Forex Daily Forecast, Analysis and Prediction

As I begin my analysis for the EUR/USD today I begin with the daily timeframe and the first thing I notice is that price is riding the 5 ema downside.

Yesterday I published an analysis about the Loonie being stuck between 2 zones and needed to close above 1.025 .

Those of you that follow my analysis on a daily basis have probably noticed that analysis is based on multiple timeframes as well as multiple pivot points.

The GBP/USD pair is a bit of a mixed bag today. Sure it looks bearish to me and as weak as the EUR has been as of lately the GBP even weaker.

The EUR/JPY has been dropping all week and considering how weak the EUR is as of lately and the fact the JPY seems to be stronger than the USD.

The EUR/USD has been dropping for three straight days, I don't expect today to be any different.

The Swissy continues to keep climbing up and up but I think this up move will soon be deterred by a strong resistance area at .9314 .

The 1.35 level in the EUR/USD has been a sort of “line in the sand” for Euro bulls that continually come in at this level to support this pair. The pair keeps finding itself under serious pressure, but the 1.35 level continues to fight.

The Loonie is stuck between a rock & a hard place...so to speak. Price has tried to push through a weekly resistance zone at 1.025 .

See how one trader used today's Forex technical analysis to win big with binary options.

The Kiwi continues to fall after re-testing the resistance zone of 0.7870 last week. We have broken, & closed below a support zone at 0.7750 and could possibly be heading for a re-test of the 0.7525 level seen in early October.

The GBP/USD is tanking just like all the major pairs. On the daily time frame we are at fib levels to the upside and such fib levels may in fact cause bounces that could very well give up opportunities to short this pair.

Yesterday the EUR/USD tanked. This of course had nothing to do with the USD but everything to do with the EUR. I have mentioned this in my analysis on the other pairs, regarding the Eurozone Debt Crisis.

As with the other pairs associated with the EUR this pair is also tanking. This pair continues to be bearish and will keep being bearish until something happens. The idea is to find an entry point to get in on this trade.

In my analysis yesterday I stated that this pair will drop and it did. On the weekly time frame price has crossed below the 144 ema, however, I can already see some retracement conditions developing.