During the last week on Friday, the data from the U.S. showed the unemployment rate climbed to 14.7% from the expected 16% and again supported the U.S. dollar. The Average Hourly Earnings from the U.S. also increased to 4.7% from expected0.5% and supported the dollar. On the news front, the eyes will remain on the European industrial production figures, but the event is a medium impact, and it may not drive sharp selling or buying in the market today.   The BTC/USD prices have declined towards the $8,000 support mark after being discarded from the psychological $10,000 resistance mark during the weekend. Looking forward to this week, the BTCUSD sellers seem dominant, and they may target the $6,500 mark if they can drive a violation of BTC price below the $8,000 support zone this week. The BTCUSD is particularly bullish while trading over the $8,700 mark, key resistance is located at the $9,400 and the $10,000 marks. If the BTCUSD pair trades beneath the $8,700, sellers may examine the $8,000 and $7,000 support marks. At the moment, the volatility in the leading cryptocurrency is notably high. Nevertheless, from a technical perspective, Bitcoin's downside is maintained by the assembly created by the 61.8% Fibonacci level and the 200-day SMA. Today, a bearish breakout of 8,500 level may extend selling bias until the next support level of 8,230. BTC/USD - Daily Technical Levels Support Resistance 8,054 9,485 7,376 10,239 6,622 10,917 Pivot Point 8,808 BTC/USD – Daily Forecast The BTC/USD opened with a vast gap, falling sharply below 10K psychological resistance level to 8,500 support zone. Currently, the leading crypto pair is gaining support at this level and has closed a Doji candle above the 8,500 level. Today, a bearish breakout of 8,500 level may extend selling bias until the next support level of 8,230. However, if Bitcoin continues to close candles above the 8,500 level, we may see bullish correction until the 9,200 level. The EUR/USD pair was closed at 1.08383 after placing a high of 1.08755 and a low of 1.08149. Overall the movement of the EUR/USD pair was bullish on that day. On Friday EUR/USD pair first added in the Thursday's high of 1.0766 to 1.0875 and then pulled back to 1.081. The EUR/USD pair trimmed losses on Friday amid the risk-on market sentiment because of easing down of lockdowns in the world's major economies. It derived the hopes of faster than expected economic recovery and increased optimism around the world. On the data front, at 11:00 GMT, the German Trade Balance for the month of March was released and came in as 12.8 against the expectations of 19.0B and weighed on EUR. Moreover, the U.S. jobs lost by 20.5M in April failed to have a major impact on the EUR/USD pair on Friday and left the pair moved in a neutral stance. The NFP data from the United States on Friday showed that 20.5M people lost their jobs in April, where the expected number was 22M. The number was huge, but as it fell under the expected value, the impact on the U.S. dollar was positive. Further data from the U.S. showed the unemployment rate climbed to 14.7% from the expected 16% and again supported the U.S. dollar. The Average Hourly Earnings from the U.S. also increased to 4.7% from an expected 0.5% and supported the dollar. EUR/USD - Daily Technical Levels Support Resistance 1.0812 1.0874 1.0782 1.0906 1.0750 1.0935 Pivot Point: 1.0844 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0830, having violated the intraday pivot point resistance level of 1.0812. A bearish breakout of 1.0812 level can lead the EUR/USD prices towards 1.07630, which marks 78.6% Fibonacci level. Below this, the next support stays around 1.0725. On the higher side, resistance holds around 1.0864. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. Consider staying bearish below 1.0808 today. The GBP/USD pair was closed at 1.24055 after placing a high of 1.24670 and a low of 1.2347. Overall the movement of GBP/USD remained bullish throughout the day. On Thursday, Sterling dropped to the low of 1.2266 and gathered pace on Friday with a jump above 1.2400 level. The pair was favored by the risk-on market sentiment and placed a high of 1.24670 at the ending day of the week. The risk-on market sentiment emerged after the easing of lockdown from various countries across the globe. It was also supported by the easing down of restrictions in the world's biggest economy, which raised the hopes for a global economic recovery that has been caused by the COVID-19. On the data front, at 4:01 GMT, the GFK Consumer Confidence from the United Kingdom was released for April, which showed that the consumer's confidence over the U.K.'s economic conditions fell less than the expectations. The expected fall in the consumer confidence was -37, which in actual was recorded as -33 on Friday and helped GBP to gain traction. The better than expected fall in consumer confidence during April made GBP stronger against the U.S. dollar in earlier Asian sessions; hence, the pair GBP/USD moved in a bullish trend. On the other hand, at the U.S. front, the NFP data showed that over 20.5M jobs were lost during the month of April against the expected fall of 22M. Although the number of lost jobs was huge, it fell under the forecasted value, so it supported the U.S. dollar. The gains earned in early sessions by GBP/USD were somewhat lost after the U.S. data release on the back of U.S. dollar strength amid better than expected data. Support Resistance 1.2349 1.2468 1.2291 1.2527 1.2231 1.2586 Pivot Point: 1.2409 On Monday, the GBP/USD has come out of the selling zone as it crossed over 50 EMA resistance at 1.2400. The GBP/USD prices are holding above pivot point level of 1.2409, which is suggesting odds of bullish trend continued until the next resistance level of 1.2485. In case, the Cable violate 1.2485 level, we may see GBP/USD prices heading towards 1.2550 and 1.2600. The RSI and 50 EMA are suggesting the chances of a bullish bias today. On the lower side, the GBP/USD prices are likely to find support at around 1.2310 and 1.2204. Let's look for selling trades below 1.2400 and buying above the same level today. Good luck!

