Forex Daily Forecast, Analysis and Prediction

Starting with the daily chart for this pair we seem to be in a range. We are up against the descending trend line and price seems to be slowly rolling over.

Beginning my analysis for this pair I start off today with the daily chart. Price has found its way back inside the trap it was in previously and price seems to be drifting down.

Just about any pair connected to the CAD saw some big movement yesterday. Thanks to a sheepish rate statement from the Bank of Canada the Loonie fell relative to the Greenback.

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This pair has been looking tricky to me. I am watching this pair very closely. On the daily chart we keep rising, however, we are re-approaching the price channel we recently broke out of which also coincides with a 61.8 fib zone.

This pair has been in a range as of lately and has been sitting on strong support. Starting out looking at the daily chart for this pair I see price has been riding along the daily 13 and 21 ema's overlapped with each other.

The Swissy continues its drop from the near 50.0 fib level it made a couple weeks ago. On the daily chart the 5 ema has crossed below the 233 ema and the lower Bollinger band is open and pointing downward.

Starting out my analysis for this pair on the daily chart price is still riding the 5 ema up but has come into contact with the 233 ema. This of course will cause a bit of a pullback on a lower time frame but ultimately I believe price will continue on until 1.4 before it hits any major resistance.

After trading sideways for over a week between 78.07 and 79.58, this pair appears to be breaking to the upside with today's bullish candle closing above the decending trend line at 79.60.

Today the EUR and GBP appear to be weak against the CHF. I start out my analysis for the EUR/GBP on the daily chart and I can see the 5 ema is crossing down below the 13, 21 and 233 ema's and the stochastic is pointing down.

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Starting out with the weekly chart I see a combination of bearish and bullish indications. The bearish indication is that price is at a 50.0 fib level overlapped with a 55 and 21 ema.

I will start out with this pair taking a brief look at the weekly chart. Last week price fell to the 233 ema then bounced. It seems to be heading back up, however, tough resistance does stand in its way.