Forex Daily Forecast, Analysis and Prediction

Preliminary June PMI data out of the Eurozone releases on Tuesday surprised to the upside but did little to rally the Euro.

South Africa’s economy is predicted to contract by 7.2% in 2020, as outlined during a budget adjustment delivered by Finance Minister Tito Mboweni.

Mexican President López Obrador acknowledged 85,000 formal job losses related to the Covid-19 pandemic, adding that the number is forecast to increase to 130,000 by the end of June, and 1,000,000 in total.

BTC/USD: Bulls just cannot break above $10,000

Even as global equity markets roiled late yesterday and early today the USD/MYR has been able to hold onto its known value range.

After steady gains against the US Dollar during most of June, sudden fear in the forex market sparked by renewed worries about Coronavirus has caused a selloff of the Euro against the US Dollar.

Gold has experienced a strong amount of selling early this morning and has come off of its highest value levels.

Silver markets fell hard during the trading session on Wednesday, reaching down towards the $17.40 level, but have recovered slightly showing signs of support again.

Bitcoin markets broke down significantly during the trading session on Wednesday, reaching down towards the uptrend line that makes the ascending triangle.

The West Texas Intermediate Crude Oil markets have broken down significantly during the trading session on Wednesday as traders are starting to worry about whether or not the coronavirus numbers are going to pick up, and slow things in the economy down.

The gold markets did rally and break out to the upside during the trading session on Wednesday but gave back the gains as we get close to the $1800 level.

GBP/USD: Pivotal point at 1.2450

EUR/USD: Risk-off sentiment turn pushes price down

Saying the Argentine Peso is in trouble is too easy as the Argentina government continues to give critics plenty of ammunition.

Experienced traders know that forex demands different trading techniques depending on the currency pair which is being speculated.