Forex Daily Forecast, Analysis and Prediction

With damages to the global supply chain due to the coronavirus intensifying, financial markets fail to properly price-in the economic damages.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of February 10, 2020.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of February 10, 2020 here.

Get the weekly Forex forecast for major currency pairs for the week of February 9, 2020 here.

With fears over the economic damages from the coronavirus easing prematurely, safe-haven demand for the Swiss Franc diminished as the risk-on mood took a dominant role.

The Australian dollar has initially rallied during the trading session on Thursday but gave back the gains in order to form a less than impressive candlestick.

The NASDAQ 100 has rallied a bit during the trading session on Thursday, reaching towards the top of the shooting star from the previous session on Wednesday.

Gold markets rallied a bit during the trading session on Thursday, breaking above the highs on Wednesday which of course is a very bullish sign.

The US dollar has pulled back slightly during the trading session on Thursday but has found enough support to continue going higher.

The S&P 500 has initially tried to rally during the trading session on Thursday but gave back the gains to turn around and form a shooting star.

The Euro market has initially tried to rally during the trading session on Thursday, but found the area above the 1.10 level to be a bit too much to hang onto,

The British pound has broken down a bit during the trading session on Thursday, slicing through the 1.2950 level, an area that has been supportive of the last couple of weeks.

The West Texas Intermediate Crude Oil market went back and forth during the trading session on Thursday as competing headlines continue to throw the market around.

The FTSE 100 has rallied slightly during the trading session on Thursday, breaking above the 50 day EMA but did give back enough of the gains to show signs of hesitation at a previous gap.

Natural gas markets initially fell during the trading session on Thursday but have found a bit of a boost after the inventory figure came out a bit better than others.