Forex Daily Forecast, Analysis and Prediction

The New Zealand Dollar has been under a serious pressure lately. First, the devastating earthquake in Christchurch dimmed the country economic prospects, which was immediately reflected in its currency.

On Tuesday, the GBP-USD tested the resistance of 1.6300, set by a prior important high. One could say, the cable failed this test – it poked above the resistance, but retraced quickly and closed the day at 1.6265.

The Canadian Dollar picked up momentum recently, by some accounts, in response to the rising crude oil prices. But that's not the whole story.

With the recent events in the Middle East and the North Africa, came renewed attention to the commodity currencies. Find out what this means for Forex traders.

In the aftermath of the earthquake in New Zealand, the country’s currency became significantly weaker in relation to others. What does this mean for Forex traders?

During the preceding few months, the CHF-JPY has been one of the least volatile currency pairs. Both the Japanese Yen and the Swiss Franc have been moving in roughly the same direction, meaning the cross rate between them did not change much.

After a seemingly endless bull market, the British Pound – Swiss Franc pair have staged a rally this year.

One of the longest, and the strongest, trends present in the currency markets during the last few years took place in the Euro-New Zealand Dollar pair.

The Canadian Dollar has been one the most dominant currencies during the last few weeks. While there were no massive rallies in its pairs, in most cases the CAD appreciated in a steady manner, as much as a few hundred pips.

The larger picture of the Euro-British Pound is not clear at all, with every major price swing getting smaller.

The Australian Dollar has slowed down its torrid advance recently. After making an all time high at 1.02555, it fell to 0.9800 in early January.

The last few weeks have brought some strong moves in the Euro – Canadian Dollar pair. In January, the Euro surged and pushed this pair to 1.3775, while so far in February, responding to renewed strength in the Loonie, the price dropped over 500 pips, to 1.3212.

After sinking to an all time low of 0.9299 at the end of December, the USD-CHF has been trying very hard to reverse. The market rallied to about 0.9785, pulled back and made another attempt, which stalled at 0.9775 late last week.

Not that long ago, in late December 2010, the Australian Dollar – New Zealand Dollar was in a strong bullish trend.

The long-suffering British Pound might be turning the tide. Following prolonged downtrends, it made multiple all time lows in relation to many other currencies.