Forex Daily Forecast, Analysis and Prediction

The Aussie has seen a positively bullish day. A strong session on local equities buoyed sentiment and assisted in underpinning the currency.

The NZD/USD pair has been very bullish for quite some time, and it appears that it will continue to be so in to the future. Weekly chart shows a long shadow or hammer , which has found support not surprisingly at .8300.

The pair remains in weak downtrend and since the market is now overbought and hourly oscillators are moving on to sell signals, another leg down may take place today.

A chart of EUR/USD recently looked just like my favorite roller coaster, which makes me think a downtrend will be seen for a while. The pair will likely hit 1.4085, so a sell might be in order.

Probably the best to way to enter short is if EUR makes a new intra-day high and there is a divergence between the price and hourly oscillators. Look for this action around the opening of U.S. stock market trading.

The Japanese Yen has rallied in the past three days, coming within 1.1 percent of its record 76.25 against the US Dollar reached in March, following the Standard & Poor’s downgrade of the U.S. credit ratings.

As expected GBP rallied to 1.6386 level on Friday. Earlier today it broke above this level and then this level acted as support.

After yesterday’s news in America, some people expect that a relative calm in the markets will be lived.

EUR/USD signal based on Fibonacci levels. Good for 2-3 days.

The EUR/USD , GBP/USD and USD/JPY downtrending on the Very Short-Term Trend

Perhaps more than other crosses, pair of the commodity currencies go through more periods of consolidation

the NZD/USD has been in an uptrend all of July, appreciating from 0.8109 to the current level of just above 0.8818

One of the most popular speculative currency pair is the GBP/JPY or “Beast” as it is commonly known in trading circles. The reason is simple – this cross tends to have large price swings and can be very volatile. This translates to potentially good trading opportunities, hence the popularity.

When reading any newspaper, it seems like a rough landscape for the EUR, since Eurozone leaders are focusing on the region's current debt problems while US leaders are struggling to reign in projected future defaults. A first look at the pair looks unpromising, but I think there's a chance for profits if we look at the cycles found in the charts.

The Euro stabilized to some degree in days following the agreement to aid Greece for the second time. It seems that fears about possible dissolution of the common currency are gone, at least for now.