Forex Daily Forecast, Analysis and Prediction

Last week was quite an interesting week in the Forex world. See what's in store for this coming week for the major currency pairs. EUR/USD and more.

The Japanese Yen continues to strengthen against the American Greenback and is testing the support level at 78.00 for the second time in as many months.

GBP/AUD is a pair I brought to your attention the other day, as I saw serious potential for a significant reaction in one direction or the other. Remember, I had mentioned that we were approaching the 1.50 level, and it would certainly cause a reaction psychologically in the market in one direction or the other.

EUR/JPY fell rather hard during the Friday session as the Euro suffered against most currencies around the world. With the situation worsening in the Spain, and the bond markets looking weaker and weaker in the periphery, the Euro should continue to be sold on the whole.

EUR/USD had a very bearish Friday, as the Spanish state of Valencia finally admitted that it needs a bailout from the Spanish federal government.

NZD/USD rose during the session on Thursday as the commodity trade grew in favor. Obviously, as the Kiwi dollar is so highly correlated to commodity markets this makes sense that the Kiwi cut a bid for the session.

The USD/CAD pair managed to break below support during the Thursday session, and this bodes well for Canadian dollar bulls, at least for the meantime.

EUR/USD had a choppy day during the Thursday session as the market is starting to look like it's trying to find some type of support to bounce back from oversold conditions.

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

The GBP/AUD has been descending steadily since making a 3 month high on May 23 of this year and has now broken the 3 month low as well as the low established 2 weeks ago at 1.5069.

AUD/USD rose during the session on Wednesday as it appears the markets believe stimulus is coming. Whether or not they believe it is coming from the Federal Reserve, or the Chinese central bank is probably going to be relevant at the end of the day.

GBP/AUD had a very bearish session during the Wednesday trading day, which is simply a continuation of the trend that we have seen sense April.

EUR/USD seems to be stuck in a pattern of déjà vu, as for the third day in a row it has fallen only to bounce back to form a hammer.

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

The AUD/USD pair continues to defy gravity and climbed again yesterday by another 83 pips to close above the Daily Pivot at 1.0288 but unable to break the high made on July 05 at 1.03271.