Forex Daily Forecast, Analysis and Prediction

Start your week making the right moves for the EUR/USD pair using this Forex signal from one of our expert traders.

See where major pairs like EUR/USD, USD/JPY, and more are headed for the week ahead.

If there ever was a confused pair, it is the USD/CAD at the moment. This pair is most certainly in a down trend, but the market is being pushed around by outside influences that make it trade a bit on the erratic side lately, and as a result we have to look at the larger picture for guidance.

The EUR/USD pair attempted to rally on Friday, but was beat back down as the pair broke above the 1.30 level. This looks as if the large amount of resistance above is going to continue to work against the buyers for the time being.

The EUR/GBP pair initially fell on Friday, but as you can see by the daily chart the market bounced. This is especially interesting to me at this point because the Pound is doing so well in general.

The AUD/CHF tested the 61.8% retracement level last week for the Bullish run up from 0.9125 on May 13 to 1.03477achieved in July.

The USD/CAD pair balance all the way above the 0.98 handle, but by the end of the session fell in order to form a perfect shooting star.

The NZD/USD pair had a very wild session on Thursday as the market both plunged, and then popped right back up in order to form a very long hammer.

The EUR/USD pair fell during the session on Thursday as the 1.30 level couldn't hold the market up. This having said this, we are far from being able to call the Euro rally dead, as we are still certainly at lofty levels.

The NZD/USD pair had a fairly quiet session on Wednesday as most markets consolidated. The New Zealand dollar is a proxy for the commodity markets as far as Forex traders are concerned, and as such it isn't surprising that the day saw very little action.

The EUR/USD pair fell for most of the session on Monday, but did bounce from the 1.30 level in order to form a hammer like candle. This suggests to me that perhaps we still have some bullish momentum going forward.

The USD/CAD pair was very quiet during the session on Wednesday, which is rather surprising considering the oil markets fell precipitously.

The Kiwi (NZD/USD) surged higher after slightly better than expected numbers from the Q/Q GDP numbers were released during the early hours of Asian Trading but has pulled back to 0.82700 once again a little more than half way through the Asian Trading day.

The USD/CAD pair did very little during the session on Tuesday as we flirted with the 0.98 handle. This area is very interesting to me as it is the bottom of a massive consolidation area that extended all the way to the 1.04 level.

The EUR/GBP pair fell during the session on Tuesday as the Euro fell in general. This particular pair has been more interesting to me than the EUR/USD pair because of the fact that the difference in the currencies is far starker than the other market.