A day before, the greenback remained firmed as confidence that the coronavirus crisis was reducing has faded, boosting traders' anxieties over the economic influence of the pandemic. The single currency euro amongst was the primary loser versus the U.S. dollar. Yesterday, the EUR/USD dropped after the greenback suffered its worst slide versus a basket of currencies in almost two weeks. Today, eyes will be on the series of high impact events from the U.K., U.S., and Canada. Economic Calendar The leading cryptocurrency BTC/USD is 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 7,221 7,430 7,113 7,531 6,904 7,740 Pivot Point 7322.09 BTC/USD – Daily Forecast The BTC/USD prices consolidate to trade over the support level 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today. At the same time, the leading cryptocurrency is also expected to face resistance around 7,440, and bullish breakout of this level can extend buying until the next resistance level of 7,615. The bullish bias remains strong as the Bitcoin has closed a bullish engulfing pattern on the 4-hour timeframe, which is likely to keep it bullish above the 7,215 support zone. The EUR/USD pair is flashing green and registered moderate gains to trade until 1.0880 ahead of the European Union minister meeting. The EUR/USD failed to extend its previous losses below key short-term SMA confluence and looking flat because traders keenly await the ECB meeting. The European Union finance ministers struggle to agree on a coronavirus economic rescue package. The EUR/USD is trading at 1.0863 and consolidates in the range between the 1.0854 - 1.0880, while the currency pair faced some moderate declines on Wednesday because Spain reported the highest daily increase in coronavirus cases deaths in four days. Moreover, the European Central Bank (ECB) said this is our responsibility to keep the rates low for an extended period while leading Germany economic forecast institutes observe the economy declining approximately 10% in the second quarter. As in result, the EUR currency could suffer in deeper losses. As the talks about coronavirus stimulus package faced failure to happen overnight, so the finance ministers of the European Union nations are scheduled to resume discussions on Thursday. It is worth mentioning that the Spanish Agriculture Minister Luis Planas said, the European Union's future is at the risky note as per Reuter's latest report. Lastly, the European Central Bank (ECB) has asked for a fiscal stimulus package worth 1.5 trillion euros. However, the European ministers have failed to deliver the stimulus so far due to a constant standoff between southern European states like Italy and fiscally conservative countries like the Netherlands. Hence, we have not seemed much price action in the EUR/USD currency pair. Support Resistance 1.0829 1.0887 1.08 1.0917 1.0742 1.0975 Pivot Point 1.0858 EUR/USD – Daily Forecast The EUR/USD has formed a symmetric triangle pattern, which is keeping the pair in consolidation mode between 1.0853 - 1.0887. Breakout of this pattern will help determine further trends in the market. On the higher side, the bullish breakout of this level can lead EUR/USD prices towards the next resistance level of 1.0930. Conversely, a bearish breakout of 1.0850 level can trigger further selling until 1.0835 and even below until 1.0820. The key pivot point is 1.0860, and the market can stay bearish below and bullish above this level today. Today in the early Asian trading hours, the GBP/USD currency pair continued its 3-day winning streak and registered mild gains on the day, representing 0.10% gains and taking round to 1.2400 ahead of the U.K.'s February month data which dumped and Fed Chair Powell's speech. The GBP/USD is trading at 1.2377 and consolidates in the range between the 1.2377 - 1.2419. However, the traders keenly await the busy economic calendar, which can offer additional catalysts to traders. Although the United Kingdom Prime Minister Boris Johnson gave positive vibes about his health and announced as stable inside the Intensive Care Unit (ICU), while the deputy leader Dominic Raab facing trouble as the coronavirus (COVID-19) intensifying outbreak pushes the policymakers to extend the lockdown. The expected extension about a three-week-old lockdown is putting British policymakers in trouble. Still, the expected shortage of ventilators ahead of the National Health Services (NHS) prediction also did the same. In the meantime, the Guardian indicates the NHS study expecting the pace in cases in around seven to 10 days. Besides, the European Central Bank (ECB) has asked for a fiscal stimulus package worth 1.5 trillion euros. However, the European ministers have failed to deliver the stimulus so far due to a continuous standoff between southern European states like Italy and fiscally conservative states like the Netherlands. Whereas, the E.U. keeps criticizing the Brexit deadline. With this, we Support Resistance 1.2315 1.2447 1.2236 1.25 1.2104 1.2632 Pivot Point 1.2368 The GBP/USD continues to consolidate above and below a pivot point level of 1.2368. The overall trading range remains limited in between 1.2515 - 1.2250, while investors await the GDP figures before entering further positions in the market. The GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090. The GBP/USD pair may trade in selling below 1.2368 and buying above the same level today. Good luck!

