Forex Daily Forecast, Analysis and Prediction

The Euro was rocked back and forth during the trading session on Thursday, as the United States announced fresh tariffs against the European Union consisting of 25% for steel, and 10% for aluminum.

The last day of May was a bit noisy in the USD/JPY pair as we continue to bounce around just below the ¥109 level.

The WTI Crude Oil market fell rather hard during the trading session on Thursday, especially once we started talking about tariffs coming from the United States and applied towards the Canadians, Mexicans, and Europeans.

Bitcoin rallied again during the day on Friday, after initially pulling back on Thursday.

The S&P 500 broke down significantly during trading on Thursday as it was announced that the Americans would be slapping tariffs on the Canadians, the Mexicans, and the Europeans.

The EUR/USD pair has broken down significantly during the month, losing over 500 pips.

The Australian dollar has been very noisy over the last several months, but as you can see we ended up forming a hammer right above the 0.75 level for the month of May.

The British pound has broken down significantly during the month of May, breaking below a major uptrend line.

The US dollar has gone back and forth during the trading sessions that make up the month of May, bouncing around in a relatively tight range.

The US dollar had a slightly positive month against the Canadian dollar but has turned around rapidly on the 30th as the Bank of Canada has suggested that interest rate hikes are coming after all.

Get the NZD/USD Forex signal for May 31, 2018 here.

Get the AUD/USD Forex signal for May 31, 2018 here.

Get the USD/JPY Forex signal for May 31, 2018 here.

Get the BTC/USD Forex signal for May 31, 2018 here.

The EUR/USD pair has rallied significantly during the trading session on Wednesday in perhaps reaction to the slight progress made in forming a government in Italy.