Forex Daily Forecast, Analysis and Prediction

Indonesian President Joko Widodo pushes ahead with plans to build a new national capital on Borneo, at an estimated cost of Rp450 trillion, confirmed by Planning Minister Suharso Monoarfa.

Singapore recorded 880 visitors in May amid tight border controls and the absence of a cure for the global Covid-19 pandemic.

South Africa continues to struggle with the Covid-19 pandemic and is on course to exceed 200,000 infections as soon as today, surpassing Germany and Turkey.

USD/JPY: Strong support at 107.36

BTC/USD: Well supported from $9,000 area

The US dollar did rally a little during the trading session on Friday as we had the Americans observing the Independence Day holiday on Friday, meaning that a lot of the liquidity simply was not there.

The West Texas Intermediate Crude Oil market did rally a little during the trading session on Friday, which makes sense considering that it was the observed Independence Day holiday.

The Euro fell initially during the trading session on Friday, reaching down towards the lows of the previous session on Thursday before bouncing.

The NASDAQ 100 could pull back a bit going into next week, but at the end of the day the reality is that we are very much in an uptrend.

The Australian dollar rallied a bit during the trading session on Friday and what could have been quiet trading due to the Americans observing Independence Day.

The British pound did little during the trading session on Friday, as we are dancing around the 50 day EMA.

EUR/USD: Medium-term consolidation pattern persists

GBP/USD: Picture would be much more bullish above 1.2550

The Indian Rupee has seen a surge of USD/INR selling emerge the past two trading days and the currency pair finds itself within the realms of a very important support level.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of July 5, 2020.