Forex Daily Forecast, Analysis and Prediction

For four trading sessions in a row, the EUR/USD pair has been moving in a downward correction range, which pushed it towards the 1.1780 support.

A state of cautious stability has dominated the gold performance since the beginning of trading this week, amid a stronger move by the bears, as the price of an ounce of gold stabilized around $1926 an ounce.

The US currency recovered alongside renewed fears of a bleaker outlook for Brexit, after Boris Johnson - Britain's prime minister - threatened by saying it was too late for an agreement.

Amid expectations of the announcement of a sharp and record contraction in the Japanese economy today, in the era of Corona, the USD/JPY receives these important data with the return of bears' control, as the pair stabilized around the 106.25 level at the time of writing.

The Dax Index has traded with plenty of volatility the past few days which mirrors the results seen on global indices.

While the Brazilian Real continues to maintain a relatively stable price range and display rather narrow support and resistance levels, a bearish trend has also been maintained.

In early trading this morning the USD/INR has seen another short term bullish trend emerge.

The Pakistani Rupee is managing to once again traverse near short term support levels which certainly look important via technical charts.

Despite claims by Mexican President López Obrador that the country and economy weathered the depth of the Covid-19 induced recession better than many global counterparts, Mexico remains under significant short-term stress.

South Africa likely faced a massive collapse in its second-quarter GDP, with estimates ranging between 20% and 53%.

The Euro has pulled back a bit during the trading session on Monday, but you should keep in mind that it was Labor Day in the United States so therefore there was a serious lack of liquidity during at least half of the session.

The Australian dollar has done very little during the trading session on Monday, but you would expect that as it was Labor Day in the United States.

The silver markets gapped higher to kick off the Monday session but then simply danced around the $27 level.

AUD/USD: Possible higher support at 0.7250

USD/JPY: Total directionless consolidation