Forecasts & Analysis

The US dollar has rallied significantly during the course of the trading session on Friday, to reach towards the top of the overall consolidation area.

China officials have declared that bitcoin-related speculation is banned.

The British pound initially tried to rally during the course of the trading session on Friday but gave back the gains at the 200 day EMA.

The British pound initially tried to rally against the Japanese yen during the trading session on Friday but gave back gains to form a less than impressive reaction to the bullish candlestick from the previous day.

The Euro has initially tried to rally during the trading session on Friday but fell back towards 1.17 level underneath.

The Australian dollar has fallen rather hard during the course of the trading session on Friday, as it looks like the short-lived rally is coming to an end.

Bitcoin is currently struggling above the $41k level, following another crack down on cryptocurrencies by the People’s Bank of China earlier today.

Chinese authorities have reportedly told local officials to prepare for Evergrande’s potential demise, according to The Wall Street Journal.

Today gold is 0.8% higher, as it is retracing some of yesterday’s decline. What about the other precious metals?

The early price action suggests the direction of the EUR/USD on Friday is likely to be determined by trader reaction to the pivot at 1.1719.