Forex Daily Forecast, Analysis and Prediction

Based on Doug’s analysis of the EUR/USD, The EUR continues to remain bullish which creates an investment opportunity in the following positions: “High” or “Above”, “Touch” or “No Touch Down” on the EUR/USD

This pair keeps heading upward. It has blown through each fib level along the way and is now on the way to the 61.8 fib level. On the daily chart price is riding up the 5 ema and the stochastic is in the overbought zone but remains there which is a bullish sign.

The Swissy continues to fall. On the weekly chart price is now riding the 5 ema down and the lower Bollinger band is open and pointing down. Price is approaching the 55 and 144 ema's around 0.8700 but it could take another day or so to get there, but when we do get there, I expect some type of reaction.

I will begin my analysis today on this pair starting with the daily chart. As we have been observing this pair has been retracing to the upside for the last few weeks and has nearly reached the 61.8 fib level which just happens to overlap with the daily 233 and 144 ema's.

Starting with the daily chart for this pair we seem to be in a range. We are up against the descending trend line and price seems to be slowly rolling over.

Beginning my analysis for this pair I start off today with the daily chart. Price has found its way back inside the trap it was in previously and price seems to be drifting down.

Just about any pair connected to the CAD saw some big movement yesterday. Thanks to a sheepish rate statement from the Bank of Canada the Loonie fell relative to the Greenback.

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This pair has been looking tricky to me. I am watching this pair very closely. On the daily chart we keep rising, however, we are re-approaching the price channel we recently broke out of which also coincides with a 61.8 fib zone.

This pair has been in a range as of lately and has been sitting on strong support. Starting out looking at the daily chart for this pair I see price has been riding along the daily 13 and 21 ema's overlapped with each other.

The Swissy continues its drop from the near 50.0 fib level it made a couple weeks ago. On the daily chart the 5 ema has crossed below the 233 ema and the lower Bollinger band is open and pointing downward.

Starting out my analysis for this pair on the daily chart price is still riding the 5 ema up but has come into contact with the 233 ema. This of course will cause a bit of a pullback on a lower time frame but ultimately I believe price will continue on until 1.4 before it hits any major resistance.

After trading sideways for over a week between 78.07 and 79.58, this pair appears to be breaking to the upside with today's bullish candle closing above the decending trend line at 79.60.