Forex Daily Forecast, Analysis and Prediction

I will start out my analysis today on the daily chart. The weekly time frame just isn't telling me much today. On the daily time frame price has made 3 taps of the upper resistance line I have drawn and the stochastics is pointing down.

A technical glance at the daily chart for USD/CHF using Ichimoku Kinko Hyo averages, we can notice that trend had touched Senkou span A 26 days (Green Moving Average) and bounced crossing Kijun-Sen (Red) just above Kumo (Cloud) which indicate a positive move in a trend following system.

This pair looks a little strange to me today and only because it looks bearish on the weekly chart but the Swissy also looks bearish and the correlation between the two pairs is usually opposite so I will watch this pair very carefully.

It appears that for the last couple weeks the GBP has been overcoming the EUR. This pair has recently broken some trend lines and support.

This pair begins its new week below the 5 ema on the weekly time frame. The trend to the downside looks strong. Each of the ema's are in sync with each other and in their respective numerical order in regards to the downtrend.

For all practical purposes, the Swissy is looking bearish to me. Mostly because it has a lot of resistance it its way. Beginning my analysis with the weekly time frame I can see we have been in the same fib zone for a several weeks now.

The EUR/USD is a pair that has been at the epicenter of the storm in the Forex markets as of late. Looking at the pair, you can clearly see a massive hammer that has formed on the weekly chart just above the 1.35 level.

I will begin my analysis tonight for the Swissy with the daily timeframe. Price is riding the 5 ema to the upside.

I start my analysis tonight for EUR/GBP pair looking at the daily timeframe. This pair looks very interesting to me today.

I begin my analysis for GBP/USD pair with the daily timeframe which in just a bit of a range.

I begin EUR/JPY pair with the daily chart. Price has broken a trend line a couple days ago and price is just below the 5 ema.

For EUR/USD today I will begin with the daily timeframe. Yesterday it just pierced the 61.8 fib to the upside, however, it is still below the 5 ema which is forcing it down.

The GBP/USD is a mixed bag for me. On the daily timeframe price has been falling all week and has stayed below the ema's.

EUR/GBP pair finally made its break to the downside yesterday. As I said in my analysis yesterday, I love it when price is against a trend line.

I will start my analysis for EUR/JPY pair with the weekly timeframe. I do not think this pair is done dropping just yet.