Forex Daily Forecast, Analysis and Prediction

GBP/USD has been a very bearish pair for quite some time now. The last couple of months have seen unrelenting selling of the pair every time it has tried to rally, which makes the move during the last week so impressive.

The NZD/USD or Kiwi as most traders call it, has continued its Bullish ascent and closed above a daily zone on Friday at 0.8050. The pair fell as low as 0.7994 that day but closed much higher at 0.8062.

This weekly Forex forecast covers major currency pairs including EUR/USD, GBP/USD and more to give you a full look at this week's market opportunities.

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The EUR/USD pair has continued to be the focus of the entire market it seems. Over the last few months, it seems that everything eventually goes back to bond auctions, and because of this all traders has had to suddenly become focused on bond auctions in such places as Greece, Portugal, Spain, and Italy.

AUD/USD continues to grind higher overall in the face of many economic headwinds. The move has been pretty impressive if you think about it as the Aussie is historically one of the first currencies to get whacked when bad news comes out.

USD/CAD has been an interesting pair lately. The oil markets always tend to have an effect on the value of the Canadian dollar, and as such this pair, along with the Norwegian Krone, (USD/NOK) will often move inversely to the price of oil.

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Find out how the GBP/USD is doing based off last week's trading signal

EUR/USD rose during the session on Wednesday as the market celebrated the semi-decent successful bond auctions, (save Portugal) and the apparent IMF expansion of bailout money in the case of a European meltdown.

The NZD/USD had a strong day on Wednesday as the market bought up plenty of risk assets around the world. The Kiwi will almost always be a great barometer of risk sentiment as it is so highly tied in with commodities.

USD/CHF fell for the session on Wednesday as traders sold off the Dollar in general. The market seemed quite happy during the session, and that almost always seems to mean bad news for the Greenback.

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