Forex Daily Forecast, Analysis and Prediction

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

The much maligned Euro started 2012 where it left off in 2011, finding itself under increased pressure following today’s announcement that activity in the Eurozone manufacturing sector dropped for the 5th consecutive month.

The Euro has hit it lowest point against the US Dollar since last February. As we all know, the Eurozone is facing many economic difficulties, which is pressuring the currency against the US Dollar.

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Yesterday the GBP/USD broke below a very strong area of support at 1.5424 It then fell down to another level of support just above 1.5432 then profit taking kicked in and price bounced up and what was support may have reversed roles and may now be resistance and could begin to drop from where it is.

This week has been a very interesting week for the EUR/USD. Price has broken a strong area of visual support and has made its retracement to the upside, has nearly made contact with the daily 5 ema and is now ready to drop.

The EUR/USD pair fell below the 1.29 level on Thursday as traders reacted to the lackluster Italian 10-year bond auctions during the session. The Italians are paying more than 7% on the 10-year notes now, and as a result the Euro sold off to the safer Dollar.

Where will the USD be headed as we close out 2011 and head into 2012? Find out what one expert trader thinks.

A trader used today's Forex technical analysis to profited on a binary options platform.

Follow up on yesterday's EUR/USD Signal in this analysis by an expert Forex trader.

The EUR/JPY broke support yesterday without a doubt. A fib to the upside, possibly up to where price broke support is all it will take to get more bears into the move down.

Yesterday was quite a drop for the GBP/USD, about 251 pips to be exact. As I said in other analysis today, this move totally caught me off guard and took me by surprise since the move seem to come out of nowhere.

Follow up on where the USD/CAD is headed in this analysis from an expert trader.

Yesterday was a very unexpected day for the EUR/USD. I was not even ready for it. It took me way off guard. This pair is barely moving 6 pips in a 4 hour period and less than 50 pips a day on the average this past week then all of a sudden it tanks 168 pips.

Yesterday was a very action packed day for the market considering the lack of volatility the market has been displaying during this holiday week. I am not necessarily referring to the EUR/GBP since for this pair it was just a slightly below average day.