Forex Daily Forecast, Analysis and Prediction

The AUD/USD pair fell significantly during the Thursday session, and even managed to close below the 1.03 level which I had as significant support.

USD/CAD rose during the Thursday session as the market continues to look rather supportive. The oil markets fell slightly, and as such it looks like the Canadian dollar is due for a little bit of a pullback in its strength.

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The EUR/USD pair pulled back during the Wednesday session as the Euro continues to consolidate right around the 1.25 level. This area is the beginning of massive resistance All the way to the 1.27 level, and as such it does look like the next 200 pips will be much more difficult than the last 200.

GBP/USD had a very volatile session on Wednesday as the markets simply went nowhere in the end. At the close, we were fairly unchanged and it appears that the market is currently waiting.

NZD/USD fell on Wednesday as the pair fell down to the 0.80 support level. The area is obviously a major number for the markets, and as such it's no surprise that this level offered a bit of support.

The AUD/CHF has broken a key support level at 0.9950 and entered a Technical Vacuum, well below the 62 Day Moving Average at 1.0003 . The pair has been trending lower since making a new four and a half year high on August 02 of 1.0348.

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Last week the Sterling, or GBP/USD, broke out of the box it was trading in between 1.5450 + 1.5750 for the past 90+ days.

USD/JPY fell during the session on Tuesday as the pair continues to test the support zone just above the 78 handle. This area is the same general vicinity that the Bank of Japan had recently admitted to intervening at clandestinely.

EUR/USD had a fairly eventful session on Tuesday, as it originally fell only to turn around and pop much higher. While we haven't made a new high yet, it does show a certain amount of resilience of the 1.25 level.

EUR/GBP had a positive session on Tuesday as the Euro continues to show gains. This is an interesting turn of events for me personally, as I have noticed that the British pound seems to be picking up steam again.

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In spite of lower than expected numbers from the Canadian housing markets and retail sales last week, the Loonie appears to be continuing to strengthen after breaking through .9900 and pulling back to the Monthly S1 at 0.9941.