Forex Daily Forecast, Analysis and Prediction

The S&P 500 made a false break of the important support at 1370 points, but the sharp declines on Friday took the index down to the support area again, and a successful break-down this time might take it under 1340 points, which is the next significant support.

Take a look at where the major currencies like EUR/USD and GBP/USD should be heading this week, and plan your weekly Forex trading smartly.

The EUR/USD pair is one that many traders love to fight about. While a lot of people have recently wondered how this pair can stay aloft, there are many different reasons that people have come up with.

The GBP/USD pair fell hard on Friday as the “risk off” attitude came back into the markets around the world again. The pair is a great barometer of the risk appetite of global markets, and as a result I find it a great way to see where some of the other markets may go.

The NZD/USD pair has recently been bullish. In fact, the pair has been for a couple of months when compared to the other commodity related currencies. This is most obvious when compared to the Aussie dollar, as that currency fell hard over the last couple of weeks while this one went sideways.

Taking a little excursion into one of the more unique trading pairs to start off the trading week, we will have a look at the GBP/AUD. Last week the pair tested the same high as the week before and broke it by 10 pips, making a new high of 1.55008 as well as a lower low at 1.52583.

The NZD/USD pair is one of the most favored pairs when it comes to expressing the risk appetite of traders.

The USD/JPY pair has been one that I have followed quite a bit over the last several weeks.

The EUR/USD pair got a bit of a boost on Thursday as a couple of the Federal Reserve members mentioned that the low interest rates will probably have to continue.

The Kiwi aka NZD/USD has been trading in an increasingly tighter range of 200 +/- pips for over 5 weeks now.

See how one pro trader used technical analysis to profit on a binary options platform.

The EUR/USD pair rose for the session on Wednesday, but failed to impress in doing so. When it comes to the Euro, there seems to be far too many issues out there that could influence the currency into a weak position and because of this – I simply am not looking to buy it at this point in time.

The pair originally broke out beyond the massive 80 resistance level to the cheers of the bulls. This signified a massive bullish move, and it looked like the trend changed at that point as a massive downtrend line had been broken as well.

The USD/CAD pair has been a real grind over the last couple of months, and many of the people I know simply have been ignoring it. Here's why you shouldn't.

The Loonie has been trading around the Monthly Pivot at 0.99483 since January 29 of this year, trading a range between highs of roughly 1.0050 and lows of 0.9860.