Forex Daily Forecast, Analysis and Prediction

With the second wave of the Covid-19 pandemic pushing Germany closer to a fourth-quarter recession, the implemented lockdown announced by Chancellor Merkel may extend

South African President Cyril Ramaphosa tried to drum up support for foreign direct investment during the third South Africa Investment Conference (SAIC).

The Euro broke down a bit during the trading session on Thursday but as the Europeans went home, the Americans decided to buy it.

Silver dipped a bit during the trading session on Thursday, dropping below the $24 level before turning right back around to form a bit of a hammer.

While I still believe that Bitcoin is very bullish overall, the market is without a doubt parabolic at this point.

Gold markets have fallen again during the trading session on Thursday to reach down towards the $1850 level.

The British pound fell rather hard to kick off the trading session on Thursday, but it appears that there is some at least hint of progress in the Brexit talks

More bearish within medium-term range.

New lower resistance level at $18,000.

The USD/BRL has produced a slightly bearish trend the past few days of trading and has been able to display ability to incrementally lower resistance levels.

More bearish picture as USD regains ground.

The USD/ZAR continues to trade within its lower price values which it accomplished this November, but yesterday saw a reversal higher after a test of support failed to puncture values below.

Despite factors supporting further gains for the EUR/USD, there is a reservation for the currency pair to surpass the resistance level at 1.1900.

Optimism about the possibility of the European Union and Britain reaching a trade deal contributed to the GBP/USD gains, pushing it near its highest level in two-and-a-half months.

For the third day in a row, and despite the USD drop, the gold price fell to $1858 an ounce at the time of this writing.