The U.S. .dollar traded with a bullish bias versus the currencies of oil raisers on Thursday as a recovery in crude prices from an unexpected breakdown only partly soothed markets uncertainty by the massive coronavirus-led decline in global demand. The Euro held poised toward the greenback and the pound ahead of an of the meeting of European Union executives on the bloc's acknowledgment of the economic turbulence generated by the global coronavirus pandemic. On the news front, the eyes will remain on the U.K. retail sales, German Ifo Business Climate, and U.S. durable goods orders; however, almost all of the economic events are expected o perform worse than the previous economic data. Economic Calendar The BTC/USD prices are exhibiting indications the market is more confident about the cryptocurrency. The Bitcoin prices showed some dramatic buying after the violation of the symmetric triangle pattern on the 4-hour timeframe. The world's leading cryptocurrency jumped 10% on Thursday before the expiration of April CME futures. Overall the prices surged from $7,018 level to place a high of around $7,765. The BTC/USD futures contract for the month of April ended at $7,115 on Thursday. Whereas, the contract for the month of May delivery came in almost $40 above the previous price, signaling a positive outlook. At this moment, the BTC/USD has settled back around 7,429 – a critical support level that traders seem to watch closely. It will be interesting to see how traders respond to this level in the days ahead as a violation of this could trigger selling until 7,200 and even until 7,090 levels. BTC/USD - Daily Technical Levels Support Resistance 7,091 7,824 6,696 8,163 6,357 8,557 Pivot Point 7429 BTC/USD – Daily Forecast On the 4 hour timeframe, the BTC/USD has violated the symmetric triangle pattern, which can be seen on the 4-hour timeframe. The pattern was extending resistance around 7,200 level, and since this pattern is already violated, now this resistance level of 7,200 is likely to work as support for Bitcoin. Traders will keep an eye on the intraday pivot point support level of 7,429 level today, and violation of this level on the lower side can lead to Bitcoin prices until 7,200, which also marks the 61.8% Fibonacci support level. The bullish bias is likely to remain strong only if BTC/USD manages to hold above 7,430 level today. On Friday, the EUR/USD is trading below a crucial trading level of 1.0792, which can be seen in the 4 hours timeframe. A day before, the Eurozone's macroeconomic numbers triggered dramatic price action for a change, although the figures revealed the outrage made by the ongoing pandemic not only on the Eurozone's but also on global economics. 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. The bearish trend in the EUR/USD also triggered as the E.U. leaders neglected to agree on a coronavirus recovery plan as bloc officials are at differences over how to support it. The economic bloc of 27 countries, however, did support a short-term $540 billion program to help businesses and economies from the direct fallout from the coronavirus. EUR/USD - Daily Technical Levels Support Resistance 1.0739 1.0828 1.0703 1.0881 1.065 1.0917 Pivot Point 1.0792 EUR/USD – Daily Forecast A day before, the EUR/USD violated the symmetric triangle pattern and started trading below a range of 1.0900 - 1.0800; at the moment, the EUR/USD is trading at 1.0769 area, and it has already violated the daily pivot point level of 1.0790. Below this level, the EUR/USD can drop until the next support level of 1.0720. As we can see in the chart above, the EUR/USD has formed a bearish engulfing candle at 1.0790, which is likely to drive selling bias in the pair. At the same time, the 50 periods EMA and Stochastics are also crossing below 20, suggesting strong selling bias. Let's look to stay bearish below 1.0790 today with a target of 1.0720. The Sterling originally sought to rally during the trading session yesterday, but it ended up giving back the profits to build a bit of a star-shaped shooting candlestick. We also had seen the same sort of candlestick for the last session, so I guess at this level, what we are watching at is a proclivity to sell rallies. For GBP, the broader view therefore means, and the near-term forecast holds on improvements in oil and stock exchanges, while for the Euro, the result of an upcoming European Council meeting on financing a coronavirus economic plan will be watched. The members of the cabinet got the chance for the first time to criticize Prime Minister Boris Johnson and Company's poor performance about managing the coronavirus crisis in the U.K. However, the members did not only criticized for the lack of medical supplies, but they also indicated the shortage of nurses. Consequently, the deputized PM indicated the nearness to the peak of the outbreak. 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. Support Resistance 1.2301 1.2408 1.2251 1.2465 1.2194 1.2515 Pivot Point 1.2358 On Friday, the eyes will be on the U.K. retail sales data; however, the technical side is suggesting a bearish bias for the GBP/USD pair. On the 4 hours timeframe, the GBP/USD is holding at 1.2348, right below the downward channel resistance level of 1.2368. At the same level, the Cable is also finding resistance by the 50 periods EMA. Closing of candles below this level means the odds of selling in the GBP/USD remain high until the next support level of 1.2215 level. Conversely, the bullish breakout of 1.2400 levels opens up further room for until next resistance level of 1.2510. Good luck!

