Forex Daily Forecast, Analysis and Prediction

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Just looking generally at weekly Ichimoku Averages, We notice an increase in Rate of Change indicator in the same time with a Double bottom trend action which indicate a change in trend direction.

This pair has been bullish for the last few weeks and I don't see any reason for that to come to an end. At the time I am writing this analysis price has been in a retracement, however, I think it is prepping to continue further to the upside.

This pair is giving me mixed signals. The JPY just took a major dive and on the weekly chart we are at a perfect 50.0 fib of the previous swing down overlapped with the 55 ema, however, on the daily chart we have busted through a trend line, however, we just touched the 233 ema and the stochastic is in the overbought zone.

I will start my analysis with this pair taking a brief look at the weekly chart. Price is at a fib level with the 13 and 5 ema just below price with a stochastic pointing up.

This pair look like it will have a bullish week but at this moment looks like a mixed bag when comparing it to all the different time frames. Starting out with the weekly chart today I can already see ema crossovers.

This pair has been bearish for the last couple weeks and I think this bearishness will continue this week. A brief look at the weekly chart displays that the stochastic is in the overbought zone and that the 5 ema is coming down, approaching the other ema's and a crossover could be imminent.

The pair known as the Aussie/Kiwi appears to be setting up to break higher. A series of lower highs and higher lows on the daily charts is hinting at a break out favouring the bulls.

Starting my analysis today on the daily chart it is clear that price has precisely reached the 61.8 fib overlapped with the lower trend line of the price channel price had previously been trapped within.

After yesterdays steep move up, I do expect a retracement. On the daily chart we totally broke above the trend line.

Yesterdays bullish move for this pair, as intense as it was, now leaves price up against a layer of resistance. I look at the daily chart from two perspectives.

The Swissy made a vast drop yesterday. There were a lot of big moves yesterday and usually after a big move consolidation follows.

As of yesterday, this pair took off and broke out of the price channel it has been trapped in since the summer to the upside.

The AUD/CAD pair has finally broken out of the zone between 1.00 and 1.05527 that it has been trading in since April 2011.

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