Forex Daily Forecast, Analysis and Prediction

The EUR/JPY begins the new week below the weekly 5 ema. Price is spaced below the 5 ema so price may be expected to rise a bit to make contact with the weekly 5 so it can keep heading down. On the daily time frame price is spot on the 5 ema and price seems to be heading up a bit.

The Swissy begins its fresh week above the weekly 5 ema but slightly spaced a bit above the 5 ema it is possible for price to drift down just a bit before continuing on up and price is up against very strong resistance since .9300 has already held up as strong resistance a couple other times in the past.

The new week begins with price opening up way below the 5 ema and price made a rather large gap over the weekend, I expect after the gap fills price could head up a bit until weekly price makes contact with the weekly 5 ema.

The new week for the EUR/GBP begins with the new weekly candle just below the weekly 5 ema. This pair as been in a downtrend for the last and it opens up touching the 5 ema I think there is as a very good chance price will just keep falling.

Last week the Greenback had another relatively strong week against its northern cousin, the CAD (aka Loonie). After price broke and held above the strong weekly resistance level of 1.025, it was a good bet we were going to see a re-test of the 1.05 level, and possibly the October high of 1.0656.

The AUD/USD pair continued it’s slide the past week as traders worry about the debt crisis, and the apparent slowing down economically around the world. As the Aussie is so correlated with commodities, this pair will always fall when there are doubts.

The EUR/JPY continues to ride the 5 ema down on the daily timeframe. Lower Bollinger band is open and pointing down.

The GBP/USD continues to look bearish as ever. On the daily timeframe price has reached the 78.6 fib of the last move up and it has already pierced it.

The EUR/USD starts off right on support. It will be interesting to see what will happen since price is riding down the ema's very hard.

I will begin my analysis with the daily timeframe. Once again price begins its day at the 61.8 fib level around .8609 Price is also in a bit of a range between .8595 and .8620 .

Yesterday turned out to be an up day for the Swissy. Price had a lot of resistance above it in the form of pivot points over multiple timeframes and still overcame it all and went up.

Analyzing the different charts of the pair GBP/USD helps to understand the intensity of the current bearish session in the market. See how it's done here.

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The Swissy opens its day just above the daily 5 ema and appears to want to head up.

Yesterday was a very interesting day for the EUR/GBP It was a very technical day.