Forex Daily Forecast, Analysis and Prediction

Technical and fundamental analysis of EUR, USD, AUD and four other major currencies, all in one place.

The Canadian Dollar was very active last week, due to enormous amount of data released in that country. Even though a lot of it was positive, like a hint of interest rates increase in the near future, the Canadian Dollar remained largely stalled.

The Euro has been among the most volatile currencies lately. Driven by developments of the sovereign debt crisis in Europe, the common currency has had difficulties maintaining a steady trend, and especially holding on to any gains.

GBP/AUD trading signal, based on Ichimoku, good for one week. Don't wait long to make your move.

An Ichimoku-based trading signal for EUR/USD that is good for one week.

An Ichimoku trade signal for GBP/USD, with chart and description. This trade will be valid for about a week, so check it out now.

Historically, the British Pound and its pair with the US Dollar, the popular “cable”, have been among the most volatile of all currency pairs. Recently, though the GBP/USD does not move as much as it once did. These days, even the EUR/USD has better daily trading ranges.

Following weeks or relative inaction, the USD-JPY finally sprang to life last week. The price found solid resistance at the 100 SMA, around 81.60, and sold off for the next few days, closing below the critical 80.00 level.

The U.S. Dollar finished sharply lower on Friday against its key counterparts on government credit rating fears and lackluster interest rate prospects. Markets began pricing in the previously unthinkable - a US Treasury default - on risks that U.S. legislators may not agree to a budget deal as the government will soon run short of cash.

The Swiss Franc just keeps on getting stronger, prompting the Swiss National Bank to start issuing vaguely disguised threats of intervention. Little surprise, really, since the Franc is at all time extremes against many currencies, including the Pound, the Euro and the Dollar.

EUR has traded sideways for the past day or so, but that sideways trading actually indicates the upside momentum has weakened.

Much to the surprise of many traders, the GBP rallied hard yesterday once it firmly broke above the 1.5945/55 level. Consequently, the hourly chart now shows a strong trend on the upside.

GBP recently showed a recovery from its steep losses by finding a support at the 1.5781 level.

The EUR hit below 1.4070 yesterday and now is downtrending strongly, not only on the hourly chart but on the daily chart too.

Technical and fundamental analyses in one place, with charts of the major currencies to give you a glimpse of what to expect in your Forex trading during the week of July 11, 2011.