Forex Daily Forecast, Analysis and Prediction

NZD/USD fell for most of the session on Friday as the “risk off” trade came back into play. However, as they normally do – the Americans picked up the risk as the Europeans went home for the weekend.

CHF/JPY isn’t a pair that a lot of people talk about, but I think that it is because they don’t understand that although both are “safe haven” currencies, they don’t have to move in tandem.

EUR/USD fell most of the session on Friday but managed a bit of a pop in the later hours as the Americans took control. This pattern has been repeated over and over – the Asians and Europeans sell the Euro, and the Americans are willing to buy it off of them.

USD/CAD fell during the session on Thursday to continue the remarkable downward pressure that this market has seen over the last several sessions. Remember, we have broken the bottom of a downtrend channel, and this suggests that momentum is certainly picking up for the sellers in this market.

GBP/NZD fell slightly during the session on Thursday, as it ran into resistance around the 1.93 level. The area was support recently, and as such it looks like it should continue to be resistance as typical technical analysis dictates.

EUR/USD fell during the session on Thursday, as we continue to pick away at the 1.23 level. The area is acting as support currently, and as such we see the real battle lines being drawn in this general vicinity.

According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.

The USD/CAD, or just plain old Loonie to us Canucks, has broken out of the descending channel it has been running in since the end of May.

AUD/USD had a relatively quiet session on Wednesday as the pair flirts with the 1.06 level. We're also at the top of an up trending channel, and as such it looks as if we are finally running into significant resistance.

USD/CAD fell during the session on Wednesday in order to break below the bottom of the down trending channel that has been such a prominent feature of this market lately.

EUR/USD had an interesting session on Wednesday as the market originally sold the Euro off and push the pair down to the 1.23 level. However, by the end of the day we saw a bit of a rally which formed a hammer.

According to the analysis of the EUR/GBP and EUR/JPY trader profited on a binary options platform.

The USD/CHF has been consolidating, not unlike its mirror twin the EUR/USD just above the 62 Day EMA at 0.9660 which also happens to be the 61.8% retracement level for all of July's price action.

EUR/JPY had a rally during the Tuesday session, as the Euro continues to enjoy a little bit of what I would consider to be simply a "relief rally."

The EUR/GBP pair had an interesting session as the markets simply didn't go anywhere. The only reason this matters to me is that we are reaching the very first vestiges of resistance.