The U.S. dollar lost its traction after the release of Unemployment Claims for last week. Around 3.1M people reported to file claims for jobless benefits from the U.S. on Thursday and weighed on the U.S. dollar. However, it's going to be a busy day for the U.S. dollar in the wake of high impacted labor market figures, which are due during the U.S. session today. The BTC/USD is on the verge of a major breakout over a key mark of resistance after it examined $9,400 once again during yesterday evening. All of the dominoes have apparently fallen into position for BTC/USD as it advances its third block reward splitting in 11 years, with several traders demanding that it will work as an impetus for the bull market. The major level of resistance to look out for is $9,550, as this begins back to the $20,000 top in December 2017 with denials occurring along the way at $13,150, $12,500, and $10,500. Being able to achieve a daily or weekly over $9,550 would imply a clear change in the market from May when Bitcoin dropped to as low as $3,850. If a move to the upside occurs this weekend, it will symbolize a period of bullish trading above the coming weeks with targets commencing to begin over $13,000. BTC/USD - Daily Technical Levels Support Resistance 9,332 10,367 8,669 10,739 8,297 11,403 Pivot Point 9,704 BTC/USD – Daily Forecast The BTC/USD prices extended it's a bullish trend to trade at and test the 10K level. In the daily timeframe, the pair is finding immediate resistance around 10,050 levels, and violation of this level can extend buying until the next target level of 10,500, which will be market a double top pattern for the day. Below this level, we may see a slight retracement in the Bitcoin today. On the lower side, support continues to hold around 9,470 level. The EUR/USD prices were closed at 1.08314 after placing a high of 1.08339 and a low of 1.07663. Overall the movement of the EUR/USD pair remained bullish throughout the day. After falling for the past three consecutive days, EUR/USD rose on Thursday and posted gains on the back of speech made by European Central Bank's president Christine Lagarde. In reply to the German court ruling of the ECB's bond-buying program, Christine Lagarde said that ECB was not discouraged by the German constitutional court ruling of its bond purchases. She added that the Central bank would do whatever it seems necessary to support the Eurozone economy through the coronavirus crisis. Lagarde said that the European economy was facing the most severe crisis in peacetime, and it was the responsibility of the European Central Bank to take all possible measures to cope up with the crisis. She added that the second wave of coronavirus was among top fears, and there was no sense of how bad the European economy has been affected. So, ECB did whatever it felt was necessary and will do again because they were not undeterred by the German court ruling. As far as the data is concerned, at 11:00 GMT, the German Industrial Production for the month of March showed a decline of 9.2% against the forecasted decline by 7.3% and weighed on single currency EUR. At 11:45 GMT, the French Industrial Production during March also posted a decrease of 16.2% against the forecasted decline by 12.7% and weighed on EUR. The French Prelim Private Payrolls for the quarter showed a decline of 2.3% against the expected decline of 0.3% and weighed on EUR. The French Trade Balance for the month of March showed a deficit by 3.3B against the expected shortfall of 4.6B and supported EUR. At 13:07 GMT, the Italian Retail Sales for the month of March showed a decline of 20.5% against the forecasted decline by 14.95 and weighed on EUR. EUR/USD - Daily Technical Levels Support Resistance 1.0789 1.0858 1.0743 1.0881 1.072 1.0927 Pivot Point 1.0812 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0830, having violated the intraday pivot point resistance level of 1.0812. A bearish breakout of 1.0812 level can lead the EUR/USD prices towards 1.07630, which marks 78.6% Fibonacci level. Below this, the next support stays around 1.0725. On the higher side, resistance holds around 1.0864. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. Consider staying bearish below 1.0808 today. The GBP/USD pair was closed at 1.23614 after placing a high of 1.2418 and a low of 1.22658. Overall the movement of pair remained bullish throughout the day. British Pound after falling for the past four days posted gains on Thursday amid the Bank of England's monetary policy statement. Bank of England maintained its Interest Rates at the same level of 0.1% on Thursday and continued its bond-buying program worth two hundred billion Pounds. In its Monetary Policy Meeting report of May, it also revealed a depressing outlook for the United Kingdom's economy. The Bank of England has hinted that the U.K. economy was moving towards its sharpest recession on record. It also expected the U.K.'s economy to shrink by 14% this year and the unemployment rate to be doubled by 9% during the second quarter. The expectations by BoE for the U.K.'s economy if the meeting would make it the biggest slum of the nation since 1706 when the nation has seen a 15.3% contraction in the economy at the time of The War of Spanish Succession. It also should be noted here that in the 2019 financial crisis due to the U.S. & China trade war, the U.K. economy faces a contraction of 4.2%. On Thursday, the GBP/USD pair rose on the back of the pledge BoE took to handle the coronavirus crisis and to take action to recover its economy. However, given the projected GDP fall and outlook of the economy by BoE, the GBP/USD pair is likely to remain under pressure in the coming days. Support Resistance 1.228 1.2433 1.2197 1.2501 1.2128 1.2585 Pivot Point 1.2349 The GBP/USD is entering into a selling zone below 50 EMA resistance at 1.2450 and under the pivot point level of 1.2376. On the 4-hour timeframe, the GBP/USD has violated the intraday pivot point support level of 1.2349, which is now weighing on the Cable. On the lower side, the Cable is likely to find support around 1.2279 and 1.2207. Considering the RSI and 50 EMA are suggesting chances of selling bias today. On the higher side, the GBP/USD prices are likely to find resistance around 1.2470 and 1.2515. Let's look for selling trades below 1.2427 today. Good luck!

The US dollar traded higher on Thursday morning in Asia due to uncertainty surrounding the market. However, the gold has lost its $1,700 level because the dollar index hit the above high 100s in the wake of increased safe-haven demand. The US Dollar Index that tracks the greenback against a basket of other currencies increased 0.05% to 100.185 by 11:28 AM ET (4:28 AM GMT) as investors looked to the dollar as a safe-haven. Let's wait for Jobless Claims now. The Bitcoin prices showed a slight bears correction, but the overall trading range remains the same around 9,311. Before this, the BTC/USD price gained back a significant portion of its losses from Sunday's weekly close retracement, and figures show that within a previous hour, the leading cryptocurrency has remained below the $9K mark again. After allocating the last few days battling to keep prices over the $9,000 resistance, Bitcoin price caused a strong movement by climbing to $9,380 on Wednesday morning. The 3.65% move caught a place on a high volume wave, but the price immediately pulled backward to $9,126 before moving higher to $9,395 at the time of writing. With just four days and 16 hours left before the Bitcoin halving, investors will be carefully watching to see if the top-ranked crypto-asset on can push above the $9,500 resistance to reach $10,000. BTC/USD - Daily Technical Levels Support Resistance 8,910 9,395 8,674 9,644 8,425 9,880 Pivot Point 9,159 BTC/USD – Daily Forecast The BTC/USD prices dipped to test the support level of 9,040, which is mostly extended upward trendline on the 4-hour timeframe. The BTC/USD has formed an ascending triangle pattern, which may keep the Bitcoin under pressure below 9,415 level. While break out of this range will further define the market movement; however, below 9K, the BTC/USD can remain exposed to the 50 EMA, which is likely to support it around 8,615. The EUR/USD currency pair flashing green but still trading below the 1.08 level, having dropped for the 3-consecutive day on Wednesday. Whereas, the three-day decline has exposed key trendline support located near 1.0760. However, the currency pair is looking flat near below 1.08 ahead of the ahead of German Industrial Production. The EUR/USD is currently trading at 1.0797 and consolidates in the range between the 1.0792 - 1.0805. At the data front, the German data is scheduled to release at 06:00 GMT is expected to show that Industrial Production dropped by 7.5% month-on-month in March, after February's 0.3% growth. It should be noted that the IHS Markit's Purchasing Managers' Index (PMI) for manufacturing dropped to 45.4 in March, which clearly indicating the sharpest decline in manufacturing production since April 2009. German factory orders fell by 15.6% in March as compared to the previous month. According to the forecast, the Industrial Production may face a sharp decline in March. While, the negative figures in the activity will not be surprised to market, as the March month faced a heavy crisis due to coronavirus pandemic while the market is well aware of this. As well as, the coronavirus pandemic also forced Italy, Spain, Germany, and other nations to halt production lines. Therefore, the data figures could fail to entertain the EUR pairs buyers. All of the above factors added to the weakness of EUR against the U.S. dollar and dragged the pair in a bearish trend. On the other hand, the U.S. dollar was also on a strong note after the release of ADP Non-Farm Payroll data, which showed results better than expectations and supported the U.S. dollar. The decline in ADP Non-Farm Employment Change came in less than the expectations during the month of April. The expected number of jobless claims was 20500K, and the actual number came in as 20236K. Weak EUR and strong U.S. dollar dragged the pair EUR/USD for 3rd consecutive day on Wednesday. EUR/USD - Daily Technical Levels Support Resistance 1.0768 1.0834 1.0741 1.0875 1.0701 1.0901 Pivot Point 1.0808 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0793, having violated the intraday pivot point support level of 1.0808. A bearish breakout of 1.0808 level can lead the EUR/USD prices towards 1.07630, which marks 78.6% Fibonacci level. Below this, the next support stays around 1.0725. On the higher side, resistance holds around 1.0864. