Forex Daily Forecast, Analysis and Prediction

See the mid week summary of your favorite major pairs, get updates and see where they may lead the rest of the week.

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EUR/USD has been the focal point of the Forex universe lately. Needless to say, the whole situation in Greece has been on the minds of traders worldwide, and the pair has been very susceptible to headline shocks because of it. In this backdrop, we find this pair to be very choppy overall.

USD/CHF is a quiet pair, and one that many traders are currently ignoring. The pair has a tendency to grind sideways for some time, only to move suddenly and go dormant for another protracted period.

USD/JPY was a pair that nobody wanted anything to do with for months. The Bank of Japan was actively working against the value of the Yen via intervention, and as a result many traders simply wouldn’t be bothered to sell this pair.

The Swissy or USD/CHF is stalled on the support one of 0.9110 once again. Prices have been struggling to break this support level since January 27, 2012 and struggled with this zone in November and December of 2011 as well.

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See this free 30 minute signal from the experts at ForexRoyals as they bring you today's GBP/USD action.

Here is a free Forex EUR/USD signal from the experts at ForexRoyals. Get your target and stop loss now.

At the open, the EUR/USD pair gapped up based upon – let me know if you have heard this before – a potential workaround for the Greek debt crisis. In theory, the Europeans are about to give the Greeks another handout, and this will in turn make everything alright again.

USD/CHF has been bouncing around the current levels for quite a few sessions lately, and the level does in fact look strong. With this in mind, the pair hasn’t exactly been overly exciting, but this is the case with all Franc-related pairs as the Swiss National Bank has been actively working against the ascendency of the Franc.

USD/JPY has been a pair that until recently would have put you to sleep trading. The pair has seen a fairly narrow range of trading as traders and the Bank of Japan were in a virtual standoff.

The NZD/USD or Kiwi as most traders know it is retesting the support level at 0.8350 in the hour leading up to the London open. The pair has been trading in a roughly 180 pip range since the beginning of February, and up until now has been mostly been hitting 0.8350 as resistance.

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