Forex Daily Forecast, Analysis and Prediction

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Wall Street closed the second day of the trading week in the green zone, as the ISM manufacturing data encouraged the investors. On the beginning of the day it looked like the indices were about to continue the negative momentum from Monday but strong data lifted the markets.

EUR/USD continued to chop around during the Tuesday session as the markets continue to try and digest the latest headlines. The European situation is widely known at this point, and the troubles in places such as Spain, Portugal, Greece, and now France will be part of the focus for market participants in the near term.

The AUD/USD pair plummeted during the session on Tuesday as the Reserve Bank of Australia cuts rates by .50%, twice as much as the market anticipated. Because of this, the reaction was almost immediate as the traders around the world had to adjust to this reality.

The cable pair has been a straight shot up over the last couple of weeks, and as a result it has been a tough bullish move to join at times. It simply looks overbought to a lot of traders, but won’t pullback very much in order to give those who are a bit more cautious a chance to be long of this market.

The Australian Dollar fell against the Greenback yesterday after the RBA unexpectedly cut rates. The Bears were stopped at the weekly S1 after falling 118 pips and price is currently slightly Bullish going into the London trading session.

See how one trader profited on a binary options platform based on Christopher Lewis's analysis for today.

Start the new month with this oil analysis by one of our expert traders, as the oil market is set to go sideways.

Wall Street opened the first day of the trading week in the red zone on the background of mixed data. Personal income was lower than expected and personal spending, which is vital to the economy was a bit higher that the consensus.

EUR/USD continues to be one of the more difficult pairs for traders as it simply cannot make a decision. The various forces that are pushing and pulling it are all important, and as such it is difficult to figure out which way it “should” be traveling at times.

The USD/JPY pair has recently seen a relentless march south as the world suddenly believes that the Federal Reserve is about to enter another round of quantitative easing in the near future. The pair has been one that many traders have been paying extra special attention to as the recent action suggested that we could have been changing trends.

The pair rose during the session on Monday to hit the 0.8150 level again. The area was the site of support a few sessions back, and now as classic technical analysis tells us, this should be resistance.

The Japanese Yen continues to strengthen against almost every other currency in spite of efforts from the BOJ to slow its progress. After Bouncing from the Weekly S2 twice in the past 3 weeks, the pair climbed to a 3 week high just shy of 83.00 by 3 pips and then turned Bearish again.

See how one trader profited on a binary options platform based on today's technical analysis of USD/JPY and USD/CAD.