Forex Daily Forecast, Analysis and Prediction

This pair has been in a trading range for several months without a break out with the exception of a short break out in the first couple of days in August.

EURUSD suggested the likelihood of an upside breakout in previous movements, for now this pair remains more silent than yesterday.

EURUSD looks like bears want to pullback this pair to the lower level, if today this pair can manage to break by a support level at 1.4478 – a long way down can be expected.

The Resistance level of 1.6612 was broken through with great force yesterday, which is a bullish indicator that we may see movement to the next level at 1.7000.

EURUSD did confirm yesterday's analysis, 1.4579 level was broken and bulls did extend their prior movement.

EURUSD did break the resistance level at 1.4516 and a continuation of prior trend is extended. If 1.4579 price level can be broken, another movement should be done to the top side.

There is a resistance area around 1.6600 that has been tested recently and it appears as though the pair may be moving down to test the lower diagonal trend line support level.

EURUSD bulls remains very strongly and is trying to extend their further sharp movements towards 1.4619 price level.

Euro/Dollar made a significant upward movement with around 200 pips on Tuesday as stocks and commodities gained.

The EURUSD has calmed down, and for now is moving along the resistance level at 1.4326. If these candles can stay longer above resistance, bulls has more chances to reach new highs and a continuation of recovery may bring the top side on focus.

EURUSD, after a long way downside, upside movement was the same. At the moment this pair stands as neutral even though previous moves were very positive.

GBPUSD formed a short term cycle bottom at 1.6113 level on 4-hour chart. Further rise to test the resistance of the upper border of the falling price channel is expected later today.

EURUSD a new resistance was created at 1.4326 where the gap between support at 1.4204 and resistance is lowered down comparing to yesterday, however this pair still remains in neutral position.

EURUSD bulls did manage to push back prices above 1.4220 level which was a significant level for both sides.

EURUSD has shown some negative moves, a first sign was a break of support level. At the moment the movement downside can extend, however a 1.4220 level is another barrier for bears.