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. Consider staying bearish below 1.0808 today. The GBP/USD currency pair breaks its early-day consolidation range and hit the new session high near the 1.2375 level, mainly after the BOE decided to leave the interest rate unchanged at 0.10%. As well as, the easing lockdowns in the United Kingdom also keeps the currency pair supportive. Earlier in the morning, the currency pair extended its recent rejection slide from the very important 200-day SMA and dropped to two-week lows but succeded to find support just ahead of the 1.2300 round-figure marks. The GBP/USD currency pair is currently trading at 1.2363 and consolidates in 1.2310 - 1.2377. As per the new BOE report, the Bank of England (BOE) Monetary Policy Committee (MPC) decided to leave the interest rate on hold at 0.10%, whereas maintaining the Q.E. program at GBP645 billion. It should be noted that the Bank of England normally publishes the Bank of England BOE Interest Rate Decision. If the BoE is aggressive about the inflationary outlook of the economy and increases the interest rates, it is seen as positive, or bullish, for the British Pound. Whereas, if the BoE has a dovish outlook on the U.K. economy and keeps the ongoing interest rate, or cuts the interest rate, it is seen as bearish for the GBP. In the meantime, the two-BoE members voted for a £100 billion increase to the Q.E. program. Whereas, the unimportantly dovish vote distribution was dominated on the latest positive report by the UK PM Boris Johnson about partially re-open the economy from Monday. Any optimism related to the economic outlook, even if limited, could boost the GBP/USD and vise versa. On the other hand, the trade deal between the United Kingdom and the United States is on the table of talks after the Brexiters made a convincing argument that membership with E.U. was holding back the U.K. from making more profitable deals with potential trading partners around the world. The trade talks between the U.S. & U.K. are being held via videoconferencing due to coronavirus lockdown. Furthermore, the UK-US deal could pose a threat to the competitiveness of the European Union, and there are chances that E.U. would agree on some of U.K.'s demands of a post-Brexit deal to avoid such a threat. Support Resistance 1.2301 1.2417 1.226 1.2492 1.2185 1.2534 Pivot Point 1.2376 The GBP/USD is entering into a selling zone below 50 EMA resistance at 1.2450 and below the pivot point level of 1.2376. On the 4 hour timeframe, the GBP/USD has violated the intraday pivot point support level of 1.2376, which is now weighing on the Cable. On the lower side, the Cable is likely to find support around 1.2309 and 1.2249. Considering the RSI and 50 EMA are suggesting chances of selling bias until 1.230 and 1.2249. On the higher side, the GBP/USD prices are likely to find resistance around 1.2470 and 1.2515. Let's look for selling trades below 1.2427 today. Good luck!

dThe U.S. dollar edged higher on the back of better than expected performance of the Services Sector of the United States in April. At 19:00 GMT, the U.S. Institute of Supply Management released PMI for the Non-Manufacturing Industry, which exceeded the expectations of 37.5 and came in as 41.8 and supported the U.S. dollar. Later today, the eyes will be on the series of low to medium impact Services PMI figures from the Eurozone. Alongside this, the U.S. ADP figures will also help drive some price action in the market during the U.S. session. During the Asian session today, the Bitcoin prices showed a slight bears correction, but the overall trading range remains the same around 8,970/ Before that, the BTC/USD price gained back a significant portion of its losses from Sunday's weekly close retracement, and figures show that within a previous hour the leading cryptocurrency has remained below the $9K mark again. Despite testing the $8,500 previously, BTC/USD price immediately rebounded and gained support in the $8,700-$8,850 range before spending the bulk of Monday consolidating in this zone. The BTC/USD prices showed some bearish movement considering a stronger U.S. dollar. However, the dovish monetary policy and low-interest rates from the Federal Reserve are likely to keep the Bitcoin bullish in the wake of potential weakness in USD. It seems like; the Bitcoin can hold in the overbought zone for days or even weeks before a correction ensues. BTC/USD - Daily Technical Levels Support Resistance 8,838 9,176 8,638 9,314 8,501 9,514 Pivot Point 8,976 BTC/USD – Daily Forecast On Wednesday, the BTCUSD is exhibiting choppy sessions. However, the technical side of the market mostly remains neutral as the Bitcoin is now facing double top resistance around 9,000, and closing of candles above this level is likely to drive more buying in the BTC/USD pair. Continuation of a bullish trend above 9K level can extend buying until 9,200 and 9,380. RSI and EMA also support an upward trend in the market. However, below 9K, the BTC/USD can remain exposed to the 50 EMA, which is likely to support it around 8,615. The EUR/USD pair was closed at 1.08372 after placing a high of 1.09257 and a low 1.08257. Overall the movement of the EUR/USD pair remained bearish throughout the day. On Tuesday, EUR/USD fell after the German constitutional court ruled that if the ECB could prove the need for bond purchases, then the Bundesbank must stop it. The ruling by court hit the EUR market hard, which was calmed by the aggressive asset purchases by ECB to prevent the economic crisis caused by a coronavirus. However, the decision by the court was not applicable for the ECB's latest program against the pandemic worth 750 Billion euro program, which was announced to prop up the economy. As a result of the court decision, the single currency EUR fell about 0.7% to $1.0826. Another factor included in the downward movement of the EUR/USD pair on Tuesday was the poor economic data. The PPI of the European Union showed a decline more than the forecasted and weighed on EUR. On the other hand, the U.S. dollar edged higher on Tuesday on the back of better than expected performance of the Services Sector of the United States in April. At 19:00 GMT, the U.S. Institute of Supply Management released PMI for the Non-Manufacturing Industry, which exceeded the expectations of 37.5 and came in as 41.8 and supported the U.S. dollar. At 18:45 GMT, the Final Services PMI came almost in line with the expectations of 27.0 and supported the U.S. dollar. EUR/USD - Daily Technical Levels Support Resistance 1.0801 1.0902 1.0763 1.0965 1.07 1.1003 Pivot Point 1.0864 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0833, having completed 61.8% Fibonacci retracement at 1.0833. A bearish breakout of 1.0833 level can lead the EUR/USD prices towards 1.0786, which marks 78.6% Fibonacci level. Below this, the next support stays around 1.0725. On the higher side, resistance holds around 1.0864. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. The GBP/USD pair was closed at 1.24339 after placing a high of 1.24836 and a low of 1.24202. Overall the currency pair GBP/USD moved sideways throughout the day while holding a bearish trend. The GBP/USD moved in between a consolidated range of 1.2420 and 1.2483 on Tuesday. The outlook of the GBP/USD pair suggests that traders are confused about how to react over the recent circumstances when COVID-19 has affected the global economy. The latest escalation in the conflicting relationship between U.S. & China has come in a time when the world is already facing a bigger fear named COVID-19. This pandemic has forced the central banks and governments around the globe to respond with monetary & fiscal easing. Meanwhile, the GDP forecast by the Standard Chartered of the United Kingdom for 2020 was dropped to -6.0%, which was previously forecasted as -3.0%. The expected contraction of GDP in the 1st quarter was reported as 3.4%, while for the second quarter the contraction in GDP is expected to be even large as 12.6%. On the other hand, at 13:30 GMT, the Final Services PMI came in better than the expectations and supported GBP. Sterling was in demand after the services sector of the U.K. exceeded the forecast of 12.3 and came in as 13.4 in the month of April. This helped GBP/USD to move near 1.248 levels on Tuesday. Support Resistance 1.2409 1.2473 1.2383 1.2511 1.2345 1.2537 Pivot Point 1.2447 The GBP/USD is entering into a selling zone after having violated the 1.2447 pivot point level. On the 4 hour timeframe, the GBP/USD has violated the upward trendline, which was supporting the pair around 1.2435. On the lower side, the Cable is likely to find support around 1.2385 and 1.2309. Considering the RSI and 50 EMA are suggesting chances of selling bias until 1.2385. On the higher side, the GBP/USD prices are likely to find resistance around 1.2470 and 1.2515. Let's look for selling trades below 1.2447 today. Good luck!

