Forex Daily Forecast, Analysis and Prediction

The WTI Crude Oil market gapped higher at the open on Monday, as it was announced that the Saudi Arabian oil minister believes that most, if not all OPEC members are willing to extend the production cuts.

The USD/JPY pair initially tried to rally on Monday, but turned around to fall significantly. The Australian dollar had a positive session after initially falling, and finding support.

The S&P 500 continues to rally, as the Monday session was very bullish. The NASDAQ 100 rallied again during the day on Monday, reaching towards the 5700 level, an area that of course has a certain amount of psychological resistance.

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Get the USD/CHF Forex signal for May 23, 2017 here.

Get the GBP/USD Forex signal for May 23, 2017 here.

Get the EUR/USD Forex signal for May 23, 2017 here.

Gold started the week on a positive note, testing the $1265/1 area after the market found support just above the $1250 level.

Get the NZD/USD Forex signal for May 22, 2017 here.

Get the AUD/USD Forex signal for May 22, 2017 here.

The EUR/USD pair exploded to the upside on Friday as we continue to see the US dollar get pummeled. The British pound rallied on Friday, breaking above the 1.30 level again.

The WTI Crude Oil market had a very strong Friday, as we broke above the 200-day moving average finally.

The USD/JPY pair had a reasonably quiet session during Friday, as we continue to grind overall. The Australian dollar rallied during the day on Friday, almost taking out the top of the shooting star from the Thursday session.

The S&P 500 had a bullish session on Friday, breaking above the top of the range from Thursday after the massive selloff on Wednesday.

Get the USD/JPY Forex signal for May 22, 2017 here.