Forex Daily Forecast, Analysis and Prediction

Start the new trading week of September 30, 2019 prepared with our Forex forecast for major currency pairs here!

The NASDAQ 100 initially fell during trading on Thursday but found enough support underneath the 50 day EMA to turn around of form a nice-looking hammer.

The US dollar initially fell during the trading session on Thursday but then turned around to show signs of life again.

The British pound went back and forth during the trading session on Thursday, as we are bouncing around the 50 day EMA.

The Euro initially tried to rally during the trading session on Thursday but then rolled over again to reach towards the bottom again.

The Australian dollar initially tried to rally during the day on Thursday but has sold off later in the day as we continue to see a lot of noise in general.

The West Texas Intermediate Crude Oil market initially fell during the trading session on Thursday but has seen a bit of a bounce to form a hammer yet again as it did during the previous session.

Natural gas markets initially tried to rally during the trading session on Thursday but broke down rather significantly after a larger than expected inventory number out of the United States.

Bitcoin markets tried to rally to kick off the trading session on Thursday but as you can see on the chart we have sliced through the 200 day EMA.

Gold markets have gone back and forth during the trading session on Thursday, stabilizing near a major support level.

The S&P 500 is likely to bounce from here, suggesting that there is plenty of resiliency left in the marketplace.

Following a contraction into the top range of its support zone, the USD/CHF reversed direction and accelerated to the upside.

Bearish momentum in the EUR/JPY is receding as the current sell-off took this currency pair into its short-term support zone.

The British Pound is likely to face more downside pressure as Brexit uncertainty and political turmoil will cause more profit taking.

Yesterday’s industrial production data out of Singapore showed a much bigger contraction in August than economists anticipated which resulted in a sell-off in the Singapore Dollar.