On Tuesday, the research firm Markit will report final readings of April Services PMI for the U.K. (12.3 expected) and the U.S. (27.0 expected). The European Commission will post March PPI (-2.7% on year expected). The U.S. Commerce Department will release March's trade balance (44.2 billion dollars deficit expected). The Institute for Supply Management will publish its Non-manufacturing Index for April (37.8 expected). During the Asian session, the BTC/USD prices rose to break over the major resistance areas and to trade around $8,943. It crossed over the 200-day SMA (simple moving average), the 200-day EMA (exponential moving average), and the 0.618 Fibonacci Retracement level measured in within $3,600 and $14,000. The BTC/USD is trading around to their highest levels in approximately two months, up as much as $9,478, following the release of worse than expected Jobless Claims data from the U.S. econoU.S.The recorded unemployed people for the previous week increased to 3839K against the expected 3500K and weighed on the U.S. dollar. It seems like the BTC/USD prices can remain high for a while now, considering the significantly low-interest rates, which are making dollar weaker versus Bitcoin. It seems like; the Bitcoin can hold in the overbought zone for days or even weeks before a correction ensues. BTC/USD - Daily Technical Levels Support Resistance 8,689 9,153 8,479 9,408 8,224 9,618 Pivot Point 8,943 BTC/USD – Daily Forecast The BTCUSD prices are on a bullish run, as just now, the Bitcoin prices have violated the double top resistance level of 8,969, and closing of candles above this level is likely to drive more buying in the BTC/USD pair. Continuation of a bullish trend above 8,969 level can extend buying until 9,200 and 9,380. RSI and EMA also support an upward trend in the market. While the recent candle close on the 4-hour timeframe is also bullish engulfing, bullish bias can be seen in the BTC/USD today. the EUR/USD pair was closed at 1.09035 after placing a high of 1.09738 and a low of 1.08954. Overall the movement of the EUR/USD pair remained bearish throughout the day. The EUR/USD pair dropped on Monday amid the risk-off market sentiment after the U.S. administration accused China of holding the information from the rest of the world, which ultimately led to the global pandemic of coronavirus. The World Health Organization has confirmed that it has not received any evidence from the U.S. administration about the speculations of the Wuhan laboratory. The WHO response came in after the U.S. Secretary of State Mike Pompeo said that there were huge shreds of evidence that the coronavirus was originated in the Wuhan laboratory. However, according to the U.S. intelligence agency report, the COVID-19 was not a man-made virus. For the start of the new month, the U.S. dollar remained strong across the board and caused its rival currencies like EUR to move in a downward direction. On Monday, the EUR/USD pair dropped below 1.090 level on the back of weak PMI from the whole bloc. At 12:15 GMT, the Spanish Manufacturing PMI for the month of April showed a contraction in the manufacturing sector of Spain when it came in as 30.8 against the expectations of 35.0. At 12:45 GMT, the Italian Manufacturing PMI exceeded the expectations of 30.3 but still showed contraction when it came in as 31.3 and weighed on EUR. At 12:50 GMT, the French Final Manufacturing PMI came in line with the expectations of 31.5 for the month of April and represented a contraction in manufacturing activities in France. At 12:55 GMT, the German Final Manufacturing PMI showed a decline in the manufacturing sector of Germany when it came in line with the expected 34.5. At 13:00, the Final Manufacturing PMI for the whole bloc was released, which also showed a contraction by 33.4 points of the index. EUR/USD - Daily Technical Levels Support Resistance 1.0896 1.0912 1.0891 1.0921 1.0881 1.0927 Pivot Point 1.0906 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0890, exhibiting bearish bias in the wake of the stronger dollar and weaker Euro. At the moment, the EUR/USD is entering into the selling zone as we cane in the chart above, the Stochastics is crossing below 50 zones. This means the bulls are exhausted, and sellers have entered the market. The EUR/USD is trading with a bearish bias, falling from 1.0906 area to 1.0890 level. Below this, the pair may open further room for selling until 1.0830, which marks a 61.8% Fibonacci level. Below this, the next support can be found around 1.0800. The GBP/USD pair was closed at 1.24416 after placing a high of 1.24854 and a low of 1.24051. Overall the movement of GBP/USD pair remained bearish throughout the day. It is only the second trading day of May, and Sterling has already lost all of its April gains. April was the positive month for Pound, which was derived by the new U.K. tax year and corporate dividend deportation of overseas income. But May seems to be a month for Pound where dollar's strength would decide the movement of under-performed Sterling. Throughout April, Sterling underperformed and picked up its pace at the end of the month due to the weakness of the U.S. dollar across the board. The fall of Pound was caused after it was confirmed that the U.K. was the worst-hit country by the coronavirus pandemic in Europe. This was confirmed after the day-to-day testing of COVID-19 was conducted throughout April. However, U.K.'s Prime Minister Boris Johnson at the end of April announced to come up with a comprehensive plan on how to restart the economy and restart the schools and hospitals and transports to bring back the normal life. This gave hopes to Britain about the easing of lockdown and better economic conditions. Support Resistance 1.2449 1.247 1.244 1.2482 1.2427 1.2491 Pivot Point 1.2461 The GBP/USD is recovering from earlier losses as it's the price has bounced off from 1.2406 level. The Cable price has retraced higher to complete 23.8% Fibonacci retracement at 1.2461 level, which also marks the pivot point area for Sterling today. Next support is expected to be found around 1.2384, which mark's double top pattern now and closing of candles below this level are indicating odds of bearish retracement, mainly because the Cable is trading in the selling zone. On the lower side, violation of 1.2384 level may extend selling until 1.2309 level while resistance will continue to pressure around 1.2520 today. Good luck!

