Forex Daily Forecast, Analysis and Prediction

The Australian dollar rallied a bit during the trading session on Wednesday, reaching towards the 50 day EMA where there has been selling pressure.

The EUR/USD pair is still trying hard to avoid moving below the 1.0800 psychological support so as not to have more selling on the pair.

The US dollar has gone back and forth during the trading session on Wednesday, as we continue to grind just below the ¥108 level.

The NASDAQ 100 is likely to see a bit of trouble just above, although we may have a little bit of upward pressure in the short term.

The S&P 500 bounced significantly during the trading session on Wednesday as the market has started to focus on the possibility of everything being awesome again

GBP/USD: Support at 1.2252 looks strong

EUR/USD: Euro is relatively weak

The US dollar initially tried to rally during the trading session on Wednesday but continues to find a bit of resistance near the ₹77.50 level.

Silver markets have rallied a bit during the trading session on Wednesday, as we have seen the $15 level offer a significant amount of support.

Gold markets rallied significantly during the trading session on Wednesday, as we have broken above the top of the hammer from the Tuesday session.

The West Texas Intermediate Crude Oil market gapped to the upside at the open on Wednesday, but then pulled back to try to fill that gap which of course it ended up doing so.

Bitcoin will face its third-having event on May 12th. Enthusiasts hoping for a repeat of the previous two, which initiated massive rallies to new all-time highs,

With the global Covid-19 pandemic keeping the economy hostage, the Bank of Japan notes financial risks related to the crisis.

New Zealand’s Prime Minister Ardern announced that the nationwide lockdown contained the Covid-19 outbreak,

As I mentioned before, I now confirm that the USD/JPY pair remains in a fierce struggle between safe havens since the beginning of the Coronavirus crisis.