Forex Daily Forecast, Analysis and Prediction

The Euro looks as if it may try to rally a bit from this general vicinity, but as you can see on the last couple of candlesticks, we have had sellers above.

The NASDAQ 100 has rallied again during the trading session on Wednesday, breaking above the 10,000 level during the day.

The US dollar has initially tried to break above the ¥107.50 level but then pulled back a bit to show signs of exhaustion.

USD/JPY: New resistance level near round number at 107.00

The S&P 500 has tried to rally during the trading session on Wednesday, but as you can see gave up quite a bit of the gains as we continue to see resistance just above.

The Australian dollar has initially fallen during the trading session on Wednesday, but then found buyers underneath the turn the whole thing around.

The USD/ARS continues to be a forex pair with a seemingly one-way direction.

BTC/USD: Weakly bearish

GBP/USD: British Pound relatively weak

The Brazilian Real remains within an opportunistic trading range for nimble traders who have the ability for solid entry points and are capable of using take profits and stop losses.

Germany implemented a nationwide lockdown in response to the Covid-19 pandemic in March.

The month of June has seen the USD/MYR trade within a solid range between 1.2500 and 1.2800 and this consolidated value is an attractive trading opportunity for those who can manage their risk properly.

EUR/USD: False breakdown yesterday

The Pakistani Rupee continues to test important resistance and interestingly has developed a consolidated range this week.

With the global economy in a recession, which started in 2019 with a manufacturing-led contraction, magnified by the Covid-19 pandemic in 2020, Singapore remained the most competitive economy for a second consecutive year.