Forex Daily Forecast, Analysis and Prediction

The AUD/USD has managed to stay above weekly Support & resistance at 1.0650, with action during the opening hours remaining Bullish.

Take a look at where the major currencies like EUR/USD and GBP/USD should be heading this week, and plan your weekly Forex trading smartly.

The announcement of a deal has also been strangely accompanied by a severe lack of details, and the community seems far from being overly impressed by whatever it is that Athens thinks it has come up with.

USD/CAD continued to grind away during the Thursday session as the oil markets go back and forth. Also, with a European Union that seems to only be touching on the edges of a deal, although the “risk on” attitude has been dominant, it hasn’t necessarily been prominent.

USD/JPY has been a highly manipulated market lately, and the Bank of Japan has even gone so far as to admit that it had been clandestinely intervening in the recent past.

The AUD/USD pair is slowly but surely pulling back to the previous resistance level at 1.0675, and is hovering around the 3 month highs at roughly 1.075.

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See the weekly summary from easy-forex for the week of February 6-8. Major pairs include EUR/USD, GBP/USD and more!

EUR/USD continues to grind along as the Greeks and representatives from the Troika hold talks in Athens. The pair has been extremely patient, as the markets in general have as well.

The EUR/CHF pair rose for much of the session on Wednesday as word got out that the talks between the Greeks and the Troika were progressing quite nicely.

AUD/USD has been extremely bullish as of late, in a perfect storm of sorts. The pair features a currency that exports commodities to the rest of the world, and most importantly – China.

The USD/CHF pair has broken below the Weekly Support (S1) level of 0.9110 with roughly 20 minutes to go before the close of the Tokyo trading session. Price has been testing this level for well over a week straight beginning back on January 27.

See how one trader used today's technical analysis by Christopher Lewis and profited on a binary options platform.

EUR/USD continues to trade in the fairly tight range that we have seen recently, as the markets are being driven on emotion more than anything else. The Tuesday session saw rumors and markets that wanted to get “ahead of the news”.

If you had a chance to watch yesterday’s video on the GBP/USD pair, you will have seen that the 1.59 level was one that I had concerns about. The rumored agreement between Athens and the Troika on Tuesday had the markets in a “risk on” mood, and the Pound gained.