On Thursday, the greenback accelerated ahead versus the currencies of oil yielders as a bounce-back in crude prices from an abnormal collapse only partly soothed markets weakened by the massive coronavirus-led decline in global demand. Today, the market's focus is going to be on the manufacturing and services PMI figures, which are scheduled to come out from the Eurozone. Let's take a look at the significant trade setups. Economic Calendar The BTC/USD price has started trading in the bullish region around 7,147 area during the Asian session. The BTC/USD has tested and already violated the psychological resistance level of $7000. The Bitcoin price has also crossed over the 50 periods exponential moving average and is already trading over the 200 simple moving average on the 4-hour timeframe. The price action in Bitcoin is looking strong, as we can observe from the chart here, but the high of 7466.00 is likely to be taken out for the bulls to remain in charge. If that doesn't appear then, the price could look for support levels around 6,818.58; that level seems solid as it has been examined a few times in the past. The next major downside target stays at $6500, which, if breached, could invite a huge wave of selling. Support Resistance 6,913 7,219 6,730 7,342 6,424 7,648 Pivot Point 7,036 BTC/USD – Daily Forecast The BTC/USD prices showed slight surged to trade below 7,212 level, but it managed to close below this level. Closing of candles below this level is suggesting chances of a bearish bias in Bitcoin. Below 7,212, we can expect some bearish bias until the support levels of 6,930. Bullish crossover of 7,210 level can extend the buying trend until the next resistance level of 7,430. Today in the early Asian session, the EUR/USD currency pair failed to stop its previous sessions losing streaks and dropped to weekly lows near the 1.08 level ahead of European flash PMIs while the currency pair is representing 0.10% losses on the day, possibly due to the recent recovery in the U.S. dollar. The EUR/USD is trading at 1.0814 and consolidates in the range between the 1.0804 - 1.0826. However, traders are cautious about placing any position ahead of European flash PMIs. It should be noted that the Eurozone's preliminary PMI numbers for April may test the desire for the EUR during the European trading hours. Whereas, Germany's Markit Manufacturing PMI, which is scheduled to release at 07:30 GMT, is expected to show the decline in the manufacturing sector gathered pace in April. In the meantime, the PMI is expected to drop to 39 from March's 45.4. The Eurozone Manufacturing PMI is also anticipated to drop to 39.2 in April from 44.5 in March. According to on-going circumstances, there should no surprise come if the manufacturing activity release worsens because, as we know, most of the European economy suffered in tight lockdowns earlier this month to control the coronavirus outbreak. As in result, the shared currency could draw offers during the Europan session if the actual reading shows a bigger-than-expected decrease. Following the data, the trader's focus will shift to the European Union meeting. The EUR/USD currency pair may take strong bids only if the meeting bridges strong divisions on the contentious matter of how to pay for a recovery fund to support the damage economies caused by coronavirus pandemic. Support Resistance 1.0789 1.0871 1.0755 1.0919 1.0673 1.1001 Pivot Point 1.0837 EUR/USD – Daily Forecast The EUR/USD has violated the symmetric triangle pattern range of 1.0900 - 1.0800, and now it trades below the 1.0850 resistance area. The EUR/USD continues to trade at 1.8115 level, holding below the strong resistance level of 1.0837. On the upside, the next resistance stays around 1.0837 and 1.0859. On the other hand, the EUR/USD has strong odds of showing a selling trend below 1.0837 level, which may lead its prices towards 1.0777 and even lower to 1.0725. Let's wait for the PMI data release for further directions. The GBP/USD currency pair flashing red and dropped to 1.2325 while representing 0.07% losses on the day, possibly due to the Tory government getting criticism about the mishandling coronavirus crisis. The latest and modest recovery in the U.S. dollar keeps the currency pair under pressure. The GBP/USD is trading at 1.2363 and consolidates in the range between the 1.2313 - 1.2369. However, the traders are keenly waiting for the key UK PMI, and U.S. Jobless Claims data. As in result, they are cautious about placing any strong bids. It should be pointed out that the members of the cabinet got the chance for the first time to criticize Prime Minister Boris Johnson and Company's poor performance about managing the coronavirus crisis in the U.K. However, the members did not only criticized for the lack of medical supplies, but they also indicated the shortage of nurses. In return, the deputized PM indicated the nearness to the peak of the outbreak. The Health Secretary Matt Hancock is suggesting the start of the human trials over 300,000 people in a year. On the positive side, the report came that the Prime Minister johnson will attend his conversation with the Queen through telephone after this week, although his deputy Dominic Raab is officially leading the country due to his absence. The United States President Donald Trump extends pushing for the economic re-start, whereas giving worse warnings to Iran. Support Resistance 1.2279 1.239 1.2221 1.2444 1.211 1.2555 Pivot Point 1.2332 A day before Friday is showing sideways trading ahead of most awaited U.S. Jobless Claims data. The bearish trend in GBP/USD continues as the pair is trading below pivot point level 1.2322, after violating the narrow trading range of 1.2500 - 1.2400. Selling bias seems strong as the Cable has not only violated sideways channel, but also holds below 50 periods EMA which is extending resistance around 1.2400. We may experience a slight bullish recovery in the market, but the resistance level of 1.2335 is likely to hold the pair in a selling mode. Today, the GBP/USD may open further room for selling until 1.2300 and 1.2150. But in case, sterling violates 1.2325 resistance level; the market will be pone to 1.2511 resistance. Good luck!

On Tuesday, the U.S. dollar surged versus a basket of major currencies as traders explored the safety of the world's most liquid currency as a fall in oil prices drained desire for risky assets. The U.S. crude oil traded into the negative zone for the first time in history on Monday, as a dramatic drop in global oil usage due to the coronavirus pandemic constitutes a supply excess and a deficiency of storage capacity. Today, the focus will remain on the UK CPI reports, let's brace for it. Economic Calendar     The Bitcoin traded with a slight bullish bias at 6,911 area after completing the Fibonacci retracement level around 6,788 level. It seems like the U.S. citizens are using a portion of their $2,000 stimulus plan in Bitcoin and other cryptocurrencies. On Monday and Tuesday, the BTC/USD price slips from the previous week's high of $7,314, to trade at $6,750. However, the BTC/USD price grew slightly on Wednesday during the Asian session. The BTC/USD is exhibiting indications of an upside revision from the $6,761 low versus the greenback. A few major obstacles are operating around the $6,955 and $7,030 trading levels. There is a major bearish trend line building with resistance at $7,030 on the hourly timeframe of the BTC/USD. With this, the BTC/USD pair could extend trading lower towards a support area of $6,550, where the buyers are likely to emerge. Support Resistance 6,798 6,968 6,700 7,040 6,530 7,210 Pivot Point 6,870 BTC/USD – Daily Forecast On Wednesday, the Bitcoin has completed 61.8% Fibonacci retracement at 6,790 level. Bitcoin seems to recover a bit as it's trading around 6,911 area after having violated the immediate resistance level of 6,870 level. At the moment, the BTC/USD pair may find support at 6,700 level as it's been extended by the upward trendline and 61.8% Fibonacci level on the 4-hour timeframe. Violation of this level can open further room for selling until 6,577 area while resistance holds around 6,920 and 7,210. Bearish bias seems dominant below the 6,920 level today. The EUR/USD currency pair looking flat and trading between the indecisive trading range around 1.0850 mainly because the agreement between the Eurozone member nations about debt mutualization still not happened ahead of the Thursday's European Union leaders' virtual-summit. The upbeat German Zew Expectations survey data failed to cheer the currency pair as the investors are still cautious due to intensifying coronavirus fears. The EUR/USD is trading at 1.0848 and consolidates in the range between the 1.0844 - 1.0864. At the data front, the German Zew Expectations survey rose from 28.2 in April from March's -49.5 figures to its highest level in five-years. Whereas the impressive wave is a result of investor confidence that the economy will start to turn around in the second half because the country slowly eases restrictions. At the same time, analysts are also worried about the high ZEW reading as the economy is still unstable, and the recovery sentiment in the European nations is not clear while there are notable debt, deflation, and political risks to be navigated. Moreover, the opponent's actions about the coronabonds and fiscal integration still on the peak from the fiscally conservative nation despite the strong calls from Spain, France, and Italy. However, Europe is still not ready to deepen fiscal integration. The