On Wednesday, the U.S. dollar found a footing as traders reacted to safe-havens, reclining some risk currency gains produced on concerns the coronavirus crisis in Europe and New York was reducing. The greenback extended versus most of the major's currencies besides the Japanese yen, a day after experiencing its severest decline versus a basket of forex currencies. The safe-haven surge was sparse but picked speed in early Asian trading, especially after the bullish rally in Asian stock markets lost steam and bonds, and gold prices improved. Economic Calendar The BTC/USD recovers the chances of bullish recovery to $8,000 ere May 2020 halving. The Bitcoin is following a bullish bias, with immediate to be found at $7,400 and $7,500, respectively. A day before, the BTC/USD prices slipped to test the support level around 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today. The BTC/USD bulls are indeed in power to lead a breakout not only over $7,000 but also $7,400. Improvement from the $6,000 area has taken a long time with various limits at $6,400, $6,800 and $7,000 being in the way. Nevertheless, BTC/USD is now consolidating at $7,365. Intraday metrics confirm the price having scored nearly 2% on its value on the day after having a retracement over $7,201. The primary goal for the buyers is to push for profits over $7,400. This could improve the investor's confidence in the recovery, and targeting $8,000 resistance mark. Support Resistance 7,020 7,394 6,863 7,611 6,489 7,985 Pivot Point 7,238 BTC/USD – Daily Forecast The BTC/USD prices slipped to test the support level around 7,060, but the closings of candles above this support level may drive bullish bias for the Bitcoin today. At the same time, the leading cryptocurrency is also expected to face resistance around 7,440, and bullish breakout of this level can extend buying until the next resistance level of 7,615. The bullish bias remains strong as the Bitcoin has closed a bullish engulfing pattern on the 4-hour timeframe, which is likely to keep it bullish above the 7,215 support zone. The EUR/USD pair failed to continue its previous day winning rally and dropped to 1.0859 level, representing 0.28% losses on the day mainly due to the U.S. dollar retakes the lead due to the risk-off market sentiment in the wake of intensifying coronavirus concerns. The pair recently returned from the previous day high level of 1.0926 to 1.0859. The EUR/USD pair is currently trading at 1.0859 - 1.0902. As we already mentioned that the U.S. Dollar taking bids on the day, as the S&P 500 futures slumped by 0.5%, indicating the risk-off sentiment in the global market after New York reported 731 deaths from coronavirus on Monday- the most significant daily rise. On the other hand, Spain's daily losses of coronavirus deaths also increased for the 1st-time in 5-days. The reason behind the fresh risk-off sentiment could also be the recent action in which the rating agency Standard and Poor's put the country's AAA rating on the negative, which indicates a recent decline in the fiscal metrics. Moving on, the bearish moves in the EUR/USD currency pair could take place if the European equities open on the negative note in the wake of intensifying coronavirus fears. On the flip side, the trader should be noted that the oil benchmarks are flashing green, which could be seen well for stocks; in this case, the safe-haven U.S. dollar will likely get weaker. Support Resistance 1.0827 1.0941 1.0762 1.0991 1.0647 1.1106 Pivot Point 1.0876 EUR/USD – Daily Forecast On Wednesday, the EUR/USD is trading with a bearish bias, having crossed the pivot point level of 1.0876 on the lower side. With this, the odds of bearish bias improves, and we may see EUR/USD prices heading lower towards the next support level of 1.0772. As we can see on the 4-hour chart, the pair has formed a symmetric triangle pattern, which signifies the neutral sentiment among traders, and it can exhibit a breakout on either side of the market. Hence, a bearish breakout of 1.0750 support level can extend selling until 1.0664 level, which also marks a double bottom pattern today. So let us look for selling trades below 1.0876 with a stop loss of over 1.0950 and take profits around 1.0666. During the early Asian session, the GBP/USD currency pair flashing red and did not succeed in holding its previous session gains. The pair has dropped to 1.2310 and representing 0.18% declines on the day mainly due to the renewed coronavirus concerns and UK PM Boris Johnson health issue. The fresh uptick in the U.S. dollar also keeps the pair lower, and the GBP/USD continues to trade at 1.2325. Overall, the cable consolidates in the range between the 1.2310 - 1.2353. Despite the recovery in the UK PM Boris Johnson health, the GBP seems depressed due to a rise in virus statistics and expectations of further deterioration. Deputy PM Dominic Raab said that all strategies to control the coronavirus outbreak is going according to Mr. Johnson's plans. While the Foreign Secretary looking confident about the UK PM Boris Johnson's health and said that he would recover from pandemic while describing him as a "fighter." On the other hand, the United Kingdom's death losses challenged the previous weakness and again took pace while rose to the all-time high. Despite this, CNN still shows doubts about the preparation of the data. As per the latest prediction, almost 66,000 UK deaths from COVID-19 by August, with a peak of nearly 3,000 a day, based on a steep rise in daily deaths early in the outbreak. Support Resistance 1.2269 1.2395 1.2201 1.2453 1.2075 1.2578 Pivot Point 1.2327 On Wednesday, the GBP/USD continues to consolidate to around 1.2400 level, but it manages to trade bearish, falling to 1.2450 level. The GBP/USD pivot point support stays around 1.229, and it's prices are tossing above and below this level. The GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090. Today, the GBP/USD pair may trade in selling below 1.2327 and buying above the same level today to target 40 pips on both sides. Good luck!

On Tuesday, the greenback slipped versus the yen as underlying worries over the economic shock wrought by the coronavirus pressure held many traders on edge. The Britsih Pound clawed back some recent declines versus the U.S. dollar. Still, sentiment for sterling continues to be fragile following British Prime Minister Boris Johnson was transferred to intensive care following his coronavirus signs worsened. While the Japanese yen strengthened after the Japanese Prime Minister Shinzo Abe reveals a massive fiscal incentive worth about $1 trillion to compensate for the economic influence of the pandemic. Overall, the financial markets are trading with risk-off sentiments, keeping the dollar weaker and bullion stronger. Economic Calendar The BTC/USD concluded the week higher about 15.4% at $6,775 and has begun the day with an additional 6% movement to the upside, violating the $7,000 resistance and soaring highs towards $7,300 level. Comparing the Bitcoin performance relative to its rivals, Ether (ETH) and EOS have placed massive gains of over 16% during the past 24 hours. Consequently, the BTC/USD dominance is down 1.5% at 65%. 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. Crypto exchanges were not safeguarded from the destruction that drove the S&P 500 and Dow to exhibit some of the most significant losses since the 2008 global financial crisis, and traders will revive that on March 13, Bitcoin (BTC) price sank over 50% lately. Support Resistance 6,535 6,963 6,363 7,219 5,935 7,647 Pivot Point 6,791 BTC/USD – Daily Forecast Bitcoin is on a bullish run as it seems to share a positive correlation with the yellow metal gold. It's trading bullish around 7,295 with an immediate resistance around the next resistance level of 7,635. On the lower side, bitcoin may find support around 7,118 and 6,969. Bullish bias still remains strong, and it may lead to Bitcoin prices towards the next resistance level of 7,600. Today in the early Asian session, the EUR/USD currency pair flashing green and managed to hold its gain above 1.0800 level. The currency pair recently erased its early losses and rose from 1.0785 to 1.0830 in the last hour, mainly due to the U.S. dollar is losing its bullish momentum after the uptick in the United States stocks futures. At this moment, the EUR/USD is trading at 1.0825 and consolidates in the range between the 1.0784 - 1.0830. However, the futures tied to the S&P 500 index are higher 0.5% at press time and indicating to a continuation of Monday's 7% price rally. At the data front, Germany, Eurozone's manufacturing powerhouse, will release Industrial Production data for February, which is scheduled to publish at 06:00 GMT. The output is expected to have declined by 0.9% month-on-month, having increased by 3% in the