Forex Daily Forecast, Analysis and Prediction

Eurozone economic data has been led to a series of disappointments by Germany, which has enforced the European Central Bank’s monetary policy designed to weaken the Euro.

In the best daily performance of the USD/JPY pair, the pair achieved its gains during yesterday's session, starting from the 109.83 support, reaching the 111.58 resistance, where it is also stable at the time of writing, and is the highest level in more than eight months.

Gold performance continues with a steady upward momentum since the beginning of trading in 2020.

The US currency has the confidence of investors and markets.

The single European currency, the Euro, remains under severe pressure and is losing investor confidence due to the continued disappointing figures for the Eurozone economy led by Germany.

AUD/USD: New 11-year low price

Where do newcomers to stock trading tend to look first? Usually at high profile large-cap and story stocks.

USD/JPY: Soars to long-term high prices

After a massive advance across the cryptocurrency sector led by industry bellwether Bitcoin, volatility started to expand as price action approached key resistance levels.

Financial markets continue to dismiss the threat to the global economy posed by Covid-19, which continues to spread, cases soar, and the death toll rises.

BTC/USD: Pivotal point at $9,518

GBP/USD: Pivotal point at 1.2870

Japanese trade data released yesterday showed a contraction across the board, confirming the global economy remains under stress.

The US dollar exploded to the upside during the trading session against the Japanese yen on Wednesday, clearing the ¥110 level quite handily, and making a fresh, new high.

The S&P 500 rallied during the trading session on Wednesday again, as we continue to reach towards the 3400 level.