Forex Daily Forecast, Analysis and Prediction

Technical analysis and fundamental analysis of the major Forex currencies can help you trade smarter this week - get the scoop now!

The common currency is on the hot seat again. After being quiet for some time, the Greek sovereign debt problem resurfaced as a dominant market mover and the Euro’s price behavior reflects it. Its daily chart indicates lack of commitment by market participants.

The recent behavior of the AUD/NZD has been showing a lot of activity. Just this year the price rallied from 1.2773 to 1.3789 before falling 1000 pips, back to the 1.2800 area. That latest low was reached just last week, followed by a rebound to 1.3148 on Thursday.

The Euro's downtrend has accelerated, and it will take a move above 1.4350/60 to negate it.

The Japanese Yen has become very quiet recently. This is true in relation to all currencies, but is perhaps most visible against the US Dollar. This pair has not made a meaningful move in weeks and is consolidating.

Get technical and fundamental analyses in one place in this weekly currency forecast.

The Australian Dollar, one of the strongest currencies this year, has been losing some of its luster. For a few weeks now, the Aussie has been quietly drifting lower. No sharp selloff, more like a wide consolidation, but its crosses are no longer making new highs, in fact they are testing latest lows.

In spite of negative news coming from Greece almost daily, the Euro managed to stage a good size rally recently. In relation to the US Dollar, the common currency appreciated about 700 pips, from the low of 1.4000 to the latest high of around 1.4700.

Maintaining the minor resistance of 0.8425 has allowed USD-CHF to remain on its trajectory towards 100% projection of 0.9339 to 0.8552 from 0.8945 at 0.8158 next.

The Swiss Franc has been the strongest currency among the majors in recent weeks, pushing the US Dollar to ever-lower lows. Long gone is the time of parity, or even the 0.9000 level. On Tuesday, the USD/CHF made yet another all time low at 0.8325.

All of the Japanese Yen pairs have followed very similar path – they advanced sharply after the joint G7 intervention in March, and dropped since.

Our experts focus on EUR, USD, GBP and other majors to help you trade more profitably this week.

Check how our analysts are approaching this week of Forex trading, and plan your trades accordingly, with this weekly snapshot of the major currencies.

The Swiss Franc continues to be a currency of choice. Opinions vary whether it is treated as a safe haven or a long-term investment, but it getting stronger. Just on Wednesday, the CHF reached new all time extremes against number of major currencies.

EUR-USD is rising after touching channel support at the 1.43 lows. It has been trending up quite strongly but has now reached resistance at 1.4430 from a combination of the monthly pivot and the point and figure count on the 0.0005x3 chart.