Forex Daily Forecast, Analysis and Prediction

The S&P 500 fell initially during the day on Thursday, but found enough support at the 2380 level to turn around and form a nice looking hammer.

The US dollar fell against the Japanese yen initially during the day as a bit of a “risk off” move started. Ironically, in a somewhat “risk off” session, the Australian dollar rallied.

The WTI Crude Oil market rallied on Thursday, breaking above the $47.50 level. The natural gas markets broke above the $3.33 level during the session on Thursday, showing signs real strength and I think we may go looking for the $3.50 level which will be more resistive.

Gold prices rose $5.93 an ounce on Thursday, erasing most of the losses posted earlier in the week, as falling U.S. stocks prompted a bit of safe-haven demand.

The EUR/USD pair initially tried to rally during the day on Wednesday, but found the 1.09 level to be too resistive. The British pound try to break above the 1.2950 level again during the day on Wednesday but turned around to form a shooting star.

The US dollar initially fell on Wednesday, but turned around to form a nice-looking hammer at the top of an uptrend by the time we closed.

The S&P 500 initially fell slightly during the day on Wednesday, but turned around to form a bullish candle. If the S&P 500 looked bullish at the end of the day, the NASDAQ 100 looks even more so

The WTI Crude Oil market exploded to the upside during the day on Wednesday after the Crude Oil Inventories announcement came out much more bullish than anticipated.

Get the NZD/USD Forex signal for May 11, 2017 here.

Get the AUD/USD Forex signal for May 11, 2017 here.

Get the USD/JPY Forex signal for May 11, 2017 here.

Get the USD/CAD Forex signal for May 11, 2017 here.

Get the USD/CHF Forex signal for May 11, 2017 here.

Get the GBP/USD Forex signal for May 11, 2017 here.

Get the EUR/USD Forex signal for May 11, 2017 here.