Forex Daily Forecast, Analysis and Prediction

The first few trading days of July have produced a bullish trend for the USD/IDR and it has tested resistance not treaded since early June.

The USD/SGD has seen a bullish sentiment emerge short term for the currency pair as resistance levels are approached this morning.

BTC/USD: Signs of support at $9,233

According to the latest monthly poll conducted by the Banco Central de la República Argentina (BCRA), the country’s central bank, the economy will tank by 12%.

Brazilian Central Bank President Roberto Campos Neto reiterated his assessment that the economy is recovering quickly and that the base of the Covid-19 shock is formed.

Mexican states resume the economic reopening process despite an increase in Covid-19 infections.

India struggled with a slowing economy before the outbreak of the Covid-19 pandemic forced a nationwide lockdown.

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

Silver markets rallied during the trading session on Monday to kick off the week yet again, as we reached as high as $18.75 before pulling back a bit.

The bitcoin market was relatively quiet over the weekend, but the Monday session did see some buying near the crucial $9000 level.

The West Texas Intermediate Crude Oil market initially took off to the upside during the trading session on Monday to open up the week, but we have a significant amount of resistance just above to cause issues.

EUR/USD: More bearish below 1.1300

Gold markets have rallied again after initially falling on Monday.

Bitcoin markets have been quiet over the last several sessions.

Silver markets have done extraordinarily little during the trading session on Friday which should not be much of a surprise considering that the Independence Day holiday with being observed in the United States.