Forex Daily Forecast, Analysis and Prediction

EURUSD breaks above 1.4072 resistance and reaches as high as 1.4134 level. Further rally is still possible to test 1.4197 resistance.

Euro/Dollar rose on Wednesday. The currency couple made a bottom at 1.3964, than climbed up to 1.4128, forming divergence on the 1 hour chart. Quotes soon may be testing again the the key 1.4130 resistance.

GBPUSD is moving to test 1.6379 resistance, breaking above this level to reach the next cycle top on 4-hour chart is possible in a couple of days and target would be at 1.6400-1.6500 area.

Euro/Dollar made a moderate decreasing movement on Tuesday, reaching a peak at 1.4014, than dropping down to 1.3912, closing the day at 1.3965.

EURUSD moved up again above 1.4000, but next resistance line at 1.4046 for a moment stays firm. It is hard to give any clear technical picture for this pair. This is due to very choppy market.

EURUSD still can't go above 1.4000 price level. A resistance for now stays at 1.4005, and support at 1.3926, selling is still on a table, but needs to be done with a care.

USDCAD breaks below 1.1543 support, suggesting that a short term cycle top has been formed at 1.1723 level on 4-hour chart.

EUR/USD Open 1.3967 High 1.4007 Low 1.3902 Close 1.3976
Euro/Dollar failed to continue the downward movement on Monday. The currency couple made a bottom at 1.3902, than climbed up to the 1.4004 top, closing the day at 1.3976.

EURUSD formed resistance at 1.3975 and support line at 1.3884. Trend is still negative and there is a possibility of breaking support line

EURUSD a break of support (1.3891) like it was stated in previous analysis is confirmed. This pair has formed another support at 1.3848 for now.

AUDUSD drops sharply below 0.7789 previous low support and reaches as low as 0.7722 level. The pair remains in downtrend from 0.8155. Deeper decline is still possible to 0.7650-0.7700 area.

Euro/Dollar attempted to decrease on Wednesday, reaching a top at 1.3929, and from there descending to the 1.3832 bottom with around 100 pips, but further bearish pressure was limited as the currency pair closed the day at 1.3880.

EURUSD bears are taking over the control from bulls. There is a good chance today to break support line at 1.3891 and reach new lows this month.

After touching 1.4027 resistance, EURUSD drops sharply from 1.4050 level, suggesting that the pair remains in short term downtrend from 1.4197.

Euro/Dollar made a moderate downward movement on Tuesday. The currency couple climbed to the 1.4046 top, than dropped down to 1.3910. On the 1 hour chart the European currency broke the 1.3910 support downwards.