The U.S. dollar remains weaker due to more than expected unemployment claims. The recorded unemployed people for the previous week increased to 3839K against the expected 3500K and weighed on the U.S. dollar. Later today, during the New York session, the market will be following ISM Manufacturing PMI from the United States. Later today, the eyes will remain on the E.U. Economic Forecasts as it may help drive some movement in the market today.     During the previous week, the BTC/USD prices soared sharply to violate major resistance areas and to trade around $9,400. It crossed over the 200-day SMA (simple moving average), the 200-day EMA (exponential moving average), and the 0.618 Fibonacci Retracement level measured in within $3,600 and $14,000. The BTC/USD prices soared to their highest levels in approximately two months, up as much as $9,478, following the release of worse than expected Jobless Claims data from the U.S. econoU.S.The recorded unemployed people for the previous week increased to 3839K against the expected 3500K and weighed on the U.S. dollaU.S. It seems like the BTC/USD prices can remain high for a while now, considering the significantly low-interest rates, which are making dollar weaker versus Bitcoin. It seems like; the Bitcoin can hold in the overbought zone for days or even weeks before a correction ensues. BTC/USD - Daily Technical Levels Support Resistance 8,689 9,153 8,479 9,408 8,224 9,618 Pivot Point 8,943 BTC/USD – Daily Forecast The Bitcoin's immediate resistance holds below 8,840 level, which marks the pivot point of the day. Closing of candles below this level is suggesting odd's of bearish potential bearish retracement in the Bitcoin. On the lower side, Bitcoin may find immediate support at 8,370 level. Violation of this 8.370 can open up additional space for selling until 8,100 and 7,700. The market is extremely volatile. Therefore, a bullish crossover of 9,465 can lead to Bitcoin prices towards 10K psychological mark. The EUR/USD pair was closed at 1.09785 after placing a high of 1.10186 and a low of 1.09343. Overall the movement of the EUR/USD pair remained bullish throughout the day. On Friday, euro raised higher for the 3rd consecutive day in spite of the risk-off sentiment in the market. EUR/USD pair has posted gains for five days in the last six days and has recovered some of its losses by moving from 1.072 to 1.101. The rise of EUR/USD above 1.101 level was due to the weakened U.S. dollar across the board after the release of weaker than expected U.S. manufacturing data. The ISM Manufacturing Purchasing Manager's Index dropped to its lowest level for 11 years on Friday on the back of coronavirus pandemic, which resulted in a contraction in U.S. manufacturing activities by affecting the supply chain across the globe. In the U.S. session, EUR/USD pair jumped over 1.101 level due to weakened U.S. dollar, but in the European session, it remained steady because of the empty Eurozone Calendar where major European markets were closed for Labor Day. On Thursday, the ECB left its interest rates unchanged but introduced a new lending program, the initial reaction to this decision of ECB was negative, but in Friday markets were stabilized afterward. On the other hand, the U.S. Federal Reserve also announced two lending programs for Municipal Bonds and Main Street this week. EUR/USD - Daily Technical Levels Support Resistance 1.095 1.0977 1.0937 1.0993 1.0922 1.1005 Pivot Point 1.0965 EUR/USD – Daily Forecast The EUR/USD is trading at 1.09410, exhibiting bullish bias in the wake of the weaker dollar amid worse than expected jobless claims data from the U.S. econoU.S.At the moment, the EUR/USD is entering into the overbought zone. As we see in the chart above, the Stochastics is entering over 80 zones, and this means the bulls can get exhausted soon, and sellers are looming around the corner. The EUR/USD is trading with a bearish bias, falling from 1.0970 area to 1.0940 level. Below this, the pair may open further room for selling until 1.0940, which marks a 38.2% Fibonacci level. Below this, the next support may be found around 1.0890. The GBP/USD pair was closed at 1.24943 after placing a high of 1.26002 and a low of 1.24828. Overall the movement of pair GBP/USD remained bearish throughout the day. The GBP/USD pair came under fresh selling pressure on the last day of the week after posting gains for the last two consecutive days. At 13:30 GMT, the Final Manufacturing PMI from the United Kingdom was released, which came in line with the expectations of 32.8 and had almost no impact over the pair. The M4 money supply surged to 2.8% against the expectations of 0.2%. The M4 money supply measures the change in the total quantity of money in circulation as well as in the bank's deposits. A sharp increase in the M4 money supply in the month of March supported Sterling on Friday. The Mortgage Approvals for the month of March dropped to 56K against the forecasted 59K and represented a decreased number of purchased homes during the month, which impacted negatively on the single currency Pound. Moreover, the Net Lending to individuals in the month of March was reported as 1.0B, which was lesser than the forecasted number of 4.2B, and it also affected Pound in negative ways. Decreased number of Homes purchases and Net Lending caused the pair GBP/USD to move in a downward direction. Although the Manufacturing PMI of the U.K. exceeded the expectations, it still showed a contraction in the manufacturing sector by falling further in the month of April. It was caused by the coronavirus pandemic, which has created enormous disruptions for the supply chain. This sent the UK PMI from 47.8 in March to 32.6 in April and caused GBP to fall. Support Resistance 1.2436 1.249 1.2416 1.2524 1.2382 1.2544 Pivot Point 1.247 The GBP/USD prices trading sharply bearish, in the wake of stronger U.S. dollar and weaker Sterling bais. The Cable prices have dipped below 1.2470, which marks the pivot point area for Sterling today. Next support is likely to be found around 1.2384, which mark's double top pattern now and closing of candles below this level are indicating odds of bearish retracement, mainly because the Cable is trading in the selling zone. On the lower side, violation of 1.2384 level may extend selling until 1.2309 level while resistance will continue to pressure around 1.2520 today. Good luck!

