Forex Daily Forecast, Analysis and Prediction

EUR/USD had a very bearish Friday, as the Spanish state of Valencia finally admitted that it needs a bailout from the Spanish federal government.

NZD/USD rose during the session on Thursday as the commodity trade grew in favor. Obviously, as the Kiwi dollar is so highly correlated to commodity markets this makes sense that the Kiwi cut a bid for the session.

The USD/CAD pair managed to break below support during the Thursday session, and this bodes well for Canadian dollar bulls, at least for the meantime.

EUR/USD had a choppy day during the Thursday session as the market is starting to look like it's trying to find some type of support to bounce back from oversold conditions.

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The GBP/AUD has been descending steadily since making a 3 month high on May 23 of this year and has now broken the 3 month low as well as the low established 2 weeks ago at 1.5069.

AUD/USD rose during the session on Wednesday as it appears the markets believe stimulus is coming. Whether or not they believe it is coming from the Federal Reserve, or the Chinese central bank is probably going to be relevant at the end of the day.

GBP/AUD had a very bearish session during the Wednesday trading day, which is simply a continuation of the trend that we have seen sense April.

EUR/USD seems to be stuck in a pattern of déjà vu, as for the third day in a row it has fallen only to bounce back to form a hammer.

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The AUD/USD pair continues to defy gravity and climbed again yesterday by another 83 pips to close above the Daily Pivot at 1.0288 but unable to break the high made on July 05 at 1.03271.

At the mid-week point, get the free Forex signal for the USD/CAD pair. See what the recommendation is and where this pair is trending.

GBP/USD had an interesting day on Tuesday as the Federal Reserve Chairman Ben Bernanke testified in front of the U.S. Congress on the state of affairs.

The USD/JPY pair had a positive session on Tuesday, and this would be expected during the session like we had on Tuesday as the Federal Reserve Chairman gave no real straightforward indication of looming quantitative easing.

EUR/JPY had a positive session on Tuesday, as the Federal Reserve chairman spoke before the U.S. Congress. While this pair typically will follow equity markets, and risk appetite in general, it should be noted that we have also reached a major bottom in this pair and could be seen a simple technical bounce.