Forex Daily Forecast, Analysis and Prediction

Silver markets fell almost immediately during the trading session on Wednesday to break down below the 50-day EMA again.

Bitcoin markets broke down during the trading session on Wednesday to break below the $18,000 level before finding support.

The Australian dollar initially shot higher during the trading session on Wednesday as the complete “risk on" trade was in full effect.

The US dollar continues to do very little against the Japanese yen, although the session on Wednesday was slightly positive.

Price supported by ascending trend line.

Recent profit-taking sales pushed the EUR/USD towards the 1.2080 support.

Instability with a downward tendency is what recently characterized the GBP/USD performance.

For the second week in a row, the price of gold is in a bullish correction range.

Stability around and below the 104.00 support level continues to fuel the survival of the USD/JPY in the range of a sharp downward channel.

In early trading this morning, the DAX Index has produced another solid leg upwards and its positive momentum is evident for all speculators to see.

The USD/BRL has developed what appears to be a sincere bearish trend since the end of October.

The 15.00000 mark was broken lower late yesterday via the USD/ZAR and its current value is sustaining the bearish trend.

After being able to display a solid bearish trend since late August, the USD/PKR has seen a small bullish reversal take place since the end of November.

With the UK starting to vaccinate its population against COVID-19, global optimism continues to increase, and the debt burden of 2020 remains ignored.

With the COVID-19 pandemic resulting in governments around the world spiking debt to support their domestic economies and thus fueling an unsustainable debt bubble, central banks slashed interest rates but also spiked their gold purchases.