Forex Daily Forecast, Analysis and Prediction

Does this trader recommend selling? Find out from this Forex EUR/JPY signal and get your target!

As the end of the week approaches, see how your favorite pairs have been doing and where they may be headed.

EUR/USD fell hard on Wednesday as the downtrend line continues to keep the bulls at bay. The pair is one that I only sell – and sometimes get grief for doing so – but overall, you can’t help but think that Europe simply isn’t worth bothering with.

USD/JPY rose during the Wednesday session as the 80 level proved to be supportive. The last couple of days have seen this pair try to find a bullish tone, and as a result we now have the market trading above the 80 handle again.

AUD/USD fell for most of the session on Wednesday as the “risk off” attitude came back into the markets in general. As the price of commodities fall, the Aussie will often lose strength, so the move for the session wasn’t exactly shocking.

XAU/USD has been trading in an ever tightening channel making lower highs and lower lows (for the most part) since the beginning of March.

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Wall Street closed the second day of the trading week in the green zone, as the ISM manufacturing data encouraged the investors. On the beginning of the day it looked like the indices were about to continue the negative momentum from Monday but strong data lifted the markets.

EUR/USD continued to chop around during the Tuesday session as the markets continue to try and digest the latest headlines. The European situation is widely known at this point, and the troubles in places such as Spain, Portugal, Greece, and now France will be part of the focus for market participants in the near term.

The AUD/USD pair plummeted during the session on Tuesday as the Reserve Bank of Australia cuts rates by .50%, twice as much as the market anticipated. Because of this, the reaction was almost immediate as the traders around the world had to adjust to this reality.

The cable pair has been a straight shot up over the last couple of weeks, and as a result it has been a tough bullish move to join at times. It simply looks overbought to a lot of traders, but won’t pullback very much in order to give those who are a bit more cautious a chance to be long of this market.

The Australian Dollar fell against the Greenback yesterday after the RBA unexpectedly cut rates. The Bears were stopped at the weekly S1 after falling 118 pips and price is currently slightly Bullish going into the London trading session.

See how one trader profited on a binary options platform based on Christopher Lewis's analysis for today.