Forex Daily Forecast, Analysis and Prediction

Looking at the West Texas Intermediate Crude Oil market, you can see that we have rallied ever so slightly but at the end of the day we are still very much in the same range that we have been in

The gold markets initially fell during the Globex session on Thursday but found a solid wall of support at the $1765 level.

After the South African economy posted a 2.0% contraction in the first quarter, the South African Reserve Bank forecasts a 32.6% collapse in the second quarter.

Guy Parmelin, the Vice President of Switzerland and the minister responsible for the Federal Department of Economic Affairs, Education and Research,

Sweden’s economy is forecast to shrink by 6.0% in 2020, a figure prone to downward revisions.

Norway, not a member of the European Union, is seeking to be included in Covid-19 regulations and travel advisories referred to as Re-Open EU.

On the daily EUR/USD chart, it is clear that the bears are dominating the performance, and the chances of upward correction are weak,

For the third consecutive day, the GBP/USD performance witnessed a noticeable improvement,

As expected, the recent and continuous gold gains pushed the technical indicators to overbought areas

After several trading sessions during which the price of the USD/JPY pair attempted to correct higher, and at a slow pace, the pair was unable to overcome the barrier

The Australian dollar went back and forth during the trading session on Wednesday as we had broken above the 0.69 level.

The Euro initially fell during the trading session on Wednesday, but then shot straight up in the air only to pull back yet again.

AUD/USD: Resistance at 0.6939 holding

The NASDAQ 100 initially dropped a bit during the trading session on Wednesday, but then turned around to show signs of life again.

The US dollar initially tried to rally during the trading session on Wednesday but found the 200 day EMA to be a bit overly resistive to continue going higher.