Daily Forex Forecast

09.07.2020EURUSD, “Euro vs US Dollar”After breaking 1.1300 to the upside, EURUSD may continue growing towards 1.1380. Later, the market may correct to reach 1.1280 and then resume trading inside the uptrend with the target at 1.1410.GBPUSD, “Great Britain Pound vs US Dollar”After breaking 1.2525 and...

Aussie dollar tumbles on virus, RBA fears. The Australian dollar look set to once again break through the US70c mark for the first time in more than a month yesterday, before being sold off sharply, as news emerged that more parts of the state of Victoria would be entering another round of the lockd...

08.07.2020EURUSD, “Euro vs US Dollar”After breaking 1.1300 to the downside and starting a new correction towards 1.1250, EURUSD has reached the short-term correctional target at 1.1260 and returned to test 1.1300 from below. Possibly, today the pair may form a new descending structure to reach 1.125...

Pound to suffer on drawn out Brexit negotiations The British pound is once again stuck in a tight trading range aginst its European counterpart as the market awaits the next news regarding 0the progress of Brexit negotiations and many predict that the longer the process drags on the worse it will be...

07.07.2020EURUSD, “Euro vs US Dollar”After breaking 1.1300, EURUSD is consolidating above it. If later the price breaks this range to the downside, the market may start a new correction towards 1.1250; if to the upside – resume trading inside the uptrend with the short-term target at 1.1380.GBPUSD, ...

New virus outbreak to diminish oil demand The oil price continues to hover around a 4 month high in today’s trading session which has largely been driven by the production cuts agreed to by Opec and Non-Opec members but all the hard work to drive up the oil price may come undone by a second wave of ...

06.07.2020EURUSD, “Euro vs US Dollar”EURUSD is moving upwards. Possibly, the pair may reach 1.1290 and then start a new correction towards 1.1262. After that, the instrument may form one more ascending structure with the target at 1.1305 and then start another correction to return to 1.1262.GBPUSD, ...

Euro may benefit from less stimulus While other countries are continuing to expand their economic stimulus programs to offset the devastating effects of the coronavirus, the European block is rumoured to be considering reducing the size of their program which some analyst say is a sign the European ...

03.07.2020EURUSD, “Euro vs US Dollar”EURUSD is forming another descending wave. Possibly, today the pair may break 1.1222 and then continue falling with the short-term target at 1.1180. After that, the instrument may correct to test 1.1222 from below and then start another decline to reach 1.1144.GB...

Gold hits 8 year high The price of Gold has pulled back in today’s trading session after reaching an 8 year high as a rise in coronavirus cases sparked concerns over the economic recovery from the devastating effects of the virus and boosted demand for safe-havens. Just when things seemed to be gett...

02.07.2020EURUSD, “Euro vs US Dollar”After completing the descending structure at 1.1184, EURUSD is growing towards 1.1287, thus forming a new consolidation range around 1.1240. After reaching 1.1287, the instrument may start another decline with the target at 1.1204.GBPUSD, “Great Britain Pound vs ...

Australian dollar at risk of 2nd wave of virus The Australian Dollar in under further pressure in today’s trading session after one of Australia’s most populous states reintroduced lockdown measures to contain a possible 2nd outbreak of the coronavirus that threatens to derail the remarkable recover...

01.07.2020EURUSD, “Euro vs US Dollar”After completing another correctional structure at 1.1260, EURUSD is falling towards 1.1215. Possibly, today the pair may reach this level and then form a new consolidation range around it. If later the price breaks this range to the downside, the market may cont...

Chinese Oil Alliance China's state-owned oil companies are negotiating an alliance for joint oil purchases. Four state-owned refineries (China Petroleum & Chemical, PetroChina, CNOOC and Sinochem Group) will jointly announce the price of some grades of oil. In official sources, this is presented...

Pound pressured by no deal scenario The British Pound is under further pressure in today’s trading session against its European counterpart after fears have once again risen, that the UK is heading for and exit from the European Union without a trade deal in place, which many predict would be disast...

