Forex Daily Forecast, Analysis and Prediction

The US dollar showed some strength against other major currencies during last Friday's trading session, after data showed a larger than expected increase in US employment

The pace of sharp and continuous gains in the price of gold has stopped at the end of last week’s trading, amid profit-taking sales in light of the USD strength

The USD/CAD has produced short term bullish sentiment which has begun to produce tests of resistance levels.

Bitcoin/USD: Amid the resumption of the USD strength.

USD/JPY: Bullish break still weak.

AUD/USD: Uptrend supported by commodity prices

GBP/USD: Bullish momentum under threat.

EUR/USD: Correction depends on 1.1630 support.

A consolidated range has emerged in the USD/MXN the past week.

While the US and Brazil exceeded 5,000,000 and 3,000,000 Covid-19 infections over the weekend, India crossed the 2,000,000 level.

This weekend, Brazil crossed the 3,000,000 level when it comes to Covid-19 infections, and Latin America’s largest economy registered over 100,000 casualties.

Short term correlations with gold and the USD/ZAR can be disastrous sometimes, a dynamic bullish trend has erupted in the forex pair which has left many speculators chasing bearish momentum feeling beaten up.

The mantra proclaiming, forex trading is never a one-way avenue that should be practiced by all traders.

The Australian dollar has had a rough trading session on Friday, giving back the gains after the Non-Farm Payroll announcement came out.

The Euro has broken down significantly during the trading session on Friday after the Non-Farm Payroll number came out.