Forex Daily Forecast, Analysis and Prediction

GBP/USD: Price likely to test 1.2300 soon

EUR/USD: Key resistance at 1.0832

The US dollar rallied a bit against the Japanese yen during the trading session on Friday, despite the fact that the jobs number in America was absolutely miserable.

The Euro bounced a bit from a major support level just below the 1.08 handle, an area that I had been calling for a couple of the past videos now.

The NASDAQ 100 fell during the trading session on Friday as we continue to see a lot of volatility in stock indices around the world.

The silver markets initially tried to rally during the trading session on Friday but pulled back a bit as the $15 level above continues to loom large.

The S&P 500 has gone back and forth during the trading session on Friday, essentially ignoring the loss of 701,000 jobs during the month of March,

Gold markets rallied a bit during the trading session on Friday after initially pulling back.

The West Texas Intermediate Crude Oil market has rallied again to close out the week on Friday, but most of that rally is probably do more to short covering than anything else.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of April 6, 2020.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of April 6, 2020 here.

Get the weekly Forex forecast for major currency pairs for the week of April 6, 2020 here.

Gold remains the primary safe-haven asset, but silver allows traders to diversify portfolios and hedge Forex positions in a less crowded trade.

Over the past two weeks, the US saw initial jobless claims surge by roughly ten million due to the global Covid-19 pandemic.

Australian construction and service sector data showed deep recessionary readings, but retail sales for February came in better than expected.