lack of comprehensive economic support could suffer the shared currency in further losses. Support Resistance 1.0823 1.0887 1.0788 1.0916 1.0724 1.098 Pivot Point 1.0852 EUR/USD – Daily Forecast The EUR/USD continues to trade sideways, within a symmetric triangle pattern range of 1.0900 - 1.0800. The EUR/USD continues to trade at 1.8611, holding below the strong resistance level of 1.0885. On the upside, the next resistance stays around 1.0859 an 1.0930. On the other hand, the EUR/USD has strong odds of showing more buying above 1.0859 level, which may lead its prices towards 1.0930. Alternatively, the violation of 1.0800 level can lead EUR/USD towards the next support level of 1.0765. The downward breakout of 1.0765 can trigger a sell-off of up to 1.0725. Today, consider selling below 1.0800 and buying above this same level. During Wednesday's early Asian session, the GBP/USD failed to stop its 3-day losing streak and dropped to 1.2285 while rendering 0.07% losses on the day, mainly due to the risk-off market sentiment on the back of intensifying coronavirus fears. The broad-based U.S. dollar strength also keeps the currency pair under pressure. The GBP/USD is trading at 1.2298 and consolidates in the range between the 1.2274 - 1.2307. However, traders are cautious about placing any strong position ahead of March month inflation data. The criticism on the Tory government about handling the coronavirus crisis increasing day by day while the Health Secretary Matt Hancock said that the government is using every possible way to produce a virus vaccine. In the meantime, the United Kingdom diplomat also discussed starting the human experiments for the pandemic vaccine and renewed self-isolation guidelines. Almost 25 doctors of the U.K. were not showing satisfaction on the 7-day social-distancing rule against the World Health Organization's (WHO) 14-day period and got the same response from the Health Secretary Hancock. Whereas, the U.K.'s death toll cross 17,366, as per the latest report on Tuesday while the Reuters reported total cases rose above 129,000. At the Brexit front, the SkyNews says that the ex-deputy PM David Lidington requests for the Brexit transition period delay. However, the UK PM Boris Johnson and the company are well known for its stability on the Brexit deadline and are expected to remain stand during the time of discussions with the European Union (E.U.). With everything going on, the Sterling is trading with a mixed bias. However, bears are taking a bit more control in the market. Support Resistance 1.2223 1.2397 1.2148 1.2496 1.1974 1.2671 Pivot Point 1.2322 The bearish trend in GBP/USD continues as the pair is trading below pivot point level 1.2322, after violating the narrow trading range of 1.2500 - 1.2400. Selling bias seems strong as the Cable has not only violated sideways channel, but also holds below 50 periods EMA which is extending resistance around 1.2400. We may experience a slight bullish recovery in the market, but the resistance level of 1.2335 is likely to hold the pair in a selling mode. Today, the GBP/USD may open further room for selling until 1.2300 and 1.2150. But in case, sterling violates 1.2325 resistance level; the market will be pone to 1.2511 resistance. Good luck!

On Tuesday, the U.S. dollar resumed its mounting against currencies of U.S. oil yielders, as traders continued to be nervous following a historic fall in U.S. crude futures to beneath zero and shied away from risk even as the benchmark jumped back. Later in the day, eyes will be on the Eurozone Economic Sentiment figures, which will help drive movement in the Euro currency pair. Economic Calendar The Bitcoin traded with a bearish bias to trade at 6,861 area after having violated the immediate support level of 7,000 level. Americans are now spending part of their $2,000 stimulus plan in Bitcoin and other cryptocurrencies. The BTC/USD price slips from the previous week's high near $7,314, examining support at $6,750, although recovery is initiated, targeting $7,000. The BTC/USD price grew marginally towards the end of last week. The bullish force seemed to have been a technical breakout backed by revived enthusiasm among traders due to several factors, including the block reward halving competition coming up in May and the incentive plan that American people are receiving from the government. The stimulus plan is meant to support the residents from the traumas of the COVID-19 pandemic on the U.S. and the global market. Besides, the dramatic increase in the number of jobless claims also seems to weigh on the demand for crude oil. Support Resistance 6,999 7,130 6,936 7,196 6,806 7,327 Pivot Point 7,066 BTC/USD – Daily Forecast Bitcoin traded with a bearish bias to trade at 6,861 area after having violated the immediate support level of 7,000 level. Currently, the leading crypto pair may find support at 6,700 level as it's been extended by the upward trendline on the 4-hour timeframe. Violation of this level can open further room for selling until 6,577 area while resistance holds around 6,920 and 7,210. Bearish bias seems dominant below the 6,920 level today. Today in the early Asian session, the EUR/USD currency pair registered further losses and dropped to 1.0825 from 1.0870 level during the Asian trading hours as the broad-based US dollar continues to taking bids due to Monday's oil prices crash in the wake of coronavirus negative impact. The EUR/USD is trading at 1.0833 and consolidates in the range between the 1.0825 - 1.0872. The EUR/USD pair fell from 1.0870 to 1.0825 recently as the American dollar gained strength across the board, mainly against growth-linked Pacific currencies. The dollar index, tracking the value of the greenback against majors, rose 0.20% to levels above 100.00. Most of the traders are preferring to choose the US dollar as a safe-haven-demand due to the fears of economic damage caused by the coronavirus outbreak. On the other hand, lower oil prices may boost real incomes and support consumer spending. Markets are currently worried about their adverse effects. The US shale industry and other oil producers could be damage from it. Looking forward, as Germany's Zew Survey is scheduled to release at 09:00 GMT and will likely influence the shared currency. The data calendar across the pond is light with Existing Home Sales, which is scheduled to release at 14:00 GMT. The coronavirus related headlines could take the driver's seat. Support Resistance 1.0826 1.0907 1.0779 1.094 1.0698 1.1021 Pivot Point 1.0859 EUR/USD – Daily Forecast The EUR/USD is trading sideways, holding mostly below previously violated trendline of 1.0859. Now, the EUR/USD currency pair continues to trade at 1.8411, holding below the strong resistance level of 1.0885. On the higher side, the next resistance holds at 1.0859 an 1.0930. While below 1.0859 level, the market has strong odds of falling further until the next support level of 1.0765. The downward breakout of 1.08230 can trigger a sell-off of up to 1.0725. Today, consider selling below 1.0859. During Tuesday's Asian trading session, the GBP/USD currency pair suffered losses in Asia and could continue to lose ground in the European session mainly due to the coronavirus crisis continue to exerting bearish pressure on the British pound. The broad-based US dollar strength also keeps the currency pair lower. Although, the GBP/USD pair’s recent weakness towards revisiting a 21-day SMA level of 1.2355 recently took some strength from the pair’s decline to the 8-day low. At the press time, the GBP/USD pair is currently trading at 1.2408 and consolidates in the range between the 1.2389 - 1.2449. However, traders are cautious about placing any strong position ahead of the critical UK data. The GBP/USD currency pair could reverse its bearish bias, possibly if the surprisingly positive data comes during this day ahead. At the data front, Early Tuesday, the UK’s Office for National Statistics (ONS) will release the March month Claimant Count figures along with the Unemployment Rate in the 3-months to February at 06:00 AM GMT. The UK labor market report is expected to present the average weekly earnings, with bonuses, in the three months to February, with an increment of 3.0%. Meanwhile, the wages, excluding bonuses, are also expected to rise by 3.1% in the reported period. It's worth mentioning that the number of people seeking jobless benefits, namely the Claimant Count Change, is expected to rise by 172.5K in March against +17.3K seen last. Moreover, the ILO unemployment rate is expected to remain unchanged at 3.9% during the period. The U.K. Average Earnings, released by the Office for National Statistics (ONS), known as a key short-term indicator of how payment levels are changing in the UK economy, dropped sharply by 2.8%. Generally, the positive earnings growth forecasts consider positive (or bullish) for the British pound, whereas low figures seen as negative (or bearish) for the GBP. Support Resistance 1.2433 1.2544 1.2365 1.2586 1.2254 1.2697 Pivot Point 1.2475 On Tuesday, the choppy trading in GBP/USD continues as the pair is trading within a narrow trading range of 1.2500 - 1.2400. Selling bias seems strong as the pair is striving to violate this choppy range on the lower side. With this, the GBP/USD may open further room for selling until 1.2300 and 1.2150. The GBP/USD will determine the next movement upon the breakout of this sideways channel, which is supporting Sterling at 1.2400 area along with resistance around 1.2525. The bearish bias remains strong today. Good luck!

