Forex Daily Forecast, Analysis and Prediction

The US dollar fell on Friday to reach the 50-day EMA before turning around to show signs of support.

The West Texas Intermediate Crude Oil market rallied a bit during the Friday session to break above the $105 level.

Bitcoin pulled back from the $40,000 level, an area that continues to be a major indicator of confusion, as we are bouncing around in the same vicinity.

Gold markets rallied significantly on Friday to show signs of strength.

The S&P 500 gapped lower to kick off the trading session in the futures market on Friday but then turned around to fill that gap.

Euro trading was rather negative over the last couple of weeks but turned around on Friday to show signs of life at the 1.05 level.

The AUD/USD pair's downward trend continued on Monday morning as investors repositioned for the upcoming interest rate decisions by the Reserve Bank of Australia (RBA) and the Federal Reserve.

The EUR/USD pair is crawling back as investors rush to buy the dip following the spectacular decline in April.

The BTC/USD pair remained in a tight range slightly below the important support of 40,000 even as gas prices jumped.

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of May 2, 2022.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 2, 2022 here.

The USD/INR ended the month of April holding onto bullish gains made in choppy conditions, and as May begins traders of the Indian Rupee will face challenging tests.

Start the week of May 2, 2022 with our Forex forecast focusing on major currency pairs here.

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