Forex Daily Forecast, Analysis and Prediction

The gold market initially tried to rally during the trading session on Friday but found the $1750 level to be resistant, which I think extends all the way to the $1775 level.

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US Federal Reserve Chairman Powell delivered a pessimistic outlook on the economic recovery potential.

Global equity markets rallied over the past two months, driven by misplaced economic optimism of retail traders.

According to the Global Economic Prospects report for June 2020, distributed by the World Bank, the economy will face a 5.2% GDP contraction.

The Euro initially tried to rally on Thursday but continues to see a lot of resistance at the 1.14 handle.

The Mexican peso got absolutely crushed during trading on Thursday, as there was a major “risk off” move around the world.

The Australian dollar has broken down significantly during the trading session on Thursday, ripping through the bottom of several candlesticks that had led the market up to this area.

The US dollar has fallen a bit during the trading session on Thursday, breaking below the ¥107 level.

Brazil’s government stopped publishing Covid-19 data and took down the official website.

The NASDAQ 100 has broken down significantly during the trading session on Thursday, wiping out the 10,000 level like it was not even there.

The British pound has broken down significantly during the trading session on Thursday, slicing through the 200 day EMA.

The S&P 500 has gotten absolutely crushed during the trading session on Thursday as we continue to see a lot of negativity.