On Monday, the eyes will remain on the German PPI, current account, and Trade balance figures. But these are low impact economic events and may not be able to drive sharp price action today. The U.S. President Donald Trump showed some willingness for another relief package while also pushing for an economic reopen plan. Economic Calendar During the weekend, the BTC/USD price traded sharply bullish to crossover the next resistance level of $7,200, soaring towards the next resistance level of $7,293 to briefly escape the resistance cluster the price has been trapped within since April 6. The traders are currently focusing focused on pushing the price over the $7,258 resistance to aim for the next resistance level of $8,000. On the way, the Bitcoin may find next resistance, and the strongest one, if I must say, $7,400 is the next significant level. The Bitcoin prices are crossing over the resistance level of 7,140, which opens up a room for further buying until 7,430 resistance levels. In any case, the BTC/USD price is stable above $7,000, but a violation of this level could cause a drop until $6,500, the support level from the last week. Support Resistance 6,999 7,130 6,936 7,196 6,806 7,327 Pivot Point 7,066 BTC/USD – Daily Forecast On Monday, the Bitcoin prices are crossing over the resistance level of 7,140, which opens up a room for further buying until 7,430 resistance levels. For now, the support may be seen around 7,020 level if 7,140 level gets violated. Recently, the Bitcoin is forming neutral candles such as doji and spinning top, which is suggesting indecision among traders. Hence, buying can be seen at over 7,140 level today. The EUR/USD currency pair flashing red and dropped to 1.0857, having faced rejection at a crucial resistance on Friday. However, the currency pair representing 0.20% losses on the day, mainly due to the risk-off market sentiment, which tends to weaken the shared currency and provides support to the U.S. dollar. The EUR/USD is trading at 1.0855 now and consolidates in the range between the 1.0857 - 1.0878. By the way, the trendline resistance is located at 1.0897, which is also housing the 10-day average. As per the latest forecasted report, the EUR/USD currency pair could be dropped to 1.06 level from the 1.08 level, mainly due to the on-going concerns of Eurozone growth in the wake of intensifying coronavirus fears. The increase in debt rates also weakens the shared currency. Meanwhile, investors can understand the worse outlook of the whole world and would continue to put bids in the U.S. dollar. So, the future efforts of the U.S. dollar turned out to be one of the key factors behind why the euro could test its three year low of 1.0636 versus the U.S. dollar. The coronavirus outbreak has brought to the fore the deep divides among the member states on fiscal spending. Italy and Spain have blamed northern nations led by Germany and the Netherlands - of not doing enough. Support Resistance 1.0826 1.0907 1.0779 1.094 1.0698 1.1021 Pivot Point 1.0859 EUR/USD – Daily Forecast On Monday, the EUR/USD has broken the upward trendline at 1.0885. Now, the EUR/USD currency pair continues to trade below this level 1.0885 level, which is working as strong resistance for the EUR/USD. On the higher side, the next resistance holds at 1.0859 an 1.0930. While below 1.0859 level, the market has strong odds of falling further until the next support level of 1.0765. The downward breakout of 1.08230 can trigger a sell-off of up to 1.0725. Today, consider selling below 1.0859. Today in the early Asian trading hours, the GBP/USD currency pair failed to continue its Friday's gains and dropped to a fresh low of 1.2455, representing 0.30% losses on the day mainly due to broad-based U.S. dollar strength in the wake of risk-off market sentiment. As well as, the fresh rise in the U.K. death toll and lockdown fears from coronavirus also undermine the British Pound. The GBP/USD currency pair is currently trading at 1.2458 and consolidates in the range between the 1.2455 - 1.2504. At the USD front, the U.S. dollar continues to take bids mainly due to its safe-haven demand in the wake of intensified coronavirus fears. As per the latest report that the United States death toll rose above 40,000, whereas SkyNews mentions the U.K. has a bit over 16,000 people who died from the virus. On the other hand, the report came that the United Kingdom PM Boris Johnson is still cautious about lifting lockdown because the latest headlines from the Financial Times (F.T.) suggest above 21,000 Uk business companies collapsed during March than the same month a year ago, while the first proof of the damage by coronavirus is taking on companies. Support Resistance 1.2433 1.2544 1.2365 1.2586 1.2254 1.2697 Pivot Point 1.2475 The GBP/USD is exhibiting selling bias on Monday, as the upward channel has already been violated. The channel supported the pair at 1.24785, and this opens up further room for selling in the GBP/USD, which may lead its prices towards the next support level of 1.2300 and 1.2150. On Monday, the GBP/USD will determine the next movement upon the breakout of this sideways channel, which is supporting Sterling at 1.2420 area along with resistance around 1.2525. The bearish bias remains strong today. Good luck!

