Forex Daily Forecast, Analysis and Prediction

India is faced with a $1 trillion opportunity loss due to the Covid-19 pandemic and government response to it.

AUD/USD: Yet key support level at 0.6404

USD/JPY: Bulls have small edge

BTC/USD: Yet strong resistance near $10,000

Silver markets have broken higher during the trading session on Friday, slicing through the 200 day EMA like it was not even there

The Bitcoin market went back and forth during trading on Friday again, as we yet again see the $10,000 level offer a significant amount of resistance.

Gold markets have rallied significantly during the trading session on Friday, peaking above the $1750 level.

The West Texas Intermediate Crude Oil market has rallied quite a bit during the trading session on Friday again, as we continue to see bullish pressure build up

GBP/USD: Price approaching 2-month lows

EUR/USD: Persistent buying below 1.0800

South Africa is in discussions to lower its Covid-19 pandemic alert level to three by the end of May, according to its risk-adjusted reopening of the economy.

With the Eurozone in a recession, Germany entered one before the rest of the bloc after fourth-quarter data was revised lower.

Preliminary Japanese first-quarter GDP data decreased less than forecast but confirmed the economy entered a recession.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of May 17, 2020.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of 18 may, 2020 here.