Forex Daily Forecast, Analysis and Prediction

The Russian Ruble isn’t necessarily a currency that many of you will follow, but there are some advantages to keeping track of the way it moves. In order to understand what the Ruble means to the Forex world, you need to think about the area of Siberia.

The USD/CAD pair has been a range bound market for the last few months. The pair is often a grinding one, so the market can be frustrating to those that are looking for momentum plays, but if you are comfortable with range trading, this pair can be a great one for you to trade.

The AUD/USD might be setting up to head lower with the 4-Hour Chart showing us why. The pair has been in a downward channel since February 29 when it hit the high for 2012 so far at 1.0855 and began its decent 48 hours later.

Wall Street closed the worst week since the beginning of the year and we see more signs for a possible bearish correction. NASDAQ was the only index among the three major that closed on the green territory on Thursday, mainly because, once again, Apple.

Take a look at where the major currencies like EUR/USD and AUD/USD should be heading this week, and plan your weekly Forex trading smartly.

The US Dollar has been gaining on the Swiss Franc since making a higher low at around 0.9005 last week with only a slight pullback on the Daily chart occurring last Friday, when most markets were closed and the US released some slightly better than expected numbers in unemployment claims.

The pair is one of the most followed, and the Dollar on the whole is measured by the market. The Dollar is enjoying a bit of a strengthening overall, and the Euro is the brunt of bearishness by traders.

The GBP/USD pair tends to be risk sensitive, and as the markets have found much to be concerned about, this makes the uptrend even more impressive. The recent bullish move to the 1.60 level was repelled though, and at that point I thought that perhaps we would see a bit of a fall.

The AUD/USD pair is without a doubt one of the favorites for the trading community to express a bullish view on global growth, with an emphasis on Asia. The Chinese economy can have an effect on the value of the Aussie dollar, as the Australians export so much to that country.

The EUR/USD pair continues to fall as the Thursday session was just another fall in value for the common currency.

EUR/CHF is probably one of the most boring, yet talked about markets in the Forex world at the moment.

The USD/JPY pair has been grinding sideways for some time now. The last couple of weeks have been a back and forth move.

Check out this signal based on Elliott Waves and Fibonacci trading from one of our expert traders.

Based on Colin Jessup and Christopher Lewis's analysis a traders profited on a binary options platform, see here.

The US stock markets closed the trading day with sharp declines of more than 1%. The "excuse" for the declines was the mixed economic data, but the true reason is that the stocks are overbought and even if the markets continue rising, we will see more and more bearish days along the way, until the stocks surrender and start a significant correction of a least 5%.