Forex Daily Forecast, Analysis and Prediction

Britain's emergency budget allowed the Pound to stay away from a complete reversal in trend to the downside.

Each technical indicator on the daily chart still has left room for the EUR/USD to fall a bit further.

Giving a boost by the Chinese Yuan revaluation, EUR/USD continue to perform relatively well.

Bollinger Bands, Full Stochastics, StochRSI and RSI in unison with price action are ready for the EUR/USD pair to have closed down from where it is now in twenty-four hours.

The EUR/USD pair is in an intermediate term bullish trend, with no sign of reversing.

After reaching the 1.1700 level, the USD-CHF has been retracing for a better part of the last two weeks.

The technical analysis is on cross roads of both directions regarding the EUR/USD pair.

Today the technicals tell a prelude about the EUR/USD pair that is due to plummet, with three of them over their centerlines and the stalwart RSI on the fence.

With news both yay and nay for America's Dollar, we will turn to the technicals for guidance in our time of need today.

Currently the EUR/USD pair is trading within a well-defined upward channel. In retrospect it is in a short term uptrend. You know what the markets say- “trend is your friend.”

The hourly chart of the CAD-JPY is developing a possible "head and shoulders" formation. The head and shoulders pattern tends to be more reliable than many other chart formations and is worth paying attention to.

Risk rally is helping to take all of the high yielding beta currencies higher. Aussie is among currencies which is savagely pushing to the upside.

A trio of technicals stands bravely against two mighty news items, both lined up favoring the EUR/USD rising up on the charts today.

Based on the candlesticks and other technical indicators, the NZD/USD could resume its previous downtrend.

While all of other higher beta currencies have already cleared their respected resistance levels to formulate a proper bottom, GBP/USD is lagging way behind.