Forex Daily Forecast, Analysis and Prediction

The Bitcoin market broke above the $35,000 level during the trading session on Wednesday, as we continue to see concerns about stimulus now that the Senate has "flipped blue”.

The British pound fluctuated during the trading session on Wednesday as we look at the 1.36 level as a bit of an anchor for price.

Euro traders went back and forth during the session on Wednesday trying to figure out what will happen to the US economy and monetary policy now that Democrats control all three branches of government.

The EUR/USD rallied in the overnight session after the Democrats took control of the Senate and after the weak private employment numbers.

The BTC/USD is in an unstoppable rally.

Aussie remains relatively strong.

Sky-high coronavirus numbers in U.K. weakening Pound

The GBP/USD pair is under pressure as the number of coronavirus cases continue to rise, forcing the government to unveil new lockdown measures.

The AUD/USD is hovering near its highest level since April 2018 after the relatively strong Service PMI data from Australia and China were released.

Before going into the New Year’s holiday, silver traversed a quiet path near support levels which were intriguing.

The USD/MXN continues to traverse near critical support.The USD/MXN continues to traverse near critical support.

The USD/JPY has endured a long bearish trend and its value today is hovering above critical support levels.

The USD/INR has bounced off of low water marks and reversed higher short term, but the Forex pair has not steered too far away from support levels, which are still acting as legitimate targets.

At this point, the market is likely to see a bit of relief if we do get a certain amount of stalemate in the US government, which of course would be the case if the Republicans can continue to hang on to the Senate.

The South African rand lost quite a bit of strength during the trading session on Tuesday to reach towards the 15.00 level.