Forex Daily Forecast, Analysis and Prediction

Euro/Dollar recoverred back to the top 1.4107 on Friday, sfter chish started declining and closed the week at 1.4050. On the 1 hour chart the support still holds, limiting the currency pair from further bearish movements. In upwards direction a key resistance is 1.4110.

USDCAD rebounds from the lower border of the rising price channel. Moving higher to test 1.1636 resistance is possible later today, a break above this level will signal further rally to 1.1700 zone.

Being contained by the support of the rising trend line on daily chart, AUDUSD rebounds from 0.7789 level. Range trading between 0.7789 and 0.8263 is expected next week.

EUR/USD Open 1.3939 High 1.4134 Low 1.3894 Close 1.3926 Euro/Dollar made a significant decreasing movement on Wednesday. The currency couple made a top at 1.4134, than dropped with around 240 pips down to the 1.3894 bottom, closing the day at 1.3926.

EURUSD has created new support and resistance lines. For now the candles are staying between 1.4131 resistance, and 1.3933 support line.

EURUSD ex-resistance line at 1.3997 was broken and positive trend has started, for now to break this trend, bears needs to push prices at least to the 1.3990 price level.

EURUSD support and resistance lines remain in the same place, but support line is in danger and can  soon be broken. A small gray box is formed, and if candles are going to break from it to the downside – bears will kick out the bulls temporarily from a game.

USDCAD stays in a trading range between 1.1221 and 1.1448. The price action in the trending range is treated as consolidation of uptrend from 1.0784, and further rally is still possible to 1.1550 zone after consolidation.

Euro/Dollar had a moderate increasing momentum on Friday. The currency couple tried to drop, reaching a bottom at 1.3882, than ascended, reached a peak at 1.3998 and closed the week highrt at 1.3938.

EURUSD, like it was stated before, did reverse and this action made channel broken. Selling action is good to take, there is a possibility to wait and get better price for selling rather than now.

EURUSD step by step and heading towards the resistance line at 1.3984 price level. If candles are going to stay above 1.3960 we can be more confident about the bulls. At this situation trend came back to neutral status and we should wait for new possibilities.

GBPUSD stays in the trading range between 1.6209 and 1.6618. A break above 1.6618 will indicate that the uptrend from 1.3654 (Mar 11 low) has resumed, then further rally could be seen to 1.7000 zone.

Euro/Dollar made significant upward movement on Wednesday. The currency couple decreased to the bottom 1.3806, but further bearish impetus was rejected as the European currency rose sharply to the top 1.3977, closing at 1.3943.

EUR/USD Open 1.3827 High 1.3918 Low 1.3748 Close 1.3834 The Euro/Dollar made a significant increasing movement yesterday. The currency couple reached a bottom at 1.3748, rose up to the top 1.3918, and closed the day lower at 1.3834.

The EUR/USD continued decreasing on Monday with over 250 pips lost. On the 1 hour chart the quotes tested the trend line as a support again, which is still holding.