Forex Daily Forecast, Analysis and Prediction

The US dollar initially rallied against the South African Rand but found resistance near the 16.50 Rand level.

The Australian dollar initially fell during the trading session on Thursday, but then turned around to show signs of life again.

The Euro fell rather hard during the trading session on Thursday, reaching down towards the 1.1750 level before turning around and forming a massive hammer.

The S&P 500 has fallen a bit during the trading session on Thursday, reaching down towards the 3300 level again.

The NASDAQ 100 has fallen again during the trading session on Thursday, reaching down towards the 10,900 level before bouncing a bit.

Silver markets fell a bit during the trading session on Thursday, reaching down towards the $26.50 level before finding buyers again.

The oil markets continue to rally as we have seen a very bullish couple of sessions due to the fact that the inventory numbers have been much more bullish than anticipated in the United States.

Gold markets fell hard during the trading session on Thursday, reaching down towards the uptrend line from the symmetric triangle that I have plotted on the chart.

Since the beginning of Thursday’s trading, the price of the EUR/USD pair has been suffering from a strong downward momentum that pushed it towards the 1.1736 support

The US currency received support from the US Federal Reserve’s announcement of its monetary policy yesterday, despite its indication that US interest rates should be maintained

Cautious stability of the GBP/USD price ahead of the Bank of England’s announcement of its monetary policy decisions later today, Thursday.

There is no doubt that the recent sell-off pushed the USD/JPY price towards its lowest level in a month and a half, reaching the 104.78 support, where it is stable around at the time of writing.

The USD/MXN has sustained its downward trajectory and established a significant bearish trend since the beginning of August.

The USD/ZAR has effectively demonstrated the ability to trade near important support junctures without suffering a sudden reversal higher.

The Indian Rupee has experienced choppy waters the past day and this morning’s early trading has the USD/INR within the upper boundaries as resistance is perched intriguingly above and seemingly strong.