Forex Daily Forecast, Analysis and Prediction

EURUSD did manage to stay around 1.4200 price level and bulls are not giving up that easy. This pair has formed a resistance now at 1.4232 and support at 1.4092.

Euro/Dollar started this week with a positive increasing trend. Strong key resistance for the currency couple is 1.4240.

As it was stated in previous analysis the positive strength of EURUSD pair is confirmed. However for now, bears are going downstairs by reaching resistance line at 1.4189 while support stays still in 1.4077.

GBP/USD 1.6474 - 20 July GBP/USD Open 1.6348 High 1.6473 Low 1.6275 Close 1.6330 Pound/Dollar was trading mostly downwards on Friday. The Cable started descending from 1.6420 down to 1.6275, closing the week at 1.6330.

EURUSD shows some positive strength, by breaking resistance line at 1.4189 would mean a strong move up and climbing to 1.4300 price level can be successful.

EURUSD is creating a small box from 1.4070 to resistance line at 1.4143. Once the prices will break out from the bottom line of a box.

EURUSD has reached one more time the resistance line but couldn't break it, one candle did go above...

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.