Forex Daily Forecast, Analysis and Prediction

Trade talks between the EU and the UK are closing the first week with significant differences, a development that was widely expected.

New Zealand announced that it is prepared to jump-start $12 billion worth of infrastructure projects to indirectly stimulate the economy,

The Japanese yen is still the strongest safe haven followed by investors in light of the continuing global concerns about a bleak future for the global economy due to the spread of the deadly Coronavirus in more than 60 countries around the world.

Despite the gains in the global stock markets after the recent measures by the global central banks to ease monetary policies, the price of gold maintained its recent gains near its highest level in seven years.

For the second straight day, the GBP/USD pair is trying to compensate for the losses that pushed it towards the 1.2726 support, its lowest level in more than four months.

AUD/USD: Increasingly likely that the price put in a medium-term bottom

After eight consecutive trading sessions in which the EUR/USD pair succeeded to achieve upward correction, based on which, the general trend turned upward by moving towards the 1.1213 resistance.

USD/JPY: Pivotal Point at 107.53

The US dollar has rallied slightly during the trading session on Wednesday as we may have gotten a little bit oversold.

The Euro initially tried to rally during the trading session on Wednesday but found support at the 200 day EMA just as it did during the previous session.

The British pound has initially pulled back during the trading session on Wednesday, but then turned around to rally significantly to show signs of life again.

The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Wednesday but failed to keep gains above the $47.50 level.

Natural gas markets have gone back and forth during the trading session on Wednesday but have struggled a bit above the $1.85 handle.

The Bitcoin market did very little during trading on Wednesday, as markets continue to consolidate after a violent thrashing in both directions from a global standpoint.

Gold markets initially tried to rally after gapping lower on Wednesday, only to see the $1650 level offer resistance yet again in the forward futures contract.