Forex Daily Forecast, Analysis and Prediction

Yesterday Euro/Dollar attempted to drop, reaching a bottom at 1.4001, but further decreasing momentum was limited and the currency couple rose to the top 1.4190, closing the day at 1.4141.

AUDUSD stays above the rising trend line on 4-hour chart and remains in short term uptrend from 0.7789. As long as the trend line support holds, we’d expect uptrend to continue and further rally is possible to 1.8200 zone in a couple of days.

EUR/USD Open 1.4038 High 1.4150 Low 1.4001 Close 1.4034 Yesterday Euro/Dollar corrected downwards. The currency couple increased to the top 1.4150, but further bullish scenario was limited and it dropped with 150 pips to the bottom 1.4001, closing the day at 1.4034.

EURUSD gone back where they were before and that is neutral position, no trend yet. Bulls were not able to keep up their strength and they had to surrender against bears by sharp move down.

USDCAD stays in the rising price channel on 4-hour and remains in uptrend from 1.0940. The price action in the trending range between 1.1418 and 1.1636 is treated as consolidation of uptrend.

Euro/Dollar rose on Monday. The currency couple reached the 1.3983 bottom, from where it started climbing, closing the day at 1.4077.

EURUSD has touched the resistance line at 1.4111 price level, but it just bounced back and now it is going for support line, soon or later we are going to see a break out from this prices range.

Euro/Dollar recoverred back to the top 1.4107 on Friday, sfter chish started declining and closed the week at 1.4050. On the 1 hour chart the support still holds, limiting the currency pair from further bearish movements. In upwards direction a key resistance is 1.4110.

USDCAD rebounds from the lower border of the rising price channel. Moving higher to test 1.1636 resistance is possible later today, a break above this level will signal further rally to 1.1700 zone.

Being contained by the support of the rising trend line on daily chart, AUDUSD rebounds from 0.7789 level. Range trading between 0.7789 and 0.8263 is expected next week.

EUR/USD Open 1.3939 High 1.4134 Low 1.3894 Close 1.3926 Euro/Dollar made a significant decreasing movement on Wednesday. The currency couple made a top at 1.4134, than dropped with around 240 pips down to the 1.3894 bottom, closing the day at 1.3926.

EURUSD has created new support and resistance lines. For now the candles are staying between 1.4131 resistance, and 1.3933 support line.

EURUSD ex-resistance line at 1.3997 was broken and positive trend has started, for now to break this trend, bears needs to push prices at least to the 1.3990 price level.

EURUSD support and resistance lines remain in the same place, but support line is in danger and can  soon be broken. A small gray box is formed, and if candles are going to break from it to the downside – bears will kick out the bulls temporarily from a game.

USDCAD stays in a trading range between 1.1221 and 1.1448. The price action in the trending range is treated as consolidation of uptrend from 1.0784, and further rally is still possible to 1.1550 zone after consolidation.