Forex Daily Forecast, Analysis and Prediction

The Indian rupee has done very little over the last couple of days as we continue to dance around the ₹74.50 level,

Mexico reported its fifth consecutive GDP contraction with a historic 18.9% drop in the second quarter.

The IMF approved the emergency financial assistance after South Africa entered a crisis for which it requires outside capital. Get today's analysis here.

The bullish momentum still dominates the EUR/USD performance, and during yesterday's trading, it pushed towards the 1.1800 resistance, which confirms the extent of the bulls' control over the performance, with continued pressure on the American currency.

Almost a month ago, it was highly unlikely that the GBP/USD could reach the 1.3000 psychological resistance, as the pair was moving inside a bearish channel that pushed it towards the 1.2257 support at the time.

For the third consecutive day, gold ounce price was not able to overcome the $1981 resistance barrier, the highest in the history of the yellow metal, which confirms how overbought gold is after the recent price jumps.

Record and historical economic deflation in the U.S during the Q2 of the controversial year 2020, will be tough, but expected, on the USD, which explains why the USD/JPY remained around its lowest levels since the mid of last March.

AUD/USD: New 1-year high price made at 0.7197

USD/JPY: 105.00 area not giving any clues yet

BTC/USD: Consolidation above $10,696 likely over medium term

GBP/USD:Yet 1.3000 could be a strong obstacle

EUR/USD:Key support at 1.1685

The Euro has rallied quite significantly during the trading session on Wednesday, reaching towards the 1.18 level.

The NASDAQ Composite Index has experienced a short bearish trend the past week of trading after hitting new highs.

While the precious metal is certainly alluring and full of opportunity, trading Gold can also lead to quick losses if risk management is not used properly.