Forex Daily Forecast, Analysis and Prediction

The Australian index fell a bit during the course of the day on Monday, but as you can see I have several things marked on this chart.

The Euro initially tried to rally during the day on Tuesday, but found enough resistance to the 1.12 level to turn things around and form a bit of a shooting star. The British pound initially tried to rally during the course of the day on Tuesday, but the 1.47 level has caused enough resistance to turn the market back around.

The WTI Crude Oil market initially tried to rally on Tuesday but found the $50 level be far too resistive, and as a result we turn right back around to form a pretty negative looking shooting star.

The USD/JPY pair initially tried to rally during the course of the session on Tuesday, but turned right back around to form a shooting star just as we did during the Monday session. The AUD/USD pair also formed a shooting star after initially trying to rally, but as you can see there’s quite a bit of resistance above.

The S&P 500 fell slightly during the day on Tuesday, as we reached a pretty significant resistance barrier in the form of the 2100 level. The NASDAQ 100 initially fell during the day as well, but did bounce enough to form a bit of a hammer.

Get the USD/JPY Forex signal for June 1, 2016 here.

Get the USD/CAD Forex signal for June 1, 2016 here.

Get the USD/CHF Forex signal for June 1, 2016 here.

Get the GBP/USD Forex signal for June 1, 2016 here.

Get the EUR/USD Forex signal for June 1, 2016 here.

The EUR/USD pair has been falling during the entire month of May. However, I think that we have a little bit lower to go, perhaps reaching down towards the 1.10 level which was an area that had previously been resistive.

The GBP/JPY pair rose during the course of the last several weeks, and has exploded above the 158 level which had been so resistive in the past.

The AUD/USD pair has drifted a bit lower during the course of the last several weeks, but I believe that we are more than likely going to see a bit of a bounce from here as we are probably oversold at this point in time.

The EUR/JPY pair has had a very bumpy last couple of months, and I don’t know that is going to change anytime soon.

The USD/CAD pair has been one of the more interesting ones to pay attention to lately, because we have seen so much in the way of volatility when it comes to the crude oil markets.