Forex Daily Forecast, Analysis and Prediction

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.

The Euro has had a choppy session on Friday, as it tries to figure out where it is going next.

The South African Rand has exhibited a rather good range for short term traders the past week as its support and resistance levels have proven capable.

Malaysia’s GDP outlook was revised lower by the International Monetary Fund (IMF), from a 1.7% contraction to 3.8% in 2020.

The Aussie dollar has drifted a little bit lower against the Japanese yen during trading on Friday, with what would have been seen as a slight “risk-off trade.”

The Pakistani Rupee should get a long and thoughtful look from speculators early this week.

The silver markets fell during the majority of the session on Friday but started seeing buyers get involved later in the day.

EUR/USD: Short-term weakly bullish above 1.1241

Bitcoin markets fell slightly during the trading session on Friday, reaching down towards the 50 day EMA.

Global risk sentiment remains fragile early today on the broad markets.

Indian Prime Minister Narendra Modi banks on India’s domestic economy to overcome the devastating impact of the Covid-19 pandemic.

Singapore industrial production posted a surprise 7.4% drop in May year-over-year despite an ongoing increase in pharmaceutical output.

Brazilian Treasury Secretary Mansueto Almeida updated the 2020 public sector primary deficit outlook to reflect an increase of up to R$800 billion,

The West Texas Intermediate Crude Oil market fell a bit during the trading session on Friday but remains within the range of the Thursday session.