Forex Daily Forecast, Analysis and Prediction

USDCAD: Today’s pivotal point likely to be 1.3240 / 50

USDCHF Analysis: Trendless ranging price action

GBPUSD: Volatility expected

EURUSD: Weakly bullish above 1.1018

Risk-off sentiment is slowly returning after the initial euphoria that a partial trade deal has been announced between the US and China.

After the release of the RBA minutes from its latest meeting, the Australian Dollar was able to maintain its bullish bias.

As Bitcoin struggles to gain traction, Litecoin has been able to use its 8th anniversary and push back above its 38.2 Fibonacci Retracement Fan Resistance Level

By the end of last week's trading, the price of gold suffered the strongest losses that pushed it towards the $1474 support

The GBP/USD pair gained 2.5% over the course of last week's trading, supported by growing expectations for a possible Brexit deal.

It was normal for the EUR/USD to move up to the 1.1062 resistance during the week's trading in light of the optimism that prevailed in the financial markets

During last month's trading, and in October’s first trading session, the USD/JPY failed to breach the 108.50 resistance level

Economic data out of New Zealand showed that its service sector continued to expand in September, but at a slightly slower pace.

After the US and China announced that the details of a partial trade deal will be worked out and new tariffs delayed, risk-on sentiment overtook the markets and traders fled safe-haven assets.

With another interest rate cut looming by the US Fed this month, the US Dollar is under bearish pressures.

The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Friday, as word got out that the Iranian tanker had been hit by a couple of missiles in the Red Sea.