Forex Daily Forecast, Analysis and Prediction

Following comments out of the Bank of Canada that an interest rate cut may follow soon, the Canadian Dollar collapsed as forex traders adjusted their positions

Monthly economic indicators by the New Zealand Treasury were released during the Asian trading session and they painted a weak economic picture for the small, export oriented economy.

16 Asian countries are close to signing an ASEAN trade pact which will be the largest in the world;

USDCAD: Level at 1.3120 looks pivotal today

USDCHF Analysis: Strongly supported around 0.9800

GBPUSD: Weakly bullish above 1.2920

EURUSD: Bullish above 1.1128

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of November 4, 2019.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of November 3, 2019 here.

Start the new trading week of November 4, 2019 prepared with our Forex forecast for major currency pairs here!

The Euro has rallied it during the month of October, as we continue to chop back and forth.

For the first time since working here at Daily Forex, I am covering the US dollar against the Chinese Yuan because it is such an important currency pair that unfortunately far too many retail traders ignore.

The British pound has rallied a bit over the last 30 days as October was very kind to Sterling.

The US dollar has rallied during the month of October against the Japanese yen but started to stall once we got closer to the 61.8% Fibonacci retracement level at the ¥109.50 level.

The British pound has rallied significantly during the month of October as fears of a “no deal Brexit” are starting to subside a little bit.