Forex Daily Forecast, Analysis and Prediction

The 1.35 level in the EUR/USD has been a sort of “line in the sand” for Euro bulls that continually come in at this level to support this pair. The pair keeps finding itself under serious pressure, but the 1.35 level continues to fight.

The Loonie is stuck between a rock & a hard place...so to speak. Price has tried to push through a weekly resistance zone at 1.025 .

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The GBP/USD is tanking just like all the major pairs. On the daily time frame we are at fib levels to the upside and such fib levels may in fact cause bounces that could very well give up opportunities to short this pair.

The Kiwi continues to fall after re-testing the resistance zone of 0.7870 last week. We have broken, & closed below a support zone at 0.7750 and could possibly be heading for a re-test of the 0.7525 level seen in early October.

Yesterday the EUR/USD tanked. This of course had nothing to do with the USD but everything to do with the EUR. I have mentioned this in my analysis on the other pairs, regarding the Eurozone Debt Crisis.

As with the other pairs associated with the EUR this pair is also tanking. This pair continues to be bearish and will keep being bearish until something happens. The idea is to find an entry point to get in on this trade.

In my analysis yesterday I stated that this pair will drop and it did. On the weekly time frame price has crossed below the 144 ema, however, I can already see some retracement conditions developing.

Yesterday the Swissy made an intense move. I forecasted this move based on my technicals but the move was motivated by the Eurozone debt crisis, that the rescue fund was forced to buy back their own debt.

The GBP/USD pair has started to fall apart as traders have broken through the bottom of duel hammers on the weekly chart, which shows a real failure of support at this point.

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The EUR/JPY looks incredibly bearish to me. With this pair I could not consider anything but a bearish bias. On the weekly time frame price is riding below the ema's very smoothly and the lower Bollinger band wants to cross down.

Yesterday was an incredibly bearish day for the GBP/USD. I guess the crowd realized they were not going to break the 61.8 fib level and the market just tanked.

No matter how I look at this pair, I can't think of anything but bearish. On both the weekly and daily time frames price is clearly below the ema's and on the daily time frame price has been very gracefully riding down along the ema's.

A few weeks ago after price reacted to the 50.0 fib level of its previous move down on the weekly time frame and bounced down the Swissy made a reverse fib almost to the 38.2 level and it seems like it will keep going back to the upside and will not pause before it reached that 50.0 fib level once again.