Forex Daily Forecast, Analysis and Prediction

The EUR/USD pair rallied slightly during the day on Wednesday, as we continue to bounce around in the neighborhood of the 1.12 level.

The WTI Crude Oil market continues to grind sideways, as the market looks likely to continue to go sideways until we get the announcement coming out of OPEC as far as production cuts are concerned.

The US dollar initially rallied on Wednesday against the Japanese yen, you can see that there has been a significant amount of noise between the 112 and the 112.50 level.

The S&P 500 rallied during the day on Wednesday, as we are trying to test the top of the recent range. The NASDAQ 100 rose during the session on Wednesday as well, and even made a fresh, new high.

Get the USD/CAD Forex signal for May 25, 2017 here.

Get the USD/CHF Forex signal for May 25, 2017 here.

Get the GBP/USD Forex signal for May 25, 2017 here.

Get the EUR/USD Forex signal for May 25, 2017 here.

Gold prices ended Wednesday’s session up $7.28 as the dollar weakened after the minutes of the Federal Reserve’s latest policy meeting showed some central bankers were watching for evidence.

Get the NZD/USD Forex signal for May 24, 2017 here.

Get the AUD/USD Forex signal for May 24, 2017 here.

Get the USD/JPY Forex signal for May 24, 2017 here.

The EUR/USD pair pulled back from the 1.12 level, as we have been a bit overbought as of late. The British pound initially rally during the day on Tuesday but found the area above the 1.30 level to be a bit resistive, as we fell again.

The USD/JPY pair initially fell during the day on Tuesday, but found enough support near the 110.70 level to turn around and form a supportive looking candle.

The S&P 500 initially fell during the day on Tuesday, but found enough support below to turn things around and form a hammer. The NASDAQ 100 has also recaptured most of the losses, and it’s only a matter of time before we break out to the upside.