Forex Daily Forecast, Analysis and Prediction

The EUR/USD has been trading in an increasingly tighter range since January of this year, and as a result will soon reach a point where it will simply have to break one way or the other...my money is on higher.

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The US stock markets closed on mixed territory yesterday on the background of disappointing ADP Non-Farm employment change data, which might indicate that the official data tomorrow will disappoint as well, but we will have to wait and see.

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As the end of the week approaches, see how your favorite pairs have been doing and where they may be headed.

EUR/USD fell hard on Wednesday as the downtrend line continues to keep the bulls at bay. The pair is one that I only sell – and sometimes get grief for doing so – but overall, you can’t help but think that Europe simply isn’t worth bothering with.

USD/JPY rose during the Wednesday session as the 80 level proved to be supportive. The last couple of days have seen this pair try to find a bullish tone, and as a result we now have the market trading above the 80 handle again.

AUD/USD fell for most of the session on Wednesday as the “risk off” attitude came back into the markets in general. As the price of commodities fall, the Aussie will often lose strength, so the move for the session wasn’t exactly shocking.

XAU/USD has been trading in an ever tightening channel making lower highs and lower lows (for the most part) since the beginning of March.

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USD/CHF signal based on Elliott Waves and Fibonacci levels - check it out now to find your position.

See how one trader profited on a binary options platform based on Christopher Lewis's analysis.

Wall Street closed the second day of the trading week in the green zone, as the ISM manufacturing data encouraged the investors. On the beginning of the day it looked like the indices were about to continue the negative momentum from Monday but strong data lifted the markets.

EUR/USD continued to chop around during the Tuesday session as the markets continue to try and digest the latest headlines. The European situation is widely known at this point, and the troubles in places such as Spain, Portugal, Greece, and now France will be part of the focus for market participants in the near term.