Forex Daily Forecast, Analysis and Prediction

GBP/USD pair is just as bearish as ever, however, it has reached what looks like a strong area of visual support.

EUR/JPY pair continues to be predictable. In all my analysis I point out that price is riding the daily 5 ema which it has.

Over the last couple of days, the USD/CHF daily chart has given us a strong bullish continuation candle closing just above the resistance level of 0.9000, and then reached a high of 0.9181 during the North American session yesterday.

Based on Doug’s analysis of the EUR/USD, the strength of the USD creates an investment opportunity in the following positions: “Low” or “Below”, “Touch Down” or “No Touch” on the EUR/USD.

EUR/GBP pair made a big move yesterday and starts out today with some space in between current price action and the ema's On the weekly chart we see that the 5 ema is pointing up and setting up to make a cross over the 13 and 21 ema's.

This pair has been extremely bullishh but finds itself just above the 38.2 fib of its most recent drop and up against the weekly 55 ema with a Stochastics in the overbought zone.

An incredibly strong USD continues to drive this pair downward. There is no reason to think this move down is over, it can go on and on.

GBP/USD pair continues its heavy dive down. This is caused by an obviously strong USD and is amplified by the fact that the EUR/GBP has been quite bullish causing GBP weakness.

EUR/JPY pair continues its bearish trajectory to the downside, however, this pair is approaching areas where profit taking may soon come into play.

The Daily candle on the EUR/USD has formed as a nice bearish continuation candle closing at 1.3571, well below our support zone at 1.3650, after reaching a daily high of 1.3797.

Based on Doug’s analysis of the EUR/USD, The weakness in the USD creates an investment opportunity in the following positions: “High” or “Above”, “Touch” or “No touch down” on the EUR/USD.

This pair has reached a 38.2 fib level of the most recent swing low on the weekly chart. The 38.2 is overlapped with the 55 ema and upper Bollinger Band. Stochastics is within the overbought zone. This creates a very bearish feel to me, however, when looking at the daily chart I get an entirely different attitude.

The EUR/JPY continues to maintain its bearish downtrend and is still riding the 5 ema down on the daily chart.

Looking at the EUR/GBP today the longer term charts such as the weekly do not tell me much so I will spend most of my time analyzing this pair on the shorter time frames.

In my EUR/USD Analysis I mentioned that the I see that the EUR has been stronger than the GBP. As strong as it is however, I cannot ignore the fact that it appears to be meeting up with tough resistance.