Forex Daily Forecast, Analysis and Prediction

Get the EUR/USD Forex signal for May 13, 2019 here.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of May 12, 2019.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 12, 2019 here.

Check out our weekly Forex forecast focusing on major pairs to pay attention to during the week of May 12, 2019 here.

The Euro rallied a bit during the trading session on Thursday, as we are approaching the US/China trade relations negotiations.

The US dollar shot higher during the trading session against the Mexican peso as there was a huge “risk off” scenario going on.

The US dollar initially fell against the Japanese yen as the S&P 500 got hammered.

The S&P 500 fell rather hard during the trading session on Thursday as we continue to see a lot of risk aversion in the markets.

The WTI Crude Oil market fell a bit during the trading session on Thursday as we got a bit of a “risk off” move to kick off the session, but we did get a bit of a reprieve, bouncing from the 50 day EMA.

Gold markets rallied initially during the trading session on Thursday but continue to show signs of exhaustion near the $1290 level.

On Thursday, markets and investors in FX market will be cautiously focused on the reaction from the comments of Federal Reserve Governor Jerome Powell and the results of US data on jobless claims, PPI and trade balance.

For four straight trading sessions, the GBP/JPY is moving down to the 142.21 support level at the time of writing the analysis, the lowest level for this pair for almost 3 months.

The future bullishness of the USD/JPY depends on the pair to hold above 110.00 resistance.

The AUD/USD is trying to keep its stability around and above the psychological support level at 0.7000 to avoid further downward pressure.

The New Zealand dollar has fallen nearly 1.0% since the start of trading this week.