Forex Daily Forecast, Analysis and Prediction

After falling to 80.23, just shy of the all time low of 79.75, the USD-JPY rebounded to some degree. Turned out that another intervention by the Bank of Japan was not needed, market forces pushed this pair up the recent level of 83.77.

Recently the Australian Dollar made the all time high in relation to the US Dollar. However, the appreciation in the AUD was much broader, in most of its other crosses. Even another commodity currency, the Canadian Dollar, lost a lot of ground.

Following a prolonged down trend, about a month the USD-CHF made the all time low of 0.9462. Since then there were two rallies in this pair and both of them stalled at the same level – the parity.

The Euro- British Pound has been going through a correction recently in relation to the primary price swing on the daily chart.

The New Zealand Dollar has been of the strongest currencies in recent weeks.

The British Pound has been showing signs of strength lately. It appreciated measurably against some currencies, like the Euro, and held ground in relation to the Dollar, while the USD has been gaining on most others.

Bearish divergence in AUD-USD. After making the all time high at1.0165, the AUD-USD is starting to show signs of weakness.

The last couple of weeks brought a selloff in the EUR-CAD. Nothing surprising. After all, this pair has been in an uptrend for a few months and has registered strong gains

In this Forex market, it looks like the dollar strengthening has finally put an end to the bull move in the EUR/USD, however it may not be time to get particularly bearish yet

Since early September, the EUR-CHF had been in a substantial rally. It took this pair from the all time low of 1.2765 to a high 1.3835, which gave an appearance of a major reversal. However, the price failed to reach the key resistance of 1.3925.

In spite of the all the coverage surrounding the Japanese Yen, the USD-JPY has become one of the least attractive currency pairs to trade. I

Unlike many other currency pairs, the USD-CAD has spent most of this year in a relatively tight trading range.

While the Bank of Japan threatens another intervention, the Yen keeps getting stronger. Not against all currencies, though.

Recently, there have been some questions about the uptrend in the GBP-USD.

The Australian Dollar appreciated substantially on Tuesday, after the Reserve Bank of Australia raised interest rates to 4.75%