Forex Daily Forecast, Analysis and Prediction

South African Finance Minister Tito Mboweni confirmed the government has no plans to raise income, corporate or value-added tax.

Mexico’s economy plunged by 17.3% in April, the steepest contraction since 1993 per the National Institute of Statistics and Geography

After the recent EUR/USD sell-off and in light of the US dollar strength as a safe-haven currency with the beginning of a coronavirus second wave, this pair has moved below the 1.1200 support level.

For the second day in a row, gold prices are moving in a limited range amid an upward momentum between the $1756 an ounce and $1766 after recent gains pushed it towards the $1780 resistance, its highest level after nearly eight years.

The US dollar strengthened and renewed fears about the future of Brexit and the varied economic performance of both Britain and the United States.

For the fourth consecutive day, the USD/JPY pair is trying to reach higher, but its attempts have not crossed the 107.45 level barrier and is settling around the 107.20 level.

The S&P 500 fell hard during the day on Friday, but the thing that you should pay more attention to than the negativity is the fact that the 3000 level is still a hot zone for both buyers and sellers.

The British pound broke down during the Friday session and found the 50 day EMA to be a bit too resistive to continue going higher.

AUD/USD: Bulls and bears struggling over 0.6900 area

USD/JPY: Long-term low near 106.00 rejected last week

The Australian dollar initially fell during the trading session on Friday but we continue to see a lot of noise in this pair.

BTC/USD: Still weak support at $9,014

The USD/MXN forex pair has seen a flurry of US Dollar buying the past couple of trading sessions.

GBP/USD: New resistance at 1.2381

The NASDAQ 100 fell pretty significantly during the trading session on Friday as traders began to worry about the United States’ situation as there are multiple states showing signs of a spike of the coronavirus.