Forex Daily Forecast, Analysis and Prediction

Start the week of December 7, 2020 with our Forex forecast focusing on major currency pairs here.

Mexico continues to struggle with the Covid-19 pandemic, and new daily infections tick higher.

Germany is on course to overtake Mexico as the eleventh most infected Covid-19 country as soon as today’s update and likely to enter the Top Ten list before the end of the year.

After what has been a massive amount of bullish pressure in the Euro, it looks as if it is starting to show a little bit of gravity in the interim.

Traders are anticipating some type of Brexit deal coming out in the next few days.

The US dollar fell during the trading session on Thursday to break down below the ¥104 level.

The West Texas Intermediate Crude Oil market has recovered from an initial pull back during the day on Thursday as we finally got an announcement from OPEC.

This is a market that should continue to go higher given enough time due to the fact that the US dollar itself is getting hammered.

The market will be looking at the 3600 level with special interest as there has been so much in the way of resistance

The NASDAQ 100 initially tried to rally during the trading session on Thursday but gave back the gains as the markets are waiting to see the jobs number on Friday.

The silver market went back and forth during the trading session on Thursday, as we continue to dance around the 50 day EMA.

Bitcoin rallied slightly during the trading session on Thursday as we continue to sit just below the $20,000 level.

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.