Forex Daily Forecast, Analysis and Prediction

The West Texas Intermediate Crude market has pulled back just a bit during trading on Thursday, as we continue to see $25 offer significant resistance.

After the UK released disappointing retail sales for February, the GBP/ZAR continued its recovery on the back of weakness in the South African Rand.

Covid-19 cases in the US have surpassed those in China. President Trump has vowed to force the economy open by April 12th,

Australia and New Zealand have announced economic relive packages, while bot central banks announced quantitative easing measures after slashing interest rates to 0.25%.

Canada’s economy began the Covid-19 pandemic and collapse in oil prices on a vulnerable foundation.

Despite the USD/JPY attempts of a lower correction for two trading sessions in a row, the pair is still moving inside its upward channel, and the correction is temporary because all factors still support the continuation of its gains.

Before the announcement of the most important US economic data for this week.

A bullish chart pattern is emerging in the GBP/CHF, following the collapse in this currency pair on the back of panic selling.

Global Covid-19 cases are approaching 500,000, and the economy is on track to enter a recession.

AUD/USD: Pivotal point at 0.6094

As was the performance with other major currencies, the pound succeeded in making some gains, taking advantage of the weakening dollar.

USD/JPY: Yen starting to strengthen

For the fifth straight day, the EUR/USD pair continues to correct for gains that reached the 1.0933 resistance.

The US dollar continues to bounce around just below the ¥112 level, an area that seems to be a bit of a brick wall.

BTC/USD: Volatility decreasing