Forex Daily Forecast, Analysis and Prediction

Early trading this morning in the USD/MXN has seen bullish momentum add onto Friday’s late trend, which developed after critical support at 20.80000 into focus.

Speculators within the USD/ZAR have another opportunity standing in front of them to test trends today.

While the USD/INR has delivered a bearish trend over the mid-term it has not come without a fight.

The Singapore Dollar is testing values that were traded in December of 2019, meaning the USD/SGD is within a price range experienced before global fears of coronavirus cascaded through the markets.

AUD/USD: 0.7250 area still looks pivotal

Sweden continues to report a steady and low rate of new Covid-19 infections, praising its approach to the initial wave, which faced heavy criticism due to an unacceptably high death toll.

Switzerland witnessed a gradual increase in new Covid-19 infection since mid-June when it started to open its land borders and eased restrictions.

USD/JPY: Japanese Yen is the strongest major currency

The Australian dollar has gone back and forth during the trading session on Friday, initially trying to pull back before rallying and before pulling back again only to settle on a relatively unchanged candle.

The NASDAQ 100 has fallen during the trading session on Friday, reaching below the 11,000 handle rather significantly.

Bitcoin markets have fallen a bit during the trading session on Friday, as we try to get above the $11,000 level.

BTC/USD: Bearish on risk-off sentiment

The US dollar has gone back and forth during the trading session on Friday but overall has seen more negativity than anything else.

The S&P 500 has initially fallen during the trading session on Friday, but as it was a quadruple witching day, the options market had their say as far as volatility was concerned.

Silver markets went back and forth during the trading session on Friday, as we continue to see a lot of choppiness.