Forex Daily Forecast, Analysis and Prediction

Compared to other developed countries, Singapore has gained relative control over the Covid-19 pandemic.

The US dollar initially fell during the trading session on Wednesday but then turned around to rally towards the 50 day EMA again.

The Australian dollar initially fell during the trading session on Wednesday, reaching down towards the 0.72 level before rallying again.

USD/JPY: Yen and Dollar acting equally as safe havens

BTC/USD: Yet buying below $10k

The Euro has bounced quite nicely during the trading session on Wednesday, but we have the ECB meeting on Thursday that will certainly put a lot of volatility into this market.

GBP/USD: The pound remains a relatively weak currency

If you have been trading for more than a few months, you probably remember the nonsense and noise that was a major feature of the entire Brexit situation.

The gold markets initially pulled back a bit during the trading session on Wednesday but turned around to show signs of life again.

The silver markets have dipped a bit lower during the trading session on Wednesday but found a bit of buying pressure underneath to turn the market around.

The West Texas Intermediate Crude Oil market bounced a bit during the trading session on Wednesday, as it had most certainly gotten a bit oversold.

The Bitcoin market initially dipped below the $10,000 level during the trading session on Wednesday but has recovered enough to show signs of strength again.

The NASDAQ 100 rallied off of the 11,000 level during the trading session on Wednesday, an area that I said needed to hold in order to save the uptrend.

EUR/USD: New higher support at 1.1800

The S&P 500 has bounced from the 50 day EMA on Wednesday, as the market looks to save itself from a massive selloff.