Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair has continued to slam back and forth over the last several sessions, and the Monday session wasn’t much different. After all, the Dutch are now finding it difficult to agree on austerity measures, and now there is talk about snap elections in the Netherlands.

The United Kingdom is currently doing reasonably well, and the central bank there is now openly worrying about inflation. This means that higher rates are coming to England before they are in America, and this is one of the most fundamental and basic things that move a pair.

This week should be a big one for this pair. After all, both central banks will have an impact on the markets, as the Federal Reserve has a two day meeting on Tuesday and Wednesday, and the Bank of Japan in meeting later in the week.

The GBP/USD had a great week last week against the Yankee currency the Greenback, climbing some 300 pips from the beginning of the week. Today we had a continuation candle print off of the Support zone of 1.6107, possibly indicating that the British currency aims to go higher.

A trader profited on a binary options platform based on Christopher Lewis's analysis of today.

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

The EUR/USD chart closed the weekly much higher than it opened and printed a bullish engulfing candle off of the strong support zone at 1.3000. While this is typically an excellent indicator that prices will move higher, it does not necessarily happen immediately.

The EUR/USD pair had a bullish session on Friday as the “risk on” attitude came back into the markets for the day. The Spanish managed to sell their bonds this past Thursday, although they had to sell them at slightly higher rates.

The EUR/GBP pair has been fairly bearish over the last several weeks. The pair is a real contrast in fortunes, as the central banks of both economies are at polar opposite places as the European Union has massive problems, while the United Kingdom is showing signs of recovery.

This trader is bullish over the AUD/USD pair. See why here.

The EUR/CAD reversed its descent today, climbing 116 pips in today's trading after rebounding from a Higher low the day before at 1.2929.

The EUR/USD pair has been waiting for the Thursday session for most of the week as far as I can tell.

The GBP/USD pair has been one that is in transition. The British Pound has long been thought of as a currency representative of the weak UK economy.

The USD/JPY pair continues to push higher over the last few sessions, and as a result I am more and more bullish of this pair each day.

Fadi Steitie, part of the DailyForex.com team, shares his insights on AUD/USD based on Fibonacci and Elliott Waves.