Forex Daily Forecast, Analysis and Prediction

This pair continues on its way back up. It has been confined in a bit of a price trap and began its week at the bottom and continues to head up.

This pair still looks bullish and has continued to ride the 5 ema downward but the ema's are beginning to catch up with each other and there appears to be less angle and separation between the ema's which indicates that price is slowing and the move is weakening based on the daily price action.

Last week price broke out of its trap to the down side and the past couple weeks have been bearish indeed, however, while looking at the weekly chart price has fibbed to the zone between the 38.2 and 50.0 fib levels.

See how one trader used analysis from DailyForex to place profitable trades for EUR/USD and GBP/USD.

The AUD/USD has been in a bearish mode the last couple weeks, however, it appears to be consolidating a bit and I think that is due to the weekly 55 ema acting as support.

The EUR/JPY does continue to look just as bearish as ever, but after this pairs recent drop down it has been trapped in a 100 pip consolidation range.

The EUR/GBP has made its retracement back up precisely to the 61.8 Fib Level which just happens to overlap with the Daily 233 and 21 ema's and the daily 21 looks like it is setting up to cross below the daily 233.

The GBP/USD has been extremely bearish but I keep saying that a retracement is long overdue. Finally, I think the retracement is coming together.

We have just began to touch the 38.2 Fib level of the previous swing and keep in mind a swing fib is a swing fib and a move fib is a move fib.

There could be a reversal in the works on the UERCAD pair. Today's daily candle is a 174 pip bullish engulfing candle formed off of support at 1.3475.

Check out the correction of the EUR/USD signal from September 13, 2011. Expect a sharp drop towards the target price anytime.

See how one trader executed a trade based on today's EUR/JPY and GBP/USD analyses and ended up taking a profit.

Looking at the AUD/USD pair there is a feeling something has to happen soon.

The EUR/JPY just recently broke areas it hasn't seen in years. It just keeps riding the 5 ema down on both the weekly and daily charts as well as the 4 hour and 1 hour charts and if the 5 ema gets breached then the 13 seems to get in the way and push price down even further.

The EUR/GBP broke the bottom of its trap, but bounced off the Weekly 144 ema up to the 55 ema which also appears to being crossed by the 5 ema which is also at a swing Fib 38.2 on the Daily and just a bit under the Daily 13 ema, price looks like it is being pushed down even further.