Forex Daily Forecast, Analysis and Prediction

Based on Christopher Lewis's technical analyses, a trader profited on a binary options platform. Get the analysis here.

Check out this EUR/USD signal based on Fibonacci principles to find your profits in the market.

The reports of YAHOO and Goldman Sachs lifted the US stock markets yesterday and the indices rose 1.6%. The results season causes extreme changes in the stock markets, which have a direct impact on the US dollar.

Enjoy the mid-week with this USD/JPY Forex Signal from one of our expert traders.

The Japanese Yen is showing signs of strength across the board, and paired with the Kiwi aka New Zealand Dollar is no different. Yesterday the pair bounced off of the Weekly S1 at 65.53 and gained about 110 pips closing 13 pips above the Weekly Pivot.

The world’s stock markets rose in general on Tuesday, and the Dow Jones Industrial Average even managed to close just shy of a 200 point gain. The European indices acted very strong as well, and as a rule – this means “risk on”. However, the EUR/USD pair didn’t join the party.

The USD/JPY pair has been falling over the last two months in a fairly steady manner. However, it wasn’t that long ago that we saw this pair breakout above the 80 handle, which I suggested was a trend change in the making. It is through this prism that I look at this pair, as I notice several things happening at the same time in this market.

The GBP/USD pair has been very tight lately, and the market has been the haven of scalpers. The biggest problem that the British face is the fact that they are so closely tied to the European Union.

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The US stock markets traded yesterday on mixed territory as the large technology stocks pulled NASDAQ down. The index is now close to the support at 2650 and a strong break-down might accelerate the declines.

The EUR/USD pair has been focusing on the Spanish debt markets lately, and with those ten years now offering more than 6%, concern is likely to enter the markets. The action on Monday showed no real evidence of this though, as the market sold off the Dollar on the whole.

The action over the last couple of weeks has been choppy, and with all of the concerns about the global economy slowing down, this of course would have adverse effects on commodities overall, and the oil markets in particular.

The Russian Ruble is a great petrocurrency play for Forex traders looking to take advantage of movements in the oil markets. While not all brokers offer this pair, the market is without a doubt one of the “cleanest” plays for the oil markets.

The USD/CHF appears to be forming the right shoulder of a classic Head & Shoulders formation indicting that the Swiss Currency could gain once again on the Greenback and send the Daily charts into the lower territory.

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