Forex Daily Forecast, Analysis and Prediction

The AUD/USD pair dropped to the lowest level since September 30th mostly because of the stronger US dollar.

The BTC/USD price remained under pressure as investors reflected on news about India.

The USD/INR remains within a largely consistent price range and speculators may feel they have the ability to chase the Forex pair with limited risk.

For the third consecutive day, gold showed strong bearish momentum, which pushed it to the $1782 support level, a 3-week low, before settling around $1796 as of this writing.

The US dollar rose strongly in the Forex market after Joe Biden nominated Federal Reserve Chairman Jerome Powell for a second term.

The US dollar recovered after the re-appointment of Jerome Powell as chairman of the Federal Reserve, pushing the GBP/USD towards the 1.3342 support level before settling around the 1.3380 level as of this writing.

Today's trading session is an important one with the releases of significant US economic data, ahead of the Thanksgiving holiday that will affect liquidity in the markets.

There is room to fall below $1.3319.

The US dollar went back and forth on Tuesday against the South African rand, as we reached just below the 16 ZAR level during the day only to give up those gains.

The US dollar rallied significantly on Tuesday again as we have broken clearly above the 21 pesos level.

The Ethereum market rallied significantly on Tuesday as we have broken above the $4300 level.

The NASDAQ 100 fell a bit on Tuesday to test the top of the bullish flag that had sent us to this region.

The S&P 500 fell a bit on Tuesday to reach down towards the 4650 level, before we see buyers come back in and pick this market up.

The USD/TRY soared again in trading yesterday and new record highs were established when a rather intriguing speech by Turkish leader Erdogan was made public.

The gold markets broke down significantly on Tuesday as we have broken down below the 200-day EMA quite significantly.