Forex Daily Forecast, Analysis and Prediction

The GBP/USD pair reached all the way to the 1.58 level during the month of August, but turned back around and sold off rather drastically towards the end of the very same month.

Get the NZD/USD Forex signal for August 31, 2015 here.

Get the AUD/USD Forex signal for August 31, 2015 here.

Get the USD/JPY Forex signal for August 31, 2015 here.

Get the USD/CHF Forex signal for August 31, 2015 here.

Check out the GBP/USD Forex signal for August 31, 2015 here.

Get the EUR/USD Forex signal for August 31, 2015 here.

The EUR/USD pair fell again on Friday after initially trying to rally. Because of this, the market looks like it is essentially going to do a “round-trip when it comes to this pair.

During the session on Friday, the GBP/USD pair fell significantly. However, we did find a bit of support at the 1.53 level, and ended up forming a hammer for the second day in a row.

The AUD/USD pair fell initially during the course of the day on Friday, but found support just below the closing price in order to form a little bit of a hammer.

The USD/CHF pair initially fell during the course of the session on Friday, but found enough support below to turn the market back around. After all, the 0.96 level is a large, round, psychologically significant number, and of course would attract traders in general.

The EUR/CAD pair initially tried to rally during the course of the day on Friday, but as you can see fell significantly after trying to do so, and found quite a bit of buying pressure at the 1.50 level.

Gold prices ended the month up roughly 3.5% at approximately $1134 an ounce, benefited from uncertainty posed by China's surprise devaluation of its currency.

Get the weekly Forex forecast using quant vs. chart reading analysis for the week of August 31, 2015 here.

End the month of August 2015 with the weekly Forex forecast for major currency pairs here.