Forex Daily Forecast, Analysis and Prediction

The price of WTI Crude Oil went into this weekend near the 79.460 ratio; this after a low around the 76.700 value was touched on Wednesday.

Get the weekly Forex forecast for major currency pairs for the week of May 19-25, 2024 here.

The Australian dollar initially fell during the trading session on Thursday but has seen a complete turnaround as we have rallied to test the top of the breakout candlestick from the Wednesday session.

The US dollar initially rallied against the Mexican peso during the trading session on Thursday but has given back some of the gains.

The S&P 500 has rallied a bit during the early hours on Thursday as we continue to see upward pressure.

The euro has bounced a bit after initially selling off on Thursday as the 50-day EMA continues to attract a certain amount of attention.

The Australian dollar has been all over the place during the trading session on Thursday, as we initially tried to rally, but then turned around to show signs of negativity.

The NASDAQ 100 rallied again during the early hours on Thursday as we continue to see plenty of momentum.

The US dollar rallied a bit during the trading session on Thursday, as the 1.36 level has offered a significant amount of support and resistance over the last several months.

The British pound initially trying to rally during the session in the early hours of Thursday but has turned back around to show signs of hesitation.

Bitcoin has stalled a little bit at the $66,000 level, which is an area that has been important previously.

Gold has pulled back from the crucial $2,400 level during trading on Thursday, which is an area that has been important multiple times.

The USD/TRY pair maintained its limited movements, stabilizing within a descending triangle pattern on the four-hour time frame, as shown in the chart.

The EUR/USD currency pair has risen to a resistance level of 1.0895, the highest level in nearly two months, as expectations of a convergence in monetary policy between the US and Europe grow.

For the second consecutive day, the USD/JPY currency pair is trading under selling pressure, pushing it towards the support level of 153.59 this morning.