Forex Daily Forecast, Analysis and Prediction

The EUR/USD has breached a descending trend line that began at the high of August 28, 2011, but has only just closed outside this form of resistance on a daily chart, and has pulled back.

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

The investors pulled the US stock markets to a mixed territory on the background of less-than expected consumer confidence data, as today the investors will look forward to the Core Durable Goods Orders m/m data.

See the mid week summary of your favorite major pairs, get updates and learn where they may lead the rest of the week.

If there ever was a day that was a vote of “no confidence”, it was Tuesday. The pair had broken out on Monday due to the Federal Reserve Chairman Ben Bernanke stating that the US would have low rates as long as possible, and this of course had traders selling Dollars.

The oil markets around the world have been stuck in a bullish pattern, but limited in how much they really are moving. It has been a strange feel to the markets, as there is demand from emerging markets, but very little form industrialized nations.

The NZD/USD pair is one of the most risk-sensitive pairs of the majors that the retail trader can get involved with. Many times, when the “risk on” trade comes into play, this pair is actually a better performer than the more popular AUD/USD pair because it isn’t as liquid.

The Pound Sterling, or Cable as it is known when traded against the USD is at a critical zone that offers much in the form of resistance.

Based on Christopher Lewis's analysis a trader profited on a binary options platform, watch it here.

As I estimated here yesterday, the US indices made the bullish reversal, as the technology sector pulled the markets to new highs. The reversal was aggressive and it looks like that the hedge funds managers, who believed that a bearish correction would occur, now have to "chase" the S&P 500, which means that they are going to push more money to the stock markets.

The EUR/USD pair has been an interesting one of late to say the least. The pair has been in a tug of war between those who worry about the issues in European debt markets and those who think the United States will continue to ease monetary policy.

The AUD/USD pair is one of the most popular pairs to trade when the market is in a “risk on, risk off” mindset. This is simply because of the relationship of the US dollar to a “flight to safety” trade.

The USD/CAD pair is well-known as a barometer for oil markets. It features two very interconnected economies, and as such can be quite choppy as well.

The AUD/JPY has been Bullish since Friday when it hit a 2 week low at 85.16 and with a close today above both the Daily & Weekly Pivot at roughly 86.80 in Monday's trading, we could see a test of the Daily R1 at 87.82 today.

See where the US Dollar is heading and how it'll affect your favorite Forex pairs here.