Forex Daily Forecast, Analysis and Prediction

The nervousness of the US stock markets investors is getting higher every day, as yesterday we saw one of the most bearish trading days we have seen in the recent weeks.

The EUR/USD has been rather unimpressive all things considered. It was just a couple of sessions ago when Federal Reserve Chairman Ben Bernanke stated that the interest rate in America would remain as low as possible, for a long as possible.

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The AUD/USD pair has been falling for some time now. However, when we look at the overall picture, the market is actually in a strong uptrend. The recent move down from the highs is actually just a pullback to the 38.2% Fibonacci retracement level.

The USD/CAD pair has a tendency to chop around sideways for a significant amount of time, only to suddenly break in one direction or another in a violent manner.

The EUR/USD has breached a descending trend line that began at the high of August 28, 2011, but has only just closed outside this form of resistance on a daily chart, and has pulled back.

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The investors pulled the US stock markets to a mixed territory on the background of less-than expected consumer confidence data, as today the investors will look forward to the Core Durable Goods Orders m/m data.

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

If there ever was a day that was a vote of “no confidence”, it was Tuesday. The pair had broken out on Monday due to the Federal Reserve Chairman Ben Bernanke stating that the US would have low rates as long as possible, and this of course had traders selling Dollars.

The oil markets around the world have been stuck in a bullish pattern, but limited in how much they really are moving. It has been a strange feel to the markets, as there is demand from emerging markets, but very little form industrialized nations.

The NZD/USD pair is one of the most risk-sensitive pairs of the majors that the retail trader can get involved with. Many times, when the “risk on” trade comes into play, this pair is actually a better performer than the more popular AUD/USD pair because it isn’t as liquid.

The Pound Sterling, or Cable as it is known when traded against the USD is at a critical zone that offers much in the form of resistance.

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As I estimated here yesterday, the US indices made the bullish reversal, as the technology sector pulled the markets to new highs. The reversal was aggressive and it looks like that the hedge funds managers, who believed that a bearish correction would occur, now have to "chase" the S&P 500, which means that they are going to push more money to the stock markets.