Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Monday to kick off the week but found support at the same place

EUR/USD: Support at 1.0840 looks strong

US Factory orders for March came in below already depressed expectations, continuing the series of worse than forecast economic reports.

Governments start to ease lockdown measures implemented to contain the spread of the Covid-19 pandemic, which has led to an increase in the infection rates

According to a new analysis conducted by the Australian Treasury, the Covid-19 related lockdown is costing the economy A$4 billion per week,

The USD/JPY losses increased pushing it to the 106.35 support, the lowest level of in nearly a month and a half.

I still expect that the GBP gains will remain under the influence of the future negotiations between the two sides of Brexit and the economic situation as a result of the Corona epidemic.

EUR/USD Bullish correction attempts last week's trading culminated by the rise towards the 1.1018 resistance, the highest level in a month

The prospect of new trade skirmishes between the United States and China, at a time when the global economy itself needs intensive care,

Given Australia’s dependence on China, commentary by US President Trump regarding more tariffs added downside pressure on the Australian Dollar,

While New Zealand is caught in the vortex of the diplomatic row Australia sparked with China, its currency struggles with rising domestic issues.

Last week the US reported job losses related to the Covid-19 pandemic exceeded 30 million.

According to a snap poll conducted of 300 Indian CEOs, it will take the economy at least one year to return to normal after all lockdown measures are lifted.

AUD/USD: Back below the big round number of 0.6500

USD/JPY: Possible beginning of a bullish head and shoulders from 106.60