Forex Daily Forecast, Analysis and Prediction

It is increasingly likely that we have seen a major trend reversal.

Polkadot had a very volatile trading session on Friday, but the sellers came back and punished anybody trying to pick it up.

Cardano fell again on Friday to reach the $0.43 level.

The euro initially tried to rally on Monday but pulled back a bit from the highs.

The British pound rallied initially on Friday but gave bank gains to end up forming a bit of a shooting star.

Bitcoin fell a bit on Friday again, as we continue to see a crypto slump.

The gold market rallied during the early hours on Friday but gave back gains quite significantly.

The West Texas Intermediate Crude Oil market initially pulled back just a bit on Friday but turned around to show signs of life again.

The S&P 500 rallied significantly on Friday as we continue to see more of a “risk-on rally” in the market.

The US dollar kicked off the Friday session by selling off against the Indian rupee but then turned around to recover some of the losses.

The Singapore dollar was strong against the US dollar over the last several days.

The GBP/USD pair maintained its bullish trend as the strong US dollar takes a breather.

The BTC/USD price remained in a tight range as the pair continued to decouple from American stocks.

The AUD/USD pair continued its recovery pace on Monday as investors eye important economic data from Australia.

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of May 30, 2022.