Forex Daily Forecast, Analysis and Prediction

Price has fallen down to the 21 and 13 ema's, however, the USD has recently picked up strength and the stochastic is in the overbought zone.

A drop of a motive wave with a bounce of flat correction. We are here at motive wave C after wave A and B folded.

The EUR/USD pair made some bullish movement in yesterdays trading, but could not hold off the bears.

I start out with this pair looking at the weekly chart and it is obvious that price recently made a 38.2 fib of the recent swing down, overlapped with a 38.2 fib.

I start my analysis for this pair looking at the daily chart. The GBP has appeared to be a bit weak compared to the EUR but the USD has been extremely weak since yesterday so there is very little reason for this pair not to continue its hike upward.

I start out my analysis for this pair with the daily chart and it appears that price has rolled over beneath the ema's and it appears as though the ema's want to push price through the ascending trend line which could very well constitute a breakout to the downside.

This pair continues to look very bullish, however, this pair is approaching a few layers of resistance that could trigger some profit taking and force price back down a bit.

This pair looks extremely bullish. Starting with the EUR/CHF daily chart price is maintaining above the 5 and 13 ema's. On the 4 hour, 1 hour and 15 minute charts price is above the ema's and on the hourly and 15 minute charts the upper Bollinger band is wide open and pointing up.

With most of the major pairs locked in a range of sorts today, one might look elsewhere for potential trades and to gauge the markets. Today I am looking at the EUR/AUD pair as it has potential to continue its bearish run.

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If it weren't for the fact that this pair is so closely correlated with the EUR/USD I could be kind of lost tonight but it is closely correlated and since the EUR/USD appears to be bullish to me and the USD/JPY is range bound I will maintain a bullish bias on this pair today.

For this pair today I will start out taking a quick look at the weekly chart which has a mixed look to itself. On the weekly, price has been range bound.

Analyzing this pair today and looking at the weekly chart I see that we are in the midst of a fib war. Price seems to be trapped in between a 50.0 fib of the last move up and a 50.0 fib of the recent swing down.

Read a weekly prediction for EUR/USD based on Ichimoku Kinko principles and chart patterns, detailed and explained by a Forex expert.

Looks as though the EUR/CHF is struggling to break the descending trend line above it. On the daily chart the 5 ema seems to be rolling over and all the ema's are very close to each other as well as the stochastics in the overbought zone.