Forex Daily Forecast, Analysis and Prediction

There is a pivotal zone above $28,607.

Bitcoin fell a bit on Friday to show signs of weakness but also turned around as the US dollar calmed down quite a bit.

The gold markets initially fell on Friday but then turned around to show signs of life.

The West Texas Intermediate Crude Oil market initially pulled back on Friday but then turned around to show signs of strength yet again.

The S&P 500 fell Friday and the jobs number came out better than anticipated, suggesting that perhaps the Federal Reserve is willing to continue its tightening policy.

The German DAX Index fell a bit on Thursday to grind down towards the €13,500 level.

The FTSE 100 broke down rather significantly on Friday as the futures market got pounded from the start.

Litecoin fell a bit on Friday only to turn around and show signs of support.

Neo fell ever so slightly on Friday in relatively quiet trading.

The US dollar rallied a bit on Friday to show signs of strength yet again.

The euro bounced a bit on Friday as we had initially fallen to reach the 1.05 level.

The EUR/USD is stuck close to the lowest level this year as investors focused on the interest rate decision by the Federal Reserve and the average US jobs data.

The AUD/USD pair is hovering near the lowest level in February this year as market participants focus on the recent RBA and Fed decisions and the upcoming Australian election.

The GBP/USD pair dropped to a multi-year low last week after the dovish rate hike by the Bank of England (BOE).

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of May 9, 2022.