Forex Daily Forecast, Analysis and Prediction

GBP/USD: Support at 1.2500 is strong and significant

The NASDAQ 100 rallied a bit during the trading session on Friday, as the 10,500 level continues to be important.

The British pound has gone back and forth over the last several sessions and Friday was not any different in the fact that we are still in the same range.

EUR/USD: Beware long-term resistance near 1.1500

Silver markets have initially pulled back a bit during the trading session on Friday but found plenty of buyers near the $19.35 level as we see value on these dips.

The gold markets turned around to show signs of life again, as the Friday session ended the week with positivity.

The West Texas Intermediate Crude Oil market initially pulled back a bit during the trading session on Friday but turned around to show signs of life again near the $40 level.

The US dollar has rallied a bit against the Mexican peso to close out the week, reaching towards the 50 day EMA.

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Spain-based consultancy group FocusEconomics downgraded the Mexican economic GDP forecast for 2020 from a contraction of 7.5% to a drop of 8.5%.

South Africa business lobby group Business for South Africa (B4SA) identified twelve areas for reform that could boost Africa’s most industrialized country GDP by R1 trillion.

The Australian dollar initially tried to rally during the trading session on Thursday but failed again at the 0.70 level.

The US dollar rallied a bit during the trading session on Thursday against the Japanese yen but gave back the gains at the very end of the day.