Forex Daily Forecast, Analysis and Prediction

Take a look at technical and fundamental analyses of the major currency pairs side by side to get a look at where the market will be going in the days ahead.

Not that long ago the EUR/JPY was in a strong bullish mode. Following the G7 intervention to weaken the Yen, this pair rallied to 123.31, a large appreciation, considering that the preceding low had been at 107.65. Since then, however, things have changed dramatically.

So far this week, currencies have been behaving in a choppy manner. It seems like every economic news release caused a change in direction, lasting few hours, perhaps half a day, only to reverse again in response to the next announcement.

Expect a drop in this pair targeting 1.03000 minor waves (iii), (iv) & (v). Set a stop-loss just above wave B at 1.07817.

NZD/USD has completed major wave V. It broke the channel on a corrective wave ABC. What's up next?

Check out what one expert trader did for EUR-GBP - maybe the same position will work for you!

The commodity currencies have stalled their recent rallies. For the most part, the respective central banks have been hesitant about raising interest rates, something that market participants wanted to see. In addition, the renewed European debt crisis decreased speculative money flow into these currencies.

The recent volatility created by events in Europe is not visible in all currencies. While most of the currency pairs experienced price swings a little larger than normal, a few of the crosses have actually become less volatile and contracted sharply.

Technical analysis and fundamental analysis of the major Forex currencies can help you trade smarter this week - get the scoop now!

The common currency is on the hot seat again. After being quiet for some time, the Greek sovereign debt problem resurfaced as a dominant market mover and the Euro’s price behavior reflects it. Its daily chart indicates lack of commitment by market participants.

The recent behavior of the AUD/NZD has been showing a lot of activity. Just this year the price rallied from 1.2773 to 1.3789 before falling 1000 pips, back to the 1.2800 area. That latest low was reached just last week, followed by a rebound to 1.3148 on Thursday.

The Euro's downtrend has accelerated, and it will take a move above 1.4350/60 to negate it.

The Japanese Yen has become very quiet recently. This is true in relation to all currencies, but is perhaps most visible against the US Dollar. This pair has not made a meaningful move in weeks and is consolidating.

Get technical and fundamental analyses in one place in this weekly currency forecast.

The Australian Dollar, one of the strongest currencies this year, has been losing some of its luster. For a few weeks now, the Aussie has been quietly drifting lower. No sharp selloff, more like a wide consolidation, but its crosses are no longer making new highs, in fact they are testing latest lows.