Forex Daily Forecast, Analysis and Prediction

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of May 16, 2022.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 16, 2022 here.

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Monero has broken down rather significantly during the trading session on Thursday to reach all the way down to the $120 level.

Neo has fallen slightly during the trading session on Thursday as we continue to see crypto get hammered.

The Euro has broken below the crucial 1.05 level, an area that will attract a lot of attention.

The British pound has fallen hard during the trading session on Thursday to show signs of weakness.

Bitcoin has gone back and forth during the trading session on Thursday as we are trying to figure out where the bottom of the market is.

Gold markets have broken down significantly during the trading session on Thursday, as the 200 Day EMA continues to offer a significant amount of resistance.

The West Texas Intermediate Crude Oil market has been very volatile over the last couple of days, and at the beginning of Thursday, we did see some selling.

The S&P 500 has broken down rather significantly in the futures market as we continue to see a lot of “risk-off” behavior around the world.

The CAC initially tried to rally during the trading session on Thursday, after gapping lower to start the futures market.

The German index has gone back and forth during the bulk of the trading session, as we continue to see a lot of questions asked about the global economy.

Despite the recent stability of the EUR/USD currency pair's performance, the US dollar continued its strength.

The cheery tone of global markets helped correct the heavily sold pound higher, although there is still little conviction among analysts that any bounce will sustain itself in the near term.