Forex Daily Forecast, Analysis and Prediction

Looking at the daily chart for the EUR/JPY it is obvious price has been riding on the 13 and 21 ema's.

Starting off with the weekly chart it appears that the GBP has picked up strength and the stochastic is in the overbought zone trying to cross up.

Normally, my analysis for the EUR/GBP entails analysis of the EUR/CHF and GBP/CHF. Today however, I don't see it necessary to even look at those two pairs.

Looking at the weekly chart it appears we are heading back up. Last week we dropped from nearly the 50.0 Fib level back down to the 38.2 and now we are back on the rise.

GBP/USD pair bounced off the daily 55 yesterday and has fallen and bounced a bit off the daily 21 and 13 ema's.

the USD/JPY is very range bound so I expectt he same rules for the EUR/USD will apply to the EUR/JPY.

Price has fallen down to the 21 and 13 ema's, however, the USD has recently picked up strength and the stochastic is in the overbought zone.

A drop of a motive wave with a bounce of flat correction. We are here at motive wave C after wave A and B folded.

The EUR/USD pair made some bullish movement in yesterdays trading, but could not hold off the bears.

I start out with this pair looking at the weekly chart and it is obvious that price recently made a 38.2 fib of the recent swing down, overlapped with a 38.2 fib.

I start my analysis for this pair looking at the daily chart. The GBP has appeared to be a bit weak compared to the EUR but the USD has been extremely weak since yesterday so there is very little reason for this pair not to continue its hike upward.

I start out my analysis for this pair with the daily chart and it appears that price has rolled over beneath the ema's and it appears as though the ema's want to push price through the ascending trend line which could very well constitute a breakout to the downside.

This pair continues to look very bullish, however, this pair is approaching a few layers of resistance that could trigger some profit taking and force price back down a bit.

This pair looks extremely bullish. Starting with the EUR/CHF daily chart price is maintaining above the 5 and 13 ema's. On the 4 hour, 1 hour and 15 minute charts price is above the ema's and on the hourly and 15 minute charts the upper Bollinger band is wide open and pointing up.

With most of the major pairs locked in a range of sorts today, one might look elsewhere for potential trades and to gauge the markets. Today I am looking at the EUR/AUD pair as it has potential to continue its bearish run.