prior month. The annual numbers are expected to come in at -3.9% compared to -1.3% in January. Despite the coronavirus on-going supply chain disruption, the slowdown in Germany's manufacturing sector eased in February, as per the latest report by the IHS Markit/BME Manufacturing Purchasing Managers' Index (PMI). Support Resistance 1.0769 1.0847 1.0732 1.0889 1.0653 1.0967 Pivot Point 1.081 EUR/USD – Daily Forecast The EUR/USD is trading bullish on Tuesday, having crossed the pivot point level of 1.0810, which is opening further room for buying until 1.0910, were 50 periods EMA lingers to provide resistance. Over this level, we may see EUR/USD prices heading north towards the next resistance level of until 1.1035. Bullish crossover of 1.1035 level can open up further space for buying until 1.1191 level. The RSI and Stochastics are crossing over 50 supporting the bullish bias. Today, the pair may find immediate support around 1.0760. During the early Asian session, the GBP/USD currency pair stopped its 2-day declining streak and rose 0.36% to 1.2282, mainly due to broad-based U.S. dollar weakness in the wake of the risk-on market sentiment. The pair hit a high of 1.2295 during the Asian session. At the press time, the GBP/USD is trading at 1.2169 - 1.2295, while traders are giving little attention to the UK PM Boris Johnson's critical conditions on the Intensive Care Unit (ICU). The United States President Donald Trump is showing a willingness to declare another relief package after the House Speaker Nancy Pelosi gave hints for the same. This boosted the market's risk-tone after fears of President Trump's last week's statement that upcoming will show a significant increase in the virus. The reason behind the risk-on market trade sentiment could also be the hints of further stimulus from Japan and New Zealand. On the flip side, the U.K. Prime Minister Boris Johnson's health is not so good, and his condition is likely to worsen further time by time. The PM has already transferred the rights to control administration meetings and lead the U.K. through the decease to the Foreign Secretary Dominic Raab due to his worsening condition. Hence, the Foreign Secretary Dominic Raab will conduct the Cobra and cabinet meetings for him. Support Resistance 1.2184 1.2375 1.21 1.248 1.1909 1.267 Pivot Point 1.229 The direct currency pair GBP/USD hasn't changed a lot lately despite weakness in the U.S. dollar as traders are also concerned about the U.K. PM health amid COVID 19 positive results. The cable continues to consolidate to around 1.2400 level, but it manages to trade bearish, falling to 1.2450 level. The GBP/USD pivot point support stays around 1.229, and it's prices are tossing above and below this level. The GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The GBP/USD pair may trade in selling below 1.229 and buying above the same level today. Good luck!

The dollar surged to a more than one-week high versus key competitors, making XAU/USD more expensive for traders holding foreign currencies. There are forecasts that the greenback is unlikely to stay solid, and underlying economic stipulations are getting worse. Therefore, the investors aren't going to get sucked into the short cover on equities. On the news front, the economic calendar isn't expected to offer any market-moving event. However, the worse than expected NFP figures from Friday may continue to factor in by traders today. The dollar can stay weaker and may drive other currencies and gold higher. Economic Calendar The BTC/USD is trading bullish, adding nearly 2%, and it is gaining bullish impulse against the U.S. Dollar. The BTC/USD is expected to grow 4%-5% if it breaks over the major $7,000 resistance area. The BTC/USD is bestowing a lot of concrete bullish signs over the $6,700 support versus the U.S. Dollar. The Bitcoin is surrounding the major $7,000 resistance and breach zone. Previously, the BTC/USD showed a bullish break over crossing a bearish trendline with immediate resistance at $6,800, which can be seen on the hourly chart of the BTC/USD pair. The pair could show a dramatic bullish trend if there is a definite breach of the $7,000 resistance area. The BTC/USD is trading choppy within a narrow range of 6,853 - 6,694. Looking at the 4-hour chart, a downward breakout of 6,696 mark can direct to Bitcoin towards the next support level of 6,533. Support Resistance 6,535 6,963 6,363 7,219 5,935 7,647 Pivot Point 6,791 BTC/USD – Daily Forecast On Monday, the BTC/USD is consolidating in a choppy range of 6,853 - 6,694. Looking at the 4-hour chart, a downward breach of 6,696 mark can lead to Bitcoin towards the next support mark of 6,533. Alternatively, the bullish breakout of 6,853 opens further room for buying until 7,095 and 7,250. Leading indicators, such as RSI and Stochastic, are in a bullish zone, suggesting chances of buying in Bitcoin. During the Asian session, the EUR/USD currency pair flashing green and struggles to hold above 1.0800 level so far, mainly due to moderate recovery in the risk sentiment. The EUR/USD pair dropped to 1.07773 on Friday due to broad-based USD strength in the wake of intensifying fears of global fallout. At the moment, the EUR/USD is trading at 1.0822 and consolidates in the range between the 1.0799 - 1.0836. After the improvement in Germany's virus situation, the shared currency caught fresh bids before German Factory data released. The EUR currency lost a few pips from the 1.0835 level after the negative German Factory Orders data, but the EUR/USD did not give any significant response to the German data. In fact, the pair started to getting gains once again to trade near 1.0820 level due to risk-on market sentiment. The EUR/USD hit a daily high of 1.0835 just a few minutes before the data release. At the data front, the German Factory Orders fell in February, suggesting that the manufacturing sector in Europe's largest economy is not out of the woods yet. Support Resistance 1.0769 1.0847 1.0732 1.0889 1.0653 1.0967 Pivot Point 1.081 EUR/USD – Daily Forecast The EUR/USD has violated intraday support level of 1.0962, and closing of 4-hour candles below this level is supporting odds of more selling in the pair. On the lower side, the EUR/USD has chances of falling further until 1.0835. While the pair is currently trading up and below the daily pivot point level of 1.0810 as it looks like the market is waiting for a major economic events release to derive further trends in the market. Today in the early Asian session, the GBP/USD pair hit the long-term bearish bias for the first time in 11-months and dropped to 1.2210 level mainly due to the reports that the British Prime Minister Boris Johnson is admitted to hospital for the test of coronavirus after showing intense symptoms. The broad-based U.S. dollar strength also keeps the pair lower. As of writing, the GBP/USD is trading at 1.2230 and consolidates in the range between the 1.2210 - 1.2265. However, the GBP/USD currency pair started this fresh week on a negative note in Asia this Monday. As we know, the U.K. Prime Minister has been admitted to hospital for tests tonight, leaving traders and U.K. citizens cautious as Prime Minister Boris Johnson continues to have substantial symptoms of coronavirus since 10-days after testing positive for the virus. So, this is a major reason behind the pair's fresh declines. Besides, concerns about ventilator support for PM will likely collaborate with the GBP declines. Moreover, the greenback continues to getting support against its 6-major rivals as a safe-haven demand in the wake of intensifying coronavirus global concerns and reinforces the fears over a global economic slowdown, which also keeps the pair bearish. As per the latest report, the death toll from the coronavirus increased by 621 to 4,934. The total number of confirmed infections rose to 47,806. Apart from the coronavirus intensifying concerns, the GBP currency could remain bearish in the European trading hours mainly due to the sluggish data, which is released early Monday and showed the British consumer confidence declined to the weakest since February 2009. Let's look at the technical side of the market. Support Resistance 1.2184 1.2375 1.21 1.248 1.1909 1.267 Pivot Point 1.229 The GBP/USD consolidates around 1.2400 level, but it manages to trade bearish, falling to 1.2450 level. On Thursday, the GBP/USD's pivot point support stays around 1.2383 level, which also marks the 50% Fibonacci support level for the Sterling. At the moment, the GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The leading indicators, such as RSI and Stochastics, are holding in the overbought zone, which supports the odds of selling bias or retracement in the GBP/USD pair. The GBP/USD pair may trade in selling below 1.2360 and buying above the same level today. Good luck!

