Daily Market Forecast – Dollar Slips after Fed Statement

EUR/USD: Euro Proves Stable after U.S Fed Policy

The Euro has idled in place the past twenty-four hours and remains below the 1.20 juncture versus the U.S Dollar. It may prove noteworthy the Euro has performed in a stable manner since the publication of the U.S Federal Reserve monetary policy. Some speculators may look for an upside reversal in the near term.

Gold: Upside Potential for Precious Metal

Gold is trading near 1309.00 U.S Dollars this morning. The precious metal has sustained nearly two weeks of headwinds but has found rather strong support within it current vicinity. Gold may have the ability to make gains for the patient investor via its current value range.

GBP/USD: Solid Construction Data from U.K

Additional ground was lost in the Pound yesterday and it is near the 1.36 level against the U.S Dollar. However, Construction data from the U.K was positive yesterday. The Pound is near important long-term support. Brave traders may explore this terrain and look for gains from the British currency.

Join our Telegram Channel

USD/JPY: Yen Makes Incremental Gains

The Yen has made incremental gains in the past day and is trading near the 109.60 mark this morning against the U.S Dollar. The Nikkei Index has lost some ground, but the Yen may continue to strengthen in the near term.

Crude Oil: Inventories Data from U.S Rise Significantly

U.S Crude Oil Inventories climbed significantly via its data yesterday. However, the price of the commodity remained quiet and is pushing up against 68.00 U.S Dollar a barrel. It appears U.S Crude Oil has found a comfortable range and traders looking for upside may want to hold onto their positions.

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.