Forex Daily Forecast, Analysis and Prediction

Australian data this morning showed the services sector contracted further in January, adding to selling pressure in its currency.

Inflation expectations increased slightly but remained below the Reserve Bank of New Zealand’s annualized target.

Yesterday’s surprise PMI revisions to the upside out of the Eurozone elevated the Euro, but this is short-term event is close to the end.

The USD/JPY price got an upward momentum that pushed it towards the 109.85 resistance, the highest level in two weeks, and the support of the pair came from the growing optimism that China can reach a treatment for the deadly Corona virus.

Oil prices remain depressed, and OPEC+ may not rush in to attempt to stabilize the sell-off just yet.

After gold prices to the $1547 support in the beginning of yesterday's trading, it rose again to the $1562 resistance, and then stabilized around $1556 at the beginning of Thursday’s trading.

At this year’s World Economic Forum, Ripple announced that it is considering an initial public offering late this year.

Since the beginning of this week’s trading, the GBP/USD pair is going under downward pressure pushing it towards the 1.2940 support.

AUD/USD: Long-term low near 0.6677?

The strength of the US dollar pushed the price of the EUR/USD pair to break a strong support, which is the level of 1.1000, down to 1.0993 near its lowest level in more than two months.

USD/JPY: Long-term resistance above 110.00

BTC/USD: Room to rise to $10k+

GBP/USD: Unpredictable price action at the lows

The US dollar has rallied again during trading on Wednesday, as it looks like we are trying to take out the ¥110 level.

EUR/USD: Strong USD threatens long-term breakdown