On Friday, the U.S. dollar edged toward a 2% weekly rise supported by a bullish wave in the oil price and as investors sought shelter in the wake of worsening economic fallout from the coronavirus pandemic. Later today, the greenback moves will continue to play a significant role, as attention shifts to the Euro area Final Services PMI report. At the same time, the US Non-Farm Payrolls and ISM Non-Manufacturing PMI data are scheduled to release later this Friday. The coronavirus related headline could also drag attention. Economic Calendar The BTC/USD has entirely recovered from $5,200 to $7,200 in the preceding two weeks, despite the declining desire for high-risk assets, which also covers single-stocks and cryptocurrencies. Due to a meaningful selloff in the U.S. stock exchange and the worsening Coronavirus pandemic that has since tidied beyond the U.S. and Europe, the price of BTC/USD over continued its downtrend. It declined to $3,600 on crypto exchanges. The truth that bulls quickly walked in to buy the low and drove the price from $3,600 to $5,200. The BTC/USD price is expected to rally to $8,500 over the short term. Later yesterday, the leading crypto pair BTC/USD seems to have violated the double top resistance level of 6,525, and closing of these candles over this level are suggesting chances of further buying in the Bitcoin pair. Support Resistance 6,518 7,190 6,219 7,563 5,846 7,862 Pivot Point 6,891 BTC/USD – Daily Forecast The leading crypto pair BTC/USD is trading sideways within a narrow trading range of 6,853 - 6,694. On the 4 hour timeframe, a bearish breakout of 6,696 level can lead to Bitcoin prices towards the next support level of 6,533. Conversely, the bullish breakout of 6,853 opens further room for buying until 7,095 and 7,250. Leading indicators, such as RSI and Stochastic, are in a bullish zone, suggesting chances of buying in Bitcoin. Today in the early Asian session, the EUR/USD currency pair hit the fresh six-day lows and dropped below the 108.50 level, mainly due to the broad-based greenback strength. Whereas, the U.S. dollar is continuing to getting support as a safe-haven demand and reached the highest level in 6-days in the wake of risk-off market sentiment. The downbeat US data also gave a boost to the greenback. The EUR/USD is trading at 1.0845 and consolidates in the range between the 1.0834 - 1.0863. However, the traders await the relevant US data for the fresh direction. At the USD front, the US dollar hit the highest levels in 6-days against its 6-major rivals on Thursday, as the safe-haven demand for the US dollar continues to rise due to intensifying coronavirus outbreak and its growing risks on the global economy. At the data front, the rise of 6.648 million in the US Initial Jobless Claims failed to stop the dollar rally, as the total number of virus cases globally surpassed 1 million, with over 50,000 deaths reported so far, further fueled the risk-off market sentiment. The US dollar index now trades at 100.25, having reached a multi-day high at 100.40. Support Resistance 1.0796 1.0946 1.0734 1.1032 1.0647 1.1095 Pivot Point 1.0883 EUR/USD – Daily Forecast On Friday, the major currency pair EUR/USD has violated intraday support level of 1.0962, and closing of 4-hour candles below this level is supporting odds of more selling in the pair. On the lower side, the EUR/USD has chances of falling further until 1.0835. The bearish bias remains strong today. Today in the early Asian session, the GBP/USD currency pair flashing red and dropped below the 1.2400 level, mainly due to broad-based U.S. Dollar strength. Whereas, the U.S. dollar is continuing to getting support as a safe-haven demand and reached the highest level in 6-days. The coronavirus (COVID-19) crisis also keeps the pair lower. However, the currency pair failed to get support from the good news about medium-sized UK businesses. At the press time, the GBP/USD is trading at 1.2382 and consolidates in the range between the 1.2367 - 1.2411 while the cable traders await for busy economic docket for the next direction. At the USD front, the US dollar reached the highest levels in 6-days against its 6-major rivals on Thursday, because the safe-haven demand for the US dollar continues to rise due to intensifying coronavirus outbreak and its growing fears about a global recession. Furthermore, the UK Chancellor Rishi Sunak issued the state-backed aid packages to medium-sized companies with turnovers as high as £500 million during the early Aisa. On the other hand, Health Secretary Matt Hancock also highlighted the idea of distributing certificates to allow people who have built up immunity to the coronavirus to return to a healthy life. Looking forward, the traders will keep their eyes on the economic calendar with the final figures of the UK’s March month activity data expected to offer intermediate moves. The US NFP and ISM Non-Manufacturing PMI figures will be key to watch. Support Resistance 1.2324 1.2448 1.2258 1.2508 1.2134 1.2632 Pivot Point 1.2383 The GBP/USD consolidates around 1.2400 level, but it manages to trade bearish, falling to 1.2450 level. On Thursday, the GBP/USD's pivot point support stays around 1.2383 level, which also marks the 50% Fibonacci support level for the Sterling. At the moment, the GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The leading indicators, such as RSI and Stochastics, are holding in the overbought zone, which supports the odds of selling bias or retracement in the GBP/USD pair. The GBP/USD pair may trade in selling below 1.2360 and buying above the same level today. Good luck and have a nice weekend!

