Forex Daily Forecast, Analysis and Prediction

The AUD/USD pair has been falling lately, as the world continues to worry about Chinese slowdowns and European debt issues. The Chinese have been showing signs of slowdown lately, and this will weigh upon the Aussie dollar as the Australians send so much of their raw materials to the massive factories on the east coast of China.

The USD/CAD pair has been range bound for some time now, and for traders that cannot trade in this type of environment, this pair has been very tough to make money in. Oddly enough, range bound markets are some of the trickiest for many of my trading friends, even though there is a well-defined boundary on both the top and bottom.

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Start your week with a signal for the CAD/JPY pair using the Elliot Waves method.

Silver is slowly shrinking against the US Greenback hitting its lowest point in 4 months on May 11 and seeming to have no reason to stop falling.

The EUR/USD pair continued to be a troublesome pair to trade on Thursday as the markets simply cannot sit still or even pick one direction for any real length of time. The pair has a recent history of whipping trading accounts around, and the last couple of sessions are the first signs of some semblance of a trend forming.

The pair technically broke out back in January, and the 80 level was the site of a massive move higher. The move caught a lot of traders off guard, and the short covering and newly implemented longs pushed the pair much higher in a very short amount of time.

The USD/CAD pair looks like a very interesting market to me at the moment. The pair has been very range bound over the last few months, and the oil markets have also been very confusing to a lot of traders as well. The commodity trade has been absolutely hammered lately, and this chart shows just how far the oil markets fell.

Based on Christopher Lewis's analysis of the AUD/USD and USD/CAD traders profited on a binary options platform.

EUR/USD fell again on Wednesday as the problems in the region continue to make headlines. The idea that there is a large amount of Europeans expressing through the ballot box that they are fed up with the austerity measures certainly weighs upon the market and sentiment regarding not only the Euro, but risk assets everywhere.

The AUD/USD pair fell hard on a Wednesday session that saw plenty of risk aversion in the marketplace. The pair is one of the favorite ways for traders to express their risk appetite, as the Aussie is so highly correlated to the commodity space, and to exporting to China.

The oil market forming a hammer at a massive support level is worth noticing. For those of you that don’t trade oil – it is one of the most technical markets out there.

The GBP/USD traded as low as 1.6066 early in the New York session and rebounded to close at 1.6135. This price action formed a potential pin bar reversal off of the 50% retracement level for the period between the low on April 16 and the high of April 30th.

Based on Christopher Lewis's analysis of the EUR/USD and USD/JPY traders profited on a binary options platform.

Another day full of nerves passed by in Wall Street, the buyers are still not willing to give up and therefore we see bullish momentums during the trading session. The S&P 500 is facing the support of 1350-1360 points and a strong short-squeeze here might lift it to 1400 points.