Forex Daily Forecast, Analysis and Prediction

Gold markets have been very choppy and volatile as of late, and of course the Wednesday session was always going to be interesting as the FOMC released an interest rate announcement and of course statement.

The Euro rallied during the day after initially falling on Wednesday, mainly in reaction to the FOMC statement the came out. The British pound fell a bit initially on Wednesday, testing the 1.30 level.

The US dollar fell significantly during the session on Wednesday as the Federal Reserve released a dovish statement. The Australian dollar initially fell during the day on Wednesday, but found enough bullish pressure after the FOMC statement a break above the 0.80 level.

The WTI Crude Oil market initially fell during the session on Wednesday, but found plenty of support underneath as the US dollar cratered. Natural gas markets had a very choppy and volatile session, and I think that longer-term we are going to continue to see sellers.

The S&P 500 initially was slightly negative during the day on Wednesday, but as the Federal Reserve FOMC statement was coming due, buyers started pushing the S&P 500 higher.

Gold prices rose sharply in afternoon U.S. trading, erasing all of the previous day’s losses, after the Federal Reserve left short-term interest rates

Gold prices are trading slightly higher in afternoon trading Thursday. The XAU/USD pair traded as low as $1254.41 an ounce

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The EUR/USD pair initially when higher during the session on Tuesday, but turned around at the 1.17 level to form a shooting star. The British pound had a very similar day, initially rallying, but fell enough to form a shooting star.

Gold markets had a slightly negative session during the Tuesday session as we crashed back towards the $1250 level.

The US dollar initially fell during the session on Tuesday, but found enough support below the 111 level to turn things around and rally significantly. The Australian dollar had a volatile session, as it continues to bounce around below the 0.80 level.

The WTI Crude Oil market rallied during the day on Tuesday, slicing through the $47 level. Natural gas markets rallied during the day as well, as we continue to see back and 4 types of moves.

The S&P 500 has rally during the day again on Tuesday, reaching to higher levels. We believe that the NASDAQ 100 grinding sideways is a sign of strength, as the 5900 level has been resilient as support.