Forex Daily Forecast, Analysis and Prediction

The USD/SEK bearish trend is noteworthy for a variety of reasons.

The USD/SGD battled through a short term bullish trend which was experienced from the 5th of August until the 12th of August, yet bearish momentum has been reestablished the past three trading sessions.

AUD/USD: 0.7200 area looking pivotal

South Africa faces near-and-long-term challenges, as Africa’s most industrialized nation and second-largest measured by GDP, trailing Nigeria, is forced by the Covid-19 pandemic to address core issues plaguing the economy.

India has taken a leadership position in new daily confirmed Covid-19 infections, surpassing both the US and Brazil.

USD/JPY: Support at 106.43 looks pivotal

The US dollar initially tried to rally during the trading session on Friday but gave back the gains at the ¥107 level for the third day in a row, showing real weakness.

The British pound initially rallied during the trading session on Friday but has found a significant amount of resistance at the 1.3150 level again.

The S&P 500 pulled back a bit during the trading session on Friday, and at first looked a little bit limp.

BTC/USD: Resistance above $12k likely to be very strong

The Euro pulled back a bit during the trading session on Friday but has recovered quite nicely to form a green candlestick.

The NASDAQ 100 has gone sideways again during the day on Friday, as we are near the 11,150 level.

GBP/USD: Potentially strong bullish breakout above 1.3134

The Australian dollar initially pulled back during the trading session on Friday but continues to find buyers underneath.

Silver markets have fallen a bit during the trading session on Friday, as we have seen a bit of profit-taking, or perhaps just simple consolidation.