Forex Daily Forecast, Analysis and Prediction

See what's in store for the major pairs this week especially after the Non-Farm payroll last Friday. Are we buying or selling this week? Find out here.

The USD/CHF closed above the 16 month high on Friday and now has a pretty clear shot at 1.000 with only 1 main hurdle standing in the way, and S/R zone not tested since 2010 at 0.9908 about 140 pips from where price is at time of writing.

The USD/JPY pair fell during the Friday session as the nonfarm payroll number came out weaker than expected. This move wouldn't have been unexpected, but what I do find interesting is that the 79.50 level has offered support again.

USD/CAD surged on Friday as the" risk off trade" came back into play. The oil markets got slammed on Friday, so naturally the Canadian dollar suffered as well.

The EUR/USD pair plunge during the Friday session in reaction to a weaker than expected jobs around the United States as traders simply wanted to cover riskier assets. This of course pushes money into the US treasury markets, and as a result brings down the value of the Euro as the Dollar is been up.

USD/JPY again captures my attention for the session as it continues to lurk around the vital 80 handle. For months and months we have seen the 80 level be an area where price reacts over and over. The area is obviously important to someone with serious money, and as such I am very interested in it.

NZD/USD had a back-and-forth session on Thursday as traders that we could not make a decision on the risk appetite of markets in general. This makes sense, as the nonfarm payroll number comes out later today, and this of course will rock the risk appetite of the markets currently.

EUR/USD fell for most of the session, as the European Central Bank cut rates early in the day. The ECB cutting of the rate from 1% to 0.75% was widely expected, but it does appear that the bank is becoming more and more dovish.

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Catch up on how the major Forex pairs have been doing this week and see where they are headed. Don't let the American holiday interfere with your trading plans!

The week before last the GBP/USD retraced to the 50% level of the Bearish run that lasted for the entire month of May, before heading lower again, and only to be pulled right back up by investors reaction to the EU Summit news as well as fund managers, banks, and private investors covering their positions at the end of the second quarter.

USD/JPY had an interesting day on Wednesday to say the least. The pair initially fell during a "risk off" type of environment, but did manage to bounce late in the day in order to form a hammer.

GBP/USD fell for the session on Wednesday as many of the traders will have felt better about taking exposure to the British pound off of their books. This is because of the Bank of England's monetary policy decision later today, and the unknowns that always come with that type of announcement.

The EUR/USD pair had a negative day during the session on Wednesday. This really shouldn't be a huge surprise, as it is normally the Americans to step in and buy the Euro in general. With the Americans gone for the Independence Day holiday, there really was nobody left to buy it as the native traders tend to be the one to sell it.

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