Forex Weekly Forecast with Technical Analysis on May 12 '24

This week's forecast covers in-depth technical analysis and market predictions across a variety of instruments.

Here’s What You Can Expect:


The EUR/NZD pair is encountering significant resistance levels that suggest a potential downturn is imminent. Nikkhil’s analysis has uncovered a bearish divergence, indicating that control might shift back to sellers soon.

EUR/NZD technical analysis on May 12 '24


EUR/JPY has reached a crucial confluence of resistance after completing multiple Fibonacci cycles, hinting at a critical juncture in the market. Whether the bullish momentum will persist or a correction looms could determine future movements.

EUR/JPY technical analysis on May 12 '24


Bitcoin displays enduring strength in the crypto market, maintaining strong support levels that suggest a bullish long-term outlook. Nikkhil explores potential short-term fluctuations alongside anticipated bullish targets. 

BITCOIN technical analysis on May 12 '24


The US500 index is pressing against significant resistance levels, posing the question of whether it will break through to new heights or face a corrective pullback. Nikkhil’s forecast breaks down potential movements and strategies for you to consider. 

US500 Index technical analysis on May 12 '24

XAU/USD (Gold):

Gold continues to show resilience, trading well above critical support levels with a trajectory set for further upward movement. Nikkhil’s analysis predicts how high gold could climb in the upcoming weeks and the strategic entry points you should consider.

XAU/USD technical analysis on May 12 '24

With various factors such as the recent rise in US jobless claims and the anticipated inflation reports influencing the markets, staying informed through Nikkhil’s comprehensive analysis is more crucial than ever. Each instrument offers unique opportunities, expertly analysed to help you make the most informed decisions during your trading week.

Click Here To Watch The Full Week Forex Forecast

Wishing you a successful and profitable trading week ahead!

We’ll talk soon,

Team Moneytize