Forex Daily Forecast, Analysis and Prediction

The GBP/CHF pair is one that has been drifting lower for some time now. Part of this is because of the fear of a so-called "triple dip recession" in the United Kingdom.

The USD/JPY pair has been on an absolute tear lately as the Bank of Japan has recently announced that they were going to go out of their way to devalue the Yen. The skyrocketing value of the Japanese currency has been killing the export economy for this country, and as a result drastic actions will have to be taken.

Last week the GBP/AUD hit a low of 1.4965, establishing a 3 touch trend line extending from the February 2012 lows through the August 2012 lows.

We have moved from our negative neutrality and as we have mentioned in our previous report, a probability appeared that this pair might be in continues bullish technical combination. Get the analysis here.

The NZD/USD has been range bound for almost three weeks as the pair is trapped between 0.8455 and 0.8330. As a result of better-than-expected data from China and Australia, the New Zealand dollar continues to show resilience against the greenback.

Gold prices dropped after data released yesterday provided further evidence that the U.S. economy is continuing to heal.

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

We tried to climb above the upper band of the 1685-1695 zone and didn't have enough gas. The XAU/USD pair closed lower than opening after lawmakers in the U.S. House of Representatives approved a suspension of the debt ceiling until May 19th.

The EUR/USD pair had a fairly wide range during the Wednesday session, but officially closed at the 1.34 level. We went back and forth and decided almost nothing. This is because the pair is currently consolidating between the 1.3250 and 1.33 levels.

The USD/JPY pair fell during most of the session on Wednesday, as the Yen continued to gain overall. However, by the end of the session we bounced enough to form a hammer like candle.

The GBP/USD pair went back and forth during the Wednesday session for the third day in a row. We currently been bouncing on the 1.58 handle, and as a result the area looks like its trying offer a significant amount of support.

Yesterday the EUR/CAD rocketed upwards over 100 pips after the Bank of Canada left the interest rate unchanged. The EUR/CAD has been steadily marching higher since establishing an all time low in August at 1.2129.

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

Lately, changes in market conditions on both sides of the EUR-CHF have brought about what we consider an opportunity to capitalize on the long-standing stagnation in the cross. Get the analysis here.

The XAU/USD pair managed to stay above the 1685 level as easing concerns over the global growth continued to attract buyers. Also the recent weakness in the American dollar has been providing support for safe-haven gold.