On Thursday, the U.S. dollar is getting stronger day by day due to coronavirus outbreak. The coronavirus cases are not showing any sign of slowing down, somewhat increased fears of a global economic recession. At the data front, the U.S. initial jobless claims data, which is scheduled to release at 12:30 GMT, is anticipated to report the number of people filing first-time claims for state unemployment insurance of over 4.45 million in the week ended March 27 against preceding week's figure of 3.283 million as per the forecasted report. Economic Calendar The BTC/USD seems to have violated the double top resistance level of 6,525, and closing of these candles over this level is suggesting chances of further buying in the Bitcoin pair. The BTC/USD price levels up to the $6,500 but lack bullish momentum to maintain profits towards the next resistance level of $7,000. Most of the technical indicators follow in support of the bulls who look forth to a growing triangle breakout to $8,000 mark. The BTC/USD price bearish action over the weekend covered the substantial support at $5,800, averting potential losses to $5,000. On Monday overcame several resistance levels, including $6,200 and $6,400. BTC/USD also stepped above the key $6,500 zone but formed an intraday high at $6,525. The largest cryptocurrency has adjusted downwards to trade at $6,442. Intriguingly, the trend remains strongly bullish, but the volatility is low due to reduced trading volume. Support Resistance 6,110 6,727 5,747 6,980 5,130 7,597 Pivot Point 6,364 On Thursday, the leading crypto pair BTC/USD seems to have violated the double top resistance level of 6,525, and closing of these candles over this level are suggesting chances of further buying in the Bitcoin pair. This opens up further room for buying until the next resistance level of 6,700 and 6,858. While the pair may find support around 6,385 and 6,150. Leading indicators, such as RSI and Stochastic, are in a bullish zone, suggesting chances of buying in Bitcoin. Today in the early Asian session, the EUR/USD currency pair continued its fourth-day declining streak and hit the fresh below the 1.0950. Greenback continues to take bids for the 4th-consecutive day as a safe haven-demand in the risk-off market sentiment. However, the EUR/USD currency pair recently lost its more than 40% gains from 1.0636 to 1.1148, seen in the five trading days to March 27. The EUR/USD pair is trading at 1.0941 and consolidates in the range between the 1.0931 - 1.0969. At the USD front, the U.S. dollar is getting stronger Day by Day, mostly due to the risk-off market sentiment over concerns about the coronavirus outbreak. The coronavirus cases are not showing any sign of slowing down, rather increased fears of a global economic recession—eventually, these fears keeping the U.S. stocks under pressure yesterday. Later today, the U.S. initial jobless claims data, which is scheduled to release at 12:30 GMT is likely to exhibit the number of people filing first-time claims for state unemployment insurance passed 4.45 million in the week ended March 27 against preceding week's figure of 3.283 million as per the forecasted report. We may see some buying in the EUR/USD pair. Support Resistance 1.0999 1.1096 1.0957 1.1149 1.086 1.1245 Pivot Point 1.1053 EUR/USD – Daily Forecast The major currency pair EUR/USD has violated intraday support level of 1.0962, and closing of 4-hour candles below this level is supporting odds of more selling in the pair. On the lower side, the EUR/USD has chances of falling further until 1.0835. The bearish bias remains strong today. During the early Asian session, the GBP/USD currency pair flashing green and trading above the 1.2400 despite the broad-based greenback strength. The GBP/USD pair trader keeps their eyes on the coronavirus headlines while traders wait for the U.S. Jobless Claims while representing moderate gains of 0.10% above 1.2400. The GBP/USD pair is trading at 1.2403 and consolidates in the range between the 1.2367 - 1.2409. At the U.K. front, the United Kingdom government continues to struggle and using all possible ways to stop the deadly outbreak because the coronavirus concerns showing no sign of slowing down with the death toll marked the most significant rise on Wednesday. As per the latest report, the total number of confirmed coronavirus infections rose to 29,474 as of morning from 25,150 on Tuesday, and the death toll increased to 2,352 from 1,789. Meanwhile, the United Kingdom Prime Minister Boris Johnson shared the home view while saying, this was a very depressive day. At the USD front, the U.S. dollar is getting stronger day by day and taking benefits as safe-haven demand mainly due to the risk-off market sentiment in the wake of intensifying concerns about coronavirus outbreak. Support Resistance 1.2324 1.2448 1.2258 1.2508 1.2134 1.2632 Pivot Point 1.2383 On Thursday, the GBP/USD consolidates around 1.2400 level, but it manages to trade bearish, falling to 1.2450 level. On Thursday, the GBP/USD's pivot point support stays around 1.2383 level, which also marks the 50% Fibonacci support level for the Sterling. At the moment, the GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4-hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The leading indicators, such as RSI and Stochastics, are holding in the overbought zone, which supports the odds of selling bias or retracement in the GBP/USD pair. The GBP/USD pair may trade in selling below 1.2360 and buying above the same level today. Good luck!

