Forex Daily Forecast, Analysis and Prediction

The AUD continues its recent retrace. Many traders use different time frames for different currency pairs. The longer the time frame the more valid the pattern you are charting is.

EURUSD strong movement downside is continued, at the moment candles are formed in very low trading range.

After new highs, concentration is formed by resistance line. While support stays active, buying options are better to look for.

Bouncing between support and resistance levels are still possible further.

Concentration around support level is extended, bears and bulls can decide which direction to take.

We have noted several times a formation we refer to as a Step pattern. More commonly this is identified by Lower Lows and Lower Highs and vice versa.

EURUSD became bearish and negative trend began. Under 1.4874 price level, it is better to take short positions.

Bulls strength is concentrated by the resistance level, today we can still expect to see a breakout by this significant barrier.

Boring movements, but with a potential to reach new highs.

After recent highs, this pair slided downside and formed low trading range between support and resistance price levels.

EURUSD has entered neutral zone, after a breakout by resistance level, bears initiated further movement downside.

After recent low movements, bulls are still not giving up.

Very boring pair now after sharp movements downside. However bulls are not done yet, and this week we can expect a recovery of current price.

This pair is in consolidation in formed trading range between support and resistance.

EURUSD concentrated above resistance level, it looks like bulls have some issues in order to extend current positive movement.