A day before, the U.S. dollar weakened after the Federal Reserve kept the Fed fund interest rates steady and reiterated a pledge to do what it needs to shore up the economy that has been punished by business shutdowns due to the novel coronavirus. The dollar has declined over 3% after mounting a more than the three-year high of 102.99 in late March as global central banks initiated massive incentive measures to preserve economies from the coronavirus pandemic. The Fed's statement was released after the economic data exhibited that the U.S. economy shrank in the first quarter. On Wednesday, during the U.S. session, the BTC/USD pair soared dramatically to trade at 8,900 levels, and it seems to head toward $10,000 soon. The bitcoin price surged over 30% since the end of March, has almost erased its coronavirus crash losses—and is beating the U.S. S&P 500 index along with most other major markets. On Wednesday, Bitcoin (BTC) price shattered by a range of essential resistance levels as investors ponied up and initiated their target on the $9K level. Today's $1,123 wave enabled Bitcoin price to violate several crucial levels, such as the major resistance at $8,000 and $8,500. With the move above $8,000, the BTC/USD has also cleared the yearly pivot level of $8,100, which makes it bullish for now. Let's look at the technical side of the market. BTC/USD - Daily Technical Levels Support Resistance 8,540 9,137 8,147 9,342 7,942 9,735 Pivot Point 8,745 BTC/USD – Daily Forecast The BTC/USD traded dramatically bullish to trade at 8,900 level. The leading crypto pair has already violated the major resistance level of 8,841 level. The BTC/USD pair has closed a bullish engulfing candle on the daily timeframe, which is signaling odds of more buying soon. With that being said, the pair can soar towards the initial trading level of 9,208, and bullish crossover of this level may drive further buying until the next resistance level of 10k. On the lower side, Bitcoin's immediate support holds around 8,745. The EUR/USD surged from 1.0860 to 1.0880, touching a new daily high upon the announcement of the FOMC statement. The U.S. dollar dragged back over the board, but several minutes later, retrieved from most of its losses. At the moment, the EUR/USD pair is consolidating at 1.0870, keeping a bullish intraday bais blow triple top resistance level. Most of the moment in the EUR/USD pair was driven in the wake of the weaker U.S. dollar. Following two months of exceptional action in reply to the coronavirus pandemic, Federal Reserve executives joined via web conference over the past two days to get a current report and will release their conclusions openly later Wednesday afternoon. At the same time, the European Commission confirmed a 5 billion euro (4.37 billion pounds)credit guarantee to the carmaker Renault group to alleviate the influence of the coronavirus crisis. The Commission, which manages competition policy in the European Union, has tentatively relaxed its rules to allow E.U. nations to help their economies that are expected to go into bankruptcy as a consequence of lockdown measures. The scope of the Fed's reply to the health crisis is remarkable, but in a sense, the central bank is yet, like each of us, directed to fluid developments in combating COVID-19 and questions about when the stay-at-home orders are repealed. Overall, the EUR/USD pair gained support on the release of dovish FOMC. EUR/USD - Daily Technical Levels Support Resistance 1.0843 1.0897 1.0809 1.0919 1.0788 1.0952 Pivot Point 1.0864 EUR/USD – Daily Forecast On Thursday, the EUR/USD is consolidating at 1.0865 level. The is expected to face an immediate resistance around 1.0880, which is extended by a triple top pattern that can be seen on the 4-hour chart above. The 50 EMA is suggesting buying, while the Stochastic is also holding above 50, both are suggesting a bullish trend in the EUR/USD. We may see further buying trend in the EUR/USD pair if it manages to crossover 1.0885 resistance level. On the higher side, the next resistance will prevail around 1.0935. Conversely, a bearish crossover of 1.08400 level can extend selling until 1.0816 level. Consider taking buying trades above 1.0880 resistance today, and selling below 1.0860. The GBP/USD continues to exhibit bullish bias in the wake of a weaker U.S. dollar. On Thursday, the GBP/USD is consolidating in between a narrow trading range of 1.2389 and 1.2485, as investors seem to ignore the FOMC report's impact. The U.S. Central Bank Federal Reserve has left rates steady, although greatly improved the statement. In a collective vote on Wednesday, the Federal Open Market Committee (FOMC) declared that the Fed is going to leave the benchmark interest rate steady within the same target range of 0% - 0.25%, however, no major move was seen since this was widely expected decision. The British Pound has soared along with few other 'risk-on' currencies as traders praised moves by major economies to reduce limitations on daily life, boosting hopes of a swift recovery from the historical depths of recession expected to have been explored by many amid the contemporary crisis. British PM Boris Johnson will meet the leaders of the devolved administrations in Scotland, Wales, and Northern Ireland to discuss extending or easing the strict social distancing measures. Today, investors will be keeping their eyes on the U.S. jobless claims data, which is due during the U.S. session as it has the potential to drive some movement in the GBP/USD pair. Support Resistance 1.241 1.2507 1.2351 1.2545 1.2314 1.2604 Pivot Point 1.2448 The GBP/USD pair trading bullish around 1.2476 level, and it's exhibiting strong bullish bias, especially due to profit-taking in the U.S. dollar. On the 4 hour timeframe, the GBP/USD has formed a bullish engulfing candle, which is suggesting strong odds of bullish trend continuation in the GBP/USD pair. Continuation of a bullish trend may lead the GBP/USD prices further higher until 1.2522 level, while support holds around 1.2453 level today. The 50 periods EMA and RSI are staying in a bullish zone. Hence we should look for buying trades in the Cable today. Good luck!

On Wednesday, the dollar was on the rear foot as the slowing range of the coronavirus and progress to re-open economies boosted the trader's mood, ahead of major central bank meetings. Traders will be waiting to inspect if the U.S. central bank provides any evidence on its projected policy path following it reacted to the economic desolation of the COVID-19 pandemic by severing rates, buying bonds, and backstopping credit markets.     A day before, the leading cryptocurrency Bitcoin continued to trade sideways in the wake of thing trading volume in the market. The trend is bearish while its volatility is increasing. BTC/USD is dancing at $7,683, although it has touched $7,795 (intraday high) to the upside. So far, the Bitcoin prices continue to move in a tight trading range of 7,625 - 7,800. Traders seem to wait until the bitcoin prices violate this range and determine the apparent trend. Hence, we can do sideways trading until this range gets violated. Previously, the BTC/USD abruptly soared over $7,700, indicating the remainder of the weekend, accompanying with the weekly close will generate higher than typical levels of movement. Overall, the BTC/USD prices remained comparatively stable during the weekend and even on Monday, maintaining last week's accumulated gains over $7,500. Nevertheless, the bullish action immediately extended on the upper side, with $8,000 being the immediate resistance. BTC/USD - Daily Technical Levels Support Resistance 7,694 7,815 7,622 7,864 7,573 7,936 Pivot Point 7,743 BTC/USD – Daily Forecast On Wednesday, the BTC/USD prices were following a sideways movement, but just now, it has violated the sideways trading range of 7,625 - 7,800. At the moment, the BTC/USD price is holding over 7,800 resistance level, and a bullish breakout of 7,800 is likely to lead the BTC/USD prices further higher until 8,004. While the bearish breakout of 7,625 level can lead the Bitcoin prices further lower towards 7,448 area. On the 4 hour timeframe, the Bitcoin has also formed an upward channel which is suggesting odds of bullish trend continuation in the Bitcoin. Let's look for buying trades over 7,800 levels until the trading range violated. The EUR/USD continues to trade at 1.08450 after soaring to 1.0880 level on Tuesday. The broad-based U.S. dollar draw offers and reporting losses on the day in the wake of risk-on market sentiment, which eventually supports the currency pair. At the USD front, the bearish sentiment around the U.S. dollar eased and taking bids due to higher U.S. yields While the 10-year hit 0.65%, the highest level since April 17. As we know, President Donald Trump continues to push for re-opening the U.S. economy keeps the U.S. dollar bullish. Market's risk-tone remains mostly inactive with the U.S. 10-year Treasury yield taking rounds to 0.65% and getting mixed performances from the Asian stocks. The German Chancellor Merkel showed some willingness to offer almost EUR 1 trillion as financial support for a coronavirus recovery package. The leaders failed to reach an agreement on the size of the fund, and it should share the burden of financing with those countries that run fiscal and trade surpluses. Later today, the eyes will remain on the U.S. GDP figures and Federal Reserve FOMC rate decision to determine further trends in the market. EUR/USD - Daily Technical Levels Support Resistance 1.0798 1.0878 1.0764 1.0924 1.0718 1.0958 Pivot Point 1.0844 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0845 level, and it's expected to face a resistance level of 1.0880, which is stretched by a bearish trendline on the 4-hour timeframe. The 50 EMA is suggesting buying, while the Stochastic is also holding above 50, both are suggesting a bullish trend in the