Forex Daily Forecast, Analysis and Prediction

BTC/USD: $10k area may still be supportive

The US dollar has gone back and forth during the trading session on Thursday, initially trying to rally towards the ¥105 level, but then fell hard to reach towards the ¥104 level before bouncing yet again.

The West Texas Intermediate Crude Oil market has broken significantly during the session on Monday, slicing through the $40 level.

The S&P 500 has fallen rather significantly during the trading session on Monday, reaching down as low as 3220, an area that I remember from a couple of months ago as being crucial.

GBP/USD: Pivotal points at 1.2773

EUR/USD: Key support at 1.1745 seems to be breaking down

Silver markets broke significantly to the downside during the day on Monday, slicing through the $26 level.

The British pound initially tried to rally during the trading session on Monday but gave back the gains at the 50 day EMA.

The gold markets broke down a bit during the trading session on Monday, reaching below the $1900 level.

Bitcoin initially tried to rally during the trading session on Monday, but then gave back the gains as there was so much strength in the US dollar.

The Euro initially tried to rally during the trading session on Monday but gave back the gains and crashed towards the 1.17 level.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of September 21, 2020.

Amidst a new downward momentum for the EUR/USD, the trading session on Thursday was the most declining for the pair, which collapsed to the 1.1737 support, the lowest level in a month before closing the week’s trading around the 1.1841 support.

The Bank of England has taken another step to prepare for possible negative interest rates.

The sharp selling of the USD/JPY pushed the technical indicators to strong oversold areas, as the pair retreated to the 104.27 support, its lowest level in more than a month and a half.