price fell sharply, breaking below the identified strong support level at 1.5890 by approximately 40 pips, before rising fairly strongly and forming a bearish reversal bar yesterday.

The XAU/USD pair (Gold vs. the American dollar) scored a gain of 1.1% on Wednesday after Fed’s Vice Chair Janet Yellen signaled that she backed continuation of the $85 billion/month ($40 billion of mortgage-backed securities and $45 billion of Treasury securities) asset-buying program.

We were right about the AUD/USD bearish bias. The level of 0.9388 was hit just after last Friday's NFP news and gave about 15 pips for little drawdown before being quickly wiped out.

Check out the weekly Forex signal for the USD/CAD pair here.