Forex Daily Forecast, Analysis and Prediction

The S&P 500 fell during the day on Wednesday but found enough support just above the 2375 level to turn things around to form a hammer.

WTI Crude Oil markets continued to sell off during the session on Wednesday, testing a massive uptrend line.

Get the NZD/USD Forex signal for May 4, 2017 here.

Get the AUD/USD Forex signal for May 4, 2017 here.

Get the USD/JPY Forex signal for May 4, 2017 here.

Get the USD/CAD Forex signal for May 4, 2017 here.

Get the USD/CHF Forex signal for May 4, 2017 here.

Get the GBP/USD Forex signal for May 4, 2017 here.

Get the EUR/USD Forex signal for May 4, 2017 here.

Gold prices dropped $18.65 yesterday as the U.S. dollar rallied after the Federal Reserve signaled it was likely to continue raising short-term interest rates gradually this year.

The EUR/USD is still near its highest levels in 5 months, as it has reached towards the top at 1.0937 and is established there at the time of writing.

The GBP was negatively affected by yesterday’s transactions despite a strong improvement in the British Manufacturing Sector.

The USD/JPY is trying to hold on to the gains on top of 112.00 before the announcement of important US data today along with the Federals Reserve’s announcement.

The EUR/USD pair had a positive session on Tuesday, using the 1.09 level as support. The British pound continues to show signs of strength as we are above the 1.29 level again.

The US dollar initially rose against the Japanese yen during the Tuesday session, and even broke above the 112 level. The Australian dollar rallied as well, but then turned around to form a shooting star also.