The U.S. dollar continues to lose its buying momentum across the board, as the U.S. stocks futures and the Asian equities are flashing green as the renewed hopes for coronavirus treatment. The U.S. dollar slipped on Friday following a news report showing a sign of success in a COVID-19 treatment medication trial, while fresh proposals to reopen the U.S. economy prompted fresh optimism and risk appetite. Economic Calendar Following a narrow trading session for the previous few days between $6800 – $7000, it initially began with a sharp drop below the critical $6600 support. Whereas the daily low was around $6472, which is the next-mentioned support level we had stated here yesterday. However, it was only a quick glitch below the $6600 because, for the following hours, we saw Bitcoin trading safely above the fundamental level. Nevertheless, it has shifted increasingly challenging to maintain gains towards $7,000. For this purpose, another improvement on Thursday pushed Bitcoin beneath various support levels of $6,800 and $6,600. Currently, the BTC/USD trades slightly over $7,000. Following the breach of the $7,000 trading level, along with the descending trendline, as can be observed on the subsequent 4-hour chart, BTC/USD is likely to face resistance around $7150 – $7200 at first. Besides, the next resistance can prevail around a 10-day peak at around $7400 – $7500. The latter is the highest-level Bitcoin price had witnessed considering the COVID-19. Support Resistance 6,676 7,376 6,238 7,638 5,977 8,076 Pivot Point 6,938 BTC/USD – Daily Forecast A day before, the BTC/USD prices slipped below 6,510 support area but failed to give us closing under this level. Consequently, the BTC/USD prices soared sharply to trade around 7,050 level, holding right below an immediate resistance level of 7,140 level. Closing of candles below 7,140 level can drive selling bias in Bitcoin; elsewhere, we may see bullish trend continued until the next resistance level of 7,430. On the lower side, supports stay around 6,550. Today in the early Asian session, the EUR/USD currency pair stops its previous day losses. The pair found fresh bids near 1.0850 one hour ago, having hit the high of 1.0880, mainly due to fresh broad-based weakness in the greenback. Most of the weakness came in the wake of risk-on market sentiment, while the risk-on tone triggered by the headline from STAT news that Gilead Sciences' experimental drug redeliver is seeing fast recoveries in fever and respiratory symptoms associated with the coronavirus. Currently, the EUR/USD currency pair is currently trading at 1.0873 and consolidates in the range between the 1.0835 - 1.0880. At the USD front, the U.S. dollar continues to lose its buying momentum across the board, as the U.S. stocks futures and the Asian equities are flashing green as the renewed hopes for coronavirus treatment. On the other hand, the United States President Donald Trump's step to reopening the economy could add some bullish pressure around the equities. While China reported a bigger-than-expected 6.8% decrease in the gross domestic product for the first quarter during the Asian trading hours. Support Resistance 1.0851      1.0973 1.0792      1.1037 1.067        1.116 Pivot Point 1.0915 Pivot Point 1.0859 EUR/USD – Daily Forecast The EUR/USD has violated the upward trendline at 1.0885, and now it continues to trade below this level, which is working as strong support for the EUR/USD. On the higher side, immediate resistance lingers nearby 1.0859 an 1.0930. While below 1.0859 level, the market has strong odds of falling further until the next support level of 1.0765. Breakout of 1.0859 resistance can drive the EUR/USD prices higher until 1.0930; alternatively, the downward breakout of 1.08230 can trigger a sell-off up to 1.0725. Today, consider selling below 1.08500. During the Friday's Asian trading hour, the GBP/USD currency pair stop its 2-day declining streak and rose above 1.2500 level, representing 0.30% gain on the day mainly due to the broad-based U.S. dollar weakness. The dollar weakened in the wale of risk-on market sentiment. Whereas, the reason behind the risk-on market sentiment is the headline from STAT news that Gilead Sciences' experimental drug redeliver is seeing fast recoveries in fever and respiratory symptoms associated with the coronavirus. Currently, the GBP/USD is trading at 1.2479 and consolidates in the range between the 1.2450 - 1.2522. At the USD front, the U.S. dollar continues to lose its selling momentum across the board, as the U.S. stocks futures and the Asian equities are flashing green mainly after the renewed hopes for coronavirus treatment. Despite the high death toll in the U.S., United States President Donald Trump's decision to reopening the economy could also be the reason behind the risk-on market sentiment. At the U.K. front, the United Kingdom's economy decided to extend its lockdown for at least three weeks while the death toll rose to 13000. Lastly, the deputized leader Dominic Raab also declared that it could no longer be "business as usual" with China, as the superpower had "questions to answer" over its handling of the coronavirus pandemic. With this, the Sterling may face resistance to surge higher. Support Resistance 1.244        1.2612 1.2353      1.2697 1.2181       1.2869 Pivot Point 1.2525 The GBP/USD is exhibiting choppy sessions despite the violation of upward channel, and now the Sterling is trading within a narrow trading range of 1.2520 - 1.2440. On the 4 hour timeframe, the cable is retesting the support level of 1.2435 and has also entered into the oversold zone as you can see, the RSI value is dropping below 50. Today on Friday, the GBP/USD will determine the next movement upon the breakout of this sideways channel. The immediate resistance holds around 1.2525, and above this, the next resistance will hold around 1.2658. Whereas, a bearish breakout of 1.2425 can lead the GBP/USD prices until 1.2345 and 1.2200. Good luck!

