Forex Daily Forecast, Analysis and Prediction

AUD/USD: Uptrend supported by commodity prices

GBP/USD: Bullish momentum under threat.

EUR/USD: Correction depends on 1.1630 support.

A consolidated range has emerged in the USD/MXN the past week.

While the US and Brazil exceeded 5,000,000 and 3,000,000 Covid-19 infections over the weekend, India crossed the 2,000,000 level.

This weekend, Brazil crossed the 3,000,000 level when it comes to Covid-19 infections, and Latin America’s largest economy registered over 100,000 casualties.

Short term correlations with gold and the USD/ZAR can be disastrous sometimes, a dynamic bullish trend has erupted in the forex pair which has left many speculators chasing bearish momentum feeling beaten up.

The mantra proclaiming, forex trading is never a one-way avenue that should be practiced by all traders.

The Australian dollar has had a rough trading session on Friday, giving back the gains after the Non-Farm Payroll announcement came out.

The Euro has broken down significantly during the trading session on Friday after the Non-Farm Payroll number came out.

The S&P 500 rallied enough on Friday to fill the gap from previous trading.

The British pound fell significantly during the trading session on Friday after the Non-Farm Payroll announcement came out.

The US dollar has rallied significantly against the Japanese yen during trading on Friday after the Non-Farm Payroll report.

The NASDAQ 100 has pulled back a bit during the trading session on Friday after the Non-Farm Payroll number came out.

The West Texas Intermediate Crude Oil market has fallen slightly during the trading session on Friday, as the 200 day EMA continues to attract a lot of attention.