Forex Daily Forecast, Analysis and Prediction

The US dollar has pulled back just a bit during the trading session on Friday against the Brazilian real.

It was a very choppy trading session on Friday in the US dollar against the South African rand.

May be resistance in $1.0881 area.

The Aussie dollar initially pulled back just a bit during the trading session on Friday, but then turned around to show signs of strength against the Swiss franc as we continue to go higher.

The euro has rallied significantly during the trading session on Friday, as we continue to see the Japanese yen suffer at the hands of other currencies.

The GBP/USD surged to its highest point since March ahead of the crucial UK retail sales and inflation data.

Bitcoin price stalled during the weekend after staging a strong recovery late last week.

The AUD/USD exchange rate continued its bull run last week as the US dollar index (DXY) plunged to its lowest level in more than a month.

The 1.08000 ratio in the EUR/USD was penetrated higher on Tuesday the 14th of May and prices were sustained above this key psychological level the remainder of the week.

Risk-on sentiment recovers firmly after last Wednesday’s lower than expected US CPI print, sending major stock indices to new record high prices.

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.