Forex Daily Forecast, Analysis and Prediction

The US dollar has spent most of the month of April grinding lower against the Japanese yen, clearing the crucial ¥107 level, an area that had been massive support previously.

The New Zealand dollar has enjoyed a resurgence during the month of April, as we have seen a lot of “risk on” behavior in stock markets around the world as well as other assets.

The Euro has spent the better part of the month of April going sideways in a relatively tight range.

The Canadian dollar has been a bit of an enigma as of late, as it has held up rather well considering just how drastic the selloff in crude oil has been.

During yesterday's trading, crude oil prices fell sharply, then rebounded back and then stabilized after that, but the pressures remain.

The strength of the Japanese yen and the lack of momentum for the Euro to stop the collapse, pushed the EUR/JPY to retreat to the 115.52 support,

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.