Forex Daily Forecast, Analysis and Prediction

This new trading week begins with what appears as a heavy EUR/GBP. I start out my analysis as usual taking a look at the EUR/CHF and I see that it is up against the daily 233 ema, a very strong area of resistance.

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EUR/GBP this pair has boon looking very bullish, yet I do see it is approaching a descending trend line that may cause a pullback and/or hesitation. There are bullish signs developing on the daily chart such as ema crossovers but until we break the descending trend line we are approaching I would be hesitant to enter any longs until the line is really broken.

USD/CHF pair continues its bullish drive up and continues to look bullish, however, we have reached bearish fib levels that may start to give price a stronger fight than what we have been experiencing until now.

EUR/USD pair continues to look bearish and I don't see any reason why that will change anytime soon. On the weekly chart we are below the ema's and riding the 5 ema down.

GBP/USD pair is just as bearish as ever, however, it has reached what looks like a strong area of visual support.

EUR/JPY pair continues to be predictable. In all my analysis I point out that price is riding the daily 5 ema which it has.

Over the last couple of days, the USD/CHF daily chart has given us a strong bullish continuation candle closing just above the resistance level of 0.9000, and then reached a high of 0.9181 during the North American session yesterday.

Based on Doug’s analysis of the EUR/USD, the strength of the USD creates an investment opportunity in the following positions: “Low” or “Below”, “Touch Down” or “No Touch” on the EUR/USD.

EUR/GBP pair made a big move yesterday and starts out today with some space in between current price action and the ema's On the weekly chart we see that the 5 ema is pointing up and setting up to make a cross over the 13 and 21 ema's.

This pair has been extremely bullishh but finds itself just above the 38.2 fib of its most recent drop and up against the weekly 55 ema with a Stochastics in the overbought zone.

An incredibly strong USD continues to drive this pair downward. There is no reason to think this move down is over, it can go on and on.