Forex Daily Forecast, Analysis and Prediction

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

For those of you who are diehard Bitcoin holders, this has to be one of the strangest markets to deal with right now.

Gold markets are more than likely going to continue going higher after the action that I have seen in the market on Tuesday.

The West Texas Intermediate Crude Oil market has fallen apart during the trading session on Tuesday after a historic day on Monday with the May contract printing a negative level.

Safe-haven assets are in strong demand, as evidenced by Singapore’s 242.5% surge in gold exports for March.

For four consecutive trading sessions, the USD/JPY pair is moving in a limited range between 106.92 and 108.08 levels, and at the time of writing.

South African cabinet ministers resumed their meeting to craft a way forward once the Covid-19 related lockdown is lifted.

At the beginning of this week’s trading, the price of gold continued its downward correction to the $1671 support.

Prior to the announcement of job and wage numbers in Britain, the GBP/USD pair stabilizes lower around the 1.2388 support.

India could enter its first annualized recession in forty years, due to the extended lockdown measures in response to the global Covid-19 pandemic.

Singapore reported a 17.6% rise in March non-crude exports on the back of a 242.5% surge in gold shipments and a 48.6 advance in pharmaceuticals

The single European currency, the Euro, has received little support ending the recent sharp decline against most other major currencies.

AUD/USD: Risk-off sentiment hits AUD

USD/JPY: More bearish

The Euro has gone back and forth during the trading session on Monday, as we continue to see a lot of noisy trading behavior.