Forex Daily Forecast, Analysis and Prediction

Support level at 1.1903 looks pivotal.

The GBP/USD is down for the fourth straight day as the number of coronavirus cases in the UK keeps rising.

The BTC/USD price bounced back even as global regulators continued to warn about Binance, the biggest exchange in the world.

Throughout the last week’s trading, the price of the EUR/USD currency pair was in an upward correction range, but it did not find the momentum to be strong.

There are weakness factors that may negatively affect the performance of the sterling against the rest of the other major currencies.

Despite the continued gains of the US dollar, the price of gold tried to achieve gains that extended to the resistance level of 1795 dollars an ounce before closing trading stabilized

Expectations of raising the US interest rate still support the strength of the US dollar against the rest of the other major currencies.

Gold markets are on the precipice of making a rather large move.

The month of July could be a little bit soft.

The NASDAQ 100 has been very bullish over the last month, breaking above a significant barrier in the form of 14,000 during the last week of June.

The past week of trading in the USD/CAD has begun to signal that the rather dynamic bullish move produced since early June may be running out of momentum.

The USD/CHF has begun to produce downwards momentum the past week of trading and speculators may be inclined to pursue this trend.

The USD/ZAR has continued to incrementally see its support ratios penetrated the past few days of trading and they still appear vulnerable.

The USD/INR remains within the higher part of its mid-term range, but before going into the weekend, the Forex pair saw bullish behavior erode.

I think that we are close to making some type of bigger decision.