Forex Daily Forecast, Analysis and Prediction

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Watch the major currencies updates of this trading week

As per usual, the EUR/USD is full of drama. In a sense, this pair has been one that cannot be traded for more than a few minutes at a time, and as a result it has been liable for numerous account blow ups in the Forex world lately.

EUR/JPY had a fairly bullish day on Tuesday as the Bank of Japan announced several new schemes to try and devalue the Yen overall.

AUD/USD fell for much of the session on Tuesday as the “risk off” trade came back into the markets. The situation in Europe continues to push the markets around in general, and the Aussie is no real exception.

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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.