Forex Daily Forecast, Analysis and Prediction

The WTI Crude Oil market initially tried to rally during the session on Thursday, but turned around to show weakness yet again. Natural gas market fell during the day on Thursday as we continue to teeter around the 2.80 handle.

The US dollar did very little against the Japanese yen on Thursday, but interestingly enough found a lot of support at the 113 handle. The Australian dollar fell slightly against the US dollar during the Thursday session, as the 0.77 level offered resistance.

The S&P 500 trying to rally during the session on Thursday but continues to find resistance just below the 2400 level. The NASDAQ 100 tried to rally during the Thursday session, and even made a fresh, new high at one point.

Gold rose for a second straight session on Thursday as weakness in the dollar bolstered demand for the precious metal.

Get the NZD/USD Forex signal for March 16, 2017 here.

Get the AUD/USD Forex signal for March 16, 2017 here.

Get the USD/JPY Forex signal for March 16, 2017 here.

The GBP/USD gains extended towards 1.2308 during yesterday’s session after the Fed decided to raise the rates to 1.00% and spoke about more hikes during the year.

Unexpectedly, the USD/JPY loses extended to almost 200 points, after the Federal Bank announced to raise the US rates, and mentioned that they are ready for two more rate hikes during the year.

Before the Federal Bank announced raising the US interest rates, the Gold prices were around 1200$ an ounce.

Get the USD/CAD Forex signal for March 16, 2017 here.

Get the USD/CHF Forex signal for March 16, 2017 here.

Get the GBP/USD Forex signal for March 16, 2017 here.

Get the EUR/USD Forex signal for March 16, 2017 here.

Gold prices ended Wednesday’s session up $20.45 as a softer dollar lured investors back into the market.