Forex Daily Forecast, Analysis and Prediction

The Swissy appears to have found some resistance at yesterday's close of 0.9550 after reaching as high as 0.9594 before falling 100 pips to close well below yesterday's open and closing the day at 0.9494.

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The EUR/USD fell again on Friday as the Non-Farm Payroll report came out better than expected. This showed a nice contrast to the situation in Europe as the situation over there continues to get worse.

The CAD/JPY pair fell on Friday as the oil markets slowed down. The pair can often follow the crude markets, and as those markets are looking a bit stagnant, this pair has the ability to fall. It is a matter of simple supply and demand most of the time, as the Canadians export oil, and the Japanese import 100% of their oil.

AUD/USD fell on Friday as the Dollar continues to pick up steam. The pair has recently seen a surge as the Aussie has enjoyed a bit of a safety status as it offers a bit of yield in a world that has little.

The Pacific Peso or AUD/USD is sitting on a weekly Support/Resistance zone at 1.0152 after closing last week with a potential reversal candle that broke the next resistance zone at 1.0383 by only 3 pips and then fell to its current level of 1.0155 (at time of writing).

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GBP/USD fell during the session on Thursday as the consolidation area continues to contain moves by cable. The pair has been stuck between the 1.58 and 1.54 levels over the several weeks, and looks set to respect those areas going forward.

EUR/USD continued to show weakness on Thursday as the Dollar bulls stepped into the market with full force. The bond auctions in the European Union went alright, but weren’t as oversubscribed as traders would have liked in France.

GBP/JPY continued to fall on Thursday as the risk appetite of traders waned yet again. The pair has been decidedly bearish overall, and looks like this theme could continue. However, we have a Non-Farm Payroll report coming out later today that will certainly have its say with the highly risk-sensitive pairs such as this one.

The EUR/CAD has been falling for 8 weeks in a row and this week makes it 9. Looking at a daily chart, we see only 5 candles in those 9 weeks that this pair closed higher than it opened, and of those 4 were either indecision, or consolidation patterns closing only slightly higher than open.

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The EUR/USD fell on Wednesday again as the “risk on, risk off” attitudes of the market continue to wax and wane almost daily. The pair is currently struggling to make any real gains, but is also being held aloft by the support area near the 1.30 mark.