Forex Daily Forecast, Analysis and Prediction

The GBP/USD pair broke down below the 1.48 level on Friday, which was the bottom of the support zone that I had been talking about recently.

The USD/JPY pair fell slightly during the Friday session, but quite frankly it seems like we are stuck in the general vicinity of the 121 handle.

Get the Forex forecast for some of the major currency pairs for the week of March 16, 2015 here.

Get the Forex forecast learning about quant vs chart reading for the week of March 15, 2015 here.

Gold prices ended Thursday's session nearly unchanged after a volatile day that saw prices swing between gains and losses as the bulls and bears struggle for near-term control.

The EUR/USD pair bounced significantly during the session on Thursday, as the 1.05 level of course offered quite a bit of support.

Looking at the USD/JPY pair, you can see that we initially fell during the day on Thursday. However, we found enough support below the 121 level to turn things back around and form a nice-looking hammer.

The USD/CHF pair fell during the session on Thursday, testing the parity level for support. We did in fact find it there, which of course is what you would anticipate based upon basic technical analysis.

The NZD/USD pair broke out during the session on Thursday, but the 0.74 level offered a bit too much resistance and we pulled back in order to show that there are in fact quite a few sellers above.

Get the AUD/USD Forex signal for March 12, 2015 here.

Get the USD/JPY Forex signal for March 12, 2015 here.

Get the GBP/USD Forex signal for March 12, 2015 here.

Get the EUR/USD Forex signal for March 12, 2015 here.

Gold prices ended Wednesday's session down 0.58% as a robust dollar and technical selling pressure continued to weigh on the market.

The EUR/USD pair broke down again on Wednesday, but this time tested the 1.05 support level. This of course is a large, round, psychologically significant number, so it does not surprise me that the buyers stepped in.