Forex Daily Forecast, Analysis and Prediction

See how one trader profited by using today's technical analysis on a binary options platform - and learn how you can profit too!

This pair has been looking tricky to me. I am watching this pair very closely. On the daily chart we keep rising, however, we are re-approaching the price channel we recently broke out of which also coincides with a 61.8 fib zone.

This pair has been in a range as of lately and has been sitting on strong support. Starting out looking at the daily chart for this pair I see price has been riding along the daily 13 and 21 ema's overlapped with each other.

The Swissy continues its drop from the near 50.0 fib level it made a couple weeks ago. On the daily chart the 5 ema has crossed below the 233 ema and the lower Bollinger band is open and pointing downward.

Starting out my analysis for this pair on the daily chart price is still riding the 5 ema up but has come into contact with the 233 ema. This of course will cause a bit of a pullback on a lower time frame but ultimately I believe price will continue on until 1.4 before it hits any major resistance.

After trading sideways for over a week between 78.07 and 79.58, this pair appears to be breaking to the upside with today's bullish candle closing above the decending trend line at 79.60.

Today the EUR and GBP appear to be weak against the CHF. I start out my analysis for the EUR/GBP on the daily chart and I can see the 5 ema is crossing down below the 13, 21 and 233 ema's and the stochastic is pointing down.

See how one trader used today's technical analysis to profit substantially in under 1 hour.

Starting out with the weekly chart I see a combination of bearish and bullish indications. The bearish indication is that price is at a 50.0 fib level overlapped with a 55 and 21 ema.

I will start out with this pair taking a brief look at the weekly chart. Last week price fell to the 233 ema then bounced. It seems to be heading back up, however, tough resistance does stand in its way.

I start my analysis on the Swissy looking at the weekly chart. Last week was a very bearish week for this pair and at this time the 5 ema is above weekly price action with a stochastic in the overbought zone.

If we take a technical look at the weekly EUR/USD chart using Ichimoku averages, we still notice a negative bias expecting a drop in the trend due to several reasons. Get the full picture - and our weekly signal here.

Starting out with the weekly chart for this pair I just wanted to point out a few things. First of all, last week price for this pair had mostly dropped and it pierced the 55 ema and has retested.

For 4 weeks in a row the Sterling has closed higher than its open after dropping from the high of 1.66180 the week of August 14, 2011, to the support level at 1.5350 at the beginning of October.

If we take a technical look at the weekly EUR/USD chart using Ichimoku averages, we still notice a negative bias expecting a drop in the trend due to several reasons. Find out what they are and get this week's signal here.