Forex Daily Forecast, Analysis and Prediction

AUD/USD had a relatively quiet session on Wednesday as the pair flirts with the 1.06 level. We're also at the top of an up trending channel, and as such it looks as if we are finally running into significant resistance.

USD/CAD fell during the session on Wednesday in order to break below the bottom of the down trending channel that has been such a prominent feature of this market lately.

EUR/USD had an interesting session on Wednesday as the market originally sold the Euro off and push the pair down to the 1.23 level. However, by the end of the day we saw a bit of a rally which formed a hammer.

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The USD/CHF has been consolidating, not unlike its mirror twin the EUR/USD just above the 62 Day EMA at 0.9660 which also happens to be the 61.8% retracement level for all of July's price action.

EUR/JPY had a rally during the Tuesday session, as the Euro continues to enjoy a little bit of what I would consider to be simply a "relief rally."

The EUR/GBP pair had an interesting session as the markets simply didn't go anywhere. The only reason this matters to me is that we are reaching the very first vestiges of resistance.

EUR/USD attempted to rally during the Tuesday session, but was left wanting to say the least. The candle at the end of the day looks like a shooting star, and the only thing that looks like support at this point in time is the fact that the Monday session was a hammer.

Keep up to date on the EUR/USD pair following the signals that have been previously posted. Good luck.

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After the RBA announced that it would leave the interest rate untouched at 3.5% the AUD/USD spiked to 1.0602, the highest it has been against the USD since March of this year, before pulling back and printing a Pin Bar Reversal on the 1 hour chart off of the Daily R1 at 1.0590.

EUR/GBP had a fairly quiet session by the time the close of Monday came. However, it doesn’t mean that there wasn’t some kind of action.

The AUD/USD pair had a fairly neutral session for the Monday trading day. This pair had recently smashed through a fairly resistive level in the form of the 1.05 handle, and the previous candles form last week that formed shooting stars had me think this pair was going to fall.

The EUR/USD pair fell for most of the session on Monday, essentially as a reaction to the explosive move on Friday. Certainly, with all of the controversy surrounding the European Union, the massive move in the Euro would have been thought to have been a little overdone.

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