The U.S. .dollar is gaining bullish momentum in the wake of mixed retail sales data; however, on Thursday, the greenback could lose its bids during the U.S. trading hours if President Trump surprises markets by announces guidelines for an early restoring of the economy at a news conference on Thursday. While Trump said that we had passed the peak on new cases, and it's fascinating. Let's look at today's analysis. Economic Calendar The BTC/USD has spent the week striving to profit from the fall it confronted during the previous week amid a drop from $7,441. The digital asset took a breather over $6,500 and even improved topping levels past $6,900. Nevertheless, it has shifted increasingly challenging to maintain gains towards $7,000. For this purpose, another lower improvement on Wednesday pushed Bitcoin beneath various support levels of $6,800 and $6,600. The bearish bias spread below $6,500 before obtaining cover at the 38.2% Fibonacci retracement mark taken within the last swing high at $10,567 to a swing low $3,854. A slight bounce from this mark catapulted BTC/USD over $6,600. However, the next short term, hurdle at $6,700, is still attaining in the way. Support Resistance 6,644 6,881 6,552 7,027 6,315 7,264 Pivot Point 6,790 BTC/USD – Daily Forecast On Thursday, the BTC/USD price is holding around 6,643 area, bouncing off above the previously suggested support level of 6,577. This support level is extended by the double bottom area on the 4-hour timeframe. Above this, the Bitcoin has shown slight bullish correction until the next resistance level of 7000. Today violation of 7,000 levels can extend buying until the next resistance level of 7,400. But in case of a bearish breakout, we may see BTC/USD prices dropping until 6,154 area. Today in the early Asian session, the EUR/USD currency pair extends its previous declines streak and dropped below the 200-hours average at 1.0895, representing 0.25% losses on the day mainly due to the broad-based U.S. dollar continue to taking bids as a global reserve currency in the wake of risk-off market sentiment. The EUR/USD currency pair is currently trading at 1.0875 and consolidates in the range between the 1.0865 - 1.0913. However, traders are cautious about placing any big position ahead of Eurozone's Industrial Production data. As we already mentioned that the market sentiment seems heavy as the market remains focused on possibilities of global economic slowdown due to coronavirus pandemic. Whereas, the S&P 500 futures representing the 0.50% decline as well as the Asian stocks have come under pressure. For example, Japan's Nikkei index is flashing a 1.6% drop at press time. At the USD front, the greenback continues to getting support as a safe-haven asset. Although, the deadly virus recession fears are forcing investors to save cash, preferably in the form of the greenback. On Thursday, the greenback could lose its bids during the U.S. trading hours if President Trump surprises markets by announces guidelines for an early restoring of the economy at a news conference on Thursday. While Trump said that we had passed the peak on new cases, and it's fascinating. Support Resistance 1.0851 1.0973 1.0792 1.1037 1.067 1.116 Pivot Point 1.0915 EUR/USD – Daily Forecast On Thursday, the EUR/USD continues to trade above the upward trendline 1.0885 after violating the symmetric triangle pattern, which can be seen in the 4 hours timeframe. On the higher side, immediate resistance lingers nearby 1.0960 an 1.1030. While an upward breakout of 1.1030 resistance can drive the EUR/USD prices higher until 1.1135, alternatively, the downward breakout of 1.08275 can trigger a sell-off up to 1.0725. Today, consider buying above 1.08500 and selling below the same. Today in the Asian session, the GBP/USD currency pair failed to stop its previous day declining streak and dropped to 1.2480, representing 0.32% declines on the day mainly due to the broad-based U.S. dollar strength in the wake of intensifying fears of global recession from the coronavirus crisis. The GBP/USD currency pair is currently trading at 1.2470 and consolidates in the range between the 1.2461 - 1.2530. However, U.S. Jobless Claims and British review of social distancing data will join the virus updates for fresh direction. At the coronavirus front, the U.K.'s death losses have recently decreased by 761 against 778 the previous day. On the other hand, the highest single-day rise in the United States death toll keeps the risk-off sentiment in the market. In the meantime, U.S. President Donald Trump and the U.K.'s Chief medical officer Chris Whitty still confident about the nearness to the peak of the deadly virus. Apart from virus headlines, the Brexit negotiators from both sides EU-UK have agreed to continue talks after the break due to the coronavirus. They decided that the next round will be started from next week, with further talks scheduled for the weeks of May 11 and June 1. As in result, the market's risk-tone remains heavy with shares in Asia and the U.S. stocks registering losses on the day. Support Resistance 1.244 1.2612 1.2353 1.2697 1.2181 1.2869 Pivot Point 1.2525 The GBP/USD is exhibiting choppy sessions over the triple top resistance to become a support level of 1.2435. On the 4 hour timeframe, the cable is retesting the support level of 1.2435 and has also entered into the oversold zone as you can see, the RSI value is dropping below 50. Today, the GBP/USD has solid chances of showing a bullish trend over 1.2445 level until the resistance areas of 1.2525, and above this, the next resistance will hold around 1.2658. Whereas, a bearish breakout of 1.2445 can lead the GBP/USD prices until 1.2345 and 1.2200. Good luck!

The greenback crawled lower, but gains in riskier currencies were capped as traders worried about company earnings and braced for Chinese trade data likely to show the full impact of the coronavirus health crisis on economic activity. Later today, eyes will remain on the U.S. retail sales and Canadian monetary policy decisions, which are expected to drive market movement during the U.S. session.   Economic Calendar The International Monetary Fund (IMF) has issued a stark forecast that the worldwide economic slowdown triggered by 'the great lockdown' will get much worse before it gets better. The BTC/USD prices shifted distinctly to trade at 6,575 area, which marks as a double bottom on the 4-hour timeframe. Above this, the Bitcoin may show slight bullish correction until 6,850, but a violation of the descending triangle pattern along with bearish engulfing candle on the 4-hour timeframe is supporting bearish bias among traders. Today, chances of a bearish breakout remain strong; therefore, the bearish breakout of 6,577 level can extend selling until 6,170. BTC/USD is fighting to break above the next resistance level of $7,000 and $7,250 versus the U.S. Dollar. The bulls are gradually taking control, and they are anticipated to target $7,000. The Bitcoin failed to break the significant support level of around $6,550 on the hourly chart of the BTC/USD pair. The pair could improve distinctly towards the $7,100 support or $6,800. Support Resistance 6,761 6,962.9 6,666 7,070 6,466 7,271 Pivot Point 6,868 BTC/USD – Daily Forecast The BTC/USD prices soared to trade at 6,905 area, after falling to 6,577, the double bottom area on the 4-hour timeframe. Above this, the Bitcoin has shown slight bullish correction until the next resistance level of 7000. Today violation of 7,000 levels can extend buying until the next resistance level of 7,400. But in case of a bearish breakout, we may see BTC/USD prices dropping until 6,154 area. The trading bias remains neutral today.   