I like to analyse forex currencies based on the daily, weekly, monthly charts. The daily chart below shows some slow down in upward momentum (ie Euro is becoming stronger, pound strength is slowing). This you can see by the MACD and Stochastic indicators. (if you want to learn more about them I explain that below).

In the weekly chart of the above, where each bar is a week’s worth of price movement not a day. You see this more clearly which is why I always look at the weekly chart – albeit it is very early.

But the monthly chart tells us that longer term any falls in the pound and strengthing of the Euro is short lived because the momentum indicators are strongly pointing up.

I used www.sharescope.co.uk/alpesh for prices and charts and tools above. Finally for education if you want to learn more about how to forecast: www.investingbetter.com