Forex Daily Forecast, Analysis and Prediction

Governments start to ease lockdown measures implemented to contain the spread of the Covid-19 pandemic, which has led to an increase in the infection rates

According to a new analysis conducted by the Australian Treasury, the Covid-19 related lockdown is costing the economy A$4 billion per week,

The USD/JPY losses increased pushing it to the 106.35 support, the lowest level of in nearly a month and a half.

I still expect that the GBP gains will remain under the influence of the future negotiations between the two sides of Brexit and the economic situation as a result of the Corona epidemic.

EUR/USD Bullish correction attempts last week's trading culminated by the rise towards the 1.1018 resistance, the highest level in a month

The prospect of new trade skirmishes between the United States and China, at a time when the global economy itself needs intensive care,

Given Australia’s dependence on China, commentary by US President Trump regarding more tariffs added downside pressure on the Australian Dollar,

While New Zealand is caught in the vortex of the diplomatic row Australia sparked with China, its currency struggles with rising domestic issues.

Last week the US reported job losses related to the Covid-19 pandemic exceeded 30 million.

According to a snap poll conducted of 300 Indian CEOs, it will take the economy at least one year to return to normal after all lockdown measures are lifted.

AUD/USD: Back below the big round number of 0.6500

USD/JPY: Possible beginning of a bullish head and shoulders from 106.60

BTC/USD: Support level at $8,375 looks very strong

GBP/USD: Likely to consolidate today between 1.2396 and 1.2484

The US dollar continues to dance around the ¥107 level, as we have dipped a below there and now it looks like we are going to continue to see negative pressure applied to this currency pair.