Forex Daily Forecast, Analysis and Prediction

The GBP/USD price declined for three straight weeks as investors reflected on the latest Bank of England (BOE) and Federal Reserve interest rate decisions.

The EUR/USD pair was little changed in morning hours as the market reflected on the German election and the potential power vacuum.

The FTSE 100 initially pulled back a bit on Friday, but then turned around to form a hammer.

The S&P 500 pulled back a bit on Friday only to find the 50-day EMA supportive enough to turn around and show signs of strength.

The NASDAQ 100 fell a bit last week but then turned around to form a bit of a hammer.

Bitcoin markets crashed again on Friday to reach down towards the recent consolidation area yet again.

The Australian dollar initially tried to rally on Friday, just as we have seen several days in a row.

The gold market initially rallied on Friday but gave back the gains to form the inverted hammer that you see on the chart.

The euro fluctuated on Friday and pierced the 1.17 level.

The British pound initially tried to take out the 200-day EMA on both Thursday and Friday, and therefore sold off quite a bit.

The West Texas Intermediate Crude Oil market rallied again on Friday to close out the week on the right foot.

The size of the candlestick is not overly concerning, so I think this is a nice pullback of a significant breakout.

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