Forex Daily Forecast, Analysis and Prediction

The US dollar has so far been relatively buoyant during the week and Friday was not any different.

EUR/USD: Short-term triangle formation

The US dollar has fallen again during the trading session on Friday against the Mexican peso, testing the hammer that had formed on Thursday.

The British pound has looked horrible over the last several sessions as we are back to trading on the latest rumor or tweet based upon whatever nonsense is going on with Brexit at that particular moment.

The Australian dollar has rallied a bit during the trading session on Friday but gave back some of the gains as the 0.73 level will continue to offer a bit of resistance.

The Euro has rallied significantly during the trading session on Friday, just as we did on Thursday.

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South Africa reported a 51.0% GDP collapse for the second quarter, due to the Covid-19 related nationwide lockdown.

Japan revised its second-quarter GDP lower, from an initial collapse of 27.8% to 28.1%.

The US dollar has rallied again during the trading session on Thursday, as we have seen a huge “risk off” type of move late in the day.

The US dollar has gone back and forth during the trading session on Thursday again, as we tread water against the Japanese yen just below the 50 day EMA.

The Australian dollar has initially tried to rally during the trading session on Thursday but gave back the gains as risk disappeared from the markets late in the day.

The S&P 500 initially tried to rally during the trading session on Thursday, but then broke down towards the 50 day EMA that of course is crucial.