Forex Daily Forecast, Analysis and Prediction

BTC/USD: Strong resistance likely at $7,228

The US dollar initially fell during the trading session on Tuesday, but yet again had seen buyers near the ¥110 level to turn things around and form a massive hammer.

The Euro rallied a bit during the trading session on Tuesday but gave back a significant amount of the gains in order to form a bit of an inverted hammer.

The British pound started out the day just above the 1.15 level but found enough buying to turn things around and reach towards the 1.17 level,

As traders digest the idea of a potential stimulus package, stock markets in the United States have skyrocketed.

The Australian dollar rallied during the trading session on Tuesday, reaching towards the 0.60 level above before pulling back.

GBP/USD: Significant recovery in price

The S&P 500 has formed a very bullish candlestick during the trading session on Tuesday, breaking above the top of the candlestick from the previous session.

EUR/USD: Medium/Long-term bottom at 1.0639

Following the initial liquidity rush across the global financial system, which sparked the US Dollar to multi-year highs, fundamentals are slowly resurfacing.

Turkey’s health ministry confirmed local Covid-19 transmission exceed imported ones after the death toll increased to 44, and total cases approach 2,000.

Hopes that economic stimulus packages and corporate bailouts will spark an economic recovery in the second half of 2020 are premature.

Singapore was one of the first countries to react to the Covid-19 outbreak, but initial success caused it to fall behind.

Silver markets got a bit of a boost during the trading session on Tuesday, breaking above the $14.00 level as traders look at the Federal Reserve

Gold markets have rallied significantly during the trading session on Tuesday, reaching towards the $1700 level.