Forex Daily Forecast, Analysis and Prediction

Despite gains of global stock markets, the gold prices got support from the fears related to the strength of the second Coronavirus wave in the United States of America

The US dollar rallied during the trading session on Monday, reaching towards the 0.70 level above.

The British pound rallied a bit during the trading session on Monday to kick off the week but gave back some of the gains to form a candlestick that is somewhat reminiscent of a hammer.

The S&P 500 rallied significantly during the trading session on Monday, as it got a bit of a bid during the Asian Globex trading.

The Euro rallied quite significantly during the trading session on Monday to kick off the week, as there was a definite “risk on” attitude around the world.

The NASDAQ 100 has shot straight up in the air during the trading session on Monday, breaking above the 10,500 level like it was not even there.

AUD/USD: USD strong as RBA leaves rates unchanged

USD/JPY: Strong USD is the key

The US dollar initially tried to rally during the trading session on Monday, reaching towards the ¥108 level.

The first few trading days of July have produced a bullish trend for the USD/IDR and it has tested resistance not treaded since early June.

The USD/SGD has seen a bullish sentiment emerge short term for the currency pair as resistance levels are approached this morning.

BTC/USD: Signs of support at $9,233

According to the latest monthly poll conducted by the Banco Central de la República Argentina (BCRA), the country’s central bank, the economy will tank by 12%.

Brazilian Central Bank President Roberto Campos Neto reiterated his assessment that the economy is recovering quickly and that the base of the Covid-19 shock is formed.

Mexican states resume the economic reopening process despite an increase in Covid-19 infections.