Forex Daily Forecast, Analysis and Prediction

EURUSD breaks below 1.3889 key support and reaches as low as 1.3876 level, suggesting that the pair is now in short term downtrend from 1.4197. The price action in the trading range between 1.3876 and 1.4027 is treated as consolidation of downtrend.

EUR/USD Open 1.3973 High 1.3997 Low 1.3887 Close 1.3981 Euro/Dollar failed to continue the upward movement on Monday. The currency couple reached a top at 1.3997, descended down to 1.3887, and closed the day at 1.3981. The Dollar was backed by the lower risk investments, which weakened the Euro.

EURUSD has broken the support line at 1.3958. At the moment we can notice just a long needle, but to confirm negativeness we want to see candle's full body closing down under the 1.3958 price level. Neutral is a trend now, but it can turn quickly into the negative side.

GBPUSD is moving to test 1.6187 support, a break below this level will signal deeper decline to 1.5950-1.6000 area. However, rebound could possibly be seen before breaking below 1.6187 level.

After breaking above 1.1636 resistance, USDCAD drops sharply from 1.1654 and breaks below the lower border of the rising price channel.

Yesterday Euro/Dollar attempted to drop, reaching a bottom at 1.4001, but further decreasing momentum was limited and the currency couple rose to the top 1.4190, closing the day at 1.4141.

AUDUSD stays above the rising trend line on 4-hour chart and remains in short term uptrend from 0.7789. As long as the trend line support holds, we’d expect uptrend to continue and further rally is possible to 1.8200 zone in a couple of days.

EUR/USD Open 1.4038 High 1.4150 Low 1.4001 Close 1.4034 Yesterday Euro/Dollar corrected downwards. The currency couple increased to the top 1.4150, but further bullish scenario was limited and it dropped with 150 pips to the bottom 1.4001, closing the day at 1.4034.

EURUSD gone back where they were before and that is neutral position, no trend yet. Bulls were not able to keep up their strength and they had to surrender against bears by sharp move down.

USDCAD stays in the rising price channel on 4-hour and remains in uptrend from 1.0940. The price action in the trending range between 1.1418 and 1.1636 is treated as consolidation of uptrend.

Euro/Dollar rose on Monday. The currency couple reached the 1.3983 bottom, from where it started climbing, closing the day at 1.4077.

EURUSD has touched the resistance line at 1.4111 price level, but it just bounced back and now it is going for support line, soon or later we are going to see a break out from this prices range.

Euro/Dollar recoverred back to the top 1.4107 on Friday, sfter chish started declining and closed the week at 1.4050. On the 1 hour chart the support still holds, limiting the currency pair from further bearish movements. In upwards direction a key resistance is 1.4110.

USDCAD rebounds from the lower border of the rising price channel. Moving higher to test 1.1636 resistance is possible later today, a break above this level will signal further rally to 1.1700 zone.

Being contained by the support of the rising trend line on daily chart, AUDUSD rebounds from 0.7789 level. Range trading between 0.7789 and 0.8263 is expected next week.