Forex Daily Forecast, Analysis and Prediction

Get the USD/JPY Forex signal for May 21, here.

Get the GBP/USD Forex signal for May 21, here.

Get the EUR/USD Forex signal for May 21, here.

Gold edged higher on Wednesday as the dollar pared its recent gains after minutes from the Fed’s last meeting showed policy makers believed June is probably too soon to start raising interest rates.

The EUR/USD pair fell during the day again on Wednesday, but we are starting to approach an area that I believe will be rather supportive.

The USD/CAD pair tried to rally initially during the day on Wednesday, but struggled as we approached the 100 day exponential moving average.

Get the AUD/USD Forex signal for May 20, 2015 here.

Get the GBP/USD Forex signal for May 20, 2015 here.

Get the USD/JPY Forex signal for May 20, 2015 here.

Get the EUR/USD Forex signal for May 20, 2015 here.

The WTI Crude Oil markets fell during the session on Tuesday, testing the $58 region. Because of this, looks like the markets can tend to simply grind away sideways overall, and although I certainly have an upward bias in this market, I’m not necessarily that pressed to risk any serious amount of money in this market.

The EUR/USD pair fell rather hard during the session on Tuesday, testing the 1.1150 level. With that, it appears that the market is going to try to find buyers between here and the 1.10 level, and as a result I am actually waiting for a supportive candle in order to go long.

The GBP/USD pair fell during the course of the session on Tuesday, testing the 1.55 level. This was an area that was previously resistive, so it should now be supportive.

Gold prices fell 1.44% yesterday, snapping five consecutive days of gains, and settled at $1207.53 an ounce as the dollar rallied on the back of encouraging housing data.

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