Forex Daily Forecast, Analysis and Prediction

The USD/JPY performance has often been seen as representing a conflict between safe havens in the era of the COVID-19 epidemic.

The oil markets fell hard during the trading session on Friday, as we have broken down below the $36.25 level in the West Texas Intermediate Crude Oil market.

The US dollar has fallen during the trading session on Friday, reaching down towards the ¥104 level yet again.

The Australian dollar has rallied during the trading session on Monday, but gave back the gains in order to form a negative candlestick.

The NASDAQ 100 has fallen rather hard during the trading session on Friday, rapidly slamming into the 11,000 level.

The S&P 500 has initially tried to rally during the trading session, but then broke down significantly to reach towards the 3230 level.

The EUR/JPY is near vital support which was last tested in mid-July before a large bull run engaged and peaked in early September.

The DAX Index this morning has pulled itself out of the lower depths of its recent value slump, but traders should be prepared for further tests which will examine investment fortitude.

Resistance levels within the USD/MXN continue to look vulnerable short term as trading has become rather risk adverse and the forex pair trends higher.

AUD/USD: Big round number below at 0.7000

BTC/USD: Level to watch at $13,385

A solid short-term bullish trend in the USD/SGD has demonstrated strength the past few days as forex has turned cautious.

GBP/USD: Room to fall to 1.2785

The British pound went back and forth during the course of the trading session on Friday.

Bitcoin markets initially fell during the trading session on Friday, reaching down towards the $13,000 level before turning around and forming a hammer.