Forex Daily Forecast, Analysis and Prediction

Bitcoin price staged a strong recovery in the past few days as a sense of calm returned to the market.

The Euro shot higher during the trading session on Friday, but we turned around to show signs of hesitation.

The British pound has fallen again during the trading session on Friday, to seeing the crucial 50-Day EMA.

Gold was all over the place during the trading session on Friday as the jobs numbers came out lower than anticipated.

The crude oil markets initially tried to rally during the trading session on Friday, but then turned around to show signs of weakness.

Silver initially fell significantly during the trading session on Friday, but then turned around to show signs of hesitation.

The S&P 500 rallied rather significantly during the trading session on Friday.

The German DAX has been all over the place during the trading session on Friday as we continue to dance around the crucial €18,000 level.

The GBP/USD pair moved sideways on Monday morning as traders continued to focus on the upcoming Bank of England (BoE) interest rate decision.

The AUD/USD exchange rate bounced back after a stream of weak economic numbers from the United States pushed the greenback sharply lower.

Bitcoin is showing some quietly bullish signs.

The upwards wave of buying began on Thursday and built into a powerful move Friday with the publication of U.S jobs data.

WTI Crude Oil which has been flirting with higher prices and testing resistance on a fairly regular basis a bit over the past month suddenly found selling pressure build.

The US Federal Reserve maintained unchanged interest rates at its policy meeting, assuring there would be no rate hike and committing to rate cuts as soon as inflation allows, indicating a dovish tilt.

Get the weekly Forex forecast for major currency pairs for the week of May 06-11, 2024 here.