Forex Daily Forecast, Analysis and Prediction

India has taken a global leadership position in new daily Covid-19 infections, in some cases higher than that of the US and Brazil combined.

South Africa continues to experience a gradual decrease in new daily Covid-19 infections, but the condition is far from positive.

The Australian dollar has initially tried to rally during the trading session on Friday, but the US dollar got a bit of a boost against most currencies, including the Aussie.

GBP/USD: 1.3072 level looks extremely pivotal

The S&P 500 initially pulled back during the trading session on Friday, as the US dollar rallied rather significantly.

EUR/USD: Resistance area at 1.1823 looks pivotal

The US dollar has gone back and forth during the trading session on Friday as we continue to see a lot of noise just below the ¥106 level.

The Bitcoin market has pulled back just a bit during the trading session on Friday as we go into the weekend and face a significant amount of resistance in the form of the $12,000 level.

The NASDAQ 100 initially fell during the trading session on Friday, as we had seen a bit of US dollar buying.

The US dollar has rallied a bit during the trading session on Friday, and this put a bit of negativity into the silver markets.

The Euro has fallen hard on Friday but remains within the consolidation area that we have been in for some time.

The gold markets gapped higher to kick off the trading session on Friday, but then pulled back a bit to turn around and form a hammer.

The West Texas Intermediate Crude Oil market has pulled back during the trading session on Friday, reaching down towards the 200 day EMA just below.

The British pound initially tried to rally during the trading out on Friday, but then pulled back to reach towards the 1.31 level again.

Start the week of August 23, 2020 with our Forex forecast focusing on major currency pairs here.