Today in the early Asian session, the EUR/USD currency pair erases some previous day gains but still trading well above the 50-day moving average at 1.0970, mainly due to continued optimism about receding coronavirus cases, especially in Europe. The better-than-expected China trade data supported the market risk-sentiment and provided support to the risk assets. The EUR/USD is trading at 1.0976 and consolidates in the range between the 1.0973 - 1.0991. By the way, the currency pair representing a moderate decline on the day, having hit a high of 1.0991 late Tuesday (UTC). That trading level was previously seen on April 1. While the pair has dropped from two-week highs, but it is still trading well above the 50-day average at 1.0964. Moving on, the currency pair may find further bids in European trading hours because the overall market sentiment has turned slightly risk-on this week mainly due to the ongoing improvement in the coronavirus-related numbers, especially in Europe, and better-than-expected China trade data released Tuesday. Moreover, the talks about the expected extending of lockdown restriction in the wake of coronavirus are gaining attention in badly damaged countries and adding to the bid tone around the risk assets. Wheres, the U.S. stocks recovered on Tuesday, pushing the S&P 500 index higher by almost 3%, while the safe-haven U.S. dollar faced losses, as indicated by the dollar index's 0.63% drop. The dollar index is trading sidelined near 98.90. Support Resistance 1.0936 1.1012 1.0887 1.104 1.0811 1.1116 Pivot Point 1.0964 EUR/USD – Daily Forecast The EUR/USD violated the symmetric triangle pattern, and closing of candles outside, especially on the higher side of EUR/USD, may drive bullish bias in the EUR/USD currency pair. On the higher side, immediate resistance stays around 1.0960 an 1.1030. While a bullish breakout of 1.1030 resistance can lead the EUR/USD prices further higher towards 1.1135, conversely, a bearish breakout of 1.0918 can initiate a sell-off until 1.088. Today, consider buying above 1.0953 until the next resistance of 1.1039. During the early Asian trading hours, the GBP/USD currency failed to continue its 2-day winning streak and dropped from 5-weeks high to 1.2603, representing 0.16% losses on the day as the U.S. dollar is trying to erase its previous day declines due to the hopes of the early restart of some U.S. states. The GBP/USD is trading at 1.2605 and consolidates in the range between the 1.2602 - 1.2631. However, the traders are cautious about placing any significant move ahead of the Brexit negotiations between the European Union (E.U.) and the U.K. diplomats. The United States President Donald Trump renewed expectations that some of the U.S. states may be open for business by May 01. The Republican leader also indicates the stocks to recover and surge to the previous record highs. It's worth mentioning that the Republican leader also stopped the U.S. funding of the World Health Organization (WHO) while blaming the institute about supporting China on the wrong grounds. At the coronavirus front, there were 93,873 virus cases in the U.K., with the death losses increasing by 778. The New York Times cited officials from the Office of National Statistics to expect the figures to be 10% higher. At the U.S. front, the report cited 25,700 deaths out of more than 600,000 known cases. Support Resistance 1.255 1.2674 1.2475 1.2723 1.2352 1.2846 Pivot Point 1.2599 A day before, the GBP/USD showed bullish bias as it is price surged to trade at 1.2598 area. On the 4 hour timeframe, the cable has entered the overbought zone, and at the same time, the pair has formed a bearish engulfing candle followed by a doji candle which suggests odds of selling bais in the GBP/USD currency pair. Conversely, the pair may find support around 1.2475 area today until the release of U.S. Retail Sales figures, which are due to come out during the U.S. session. The 50 periods EMA is still supporting the bullish bias in the Sterling pair. Therefore, the support level of 1.2476 and 1.2400 may trigger a bullish bounce off in the market. So let's look for bullish positions above 1.2475 and bearish positions below 1.2599. Good luck!

  On Tuesday, the greenback crawled lower, but gains in riskier currencies were capped as traders worried about company earnings and braced for Chinese trade data likely to show the full impact of the coronavirus health crisis on economic activity. Later today, eyes will remain on the G7 meeting, which is expected to drive market movement during the U.S. session... Economic Calendar The BTC/USD prices slipped sharply to trade at 6,575 area, which marks as a double bottom on the 4-hour timeframe. Above this, the Bitcoin may show slight bullish correction until 6,850, but a violation of the descending triangle pattern along with bearish engulfing candle on the 4-hour timeframe is supporting bearish bias among traders. Today, chances of a bearish breakout remain strong; therefore, the bearish breakout of 6,577 level can extend selling until 6,170. BTC/USD is fighting to break above the next resistance level of $7,000 and $7,250 versus the U.S. Dollar. The bulls are gradually taking control, and they are anticipated to target $7,000. The Bitcoin failed to break the significant support level of around $6,550 on the hourly chart of the BTC/USD pair. The pair could improve distinctly towards the $7,100 support or $6,800. Support Resistance 6,672 6,944 6,510 7,054 6,238 7,326 Pivot Point 6,782 BTC/USD – Daily Forecast The BTC/USD is recovering after testing the support level of the 6,575 area, which marked as a double bottom on the 4-hour timeframe. Above this, the Bitcoin may show bullish correction until 7,050, but a violation of the descending triangle pattern. On the 4-hour timeframe, Bitcoin may find resistance around 7,140 and 7,400. Bitcoin has a wide trading range of 7,120 - 6,720, and violation of this level may extend the bullish trend until the next resistance level of 7,400. While bearish breakout of this level can extend selling until 6,150. The RSI and Stochastics are heading towards 50, and bullish crossover of 50 may drive buying in the Bitcoin. Today in the early Asian session, the EUR/USD currency pair continues to struggle to reach above Friday's bullish level while faced rejection near the 1.0950 mainly due to the recent losses in the S&P 500 futures, which eventually bolstered greenback demand. Currently, the EUR/USD is currently trading at 1.0937 and consolidates in the range between the 1.0925 - 1.0947. The EUR currency failed to take fresh bids due to recent declines in the U.S. stocks. The stock futures dropped by almost 2% in early Asia mainly due to the WTI crude oil prices, which dropped despite the decision by the OPEC+, a group of 24 nations led by Saudi Arabia and Russia, to cut the oil output by 9.7 million barrels per day. Whereas, the reason behind the fresh declines in the U.S. stocks is also the on-going surge in the number of coronavirus cases in China. The EUR/USD pair will trade according to the movement in the oil markets and the S&P 50 futures on the day. Looking forward, the European data docket seems empty, which is why the trading volumes might be light, and random moves may be seen in the foreign exchange markets. Support Resistance 1.0877 1.0953 1.0847 1.0998 1.0772 1.1073 Pivot Point 1.0923 EUR/USD – Daily Forecast During the last week, the EUR/USD violated the symmetric triangle pattern, and closing of candles outside, especially on the higher side of EUR/USD may drive bullish bias in the EUR/USD currency pair. On the higher side, immediate resistance stays around 1.0960 an 1.1030. While a bullish breakout of 1.1030 resistance can lead the EUR/USD prices further higher towards 1.1135, conversely, a bearish breakout of 1.0918 can initiate a sell-off until 1.088. Today, consider buying above 1.0953 until the next resistance of 1.1039. The GBP/USD is struggling to continue its 4-day winning streak and violates a 2-days-old trading range to trade over 1.2505 resistance, mainly due to intensifying concerns of a sharp economic recession. Currently, the GBP/USD is trading at 1.2558 and consolidates outside the previously maintained range of 1.2453 - 1.2478. At the UK GDP front, Britain's gross domestic product (GDP) may drop by up to 30% in April to June period, mainly due to the on-going coronavirus outbreak, as per the Finance Minister Rishi Sunak. Furthermore, he added that ten ministers were demanding for the relaxation of lockdown restrictions, starting from May. A statement came from the minister that it will be good to extend the lockdown for another 3-weeks to protect many lives and then we can start to ease it. The requests are rising from all over the world about the end of lockdown as the strong lockdown concerns indicating the economic depression, which would more worsen than the one seen in 1930. On the other hand, if the coronavirus cases continue to increase, then the governments would have no choice but to keep lockdown going. These fears may keep the demand for the U.S. dollar high in the near future. At the coronavirus front, U.K. has recorded 9,875 deaths from the coronavirus pandemic so far and marked as a 5th-highest national number in the world. Prime Minister Johnson's office said he still needs some time to recover from the coronavirus infection, but still, the news of his checking out of the hospital is positive for the economy, and it is driving bullish bias for the GBP/USD pair. Support Resistance 1.2472 1.2541 1.2435 1.2574 1.2365 1.2644 Pivot Point 1.2504 The GBP/USD exhibited a bullish bias yesterday as it is price surged to trade at 1.2558 area. On the 4 hour timeframe, the cable has violated the triple top pattern, which was extending substantial resistance at 1.2488. At the moment, the same level of 1.2480 is likely to work as a resistance. A bullish breakout of 1.2480 level can lead to GBP/USD prices towards the next resistance level of 1.2617. The RSI and Stochastics are suggesting bullish bias, and we may see a continuation of a bullish trend in GBP/USD. Thus, above 1.2508 level, we can see GBP/USD prices going after 1.2617 and 1.2735 level today while the support continues to stay around the pivot point level of 1.2504. Good luck!

