Forex Daily Forecast, Analysis and Prediction

A Professional trader used today's technical analysis and profit on a binary options platform.

The EUR/USD fell on Wednesday again as the “risk on, risk off” attitudes of the market continue to wax and wane almost daily. The pair is currently struggling to make any real gains, but is also being held aloft by the support area near the 1.30 mark.

The EUR/GBP pair fell on Wednesday as the Euro continues to struggle against many currencies around the world. The pair features two currencies that are inexorably tied together as the geographical proximity ensures quite a bit of trade between the two regions.

AUD/CHF isn’t a pair that most traders follow. The fact is that they should, but they simply don’t as a rule. One of the greatest things about this pair is that it tends to trend for very long stretches of time.

The EUR/JPY has been in a bearish trend more or less since April of 2011 when it peaked at 123.33 after almost 3 years of being overall bearish. The overall high was actually established in May of 1990 when the pair reached a high of 188.22!

See how a Professional trader turned today's Forex technical analysis into profitable trades on a binary options platform.

The Kiwi dollar had a grand day on Tuesday as the “risk on” trade appeared globally. The first real trading day of the year often will bring a lot of money into the markets as money managers are looking to put money to work, and they are overwhelmingly “long only” funds, which mean that they can only buy stocks, commodities, or other financial instruments. In other words, they are positively biased.

EUR/USD rose during the Tuesday session as traders returned from the holidays for the first “real” day or trading. The volumes are probably still a bit on the light side, as the Non-Farm Payroll numbers will be coming out on Friday.

USD/CAD had a bearish day on Tuesday as the oil markets got a bit of a bump in lighter volume trading. The Canadian dollar showed its relationship quite with the oil markets quite well as the currency gained against most currencies around the world.

I've been thinking for the last 2 weeks that the Euro was due for either a retracement or a reversal...so it was no surprise that last Friday when I looked at the daily chart for the Euro and noticed a really nice reversal set-up of a support zone.

Check out this update on our expert's previous AUD/USD Forex signal, and stay on top of the market.

Currency: GBP/USD Trend Expected Direction: Down Strategy: Ichimoku Kinko Hyo

While not being one of the most favored pairs in the FX markets, the AUD/NZD pair can be quite useful. On the negative side, the spread is normally fairly wide at best, and the action is choppy most of the time.

EUR/JPY continued to sell off on Monday as traders run from the Euro overall. Trading volume was almost non-existent, and as a result the moves in most pairs were muted. The breaking below the 100 mark is actually parity in this pair as the Yen is denominated in sequences of 100, and this shows just how weak the Euro actually is at this point in time.

The EUR/USD pair had a quiet day as traders started to come back from holiday on Monday. The pair continues to tread water between the 1.29 and 1.30 levels, and looks set to experience further weakness going forward.