Forex Daily Forecast, Analysis and Prediction

Gold prices settled slightly lower after shuffling between gains and losses, as investors took a cautious stance ahead of Fed chair's appearance before Congress.

The EUR/USD pair fell during the session on Monday, testing the 1.13 level. We found enough support to bounce and form a hammer though, so it does suggest that the market will continue in the recent consolidative attitude that we’ve had.

The NZD/CAD pair broke higher during the course of the day on Monday, testing the 0.95 resistance barrier. The resulting candle is a shooting star that shows significant weakness.

The GBP/USD pair initially fell during the course of the day on Monday, but found buyers shortly after the open to push the market back towards the 1.55 handle.

Get the USD/CAD Forex signal for February 23, 2015 here.

Get the USD/CHF Forex signal for February 23, 2015 here.

Get the USD/JPY Forex signal for February 23, 2015 here.

Get the GBP/USD Forex signal for February 23, 2015 here.

Get the EUR/USD Forex signal for February 23, 2015 here.

Gold ended the week down 2.17% as strength in the dollar and equities markets eroded the appeal of the precious metal as an alternative investment.

The EUR/USD pair went back and forth during the session on Friday, as we continue to bounce around in a consolidative form.

The USD/CAD pair initially fell during the course of the session on Friday, but as you can see found enough support near the 1.24 level to turn things back around and form a nice-looking hammer.

The AUD/USD pair broke higher during the course of the session on Friday, but as you can see there is plenty of selling pressure in general in this pair, as the Australian dollar continues to soften up against the US dollar.

Get the Forex forecast learning about quant vs chart reading for the week of February 23, 2015 here.

Get the forecast for some of the major Forex currency pairs for the week of February 23, 2015 here.