On Tuesday, widened the ability of many international central banks to locate dollars through the coronavirus crisis by empowering them to switch their holdings of U.S. Treasury securities for dollar loans. With this, the demand for U.S. dollar soars, driving the competitive securities lower. The market will be focusing on the U.S. ADP Employment Report, and the ISM Manufacturing data are also scheduled to release in this day later. Let's take a look. Economic Calendar   Economic Calendar   The BTC/USD ended the 1st quarter of 2020 in a bearish mode when compared with the start of the year. However, it's not as bad as the historical losses experienced by worldwide equities. On a 24-hour footing, BTC/USD was in exhibiting bullish momentum along with ETH/USD, which also edged higher slightly. The BTC/USD price levels up to the $6,500 but lack bullish momentum to maintain profits towards the next resistance level of $7,000. Most of the technical indicators follow in support of the bulls who look forth to a growing triangle breakout to $8,000 mark. The BTC/USD price bearish action over the weekend covered the substantial support at $5,800, averting potential losses to $5,000. On Monday overcame several resistance levels, including $6,200 and $6,400. BTC/USD also stepped above the key $6,500 zone but formed an intraday high at $6,525. The largest cryptocurrency has adjusted downwards to trade at $6,442. Intriguingly, the trend remains strongly bullish, but the volatility is low due to reduced trading volume. Support Resistance 6,174 6,747 5,801 6,946 5,228 7,519 Pivot Point 6,374 As we anticipated, the BTC/USD prices traded bearishly below a strong resistance level of 6,533. Closing of candles below this level are driving selling bias for the Bitcoin, and its prices can drop to 6,235 area. Violation of this level can lead to Bitcoin prices further lower until the next support level of 5,975. Conversely, the bullish breakout of the 6,530 level can break Bitcoin prices higher towards 6,880 level. Overall, the trend is likely to stay bearish below 6,880 level. Today in the early Asian session, the EUR/USD currency pair continues to flash red and still considered bearish despite the recovery from the lowest level of 1.0930 to 1.1039. However, the currency pair failed to continue its notable recovery mainly due to traders are preferring to buy the U.S. dollar as a safe-haven demand. The EUR/USD currency pair is currently trading at 1.1023 and consolidates in the range between the 1.1006 - 1.1039. Although, the traders are cautious about placing any bid ahead of German retail sales and manufacturing data. By the way, the currency pair representing 0.15% declines on the day. The EUR/USD currency pair faced rejection near 1.0940 during the early Asian trading session and stepped back near 1.010 level even though China's Caixin Manufacturing PMI, which concentrates on small and medium-sized export-oriented units, ignored past expectations to indicate fresh development in the activity in March. The German data, which is scheduled at 06:00 GMT, is expected to show consumer spending, as represented by retail sales, increased 1.5% year-on-year in February, after January's 1.8% growth. Whereas, the Markit Manufacturing PMI figure is forecasted to show in at 45.5, highlighting a slight decline from the preliminary estimate of 45.7. An unexpectedly weaker data may draw offers for the common currency, pushing EUR/USD pair to levels below 1.10. Support Resistance 1.1002 1.1099 1.0958 1.1151 1.0862 1.1247 Pivot Point 1.1054 EUR/USD – Daily Forecast The EUR/USD is trading at 1.1020, right above an intraday pivot point level of 1.1002. Closing of candles above this level can keep the EUR/USD prices bullish until 1.1052 and 1.1095. Conversely, the bearish breakout of the 1.1002 level can lead the EUR/USD prices towards the next support area of 1.0975 and 1.0934. Choppy sessions are expected until the release of NFP figures on Friday. The GBP/USD currency pair failed to stop its previous day declining streak and dropped below the 1.2400 level once again, mainly due to the intensifying coronavirus (COVID-19) concerns. As well as, the fears of a double-digit drop in U.S. Q2 2020 GDP also weighing on the risk sentiment, which eventually attributed to the pairs declines. At the press time, the GBP/USD is currently trading at 1.2380 and consolidate in the range between the 1.2364 - 1.2443. The United Kingdom's death toll rose sharply by 27% due to the coronavirus. The 14% increase in the cases of infected people by the virus. Meanwhile, the United Kingdom's policymakers continue to struggle in order to justify their efforts in ending the virus outbreak, although the official figures showed that confirmed coronavirus cases had increased 14% during Monday and Tuesday to 25,150 as of Tuesday at 0800 GMT. On the other hand, the coronavirus cases continue to rise in Europe, with Spain and Italy reporting a total of 200,000 cases so far. The U.K. police are facing a very stricter order to make sure that the lockdown works as planned because of the sharp rise in death toll and cases so far. The Health Secretary Tim Hancock stated that Hospitals should use additional laboratory space to quickly test NHS staff in England for coronavirus who are self-isolating. Whereas, the advice appeared when the government was facing heavy criticism about a shortage of testing for frontline staff. As we already mentioned that the concerns of a double-digit reduction in the U.S. Q2 2020 GDP weighed on the market's risk-tone during the early Asian session. Support Resistance 1.2319 1.2444 1.2256 1.2505 1.2131 1.263 Pivot Point 1.238 The GBP/USD soared to trade at 1.2400 level, but it manages to trade bearish, falling to 1.2370 level. On Monday, the GBP/USD's pivot point support stays around 1.2375 level, which also marks the 50% Fibonacci support level for the Sterling. At the moment, the GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4 hour timeframe, the Sterling a pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The leading indicators, such as RSI and Stochastics, are holding in the overbought zone, which supports the odds of selling bias or retracement in the GBP/USD pair. The GBP/USD pair may trade in selling below 1.2360 and buying above the same level today. Good luck!

On the forex front, the U.S. Dollar Index rebounded 0.7% on the day to 99.04, halting a six-day losing streak. Later today, eyes will be on the European Commission will post March CPI (+0.6% on-year expected). The German Federal Statistical Office will report the March jobless rate (5.1% expected). France's INSEE will release March CPI (+1.0% on-year expected). The U.K. Office for National Statistics will post final readings of 4Q GDP (+1.1% on-year expected). Economic Calendar The leading cryptocurrency opens lower on Tuesday to drop from 6,700 level to trade at 6,400 zones. The BTC/USD has plunged for the second time during the previous week, which has to lead its prices below $6,000 psychological level. On Tuesday, the BTC/USD crossed over $6,000 mark as traders seem to buy cheaper Bitcoin to sell it later at higher prices. Currently, the Bitcoin is trading at $6,417 has it managed to crossover a horizontal resistance level of 6,000 mark on Monday, where the violation of this level could send the Bitcoin prices towards $5,700 and $5,350. Below this, traders will look to $4,446, where the price previously created a double bottom. It looks like most of the investors disregard Bitcoin's weekend price action as trading volume reduces through this time. On Tuesday, the prices are gaining support and are likely to drive some bullish momentum in the market. Support Resistance 6,174 6,747 5,801 6,946 5,228 7,519 Pivot Point 6,374 On Tuesday, the leading cryptocurrency pair continues to trade higher to test the support become a resistance level of 6,530 area. Closing of candles below this level are likely to drive selling bias in the Bitcoin, and its prices can drop to 6,235 area. Violation of this level can lead to Bitcoin prices further lower until the next support level of 5,975. Conversely, the bullish breakout of the 6,530 level can break Bitcoin prices higher towards 6,880 level. Overall, the trend is likely to stay bearish below 6,880 level. During the early Asian session, the EUR/USD currency pair flashing red and dropped below the 1.10 level, mainly due to the greenbacks recovery trend. The EUR/USD currency pair is losing its ground for the consecutive session on the day ahead of the data. At the time of writing, the EUR/USD is trading at 1.0996 and consolidates in the range between 1.0991 - 1.1055. Earlier in the Asian session, month/quarter-end flows and some stress return around the dollar funding, which have been supporting the recovery in the buck and pushed the DXY to fresh 2-day highs near 99.60, where it runs out of steam. Eventually, it weighs on the EUR/USD currency pair. At the data front, German Import Prices declined 0.9% MoM during February and 2.0% over the last 12-months, all ahead of the release of the more relevant labor market report later in the session. European Commission will post March CPI (+0.6% on-year expected). The