Forex Daily Forecast, Analysis and Prediction

Based on Christopher Lewis and Bastian Rubben's analysis a traders profited on a binary options platform, watch here.

The US futures are down this morning after a negative closing last week that came in the first time in several weeks. However, the indices reached levels in which the bullish reversal could occur and if they rise above Friday's high, it will support the buyers.

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

The EUR/USD pair continues to grind around just below a resistance area as the concerns in the European Union are fading into the background of the collective mindset of traders. Get the full analysis here.

One of the choppiest pairs in the Forex markets lately has been the USD/CAD pair. The main reason is probably the drama that we have seen in the Middle East lately, and especially with the Iranians. See where this pair is headed.

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The AUD/USD pair has been beaten up over the course of the last few weeks, as the fears of a Chinese slowdown rocked the risk appetite around the various Forex, futures, and stock markets. The “slowdown” would be from a growth rate of 12% to “only” 7%, which of course would be phenomenal if we were talking about anywhere else in the world.

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The USD/CAD daily chart printed a perfect 'Pin Bar' or 'Shooting Star' formation after Friday's trading action. This strong reversal pattern printed by closing below both the Daily Pivot level at 0.9990 and the Daily Moving Average of 0.9991 after testing the waters as high as 1.0336.

EUR/USD fell for most of the session on Thursday as the fears of a Chinese slowdown continue to circulate around the various financial markets globally.

The NZD/USD pair has been a tough one to trade lately. The market has been pushed around between the “risk on, risk off” theories. The commodity markets have been reacting to various headlines coming out of China, Europe, and elsewhere.

USD/CAD rose on Thursday as the oil markets sold off. The Chinese manufacturing numbers have been soft, and the addition of slower European manufacturing numbers did very little to instill confidence in the oil markets.

The GBP/USD tested the Weekly Pivot once more in yesterday's trading and appears to be forming a classic Head & Shoulders chart pattern on the Daily chart.

Check out this EUR/USD signal based on a head and shoulders formation and find your entry and target in the market now.

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