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[B]As the week advances, the calendar gets more crowded, especially in the US. ADP Non-Farm Payrolls and the FOMC minutes are among the important indicators today. There are many important events elsewhere. Let’s see what’s up for today.[/B]

British Nationwide Consumer Confidence starts the day right at the beginning. After many months of steady growth, it’s predicted to drop from 73 to 72 points.

Later in Britain, Services PMI is predicted to follow the Manufacturing PMI on Monday and rise as well – from 56.6 to 56.8 points. For more on the British Pound, read the [B][URL="http://www.forexcrunch.com/category/forex-weekly-outlook/gbp-usd-outlook/"]GBP/USD forecast[/URL][/B].

The Australian dollar ...

[B]Bias: [/B] While 1.4372-89 caps the risk remains lower for 1.4264 and 1.4217 again

I would like to think that we're on our way lower - the only concern in my mind being the 2 week time frame expected to reach the expected low. For today as long as the 1.4372-89 area caps I feel we can see another attempt lower. From there a break below the 1.4334 low should extend losses to 1.4264. There is a good chance this will support for a pullback. However, expect it to later break and for a retest of the 1.4217 low... I doubt we'll get an aggressive push lower but note the next major support at 1.4123.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the ...

Attached Files

• The Brief Daily Forecaster.pdf (25.2 KB, 138 次查看)

EURUSD Forecast: False breakout, potential downside pressure
The EURUSD attempted to push higher yesterday, slipped above 1.4450, topped at 1.4483 but further bullish momentum was rejected as price whipsawed to the downside, bottomed at 1.4346 and closed at 1.4363. On h4 chart below we can see that this was a case of a false breakout which usually trigger bearish pressure testing 1.4250 area. We need the price to close below that area to confirm the bearish scenario testing 1.4127 – 1.4000 this week. Immediate resistance at 1.4400 – 1.4450 area.



GBPUSD Forecast:
The GBPUSD had a significant bearish momentum yesterday by break below 1.6040 area, bottomed ...

GBPUSD broke below 1.6040 support, suggesting that a short term cycle top has been formed at 1.6238 level on 4-hour chart. Now the fall from 1.6238 could possibly be resumption of downtrend from 1.6875 (Nov 16 high). Deeper decline towards 1.5708 (Oct 13 low) is now in favor. Key resistance is now located at 1.6238, only break above this level could indicate that the fall from 1.6875 has completed.



Daily Forex Forecast