Forex Daily Forecast, Analysis and Prediction

The USD/CAD pair fell initially during the session on Monday, but as you can see bounced in order to form a hammer. This hammer of course signifies that the 1.04 level should offer support going forward.

The EUR/USD pair fell during the session on Monday, essentially stalling out yet again as the market has been so parabolic, and now we are starting to see it take a rest.

The WTI Crude Oil markets rose during the session on Monday again, essentially confirming that the supportive hammer looks to be able to hold the market higher.

Gold prices (XAU/USD) settled slightly lower yesterday as investors took a cautious stance ahead of the U.S. Federal Reserve's monetary policy announcement.

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Check out the signal updates for the AUD/USD, EUR/USD, and GBP/USD pairs here.

End the month of October with this forecast of some of the major Forex pairs.

Last week was a slightly bearish doji, the most significant things about it were its high (at almost exactly the expected 1.6250 resistance level) and its close, which was just below the resistance level at 1.6177.

The USD/JPY pair fell during the bulk of the session on Friday, but as you can see bounced high enough off of the 97 level in order to form a hammer.

The GBP/AUD pair tried to rally during the session on Friday, but as you can see got stuck above the 1.69 level, an area that has been rather supportive in the past.

The AUD/USD pair fell during the session on Friday, showing that there is continued weakness in the Australian dollar. That being the case, I feel that the market will more than likely go down to the 0.95 level before it's all said and done, where it should find significant amount of support.

The USD/CAD pair rose during the session on Friday, breaking above the 1.0450 handle at the close. This is a continuation of the move that smash through the resistance at the 1.04 level, showing that the market is in fact ready to breakout towards 1.05 level, and then possibly as high as 1.06 level.

In the WTI Crude Oil markets rose during the session on Friday, breaking the top of the Thursday hammer. This of course is a classic bully signal, and as a result I am long of this market for the short term.

The XAU/USD pair rose for the week settled at $1351.54 an ounce on Friday as a series of economic data out of the world's largest economy disappointed the market and continued to weigh on the American dollar.

The price has been consolidating since May in a fairly triangular style. We will take a closer look at triangular trend lines that can be applied in a shorter term chart to follow.