Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 initially spiked during the trading session on Monday, but after Pfizer announced that they had a coronavirus vaccine with over 90% efficacy, traders began dumping some of the biggest “work from home” stocks.

Gold markets were crushed during the trading session on Monday following the news that Pfizer is close to having a coronavirus vaccine with over 90% efficacy.

Silver markets were hammered by Pfizer during the trading session on Monday, breaking through the 50-day EMA from far above.

Bitcoin has been all over the place during the trading session on Monday, as the markets try to come to terms with various issues at once.

The British pound continues to fluctuate overall, and the 1.32 level continues to cause major issues.

The euro initially tried to rally during the trading session on Monday only to turn around and break down again.

Risk-on sentiment continues to recover

Throughout last week's trading, the EUR/USD was in a positive upward correction range amid investor optimism that Joe Biden would beat Trump in the US presidential elections.

The GBP/USD currency pair rose to the 1.3177 resistance during last week’s trading, its highest in two months before closing the week’s trading around 1.3147.

During last week’s trading, the price of gold recorded its best weekly performance since last July.

Last week’s trading was bloody for the USD/JPY performance, as the pair plunged to the 103.17 support, its lowest level in eight months, before closing trading around the 103.36 level.

The USD/MXN has mirrored global markets and its bearish trend has been fully reignited as support levels come under pressure.

Lots of room for price to rise higher.

The South African rand has shown it has the ability to sustain its lower forex values against the USD short term.

Dollar making minor recovery?