Forex Daily Forecast, Analysis and Prediction

At the beginning of the Corona virus crisis, the price of gold was not much interested in the event, which explains the movement of the gold price in narrow and limited ranges between 1568 and the $1546 support.

The British Pound showed great resistance against the recent strength of the US dollar.

EUR/USD attempts for a bullish correction collapsed during the past week’s trading, with investors returning to buy the dollar as a safe haven amid risk aversion.

AUD/USD: Very Bearish

USD/JPY: Bearish

BTC/USD: Bullish break above bearish trend line

GBP/USD: Pound is less weak than most risky currencies

Bitcoin lost its bullish momentum after completing a breakdown below its resistance zone.

Brexit is five days away, but the UK will remain under EU rules until the end of the transition period.

Commodity demand is depressed as a result of constant new threats to the slowing global economy, like the spreading of a deadly string of coronavirus

Major Asian markets remain closed for various holidays, draining volume from this morning’s trading session.

EUR/USD: Resistance at 1.1039 looks pivotal

The US dollar has initially tried to rally during the trading session on Friday but then turned around to reach towards the 50 day EMA, which of course is a crucial technical indicator.

The S&P 500 has initially tried to rally during the trading session on Friday but gave back the gains in order to show signs of exhaustion.

The NASDAQ 100 has broken down after initially trying to rally on Friday, showing the 9250 level to be far too resistive.