Forex Daily Forecast, Analysis and Prediction

During the today’s trading, Wednesday, April 29, 2020, the financial markets and investors in the forex market are awaiting the announcement of the US economic growth figures

The GBP/USD formed a “head and shoulders” candle on the daily chart, increasing with a special strength, with the pair failing to overcome the 1.2517 resistance,

The EUR/USD pair tried to take advantage of investors’ giving up the dollar as a safe haven, and therefore there was an opportunity for an upward correction,

For the fourth consecutive day, gold prices continue in a downward correction range with the support of investors' risk appetite and the walk away from safe havens.

The recent downward trajectory pushed the USD/JPY towards the 106.55 support, its lowest in more than a month, before returning to stability around the 106.85 level

Germany eased several lockdown measures, which resulted in a rise in Covid-19 infections and no meaningful economic activity.

Turkey’s economy is feeling the devastating impact of the global Covid-19 pandemic.

The Euro rallied significantly during the trading session on Tuesday but give back all of the gains essentially to form a massive shooting star.

The US dollar broke down significantly during the trading session on Tuesday, slicing through the ¥107 level.

The Australian dollar initially pulled back during the trading session on Tuesday but then turned around to reach towards the 0.65 level, an area that should bring in a fresh wave of selling.

The S&P 500 has run into a brick wall on Tuesday, as we initially shot higher but found enough resistance to turn things around and form a bit of a shooting star heading into the close.

The NASDAQ 100 has gone back and forth during the trading session on Tuesday, forming a very ugly candlestick as it looks like we are going to continue to struggle to get above the 9000 handle.

The British pound initially rally during the trading session on Tuesday, breaking above the 1.25 handle.

New Zealand reported better-than-forecast March export data, while imports increased as well.

The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Tuesday.