Forex Daily Forecast, Analysis and Prediction

USD/JPY: Little going on here between 106.00 and 108.00

The Euro rallied significantly during the trading session on Friday to close towards the top of the range.

The Australian dollar rallied again during the trading session on Friday to reach towards the 0.70 level, an area that has offered massive resistance for some time.

The S&P 500 has rallied a bit on Friday like I suggested it could, as the market continues to grind back and forth.

BTC/USD: Yet almost no bullish momentum

The US dollar has initially tried to rally during the trading session on Friday but gave back the gains as we got a bit too close to the ¥107.50 level.

GBP/USD: Support at 1.2500 is strong and significant

The NASDAQ 100 rallied a bit during the trading session on Friday, as the 10,500 level continues to be important.

The British pound has gone back and forth over the last several sessions and Friday was not any different in the fact that we are still in the same range.

EUR/USD: Beware long-term resistance near 1.1500

Silver markets have initially pulled back a bit during the trading session on Friday but found plenty of buyers near the $19.35 level as we see value on these dips.

The gold markets turned around to show signs of life again, as the Friday session ended the week with positivity.

The West Texas Intermediate Crude Oil market initially pulled back a bit during the trading session on Friday but turned around to show signs of life again near the $40 level.

The US dollar has rallied a bit against the Mexican peso to close out the week, reaching towards the 50 day EMA.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of July 19, 2020.