Forex Daily Forecast, Analysis and Prediction

Germany’s economy is faced with a steep recession in 2020, estimated between 6.5% and 8.5%, while it battles a resurgence of Covid-19 infections.

GBP/USD: New lower resistance at 1.2314

EUR/USD: Potential support at 1.1195

Pakistan delivered its first economic contraction in 68 years, with a 0.38% decrease for the 2019-2020 fiscal year, which ends today.

Silver markets went back and forth during the trading session on Monday, as we continue to see a lot of noise in this market.

The bitcoin market has broken down a bit during the trading session initially on Monday, slicing below the 9000 level before recovering a bit.

The West Texas Intermediate Crude Oil market has initially gapped lower to kick off the week on Monday, and then turned around to show signs of strength again

Gold markets have gapped higher to kick off the week, but then turned around to show signs of strength again as we filled the gap and essentially bounce right back.

South African Finance Minister Tito Mboweni confirmed the government has no plans to raise income, corporate or value-added tax.

Mexico’s economy plunged by 17.3% in April, the steepest contraction since 1993 per the National Institute of Statistics and Geography

After the recent EUR/USD sell-off and in light of the US dollar strength as a safe-haven currency with the beginning of a coronavirus second wave, this pair has moved below the 1.1200 support level.

For the second day in a row, gold prices are moving in a limited range amid an upward momentum between the $1756 an ounce and $1766 after recent gains pushed it towards the $1780 resistance, its highest level after nearly eight years.

The US dollar strengthened and renewed fears about the future of Brexit and the varied economic performance of both Britain and the United States.

For the fourth consecutive day, the USD/JPY pair is trying to reach higher, but its attempts have not crossed the 107.45 level barrier and is settling around the 107.20 level.

The S&P 500 fell hard during the day on Friday, but the thing that you should pay more attention to than the negativity is the fact that the 3000 level is still a hot zone for both buyers and sellers.