Forex Daily Forecast, Analysis and Prediction

The NZD/USD pair had a back and forth session during Monday, eventually settling on printing a hammer.

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Technically, the action of the second half of last week has left EUR/USD with a bullish outlook, reflecting the market's change in sentiment regarding the USD.

At about 18:00 GMT on 10th July, the price did reach 1.0450, and it immediately shot right back up by about 65 pips.

The XAU/USD pair ended the week higher as the American dollar encountered some selling pressure after Federal Reserve President Ben Bernanke signaled the central bank may not be as close to scaling back its monthly asset purchases as investors had imagined.

The WTI Crude Oil markets rose during the session on Friday, parking at the $106.23 level by the time the markets closed.

While you weren't watching on Friday, the AUD/CAD pair broke down.

The USD/JPY pair seems to have firmed up a little bit during the Friday session, showing that the 99 handle continues to be important to the buyers.

The EUR/USD pair fell during the session on Friday, but what's important to me is the fact that the 1.30 level held as support.

Check out the forecast for the week on some of the major Forex pairs here.

The American dollar continued to lose ground against gold during yesterday's session as the precious metal got a boost after the release of minutes from the Federal Reserve’s last meeting.

This market has been extraordinarily parabolic, and quite frankly I've been having trouble figuring out why.

If the hammer gets broken to the downside, I suspect that not only the 1.28 level gets tested, but quite frankly we could see a break down altogether.

Because of the Bank of Japan being so aggressive in its quantitative easing program, I have no interest in selling this pair at all.

The USD/CAD pair fell during the session on Thursday, breaking below the 1.04 level for the first time in a few weeks.