Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair initially tried to rally during the course of the session on Monday, but as you can see pullback to form a bit of a shooting star. The shooting star at the bottom of the downtrend of course is a very negative sign.

The WTI Crude Oil markets initially tried to rally during the course of the day on Monday, but turned back around to form a shooting star. That being the case, we are sitting right on top of support in that of course is a very bearish sign.

The GBP/CHF pair pulled back during the session on Monday, but found enough support below the 1.50 level to turn these back around and form a hammer.

The NZD/CHF pair initially rallied during the session on Monday, but as you can see we pulled back slightly. The 0.6350 level above is resistance, but more importantly I see that the market is very choppy on the way down.

The NZD/CAD pair broke higher during the course of the day on Monday, breaking back above the 0.85 handle.

The GBP/AUD pair pulled back during the session on Monday, as we continue to look for buying pressure just above the 1.10 handle.

Get the NZD/USD Forex signal for July 20, 2015 here.

Get the AUD/USD Forex signal for July 20, 2015 here.

Get the USD/JPY Forex signal for July 20, 2015 here.

The EUR/USD pair broke down during the session on Friday, clearing the bottom of the hammer that formed on Thursday. Because of this, I feel that this market is ready to continue breaking down now, and it’s probably only a matter of time before we try to reach the 1.05 level.

The USD/JPY pair stalled during the session on Friday, as we simply could not get above the 124 level for any real length of time. However, we’ve seen a pretty impulsive move to the upside off of the uptrend line that is on this chart, and as a result I think that the buyers are still involved.

The USD/CAD pair broke higher during the course of the day on Friday, and actually broke just above the 1.30 level at one point during the day. However, we cannot hang onto the gains and we pulled back to form a bit of a shooting star.

The USD/SGD pair fell during the course of the session on Friday to test the 61.8 Fibonacci retracement level of the recent downtrend. That area offered support, and as a result it appears that it is now going to be supportive going forward.

The EUR/GBP pair initially tried to rally during the course of the day on Friday, but as you can see the 0.70 level above was once massive support, so it should now be resistance. With that being said, I look at the longer-term charts and see that there is a cluster of support all the way down to the 0.66 handle.

Get the USD/CHF Forex signal for July 20, 2015 here.