Forex Daily Forecast, Analysis and Prediction

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.

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.