Forex Daily Forecast, Analysis and Prediction

The Swissy made a vast drop yesterday. There were a lot of big moves yesterday and usually after a big move consolidation follows.

As of yesterday, this pair took off and broke out of the price channel it has been trapped in since the summer to the upside.

The AUD/CAD pair has finally broken out of the zone between 1.00 and 1.05527 that it has been trading in since April 2011.

Get a free Forex signal for the popular EUR/USD pair, only at DailyForex.

I will start my analysis for this pair today with the weekly chart. Price fibbed recently just shy of the 50.0 and now is coming into contact with the 13 and 21 ema's and I would like to point out that the 13 is crossing above the 21.

The EUR/GBP is definitely in a bullish state since yesterday. Taking a quick peak at the weekly chart it is evident that this pair had breached, retested and is now heading up and out of the price trap I had it in.

Starting off with the daily chart it is obvious price is riding the 5 ema up and this pair has been looking quite bullish and has breached the daily 144 ema.

This pair is caught inside of a price trap in my hourly chart. It has been in a consolidation range for the last week or so trying to make up its mind and I think it is getting close.

Starting out with the daily chart for this pair it is clear that we have broken out of the descending trend line we were under and price has already broken through the 233 ema and is poking through the 144 ema.

The AUD/USD or 'Pacific Peso' as it is known to some, is approaching a critical resistance level.

Based on Doug’s analysis of the EUR/USD, The EUR continues to remain bullish which creates an investment opportunity in the following positions: “High” or “Above”, “Touch” or “No Touch Down” on the EUR/USD

This pair keeps heading upward. It has blown through each fib level along the way and is now on the way to the 61.8 fib level. On the daily chart price is riding up the 5 ema and the stochastic is in the overbought zone but remains there which is a bullish sign.

The Swissy continues to fall. On the weekly chart price is now riding the 5 ema down and the lower Bollinger band is open and pointing down. Price is approaching the 55 and 144 ema's around 0.8700 but it could take another day or so to get there, but when we do get there, I expect some type of reaction.

I will begin my analysis today on this pair starting with the daily chart. As we have been observing this pair has been retracing to the upside for the last few weeks and has nearly reached the 61.8 fib level which just happens to overlap with the daily 233 and 144 ema's.

Starting with the daily chart for this pair we seem to be in a range. We are up against the descending trend line and price seems to be slowly rolling over.