Forex Daily Forecast, Analysis and Prediction

GBP/USD: Pound one of the strongest major currencies

EUR/USD: Unclear whether price can break 1.2000

Experienced traders know that momentum can shift quickly in forex and the last three trading sessions for the USD/SGD has delivered this lesson well.

Overconfidence can become a very dangerous character flaw within a new speculator.

This contributed to an upward closing of the EUR/USD price, reaching the 1.1919 resistance.

The markets believed that this decline would not last for long, as the US dollar quickly declined strongly with the market’s absorbing what Jerome Powell announced.

Forex traders ignored fears of a bleak outlook for Brexit, and the US dollar’s decline was exploited.

The pair has now fallen to the oversold levels of the 14-hour RSI on the hourly time frame chart.

The USD/PKR has seen some downward momentum develop the past two and half days of trading.

The EUR/CHF has experienced what some technical traders may interpret as sideways action the past month.

The past week of trading for the USD/BRL has seen a bearish cycle emerge.

The USD/ZAR reestablished its bearish trend on Friday with a swift move downwards.

AUD/USD: New 1-year highs hit again

USD/JPY: Price is stuck in a very unclear area below 106.00

Mexico remains the eight-most infected Covid-19 country globally and has the fourth-highest death toll.