Forex Daily Forecast, Analysis and Prediction

Economists forecast a slower recovery in Canada as compare to the US. The ongoing collapse in oil prices is posing a vital challenge to both economies.

South Africa announced an unprecedented R500 billion economic stimulus in response to the global Covid-19 pandemic.

India’s 2021 fiscal year projection by the International Monetary Fund forecasts a 7.6% GDP expansion

A recent poll revealed that almost 50% of surveyed economists believe the US will enjoy a U-shaped recovery sooner than expected

USD/JPY: Both currencies are strong

BTC/USD: New higher support gives mixed picture

GBP/USD: Support at 1.2252 looks strong

EUR/USD: Ranging price action

The S&P 500 has had a rough session on Tuesday, as the 50 day EMA continues to offer significant resistance right at the psychologically important 2800 handle.

The Euro has gone back and forth during the trading session on Tuesday, simply because we are hanging around a very highly contested area.

The US dollar initially fell during the trading session on Tuesday but bounced enough to turn around and form a little bit of a hammer.

The NASDAQ 100 is starting to adjust to a new reality, at least that is what it is starting to look like right now.

The British pound has fallen a bit during the trading session on Tuesday, breaking below the 1.23 level before bouncing slightly.

The Australian dollar fell significantly during the trading session on Tuesday, reaching down towards the 0.6250 level and then promptly bounced from there.

Silver markets fell hard during the trading session on Tuesday, as the 50 day EMA looks to be offering a significant amount of resistance.