Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair has been beaten up pretty severely over the last few sessions, and it appears the bears are finally starting to reassert control in a pair that seems to be somewhat impervious to gravity at times. The problems in Europe seem to have been put to the back burner lately, but it is obvious this is no longer true.

The cable pair has been absolutely whacked since the 1.60 level turned around the buyers. The Federal Reserve released minutes that made no real suggestion of quantitative easing going forward, and the Dollar gained against most other currencies as a result. This pair was of course no different.

USD/CAD is a tricky pair at times. I think this is because by nature, most traders like momentum, and this pair typically grinds. The two economies are far too interconnected to think that there can be a one way run for long, although over time the pair has fallen.

The Australian dollar has, not surprisingly, paused at a strong historical support zone of 1.0276. This has been an important level since December 2010 with the currency pair finding both support and resistance at this level numerous times in the past 2 years.

How are the pairs doing so far this week? This mid-week summary gives you all the details for your favorite major currencies and see where they may be headed.

Today, based on Christopher Lewis's analysis a trader profited on a binary options platform.

The stock markets slid yesterday after the release of the FOMC meeting minuets, in which the FED was not sure whether QE3 would be efficient.

The EUR/USD pair has been stubbornly grinding its way north over the last several weeks, confounding the bears as the European Union truly does have many issues that need to be addressed

The GBP/USD pair has been rising over the last several weeks, and even managed to break the all-important 1.60 barrier. The action above that level wasn’t overly convincing though, and as a result I have been pretty leery about this market – not willing to buy it.

The USD/JPY pair has been a favorite of mine lately, and it is starting to act like the pair of old, when it was one of the best markets to trade. Many of you may not have been trading Forex a few years ago, but it used to be a simple matter of buying this pair every time it dipped.

Since the EUR/JPY is not associated directly with the USD, it is one of the few pairs that did not move dramatically after the FOMC minutes were released in the USA. As such, it has retraced at a less dramatic rate, and done so in a the manner that was actually expected.

See how one trader turned today's Forex technical analysis into profitable trades on a binary options platform.

EUR/USD signal update based on Elliott Waves and Fibonacci principles. Helpful even if you missed the morning Forex signal.

Check out this free Forex signal for EUR/CAD based on Fibonacci principles, and find your target for profits now.

Strong opening for the second quarter in the US stock markets yesterday, as indices rose 1%, NASDAQ created a break-up pattern and S&P has already crossed above the annual picks.