Forex Daily Forecast, Analysis and Prediction

With the loss of hope that the two sides of Brexit - the European Union and the UK - will soon reach an agreement that will chart relations between them after the end of the transitional period.

The Swedish Krona continues to make support levels appear vulnerable.

The USD/ZAR has run into a large amount of consolidation the past few trading sessions as stable risk appetite and a solid price for gold are balanced by staggering coronavirus statistics and economic worries from South Africa.

The USD/PKR has endured choppy trading the past five days, but its range should not be a surprise to anyone.

India is the third-most infected country with Covid-19, trailing the US and Brazil, and the most-infected in Asia.

Brazil registered over 2,000,000 confirmed Covid-19 infections, second only to the US, which is expected to cross 4,000,000 cases in the next 48 hours.

Even as its government and private analysts admit Singapore’s economy is suffering setbacks because of knock-on effects from coronavirus the USD/SGD has tested support levels as selling of the forex pair remains steady.

For two weeks in a row, the USD/JPY currency pair was moving in a dull performance in the vicinity of limited levels where it is unable to overcome the 108.00 resistance when preparing to move up.

AUD/USD: Market risk sentiment still weak

USD/JPY: Little going on here between 106.00 and 108.00

The Euro rallied significantly during the trading session on Friday to close towards the top of the range.

The Australian dollar rallied again during the trading session on Friday to reach towards the 0.70 level, an area that has offered massive resistance for some time.

The S&P 500 has rallied a bit on Friday like I suggested it could, as the market continues to grind back and forth.

BTC/USD: Yet almost no bullish momentum

The US dollar has initially tried to rally during the trading session on Friday but gave back the gains as we got a bit too close to the ¥107.50 level.