Forex Daily Forecast, Analysis and Prediction

As you can see, the Nasdaq 100 has pulled back to show signs of weakness and then turned around to show signs of life.

The S&P 500 initially fell during the early hours on Friday, but we have turned around to show signs of life.

The dollar yen initially pulled back a bit during the trading session on Friday as traders got out of the path of the Bank of Japan meeting.

Silver continues to be very noisy, and we have been all over the place on Friday.

The AUD/USD pair rose last week as the US dollar ended its recent comeback. It was the first weekly gain in three weeks.

The German DAX has rallied rather significantly during the Friday session to in the week on a positive note.

Bitcoin price remained in a consolidation phase on Monday, continuing a trend that has been going on in the past few weeks.

The Ethereum market pulled back just a bit during the trading session on Friday, as we continue to see a lot of noisy behavior.

The EUR/USD exchange rate formed a bearish engulfing pattern after last week’s economic numbers from the US raised stagflation concerns.

The GBP/USD pair wavered on Monday morning even as hedge funds and other speculators turned bearish on sterling.

The downwards selling in the GBP/USD continued early last Monday, but then a reversal upwards started to be seen.

WTI Crude Oil finished the week of trading near the 83.640 level, this after attaining a high earlier on Friday near the 84.450 mark.

Get the weekly Forex forecast for major currency pairs for the week of April 29- May 4, 2024 here.

The British pound has shot higher during the course of the trading session on Thursday, as we continue to see a lot of upward momentum.

The DAX fell significantly during the course of the trading session on Thursday, as went now looks like we are threatening the 50-Day EMA indicator.