EUR/USD. Today, the EUR/USD may find support around 1.0770 area while the breakout of this level may extend selling until 1.0720. On the higher side, resistance continues to hold around 1.08860 level, and selling should be preferred below this level. On Wednesday, the GBP/USD shows a bullish trend as the U.S. dollar weakens while catching the bids to 1.2475, up 0.40% on a day before the start of the European session. The pair observed a pullback on the previous day amid uncertainties over the U.K. government's coronavirus (COVID-19) figures. Nevertheless, the pre-FOMC, US GDP mood appears to restore the pair's strength. At present, the GBP/USD is training at 1.2475 and consolidates in the range between the 1.2520 - 1.2420. The Sterling crawled higher versus the U.S. dollar as traders turned their focus to Federal Reserve and European Central Bank conferences this week while officials could publish further incentives to ease the shock on their economies of the coronavirus crisis. At the Brexit front, the European Union's (E.U.) E.U.'s Chief Negotiator Michel Barnier said that the discussions of Brexit have been disappointing so far. The major reason behind could be the Tory government's refrain from extending the Brexit deadline from December 31, 2020. At the USD front, the bearish sentiment around the U.S. dollar eased and taking bids due to higher U.S. yields, while the 10-year hit 0.65%, the highest level since April 17. President Donald Trump continues to push for re-opening the U.S. economy keeps the U.S. dollar bullish. Market's risk-tone remains mostly inactive with the U.S. 10-year Treasury yield taking rounds to 0.65% and getting mixed performances from the Asian stocks. Support Resistance 1.2387 1.2502 1.2338 1.2568 1.2272 1.2617 Pivot Point 1.2453 The GBP/USD pair trading bullish around 1.2476 level, and it's exhibiting strong bullish bias, especially due to profit-taking in the U.S. dollar. On the 4 hour timeframe, the GBP/USD has formed a bullish engulfing candle, which is suggesting strong odds of bullish trend continuation in the GBP/USD pair. Continuation of a bullish trend may lead the GBP/USD prices further higher until 1.2522 level, while support holds around 1.2453 level today. The 50 periods EMA and RSI are staying in a bullish zone. Hence we should look for buying trades in the Cable today. Good luck!

A day before, the U.S. dollar slipped across the board as various countries laid out plans to loosen limitations on businesses that have been blocked in the wake of novel coronavirus outbreak, increasing risk appetite and reducing demand for the safe-haven U.S. currency. The significant movement with risk appetite will probably stem from expectations on when key economies resume. Today, the focus will remain on the latest updates from COVID19, European Spanish Unemployment Rate, and U.S. consumer confidence figures, which are expected to release during the trading sessions today. Economic Calendar On Monday, the Bitcoin prices haven't changed much due to a lack of liquidity in the market. Even today, on Tuesday, the Bitcoin prices continue to move in a tight trading range 7,625 - 7,800. We can't have much of the trading opportunity until the bitcoin prices break this range and determine the clear trend. Elsewhere, we can do choppy sessions until this range gets violated. Previously, the BTC/USD abruptly soared over $7,700, indicating the remainder of the weekend, accompanying with the weekly close will generate higher than typical levels of movement. Overall, the BTC/USD prices remained comparatively stable during the weekend and even on Monday, maintaining last week's accumulated gains over $7,500. Nevertheless, the bullish action immediately extended on the upper side, with $8,000 being the immediate resistance. BTC/USD - Daily Technical Levels Support Resistance 7,685 7,847 7,579 7,904 7,522 8,010 Pivot Point 7,741 BTC/USD – Daily Forecast The BTC/USD prices haven't moved much, as it continues to move in a tight trading range 7,625 - 7,800. At the moment, the BTC/USD price is holding around 7,713 level, and a bullish breakout of 7,800 can open buying trend until 8,004 trading range while the bearish breakout of 7,625 level can lead the Bitcoin prices further lower towards 7,448 area. On the 4 hour timeframe, the Bitcoin has also formed an upward channel which is suggesting odds of bullish trend continuation in the Bitcoin. Let's look for buying trades over 7,635 levels until the trading range violated. Today in the early Asian session, the EUR/USD currency pair continues to retrace back to trade at 1.08250 after soaring over 1.0840 level today. The broad-based U.S. dollar draw offers and reporting losses on the day in the wake of risk-on market sentiment, which eventually supports the currency pair. Yesterday's bullish trend in the EUR/USD pair proved to be short-lived because the European leaders failed to agree on a comprehensive coronavirus stimulus package last week. At the moment, the EUR/USD is holding at 1.0825 and consolidates in the range between the 1.0812 - 1.0843. On the other hand, the German Chancellor Merkel showed some willingness to offer almost EUR 1 trillion as financial support for a coronavirus recovery package. The leaders failed to reach an agreement on the size of the fund, and it should share the burden of financing with those countries that run fiscal and trade surpluses. As per the German disease and epidemic control center, Robert Koch Institute (RKI) showed the number of confirmed coronavirus cases increased to 155,193, with a total of 5,750 deaths registered so far. Moreover, the institute surveyed that a total of 114,500 people has recovered from the virus. Therefore, the declining trend in the daily new infections and death tolls is encouraging news, because the government is going towards easing of the lockdown restrictions. EUR/USD - Daily Technical Levels Support Resistance 1.0804 1.0858 1.0779 1.0887 1.0749 1.0912 Pivot Point 1.0833 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0825 level, and it's expected to face a resistance level of 1.08500, which is stretched by a bearish trendline on the 4-hour timeframe. For now, the 50 EMA has switched to 1.0825 area, and the EUR/USD is tossing above and below this level. The RSI is in the oversold zone now, but we should ignore it as the market is moving sideways, and during such situations, the RSI doesn't extend a reliable signal. Today, the EUR/USD may find support around 1.0770 area while the breakout of this level may extend selling until 1.0720. On the higher side, resistance continues to hold around 1.08500 level, and selling should be preferred below this level. The GBP/USD currency pair succeeded in extending its 4th consecutive day winning streak and rose above mid-1.2400 while representing 0.60% gains on the day mainly due to the broad-based U.S. dollar weakness in the wake of better mood in the market. Apart from this, the on-going criticism about the U.K.'s handling of the coronavirus (COVID-19) crisis and Tory government's stand on Brexit keeps the currency pair's gain limited for the time being. At present, the GBP/USD is training at 1.2417 and consolidates in the range between the 1.2360 - 1.2455. However, the UK PM Boris Johnson came back from the pandemic infection, which satisfied the buyers. The PM Boris Johnson will likely take its seat back from the acting chief Dominic Raab after getting permission from the doctors at the Chequers. Although, Boris Johnson said that he is looking forward to going to Downing Street on Monday. As we all well aware that the Uk PM Boris Johnson was absent since early April due to the coronavirus decease. Whereas, the UK Tory government getting an inadequate response from the entire nation about the handling of the coronavirus (COVID-19) crisis despite the hard efforts from the Chancellor Rishi Sunak and Health Secretary Matt Hancock, and the Deputy PM Dominic Raab. Although, the shortage of medical supplies and the surge in the death toll have forced the United Nations (U.N.) poverty expert Philip Alston to attack the U.K.'s coronavirus response as "utterly hypocritical. Moreover, the Health Secretary's optimistic target of 100,000 tests a day got a surprise on Saturday after the government needed to avail the military helps to overcome the 29,000 marks. At the Brexit front, the European Union's (E.U.) E.U.'s Chief Negotiator Michel Barnier said that the discussions of Brexit have been disappointing so far. The major reason behind could be the Tory government's refrain from extending the Brexit deadline from December 31, 2020. As in result, the market's risk-tone sentiment remains moderately positive with the U.S. 10-year Treasury yields gaining more than 3-basis points (bps) to 0.632% while the Asian stocks are also flashing gains by the press time. Looking forward, the UK PM Boris Johnson is set to announce some critical decisions about when the lockdowns will be eased while also expected to give signals about Brexit proceedings. It should also be noted that Chancellor Sunak's loans to the small companies failed to leave any significant impact. Support Resistance 1.2374 1.2471 1.2318 1.2512 1.2277 1.2568 Pivot Point 1.2415 The technical side of the GBP/USD pair is suggesting indecision among traders as the pair is holding at 1.2415, attempting to break the sideways trading range of 1.2445 - 1.2400 level. The Sterling is likely to find immediate support around 1.2425, which marks a pivot point level for the day while the bearish breakout of this level can extend sell-off until the next support level of 1.2355 level. The resistance stays at 1.2459 area, and above this, the triple top level will be worth watching at 1.2522 level. The RSI and Stochastics are holding below 50, supporting selling bias in the GBP/USD pair. Today, let's look for buying over 1.2415 and selling below the same level today. Good luck!

