Forex Daily Forecast, Analysis and Prediction

The British pound fell hard during the trading session on Wednesday, as we continue to look at support just below and it appears that we are trying to form some type of basing pattern.

The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Wednesday, finally slicing through the $49 level and crushing all hope of support.

Bitcoin has broken down significantly during the trading session on Wednesday, breaking below the 50 day EMA.

Natural gas markets did very little during the trading session on Wednesday as we sit just above the $1.80 level.

Gold markets fell a bit during the trading session on Wednesday, gapping to show signs of extreme negativity.

AUD/USD: New 11-year low price reached again yesterday

USD/JPY: Too much support below 110.00 for bears to break down

BTC/USD: Supported at $8,500

With Covid-19 crippling the global supply chain, Canada is faced with the impact of rail blockades staged by indigenous and anti-pipeline activists.

Before the outbreak of the deadly Covid-19, the global economy was amid a slowdown, fueled by structural issues.

New Zealand reported a smaller than expected decrease in exports for January, resulting in a narrower trade deficit.

Following UK Prime Minister Johnson’s landslide electoral victory, clarity for businesses allowed February to post the strongest increase in activity in ten months.

GBP/USD: Bearish below 1.2870

EUR/USD: Euro acting as safe haven?

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for Thursday, February 27, 2020 here.