Forex Daily Forecast, Analysis and Prediction

GBP/USD: Price likely to continue to move sideways

The British pound initially tried to rally during the session on Friday but failed at the 1.30 level yet again.

EUR/USD: Key support at 1.1826

Gold markets went back and forth during the trading session on Friday again, as we simply drift sideways in general.

The West Texas Intermediate Crude Oil market initially pulled back a bit initially during the trading session but found some support at the 50 day EMA before turning around to reach towards the 200 day EMA.

The Euro has gone back and forth during the trading session on Friday but at this point it looks as if it is still struggling with the idea of the 1.19 level above, which has offered significant resistance.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of September 21, 2020, here.

Start the week of September 21, 2020, with our Forex forecast focusing on major currency pairs here.

Mexico is on course to cross the 700,000 infection level over this weekend, as the death toll nears 72,000, the fourth-highest globally.

Indonesia returned to partial, localized lockdowns amid a surge in Covid-19 infections.

The US dollar has broken major support and the ¥105 level, an area that of course has been very important in the past and of course is a very large, round, psychologically significant figure.

The British pound has initially fallen during the trading session but also has turned around to show signs of strength again.

The US dollar initially rallied against the South African Rand but found resistance near the 16.50 Rand level.

The Australian dollar initially fell during the trading session on Thursday, but then turned around to show signs of life again.

The Euro fell rather hard during the trading session on Thursday, reaching down towards the 1.1750 level before turning around and forming a massive hammer.