Forex Daily Forecast, Analysis and Prediction

The USD/CHF or 'Swissy' as traders call it, has found some support on the Monthly S1 at 0.9100, halting its fall towards the close of the New York session. See the full technical analysis here.

Few pairs have been as strong as the AUD/USD pair over the last several months, except possibly the NZD/USD pair – which makes much of the same moves. The Aussie is often used as a play on commodities as the Australians have many of the raw materials that the world uses to expand the economy in the form of construction or manufacturing.

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EUR/USD moved very little during the session on Wednesday as the pair continues to reflect the general attitude of the markets in all things Greece related. The Greeks managed a deal with the Troika to lower the debt and get a bailout, but the markets hardly seem impressed.

The EUR/AUD pair is one that a lot of traders will ignore. It isn’t considered one of the major pairs by many traders, but it does include two major currencies. It is a great way to play risk appetite in the market, and also a great way to express distrust of the Euro as well.

On February 16 the Euro touched the 50% retracement level from its reversal on January 16 to the 60 day high at 1.3320 and has now worked its way back up towards that high.

Free Forex EUR/GBP Signal for February 23, 2012. Using Pivot Points and support/resistance point, see where this major pair is headed.

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Free Forex AUD/USD Signal for February 22, 2012. Using Elliot Waves and Fibonacci Trading, see where this major pair is headed.

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

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EUR/USD has been the focal point of the Forex universe lately. Needless to say, the whole situation in Greece has been on the minds of traders worldwide, and the pair has been very susceptible to headline shocks because of it. In this backdrop, we find this pair to be very choppy overall.

USD/CHF is a quiet pair, and one that many traders are currently ignoring. The pair has a tendency to grind sideways for some time, only to move suddenly and go dormant for another protracted period.

USD/JPY was a pair that nobody wanted anything to do with for months. The Bank of Japan was actively working against the value of the Yen via intervention, and as a result many traders simply wouldn’t be bothered to sell this pair.

The Swissy or USD/CHF is stalled on the support one of 0.9110 once again. Prices have been struggling to break this support level since January 27, 2012 and struggled with this zone in November and December of 2011 as well.