German Federal Statistical Office will report the March jobless rate (5.1% expected). However, the EUR/USD pair dropped from 1.1495 to 1.0636 in the 14 days to March 23 before recovering some poise with a move above 1.10. At press time, the spot is trading mostly unchanged on the month below 1.10. Support Resistance 1.1002        1.1099 1.0958 1.1151 1.0862 1.1247 Pivot Point 1.1054 EUR/USD – Daily Forecast The EUR/USD tested the forecasted support level of 1.0975, and now it's closing neutral candles above the same support level. On the 4 hour chart, the EUR/USD has formed an upward trendline, which is supporting the EUR/USD prices around 1.0975 level, and these may drive some buying until 1.1060 and 1.1145. On the other hand, a bearish breakout of 1.0965 can leads the EUR/USD prices lower towards 1.0884. The GBP/USD currency pair flashing red and dropped below the 1.2350 level, mainly due to the fresh concerns regarding Brexit deadlines. As well as, the decreasing coronavirus cases fresh report failed to give any significant support to GBP currency. While the downbeat business sentiment is weighing on the currency pair. The GBP/USD is currently trading at 1.2333 and consolidates in the range between the 1.2255 - 1.2420. As per the latest report that the surveys conducted by the market research firm GfK and Lloyds Bank, suggesting a decline in the U.K.'s consumer and business confidence. Downbeat sentiment drives the indices, but the fresh coronavirus report has also revived the struggle between the European Union and the United Kingdom regarding the December 31, 2020 deadline, after the political group of European Union pushed the U.K. to do some responsible work and extend the Brexit transition period as well. The United Kingdom Boris johnson representative stated that the Brexit transition period would end on December 31, 2020, because this is included in the United Kingdom law. The United Kingdom politicians also indicated that there are fewer chances of further lockdown measures while singling continued struggles against the coronavirus during the twelve weeks. The GBP currency took some support from the recent report of coronavirus that suggested a drop in cases from March 27 figures of 2,900 to 2,400 new facts on March 29, but the Guardian raises doubts on it. Support Resistance 1.2319 1.2444 1.2256 1.2505 1.2131 1.263 Pivot Point 1.238 The GBP/USD soared to trade at 1.2400 level, but it manages to trade bearish on Monday, falling to 1.2370 level. On Monday, the GBP/USD's pivot point support stays around 1.2375 level, which also marks the 50% Fibonacci support level for the Sterling. At the moment, the GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4 hour timeframe, the Sterling pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The leading indicators, such as RSI and Stochastics, are holding in the overbought zone, which supports the odds of selling bias or retracement in the GBP/USD pair. The GBP/USD pair may trade in selling below 1.2360 and buying above the same level today. Good luck!

The U.S. dollar closed a week with a bearish bias, and the safe-haven yen rose on Monday, as coronavirus lockdowns tightened across the world. Traders braced for an extended interval of uncertainty. The U.S. dollar soared versus its peer currencies, especially against the Sterling, Euro, Kiwi, and the Aussie. Sterling was last 0.7% softer at $1.2371; the Aussie slipped by nearly the same margin at $0.6134 while the euro was 0.5% weaker at $1.1082. Let's look at the fundamental and technical outlook of the market. Economic Calendar     The BTC/USD has plunged for the second time during the previous week, which has to lead its prices below $6,000 psychological level. Today's pullback beneath the $6,000 mark seems to be the weekly and monthly close approach, and, probably, investors could also influence concerns that traditional financial markets such as forex and stock may start to correct itself on Monday, especially during the U.S. opening bell. Currently, the Bitcoin is trading at $6,217 has it managed to crossover a horizontal resistance level of 6,000 mark during the Asian session. Beneath $5,700, $5,350 is the following area of support, and under this level, investors will look to $4,446, where the price previously created a double bottom. It looks like most of the investors disregard Bitcoin's weekend price action as trading volume reduces through this time. On Monday, the prices are gaining support and are likely to drive some bullish momentum in the market. Support Resistance 5,763 6,150 5,634 6,408 5,376 6,537 Pivot Point 6,021 The leading cryptocurrency opens lower on Monday to drop from 6,700 level to trade at 5,700. On the hourly chart, the BTC/USD has formed triple bottom support at 5,700 level. Closing of candles above this level can extend buying until 6,155. Above this, the next target is likely to be found around 6,392. The EUR/USD is flashing red and dropped to the 1.1070 from the high level of 1.1145, mainly due to the risk-off market sentiment. The U.S. equity index fell as the United States President Donald Trump extended lockdowns, travel restrictions, and social distancing till April to control the intensifying spread of coronavirus. At the moment, the EUR/USD pair is trading at 1.1076 and consolidates in the range between the 1.1069 - 1.1144. However, the decision of Trump to extends the lockdown is showing more possibilities of slowdown, which boosts the U.S. dollar and pushing the pair lower. At the USD front, the U.S. dollar is getting boost once again from the risk-off tone in the Asian stocks and the U.S. equity index futures. Despite China's rate cut, the investors are cautious about placing any position due to the worsening situation in the United States. The United States President Donald Trump's declaration to extend social distancing throughout April, which fueling the fears of a recession. The economic fallout in the West has seemed to start, and another sell-off in the stock markets could be seen soon. As in result, the U.S. treasuries (and the greenback) could continue to gets support as a safe-haven demand in the near-term. However, the bearish tone in the currency pair may further increase if there is a delay in the unified fiscal response from the European Union. Consequently, the EUR/USD pair can face bearish pressure on Monday, until the market releases any further supported event. Support Resistance 1.101 1.1205 1.0885 1.1274 1.069 1.1469 Pivot Point 1.1079 EUR/USD – Daily Forecast The EUR/USD is also trading with bearish bias after surging to the 1.1150 area. It seems to have entered the overbought zone as the pair has already completed 50% Fibo retracements on the daily timeframe at 1.1075. Above this, the next resistance can be found around 1.1165 level, which marks the 61.8% Fibo area. On Monday, the 1.1065 area is a crucial level, and it may keep the pair bullish above or bearish below this level. On the lower side, the next support can prevail around 1.0975. During the early Asian session, the GBP/USD is found on the bearish track and dropped below the 1.2400 level, mainly due to the risk-off market sentiment. Most of the selling triggered in the wake of intensifying coronavirus fear in the U.K. The fresh recovery in the U.S. dollar also keeps the pair lower. Right now, the GBP/USD is trading at 1.2395 and consolidates in the range between the 1.2361 - 1.246. While considering the Economics and Business Research (CEBR) report, the Guardian said that the United Kingdom's economic output might drop by 15% in the 2nd-quarter of the year. Furthermore, the report also indicates a rise in the death losses to 1,228 and 19,522 as positive cases, including the national leader. Earlier, the global rating agency Fitch deceased the U.K.'s credit rating from A.A. to AAA- with a negative outlook, which is adding bearish pressure on Sterling. According to a U.K. Telegraph report, access to intensive care for coronavirus patients is now limited to those reasonably certain to survive, as per the sources from the National Health Services (NHS) London Trust. The department head at Imperial College Healthcare announced on Sunday that minimal patients are being selected for ventilator treatment because so many severe cases require to stay a couple of weeks on the ventilator. Support Resistance 1.2234 1.2576 1.2019 1.2701 1.1678 1.3042 Pivot Point 1.236 The GBP/USD soared on Friday to trade at 1.2400 level, but it manages to trade bearish on Monday, falling to 1.2370 level. On Monday, the GBP/USD's pivot point support stays around 1.2375 level, which also marks the 50% Fibonacci support level for the Sterling. At the moment, the GBP/USD is holding below a strong resistance level of 1.2513 level. On the 4 hour timeframe, the Sterling pair is likely to find support at 1.2350 violation of which can open further room for selling until 1.2305 and 1.2090, which marks 38.2% Fibo level. The leading indicators, such as RSI and Stochastics, are holding in the overbought zone, which supports the odds of selling bias or retracement in the GBP/USD pair. The GBP/USD pair may trade in selling below 1.2360 and buying above the same level today. Good luck!

