Forex Daily Forecast, Analysis and Prediction

Gold prices rose $9.91 an ounce on Friday, up for the sixth straight session to $1303.29, as a softer dollar lured investors back into the market.

Check out our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of October 16, 2017.

Get the Forex forecast for the week of October 16, 2017, featuring which pairs to pay close attention to during the week.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of October 16, 2017.

The EUR/USD pair tried to rally initially on Thursday, but then turned around to form a slightly negative candle.

The WTI Crude Oil market fell significantly during the day on Thursday, testing the $50 level for support. The natural gas market broke higher during the Thursday session, slamming into the $3.00 level.

The US dollar fell during the session on Thursday, reaching towards the 112 level and finding support.

The S&P 500 fell slightly during the session on Thursday, but found support just below the 2550 handle.

Gold prices ended Thursday slightly higher after a quiet session. XAU/USD reached the $1298-$1296 area as expected but was unable to break through.

The US dollar had a volatile session as one would anticipate on Wednesday, with the FOMC Meeting Minutes coming out.

The WTI Crude Oil market initially fell on Wednesday, but found enough support underneath to turn things around and rally.

The EUR/USD pair had a bully session again on Wednesday, as traders push the market above the 1.1850 level.

The S&P 500 initially fell on Wednesday, but turned around to show signs of strength.

The EUR/USD pair broke out to the upside during the trading session on Tuesday, slicing through the 1.18 level.

The WTI Crude Oil market rallied rather significantly during Tuesday’s trading session, breaking well above the $50 handle.