Forex Daily Forecast, Analysis and Prediction

The Australian dollar initially tried to rally during the trading session on Friday but found a lot of resistance near the 0.60 level as one would expect.

The S&P 500 has had a rough trading session on Friday but that shouldn’t be a huge surprise considering that the session was also the “quadruple witching Friday

The Euro initially tried to rally during the trading session on Friday, reaching as high as 1.08 and above.

The British pound had a nice rally during the trading session on Friday but gave back a significant portion of the gains.

Gold markets have had a tough trading session on Friday, but at one point were rather bullish.

BTC/USD: Weakly bearish

GBP/USD: New 35-year low price last week

EUR/USD: New 2.5-year low price

The West Texas Intermediate Crude Oil market initially tried to rally during the day on Friday, reaching towards the $27.50 level before giving back gains

A rush to liquidity boosted the US Dollar, with the US Federal Reserve pumping trillions into the financial system.

Following the initial UK response to Covid-19, regarded as laid back, the government of Prime Minister Boris Johnson kicked into gear.

After the Reserve Bank of New Zealand announced NZ$30 billion worth of domestic bond purchases, the NZD/CAD was able to complete a double breakout.

Australia announced its initial A$17.6 stimulus, an A$90 billion three-year funding facility created by the Reserve Bank of Australia

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for Tuesday, March 23, 2020 here.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of March 23, 2020 here.