The fundamental side of the market remains light due to a lack of market-moving macroeconomic indicators. Eyes will stay on COVID 19 and how different nations are looking to deal with it. The coronavirus death losses in Spain officially crossed the China figures and becoming the 2nd-highest in the world. The health system is falling under the weight of the disease. However, the coronavirus outbreak is not showing any sign of slowing down in the Eurozone. Economic Calendar The BTC/USD extends trading within the same trading range of 6,850 to 6,575. We may see further trends in Bitcoin only when it breaks either on the higher side or the lower side. The COVID-19 pandemic proceeds to display with terrible consequences beyond the globe, desperate measures to keep the economy floating continue to be steered by global governments. Presently, the most striking illustration is the U.S., which lately announced an extensive quantitative easing plan and also entered an agreement for a $2 trillion stimulus program. The extensive quantitative easing means will cause the Federal Reserve to buy assets "in the quantities required to accommodate smooth market functioning. Right after the decision was made, the leading cryptocurrency Bitcoin rallied nearly 10% from $6,300 to $6,900. At the moment, the BTC/USD has sunk to $6,630, and crypto markets have remained relatively stable during the day. Support Resistance 6,507 6,962 6,228 7,139 5,772 7,594 Pivot Point 6,683 The leading crypto pair BTC/USD continues to trade within the same trading range of 6,850 to 6,575 for another day, as traders seem to pay less interest in trading in the wake of the increased number of cases around the globe. On the lower side, violation of the 6,530 support level can extend selling until 6,395, and even below this, the next support is likely to be found around 6,175. Whereas, the bullish breakout of 6,815 level can drive more buying until 7,260. The EUR/USD currency pair continued its recovery rally and hit above the 200-day Moving Average hurdle at 1.1082 because the U.S. Dollar continues to get weak in the wake of negative U.S. labor market official data released Thursday, which showed the initial jobless claims topped to 3.2 million last week, against the forecasted figures for 1.5 million by a big margin. The uptick in the global equity market also contributed to the greenback weakness. As of writing, the EUR/USD currency pair is currently trading at 1.1059 and consolidates in the range between the 1.1023 - 1.1087 At the USD front, the greenback is continuing its previous bearish bias with the dollar index, which tracks its value against majors, currently trading at lows below 99.00, representing a 0.60% decline on the day, having dropped 1.47% and 0.82% on Thursday and Wednesday, respectively. The greenback continued selling bias could be depressed U.S. labor market official data released Thursday, which showed the initial jobless claims topped 3.2 million last week, beating the forecast for 1.5 million by a big margin. Support Resistance 1.1051 1.1073 1.1044 1.1087 1.1022 1.1108 Pivot Point 1.1065 EUR/USD – Daily Forecast The EUR/USD pair has made some nice bullish recovery overnight, as the total number of cases in the U.S. has crossed over the number of cases in China. Traders are in a panic and have started selling the U.S. dollar, which is driving the bullish trend in the EUR/USD currency pair. We may see EUR/USD heading towards the next resistance level of 1.1170 once it manages to violate the 1.1060 resistance level. On the lower side, 1.0985 persists the strong support and has the potential to keep the EUR/USD bullish today. During the early Asian session, the GBP/USD currency pair flashing green and got some support from the broad-based U.S. Dollar weakness. However, the GBP/USD failed to hold above the 1.2300 level, mainly due to the intensifying coronavirus (COVID-19) outbreak in the U.K. The Brexit uncertainty also keeps the pair below the 1.2300 level. At the press time, the GBP/USD is trading at 1.2271 and consolidates in the range between the 1.2132 - 1.2306. Whereas, the traders await the U.S. House votes on the COVID-19 aid Bill for fresh direction. The United States cases crossed China figures of more than 81,000 virus cases and reached on the top of the list. On the other hand, the U.K. reported the highest single-day rise in the death toll by 103 to 578 yesterday. At the Brexit front, the report came that the strong disputes between the United Kingdom and European Union regarding the Brexit talks that are already seen on the strong holding track for now while another report came that the United Kingdom will not be involved in European Union struggle for ventilators in the wake of Brexit. Support Resistance 1.2235 1.2281 1.2217 1.2309 1.217 1.2355 Pivot Point 1.2263 The GBP/USD pair continues to consolidate below 50% Fibonacci retracement level of 1.2300, as most of the traders seem to feel hesitant to take major positions ahead of the weekend. The economic outlook remains neutral, so the major focus will remain on the technical side of the market. On the 4-hour chart, the GBP/USD is facing double top resistance at 1.2263, and closing of candles below this level are suggesting odds of selling bias in the GBP/USD pair. The leading indicators, such as RSI and Stochastics, have started are in the overbought zone, which supports the chances of correction in the pair. The cable may find support around 1.2090, and below this, the next support stays around 1.1985. Let's look for selling trades above 1.2263. Good luck!