Forex Daily Forecast, Analysis and Prediction

Like most other common currencies in the Forex world today, the Singapore Dollar or USD/SGD has taken a step back against the rising greenback.

The EUR/USD pair had a bullish session on Monday as the bounce continued from the Friday short covering rally. The G8 meeting over the weekend produced the usual European reaction to the crisis, which is to simply agree to agree to talk about it later.

The Aussie dollar has been the punching bag of people like me for several sessions now. If you are someone that thinks the global economy is in more trouble that the leaders around the world are able to deal with, then selling the Aussie is an almost automatic reaction.

Have you ever heard of the ZAR? This pro trader tells you all about this exotic pair and where it is headed today.

Last week I wrote about a possible Bullish reversal at 0.9825, a long standing S/R zone going back to 2008. The pair did indeed turn Bullish at this level, but is it an actual trend reversal or simply a retracement before heading further south?

Based on DailyForex's analysis of the USD/CAD and EUR/USD traders profited on a binary options platform.

Where are your favorite pairs headed? Find out in this weekly Forex Forecast from one of our pro traders.

The EUR/USD pair had a wild day on Friday as the G8 summit loomed. As it has done recently, the pair started out the day falling, only to bounce once the Americans were left alone to their devices.

The GBP/USD pair has had a roughly couple of weeks as the pair has lost over 400 pips in an almost straight shot down. The concerns of global slowdowns have traders buying the US dollar, and this pair hasn’t been any different.

The USD/CAD pair has been one that has been very good to the scalpers out there for some time. However, on Thursday we got a significant breakout in this market as the 1.01 level gave way. This was the signal that I had been looking for in order to go long.

The EUR/USD pair formed a hammer on Wednesday that had me thinking that a bounce was coming. On Thursday, it fell even further. The market managed to break below the bottom of that Wednesday hammer, essentially voiding it.

The AUD/USD pair is one of the most interesting ones to trade at the moment as it is purely a “risk on, risk off” environment. The Aussie has a lot of different things sinking it at the moment, some of which originate out of Australia, and many others that don’t.

The GBP/USD pair has absolutely fallen apart over the last couple of sessions. This is ironic, considering how it seemed to be so resilient over the last couple of months, even as the Euro weakened, and risk wasn’t in favor on most days.

Based on DailyForex's analysis of the AUD/USD and EUR/USD traders profited on a binary options platform.

EUR/USD continued to show serious weakness on Wednesday as the pummeling continues. The latest headline out of the Union was that the European Central Bank was suspending monetary operations with several Greek banks as they didn’t have the proper recapitalization in place.