Forex Daily Forecast, Analysis and Prediction

The S&P 500 has initially dipped lower during the trading session on Thursday, but then turned around to rally and form a hammer like candlestick.

The NASDAQ 100 has gone back and forth during the course of the trading session on Thursday, showing signs of trying to build up momentum to go to the upside.

The Euro has rallied a bit during the course of the trading session on Thursday, only to turn around and show hesitation.

The British pound has pulled back ever so slightly during the trading session on Thursday to show signs of consolidation.

The gold markets have gone back and forth during the trading session on Thursday, as we slammed into the major downtrend line that I have drawn on the chart.

The Australian dollar has pulled back a bit during the trading session on Thursday, as the 0.75 level has offered a bit of resistance.

The West Texas Intermediate Crude Oil market has pulled back quite a bit after an extended run over the last couple of weeks.

The USD/BRL continues to traverse need important mid-term highs, and may entice speculative positions from traders who think they know the Forex pair’s short-term direction.

The recent decline of the US dollar allowed the price of gold to move higher and stabilize around the $1790 resistance level for 3 trading sessions in a row.

The British pound continues to rise, with only one loss out of the past five sessions.

The EUR/USD is still trying to rebound higher, but it is dominated by a cautious correction, as the euro is still suffering from weak investor sentiment.

The Japanese yen appears to be at the mercy of US inflation expectations, which means that current selling is likely to stop unless expectations of US interest rate hikes persist.

The USD/MXN has traversed lower again and is within sight of an important support juncture as its short-term bearish momentum has proven to be strong.

XRP/USD gained yesterday with a rather robust amount of velocity as it nearly hit the 1.16500 mark before reversing slightly downwards.

The ETH/USD rocket ship has found and used a higher gear in the past day, climbing past the 4000.00 juncture and seemingly waving farewell to gravity.