Forex Daily Forecast, Analysis and Prediction

The Australian dollar initially gapped lower to kick off the trading week, as we continue to dance around the 0.6750 level.

The S&P 500 initially gapped lower during the trading session on Monday in the futures market, broke higher, clearing the 50 day EMA before turning around.

CAD/CHF: More upside to follow breakout

GBP/JPY: Is a breakout pending?

AUD/USD: Bullish momentum is on the rise

There were technical sell-off in USD/JPY, as it failed again to breach the 108.50 resistance level and for four trading sessions in a row.

After USD/CAD correction attempts down to the 1.3200 threshold of support, the pair bounced back up strongly in the same general trend to the 1.3347resistance, the highest in a month, before closing transactions around 1.3302.

Last week's trading sessions were characterized by strong volatility of gold prices.

British Prime Minister Boris Johnson has presented his government with a final proposal to the European Union (EU) on the future of his country's exit from the European Union, which is officially scheduled for October 31.

For more than two weeks in a row, the GBP/JPY pair continues the downwards correction, with losses reaching the 131.21 support level recorded earlier this week.

The bearish momentum of EUR/USD is expected to remain valid for the longest period as the Eurozone economy is still far from benefiting from the ECB's stimulus plans at its last meeting.

Over the course of last week's trading, the EUR/USD fell to the 1.0880 support, its lowest level in 28 months, as pessimism about the outlook for the Eurozone economy continues, despite the ECB's stimulus plans, including interest rate cuts and asset purchase plans.

Continued downward pressure on AUD/USD contributed to the decline to the 0.6670 support level, the 10 years low, before settling around 0.6760 at the beginning of this week's trading.

The NASDAQ 100 has had a good session on Friday after the jobs number came out, reaching towards the 50 day EMA.

The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Friday, breaking above the top of the hammer from the Thursday session.