Forex Daily Forecast, Analysis and Prediction

Despite the European Central Bank’s acknowledgment that the Eurozone will face a more precipitous than previously considered recession

First-quarter export volume out of New Zealand increased, defying calls for a marginal contraction.

GBP/USD: Trading above key round number at 1.2500

EUR/USD: Price looks set to move beyond multi-month high at 1.1153

Australian company pre-tax profits for the first-quarter plunged 16.2% in the first quarter, after a 0.6% contraction in the fourth quarter.

Brazil reported a 1.5% decrease in its first-quarter GDP, while the Finance Ministry announced it expects a more significant second-quarter contraction.

AUD/USD: Australian Dollar is the strongest major currency

USD/JPY: New gently descending price channel

BTC/USD: Ascending medium-term price channel

GBP/USD: Remains bullish above 1.3271

EUR/USD: New long-term bullish trend getting underway

The Euro has extended gains during the day on Friday, reaching well above the 1.11 handle before pulling back.

The US dollar initially fell during the trading session on Friday to reach down towards the ¥107 level.

The Australian dollar pulled back just a bit during the trading session on Friday to dipped down below the 200 day EMA.

The S&P 500 seems to be unforgiving in its bullish pressure.