On Friday, the greenback started to trade on a tenuous footing and mostly showing a weekly loss in the wake of the massive new lending program from the U.S. Federal Reserves to deal with the COVID 19, which is hurting the business and economic growth drastically. On Friday, the eyes will remain on the U.S. CPI reports, which may help drive some price action during the U.S. session, elsewhere, the European sessions are likely to offer choppy trading sessions. Economic Calendar A day before, the BTC/USD fell to trade above $7000 psychological level as it was dispensing a few bearish signs beneath the $7,400 resistance zone versus the U.S. Dollar. The BTC/USD is currently failing, and it could prolong its inclination towards $7,100 or $6,800. The BTC/USD is fighting to break above the next resistance level of $7,400 and $7,500 versus the U.S. Dollar. The bears are gradually taking control, and they are anticipated to target $7,000. There was a breach beneath a significant bullish trend line with support around $7,300 on the hourly chart of the BTC/USD pair. The BTC/USD pair could improve distinctly towards the $7,100 support or $6,800. Roughly 4-weeks ago, the global equities markets were in trouble as traders eventually recognized that the coronavirus was not just an illness limited to China, but rather a worldwide pandemic which could lastingly damage markets over the globe. Support Resistance 7,177 7,405 7,039 7,495 6,810 7,723 Pivot Point 7266.77 BTC/USD – Daily Forecast Technically, the BTC/USD pair is trading with a bearish bias as the pair has already violated bullish channel which was supporting its prices around 7,200 and double bottom level, which supported around 7,100. Closing of bearish engulfing candle below this level has driven sharp selling in Bitcoin until 6,995. Still, the bearish engulfing suggests bulls are dominated and may trigger more selling until 6,800 and 6,665 support levels. Let's consider staying bearish below $7,050 today as BTC/USD can drop further until previously suggested 6,800 and 6,665 levels. Today in the early Asian session, the EUR/USD currency recently got a fresh boost and rose to a weekly high above 1.0951, mainly due to the broad-based U.S. Dollar weakness. The modest recovery in the risk sentiment is also supporting the shared currency. Currently, the EUR/USD is trading at 1.0936 and consolidates in the range between the 1.0919 - 1.0944. However, the EUR buyers got support from the Eurogroup passed half a trillion euros virus rescue package. Moreover, the shared currency pair got a boost during the previous session. They reached a new 5-days high mainly due to greenback broadly dropped after the U.S. Federal Reserve's (Fed) additional stimulus announcement to control the economic recession of the coronavirus outbreak. At the coronavirus front, the infected people by virus rose more than 1.5 million in all over the world, including over 450K Americans. The reason behind the sharp declines in the greenback is also the U.S. Initial Jobless Claims figures came out, which showed that the weekly new claims exceeded 6 million for the second straight time last week. As in result, the U.S. dollar index slipped 0.06% to 99.46, having placed an intraday high of 99.63 in early Asia, which is weighing on the EUR/USD currency pair. Today, U.S. inflation reports will be in focus during the U.S. session. Support Resistance 1.0862 1.0973 1.0796 1.1018 1.0685 1.1129 Pivot Point 1.0907 EUR/USD – Daily Forecast The EUR/USD has violated the symmetric triangle pattern, which caused a bullish breakout of the sideways trading range of 1.0853 - 1.0887. Breakout of this pattern is likely to drive further bullish trends until 1.0960 an 1.1030. Conversely, a bearish breakout of 1.0918 can trigger a sell-off until 1.0885, and above this, we can expect EUR/USD to bounce off. The bullish bias remains strong today. The GBP/USD currency pair registered modest gains and hit the high of 1.2475 as the markets are inactive on the day due to a Good Friday holiday. Meantime, the currency pair got support from the positive now about UK PM Johnson's exit from the Intensive Care Unit (ICU). While the broad-based USD weakness also boosted the currency pair earlier. As of writing, the GBP/USD currency pair is currently trading at 1.2463 and consolidates in the range between the 1.2446 - 1.2475. However, the traders are awaiting the U.S. Consumer Price Index (CPI) figures. As we already mentioned, the UK PM Boris Johnson was discharged from the ICU but stayed in the hospital. As per the latest report, the UK PM has been moved this evening from intensive care back to the ward, where he will get close checking and care to recover fast. At the coronavirus virus front, the total U.K. hospital deaths from COVID-19 rose by 881 to 7,978 as of 1600 GMT on April 8, as per the government. The reason behind the strong declines in the greenback is also the U.S. Initial Jobless Claims figures came out, which showed that the weekly new claims exceeded 6 million for the second straight time last week. As in result, the U.S. dollar index slipped 0.06% to 99.46, having placed an intraday high of 99.63 in early Asia. As in result, the risk tone flashing mixed signals as the U.K. jostles with the coronavirus (COVID-19) virus. Support Resistance 1.2381 1.2504 1.231 1.2555 1.2187 1.2678 Pivot Point 1.2432 The GBP/USD has exhibited a slight bullish bias on Thursday as it's price soared to trade around 1.2468 level. On the 4 hour timeframe, the cable has formed a triple top pattern, which is likely to extend substantial resistance at 1.2488. A bullish breakout of this level can lead to GBP/USD prices towards the next resistance level of 1.2617. The RSI and Stochastics are suggesting bullish bias, and we may see a continuation of a bullish trend in GBP/USD. Thus, the bullish breakout of 1.2488 level can lead the GBP/USD prices until 1.2617 and 1.2735 level today while the support continues to stay around the pivot point level of 1.2432. Good luck!