Forex Daily Forecast, Analysis and Prediction

South Africa has limited options to stimulate its troubled economy through Covid-19 and the collapse in oil prices.

Singapore emerged as one of the leading countries to combat the Covid-19 pandemic.

Following a sell-off in this precious metal, related to immediate cash requirements by a growing number of portfolio managers to meet margin calls

The persistence of global concerns about the negative impact on global economic growth from the continued outbreak of the Corona epidemic.

The recent corrections of gold price pushed it towards the $1631 support before settling around the $1636 level at the time of writing, awaiting for the return of buyers.

AUD/USD: Important bearish breakdown below 0.6450

Despite the massive stimulus plans announced by the British government and the Bank of England in a unified coordination between them yesterday, the price of the GBP/USD pair continued to drop to the threshold of the 1.2800 psychological support.

All eyes are watching carefully for the decisions that the European Central Bank will announce today to stimulate the European economy in the face of the Corona epidemic consequences in the E.U led by Italy.

USD/JPY: Important Forex pair to watch

BTC/USD: Important breakdown below $7,700

GBP/USD: Key resistance at 1.2842

EUR/USD: Euro is not crashing

Despite the Bank of England’s 50 basis point interest rate cut to 0.25%, the British Pound held up well.

The US dollar has fallen during most of the trading session against the Japanese yen as traders out there try to figure out with going on next.

The S&P 500 has fallen a bit during the trading session on Wednesday, breaking down towards the 2700 level again before bouncing.