Forex Daily Forecast, Analysis and Prediction

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.

USD/JPY's loss bleeding didn’t stop, and the pair stabilized around the 103.65 support.

Speculation and being stubborn are two words which do not always meet with a happy outcome in trading.

Experienced traders do not believe in coincidences.

Germany faces significantly more pressure from the second wave of the COVID-19 pandemic and is on track to become the twelfth country to cross 1,000,000 confirmed infections within the next seven to nine days.

Mexico became the latest country to cross 1,000,000 confirmed COVID-19 cases and the eleventh most-infected country globally.

Long-term resistance around 1.1900 / 1.2000 holds.

The US dollar has broken down below the ¥104 level, which is a large, round and psychologically significant figure that has offered support in the past.

The euro initially tried to rally during the trading session on Wednesday but continues to struggle near the 1.19 level.