Forex Daily Forecast, Analysis and Prediction

The British pound started out the day just above the 1.15 level but found enough buying to turn things around and reach towards the 1.17 level,

As traders digest the idea of a potential stimulus package, stock markets in the United States have skyrocketed.

The Australian dollar rallied during the trading session on Tuesday, reaching towards the 0.60 level above before pulling back.

GBP/USD: Significant recovery in price

The S&P 500 has formed a very bullish candlestick during the trading session on Tuesday, breaking above the top of the candlestick from the previous session.

EUR/USD: Medium/Long-term bottom at 1.0639

Following the initial liquidity rush across the global financial system, which sparked the US Dollar to multi-year highs, fundamentals are slowly resurfacing.

Turkey’s health ministry confirmed local Covid-19 transmission exceed imported ones after the death toll increased to 44, and total cases approach 2,000.

Hopes that economic stimulus packages and corporate bailouts will spark an economic recovery in the second half of 2020 are premature.

Singapore was one of the first countries to react to the Covid-19 outbreak, but initial success caused it to fall behind.

Silver markets got a bit of a boost during the trading session on Tuesday, breaking above the $14.00 level as traders look at the Federal Reserve

Gold markets have rallied significantly during the trading session on Tuesday, reaching towards the $1700 level.

The FTSE 100 gapped higher to show extreme signs of strength, as the market jumped above the 5000 level in the futures contract.

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Tuesday but found resistance near the $25 level to give back the gains.

For the second day in a row, gold prices are trying to correct higher, taking advantage of the US dollar's gains, with the yellow metal's gains reaching the $1575 level at the time of writing.