The global stock market indices and the U.S. dollar seems to be proposing a potential turning point with the stimulus trade. Global stocks have been broadly backed by unique stimulus from central banks and states, but that appears to be missing some of its firepowers, while the constant demand for U.S. Bonds has buoyed the greenback. The subsequent significant movement with risk appetite will probably stem from expectations on when key economies resume. Today, the focus will remain on the Japanese unemployment rate and the latest updates from COVID19. Economic Calendar The BTC/USD price continues to soar week in and week out, as another 9% has been combined to its price since the previous Sunday. Nevertheless, with the block reward halving being presented over two weeks away, and drilling pressure set to grow 5% further. The BTC/USD prices have abruptly jumped over $7,700, implying the remainder of the weekend, along with the weekly close will produce higher than usual levels of activity. The progress to $7,708 was short-lived but almost set a higher high above Thursday's dramatic wave to $7,742. Currently, the BTCUSD price is trading sideways between $7,600-$7,769 as traders have violated the intraday pivot point level of 7,632 to press the price above $7,600. Bullish seems stronger today. BTC/USD - Daily Technical Levels Support Resistance 7,557 7,776 7,413 7,851 7,338 7,995 Pivot Point 7632 BTC/USD – Daily Forecast During the previous week, the BTC/USD violated the symmetric triangle pattern, which was extending resistance at 7,200 level, and as a result, the Bitcoin bulls gain motivation to drive its prices higher towards 7776 levels. Currently, the BTC/USD prices are holding in a narrow trading range of $7,600-$7,769, and violation of this will help determine the next trend in the BTC/USD pair. A bullish breakout of 7,769 range can lead the Bitcoin prices further higher until 8,000 psychological level while bearish breakout of 7,632 support level can drive selling until 7500 and 7391 levels. Bullish bias seems stronger today. The EUR/USD is trading slightly bullish around 1.0825 level, closing Doji and spinning top candles below the downward trendline, which can be seen at the 4-hour timeframe. However, the single currency Euro is still weaker as a dispute over Europe's emergency reserve pulled down the single-currency. According to news, the European Union granted to build a trillion Euro emergency reserve; however, it left the details for later. According to the European Central Bank (ECB), Italy and Spain faced far harder than Germany by the crisis; traditional animosities have surfaced over a bloc, which allows a cut to output as deep as 15%. During the previous week, the preliminary Markit surveys for April activity dropped, and the German manufacturing index slipped sharply to 34.3 while services PMI figures reported declined to 15.9. For the whole Union, the manufacturing PMI finished at 33.6, while the services index rushed to 11.7, all historic lows. Besides, the German GFK Consumer Confidence figures for the month of May slipped to -23.4 versus the previous 2.7, while the ECB declared that it would take some junk-rated securities as collateral to alleviate the impact of potential rating downgrades. Later today, eyes will be on the COVID19 updates as the Eurozone isn't expected to deliver any major economic news. EUR/USD - Daily Technical Levels Support Resistance 1.0812 1.0829 1.0802 1.0836 1.0795 1.0847 Pivot Point 1.0819 EUR/USD – Daily Forecast Technically, the EUR/USD is trading at 1.0824 level, and it's likely to face a strong resistance level of 1.08500, which is extended by a downward trendline on the 4-hour timeframe. At the same spot, the 50 periods EMA is also extending resistance, while the closing of EUR/USD candles below this level is confirming the chances of selling bias in the EUR/USD pair. The RSI and Stochastics are in overbought zoner, and sooner or later, it may trigger bearish retracement in the EUR/USD pair. In case of a bullish breakout, we may see EUR/USD prices higher towards 1.0880 level while on the lower side, the EUR/USD pair hold around 1.07280. The GBP/USD pricers trade higher on Monday after the U.S. durable goods data showed the biggest drop of -14.4% vs. economists forecast of -12% and the previous figure of 1.1%. The worse than expected U.S. figures drove the GBP/USD prices higher as the U.S. dollar started getting weaker on Friday, and it continues to support bullish bias in the Cable on Monday due to lack of high impact economic events. On the other hand, Sterling's bullish trend is being pressured as official figures showed sales volumes fell by 5.1% in March, indicating the hit from the coronavirus shutdown, which ended many businesses in the second half of the month. The fall, which was bigger than a median forecast for a drop of 4.0% in a Reuters poll of economists, came despite a surge in shopping for food. The Health Secretary Matt Hancock is suggesting the start of the human trials over 300,000 people in a year. Later today, eyes will remain on the Retail sales data from the U.K., which is going to help us determine further trends in the market. As Britain's lockdown rules limit people's capacity to live, work, and spend money, as usual, economists assume the country to see its most severe economic recession in more than 300 years. Consequently, the Sterling may face selling pressure over sentiments, but the technical side seems to support the GBP/USD pair. Support Resistance 1.2363 1.2371 1.2359 1.2375 1.2356 1.2379 Pivot Point 1.2367 On Monday, the technical side of the GBP/USD pair is suggesting a bullish bias as the pair is trying to crossover the 50 EMA resistance level of 1.2390, while it has already violated the triple top resistance level of 1.2367 level. Bullish trend continuation can lead the GBP/USD prices further higher until 1.2450 and 1.2500 level while the intraday pivot point support holds around 1.2367 level. Closing of candle below this level may drive selling bias until 1.2245 level. The RSI and Stochastics are holding over 80, supporting bullish bias in the GBP/USD pair. Today, let's look for buying over 1.2367 and selling below the same level today. Good luck!