30.06.2020EURUSD, “Euro vs US Dollar”After completing the descending structure at 1.1218 along with the correction towards 1.1251, EURUSD is expected to fall and break 1.1210 and then continue trading downwards to reach 1.1180. Later, the market may return to 1.1218 to test it from below and then fo...

29.06.2020EURUSD, “Euro vs US Dollar”After completing the descending structure at 1.1200, EURUSD is expected to continue the correction and grow to reach 1.1250, at least. Later, the market may form a new descending structure with the target at 1.1150.GBPUSD, “Great Britain Pound vs US Dollar”After ...

Investors turn to US dollar for safety The U.S. dollar is once again showing it’s strength as a safehaven currency as fears rise over the sudden increase in coronavirus infections in some U.S. states which may show the world’s biggest economy was premature in ending the lockdown. US states such as T...

26.06.2020EURUSD, “Euro vs US Dollar”After completing the structure at 1.1192, which may be considered as the third wave, EURUSD has broken its channel to the upside. Possibly, today the pair may correct towards 1.1250 and then may form a new descending structure with the first target at 1.1155.GBPU...

Pound now seen as emerging currency Ever since the 2016 referendum, the British Pound has experienced extreme volatility not previously seen, and some now say that the Sterling is behaving like an emerging currency and should be in the same category with currencies such as the as the Mexican Peso. T...

25.06.2020EURUSD, “Euro vs US Dollar”EURUSD continues falling with the predicted target at 1.1181. After that, the instrument may correct towards 1.1244 and then may form a new descending structure to reach 1.1144.GBPUSD, “Great Britain Pound vs US Dollar”GBPUSD is trading downwards with the predict...

Oil falls on inventory gains The oil price is experiencing further volatility in today’s trading session, following on from yesterday’s losses, after U.S. crude inventories jumped significantly higher, raising fears about the current oversupply of oil in the market. U.S. crude inventories shot up by...

24.06.2020EURUSD, “Euro vs US Dollar”After breaking 1.1280 to the upside and then reaching 1.1345, EURUSD has finished the descending impulse at 1.1300 along with the correction towards 1.1325. Possibly, today the pair may form a new descending structure to reach 1.1260 and then resume continue trad...

Australian dollar not overvalued RBA says The Australian dollar’s stellar recovery against the US dollar from historic lows since the depths of the coronavirus has been quite remarkable to say the least, and according to the Reserve Bank of Australia there should be no concerns as yet that the curre...

23.06.2020EURUSD, “Euro vs US Dollar”After completing the ascending structure at 1.1255, EURUSD is consolidating around this level. Possibly, today the pair may grow to reach 1.1310 and then fall to break 1.1200. Later, the market may continue trading downwards with the target at 1.1100.GBPUSD, “Gre...

22.06.2020EURUSD, “Euro vs US Dollar”EURUSD continues forming the third descending wave towards 1.1100; right now, it is consolidating above 1.1170. Possibly, the pair may correct to reach 1.1220 and then fall towards 1.1155. Later, the market may test 1.1170 from below and then resume trading downw...

Gold looking towards $1800 The gold price is pushing higher once again in today’s trading session, following on from last Friday’s gains as some in the market raise fears about the recovery of the global economic recovery due to the effects of the coronavirus, with the main worries attributed to the...

Canadian dollar to outperform commodity currencies The Canadian Dollar may be the currency to watch over the next few weeks from the list of commodity currencies and is poised to outperform others such as the Australian dollar on the back of improving fundamental factors and the rebound in the oil p...

19.06.2020EURUSD, “Euro vs US Dollar”EURUSD has expanded the consolidation range down to 1.1185. Possibly, today the pair may grow to test 1.1222 from below and then resume trading downwards with the short-term target at 1.1100.GBPUSD, “Great Britain Pound vs US Dollar”GBPUSD continues forming the t...

18.06.2020EURUSD, “Euro vs US Dollar”EURUSD is still consolidating around 1.1222. Possibly, the pair may expand the range up to 1.1290 and then fall to break 1.1200. Later, the market may continue trading downwards with the short-term target at 1.1160.GBPUSD, “Great Britain Pound vs US Dollar”GBPUSD...