Forex Daily Forecast, Analysis and Prediction

Eur/Usd has made strong gains during the Asian session as the Dollar continues to slide. The Dollar made a comeback yesterday but was short lived as the pair bounced off of the 1.4600 resistance level and continued to rise again.

EURUSD is bouncing back and forwards in a low range between support and resistance levels. Even though prices were declined, bulls instantly got it back above support price level.

EURUSD upside movement did calm down for a while, but a trend still remains positive, however this trend line can be broken soon.

The Euro has been on a tremendous run on the Eur/Usd Pair over the last two weeks. You can see this strong run on the daily chart that there has been have had 10 straight days of gains.

EURUSD remains positive, and trend still stays valid. Upside movement can be expected to be continued while the trend line stays and bulls are above resistance level.

The pound has been under pressure lately and we could see selling in this pair continue as the recent unemployment data was announced to have hit a 12 year high.

EURUSD bulls did break another resistance and extended their prior movement today too. Even though the moves are not that sharp, this pair and it's trend is looking only upside now.

This pair has been in a trading range for several months without a break out with the exception of a short break out in the first couple of days in August.

EURUSD suggested the likelihood of an upside breakout in previous movements, for now this pair remains more silent than yesterday.

EURUSD looks like bears want to pullback this pair to the lower level, if today this pair can manage to break by a support level at 1.4478 – a long way down can be expected.

The Resistance level of 1.6612 was broken through with great force yesterday, which is a bullish indicator that we may see movement to the next level at 1.7000.

EURUSD did confirm yesterday's analysis, 1.4579 level was broken and bulls did extend their prior movement.

EURUSD did break the resistance level at 1.4516 and a continuation of prior trend is extended. If 1.4579 price level can be broken, another movement should be done to the top side.

There is a resistance area around 1.6600 that has been tested recently and it appears as though the pair may be moving down to test the lower diagonal trend line support level.

EURUSD bulls remains very strongly and is trying to extend their further sharp movements towards 1.4619 price level.