Forex Daily Forecast, Analysis and Prediction

Gold markets have rallied a bit during the trading session on Thursday as we continue to see gold rally rather significantly.

The DAX Index has opened trading this morning with weaker sentiment and is challenging support levels which appear vulnerable.

The USD/BRL has broken lower in the past day and is testing a price range it has not traded in since mid-September.

The USD/MXN is near crucial long-term support and speculators should pay close attention because fireworks may develop.

The GBP/USD fell from the 1.344 resistance point again, and is still in a state of accidental fluctuation that the pair has been trading in for several weeks.

Since the beginning of this week’s trading, the bulls have had a stronger control over the EUR/USD performance.

GBP/USD gains may collide with concerns over possible failure in the Brexit negotiations at a very crucial time.

For three trading sessions in a row, the price of gold is moving in an upward correction range and pushed towards the resistance level at $1838 an ounce before settling around $1833.

News surrounding coronavirus vaccines and President Trump's transition initiation caused losses to the safe haven USD.

The USD/INR has seen another rather vicious move upwards early this morning as reversals come fast and hard.

The pair is currently trading at its highest levels in three months and at strong resistance levels.

The upside potential remains reduced to its 61.8 Fibonacci Retracement Fan Resistance Level, providing Forex traders with a secondary selling opportunity.

With deteriorating conditions for the US economy and the US dollar, Forex traders should sell any rallies from current levels.

Bitcoin pulled back a bit during the trading session on Wednesday, only to find buyers yet again.

The US dollar rallied significantly during the trading session against the Japanese yen on Wednesday, but continues to find resistance near the 50-day EMA.