Forex Daily Forecast, Analysis and Prediction

The USD/JPY pair has been one that I have followed quite a bit over the last several weeks.

The EUR/USD pair got a bit of a boost on Thursday as a couple of the Federal Reserve members mentioned that the low interest rates will probably have to continue.

The Kiwi aka NZD/USD has been trading in an increasingly tighter range of 200 +/- pips for over 5 weeks now.

See how one pro trader used technical analysis to profit on a binary options platform.

The EUR/USD pair rose for the session on Wednesday, but failed to impress in doing so. When it comes to the Euro, there seems to be far too many issues out there that could influence the currency into a weak position and because of this – I simply am not looking to buy it at this point in time.

The pair originally broke out beyond the massive 80 resistance level to the cheers of the bulls. This signified a massive bullish move, and it looked like the trend changed at that point as a massive downtrend line had been broken as well.

The USD/CAD pair has been a real grind over the last couple of months, and many of the people I know simply have been ignoring it. Here's why you shouldn't.

The Loonie has been trading around the Monthly Pivot at 0.99483 since January 29 of this year, trading a range between highs of roughly 1.0050 and lows of 0.9860.

EUR/AUD is forming a head and shoulders on the 2H charts. Get the full signal here.

See the mid week summary of the major pairs, get updates and see where they may lead the rest of the week.

The break-down of the support at 1380 points by the S&P 500 caused sharp declines, as I estimated. Many automatic orders & robots waited for the index to slide under the support in order to trigger the selling orders.

The EUR/USD pair is showing signs of contagion fears yet again. The markets are going to have to focus on things like Spanish yields again. The pair has been sold off hard, but is sitting just above the 1.30 level which is a massive support level. The area will have to be broken to the downside in order for selling to be something I am comfortable with.

The USD/JPY pair is one of the ones that have been garnering the attention of not only me, but many of my trading friends as well. The pair has recently looked like one that has started to make the rend change that we all have been thinking of for so long, and the action has been pretty one way.

The 1.01 level is the “end” of the resistance that has been keeping this pair down. The oil markets have been grinding lower over the last few weeks, and now we are starting to see this pair react in accordance.

The Yen had a good day against the Euro yesterday, gaining over 200 points against the Euro - see the full analysis here.