Forex Daily Forecast, Analysis and Prediction

Financial markets have moved past the looming negative impacts of the global Covid-19 pandemic and believe trillions of dollars in new government debt

There was no movement of the USD/JPY pair in the beginning of this week’s trading, as the performance remained between the 107.54 level and the 107.77 level throughout Monday trading. In the beginning of Tuesday’s trading, the pair settled around the 107.72 level.

Gold price gave up some of its gains in the beginning of this week’s trading, as it fell from the $1733 resistance, reaching the 1721 support before settling around the $1726 level in the beginning of today’s trading.

For five consecutive trading sessions, the GBP/USD pair has been moving in a very limited and narrow range with a downtrend, and this performance technically foreshadows a strong movement coming in either direction.

A quiet start to the EUR/USD pair in a limited range between the 1.0870 support and the 1.0914 level, despite the announcement of a positive German IFO index reading.

The British pound has rallied slightly during the trading session on Monday, as banks in both countries were closed.

The Australian dollar has rallied a bit during the trading session on Monday in very thin holiday trading as it was Memorial Day in the United States

Silver markets have initially fallen during the trading session on Monday, but then bounced a bit as we would have had a very thin trading session

Mexico’s President Lopez Obrador believes the economic slowdown in China will benefit his country, entice a spike in foreign investment,

Australia attempts to utilize the Covid-19 pandemic as a catalyst to achieve economic sovereignty.

Throughout last week’s trading, the USD/JPY pair was moving inside the bullish channel, but it often lacked the momentum to strengthen this trend.

Gold is trying to recover recent losses, which during the past week's trading, extended to the $1717 support, bouncing back to the $1740 resistance and settled at the $1733 at the beginning of this week's trading.

The GBP/USD pair has returned to move within the descending channel, with losses that reached it to the 1.2161 support, where the pair is stable around the time of writing, and at the beginning of this week's trading.

The Euro price dropped against most other major currencies at the end of last week’s trading, amid deteriorating investor sentiment as tensions between the United States and China escalated and China decided not to set a target for economic growth for 2020 due to the coronavirus pandemic.

The Australian dollar has pulled back a bit during the trading session on Friday, and what would have been a somewhat shortened day