Forex Daily Forecast, Analysis and Prediction

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The Greek Parliament voted in favor of austerity in the early part of the Asian session on Monday in order to receive the next tranche of bailout money. The pair has been volatile over the last year or so on these issues, which quite frankly, started even sooner than that.

The GBP/USD pair is a highly risk sensitive one. The British Pound is currently in the crosshairs of bears as the United Kingdom is so heavily exposed to the problems in the European Union, not the least of which includes the banking sector of Britain, which is most certainly holding debt in that region.

The AUD/USD pair rose on optimism out of Athens when the austerity measures past during the early hours of the Monday session. The pair is very risk-sensitive and as a result popped originally.

The Swissy continues to trade between its 2 week high of 0.9262 and the opposing low at 0.9087 for the 3rd week in a row. Support at 0.9120 has been tested several times with price falling right back into its range day after day.

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EUR/USD continues to be the focus of the Forex world as the debt crisis drags on and on. The Greeks are trying everything they can to drag out the situation as the political realities domestically are getting more and more heated.

The EUR/CHF pair is one that is a bit different than the others because of direct central bank intervention. The Swiss National Bank has put in a “minimum acceptable rate” for the pair at 1.20, and at that announcement, the pair skyrocketed in a few short hours, gaining well over 1,000 pips.

USD/JPY is a highly manipulated pair. People often argue about whether or not Forex is manipulated, but the argument is pointless. The main reason for that is that the market is obviously manipulated, but not necessarily by the people that are accused.

The AUD/USD has managed to stay above weekly Support & resistance at 1.0650, with action during the opening hours remaining Bullish.

Take a look at where the major currencies like EUR/USD and GBP/USD should be heading this week, and plan your weekly Forex trading smartly.

The announcement of a deal has also been strangely accompanied by a severe lack of details, and the community seems far from being overly impressed by whatever it is that Athens thinks it has come up with.