Forex Daily Forecast, Analysis and Prediction

Gold prices fell sharply during yesterday's session and closed the day at $1287.66 an ounce. Get the full analysis here.

Last week was a very bullish week, closing very hard on its high, and exceeding the high of the previous week. This candle also has a lower wick. Get the full analysis here.

Check out the signal updates for the trades that were recommended in September.

The WTI Crude Oil markets fell during the session on Tuesday, testing the $101 level again. This is the third hammer like candle in a row that we've seen, and as a result it is becoming more and more apparent that this level is acting as massive support.

The EUR/USD pair rose during the session on Tuesday, but as you can see struggle to get above the 1.36 level. That being the case, I believe that this market will continue to consolidate sideways, and that makes a lot of sense considering that this Friday as the nonfarm payroll report.

The AUD/USD pair rose during the session on Tuesday, breaking well above the top of the Monday shooting star. This isn’t that big of a surprise, as I had anticipated that the 0.93 level would of course be supportive.

Although the XAU/USD pair started the week higher on signs that U.S. policymakers are struggling to avert a temporary government shutdown, the pair failed to break through the 1345 resistance and pulled back to the Fibonacci 23.6 level.

The WTI Crude Oil markets fell during the session on Monday, but found enough support right around the $101 level in order to form a nice looking hammer.

The EUR/USD pair rallied during the session on Monday, but gave back about half of the gains yet again. The 1.35 level continues to be a magnet for price, and an area that the market simply can't get past.

The AUD/USD pair tried to rally during the session on Monday, but as you can see it lost most of its strength during the session. This candle ended up being a shooting star, which of course is a fairly negative candle overall.

The USD/JPY pair gapped at the open on Monday, falling significantly but spent the rest of the day filling that gap.

As the forecast correctly anticipated might happen, the news later that same evening sent the price shooting down below the low of 1.0245, to reach a low of 1.0181.

It looks like October will be a positive month for the CAD/JPY pair. Find out why with this Forex forecast here.

Gold prices ended the week higher and settled at $1335.95 an ounce on Friday. It appears that the XAU/USD pair found some support after four consecutive weeks of losses but remaining within the previous week's trading range indicates that neither the bulls nor the bears were able to send the price beyond the range of the previous week.

Last week was an inside week, it also looks by eye to be the smallest range week we have had in this pair for at least two years or so. The action was bearish and most of this bearishness was decided on Friday, when the price rose up and then fell sharply just as quickly as it rose, ending the week down, after the two recent bullish weeks.