Forex Daily Forecast, Analysis and Prediction

EUR/USD Bullish correction attempts last week's trading culminated by the rise towards the 1.1018 resistance, the highest level in a month

The prospect of new trade skirmishes between the United States and China, at a time when the global economy itself needs intensive care,

Given Australia’s dependence on China, commentary by US President Trump regarding more tariffs added downside pressure on the Australian Dollar,

While New Zealand is caught in the vortex of the diplomatic row Australia sparked with China, its currency struggles with rising domestic issues.

Last week the US reported job losses related to the Covid-19 pandemic exceeded 30 million.

According to a snap poll conducted of 300 Indian CEOs, it will take the economy at least one year to return to normal after all lockdown measures are lifted.

AUD/USD: Back below the big round number of 0.6500

USD/JPY: Possible beginning of a bullish head and shoulders from 106.60

BTC/USD: Support level at $8,375 looks very strong

GBP/USD: Likely to consolidate today between 1.2396 and 1.2484

The US dollar continues to dance around the ¥107 level, as we have dipped a below there and now it looks like we are going to continue to see negative pressure applied to this currency pair.

The British pound initially tried to rally during the trading session on Friday but then gave back the gains to dip below the 1.25 handle.

The Euro rallied initially during the trading session on Friday, reaching slightly above the 1.10 level before pulling back.

NASDAQ 100 traders sent this market much lower during the trading session on Friday, perhaps possibly due to Tesla or Amazon being sold off.

The Australian dollar broke down significantly during the trading session on Friday, as we broke down below the 0.65 handle.