Forex Daily Forecast, Analysis and Prediction

The GBP/USD pair attempted to break above the 1.63 level for the second time in the last two days on Thursday. However, it failed and it shows just how resistive this area is going to be.

The USD/JPY pair fell during much of the session on Thursday, but found the 84 level supportive yet again. The resulting candle was a hammer, and this of course is always bullish when you see it.

XAU/USD (Gold vs. the Greenback) continued its bearish free fall yesterday and hit the lowest level since August 23. Prices fell below the critical support level of 1660 after a report from the Commerce Department showed the U.S. economy grew at a 3.1% annual rate in the third quarter.

Our last EUR/USD wasn't successful, but here's an explanation and a hint of what's to come from our expert Fadi.

XAU/USD continued to slide and closed lower than opening yesterday. This was the lowest settlement price since August 30. XAU/USD has seen quite a selloff lately, as the conditions in the marketplace have dulled the precious metal’s safe-haven appeal.

The EUR/USD pair initially started the Wednesday session or the first half of the day as it gained against pretty much everything in the market. Because of this price action, it looked like we were going to have another massively "risk on" type of trading session like we have seen over the last several days.

The GBP/USD pair initially surged during the trading session on Wednesday, exactly as I would've expected. However, we also ran into trouble at the 1.63 handle which I have been talking about as significant resistance for some time now.

The CAD/CHF pair fell during the majority of the session on Wednesday, as we broke below the 0.92 handle at one point. Because of this action, it looks at first like we were going to continue the run towards the Swiss franc.

The GBP/USD hit a new 6 month high when it touched 1.6306 yesterday, but has not made a new high for 2012 as of yet. The high was set in September at 1.6309 and yesterday's high marks the third time this year we have tested the 1.6300 level of resistance.

According to the analysis of the GBP/USD and AUD/USD trader profited on a binary options platform.

Gold prices fell hard yesterday after media reports that President Barack Obama made a new offer to House of Representatives Speaker John Boehner to avoid a U.S. fiscal cliff of spending cuts and tax rises in January.

The EUR/USD pair had a strong showing on Tuesday as the 1.3150 level now looks to act as support. Although I have been bearish of the Euro recently, and therefore not involved in this pair, I still believe that there could be a serious problem facing Europe soon.

The GBP/USD pair shot straight up during the session on Tuesday to continue the bullishness that we've seen since the middle of November. I would remind you that the pair had initially broken out of an ascending triangle over the summer that had resistance at the 1.58 level as the site of the original breakout.

The AUD/USD pair fell during the session on Tuesday as the pair continued to consolidate between the 1.05 and 1.06 levels. This market is very risk sensitive, and because of this it will be liable to react to headlines crossing the wires.

The USD/JPY has reached higher than the resistance level of 84.00 and is trading at 84.31 with about 2 hours left before the London open.