Forex Daily Forecast, Analysis and Prediction

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.

The S&P 500 rallied enough on Friday to fill the gap from previous trading.

The British pound fell significantly during the trading session on Friday after the Non-Farm Payroll announcement came out.

The US dollar has rallied significantly against the Japanese yen during trading on Friday after the Non-Farm Payroll report.

The NASDAQ 100 has pulled back a bit during the trading session on Friday after the Non-Farm Payroll number came out.

The West Texas Intermediate Crude Oil market has fallen slightly during the trading session on Friday, as the 200 day EMA continues to attract a lot of attention.

Gold markets have formed an engulfing bearish candlestick during the trading session on Friday, showing signs of weakness.

The Bitcoin market fell significantly during the Friday session, pulling back from just below the $1200 level.

Silver markets have been volatile during the trading session on Friday, initially spiking towards the $30 level before pulling back.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of August 9, 2020.