Forex Daily Forecast, Analysis and Prediction

Gold markets have gapped higher to kick off the trading session on Monday and to start off the new year on the right foot.

The euro gapped higher to kick off the year, showing signs of strength, and then took right off to slam into the 1.23 level by midday.

The British pound initially tried to rally during the trading session on Monday, and even broke a bit higher during the day as it peaked above the 1.37 handle.

The EUR/USD pair is holding steady near its two-and-a-half-year high as traders react to the mixed manufacturing PMI data and the upcoming Georgia runoff election.

The current weakness of Bitcoin price is mostly because of profit-taking after the currency rallied by more than 700% from its lowest level in March.

The long-term bullish trend does not appear to have been significantly impacted by this day’s fall.

In the last hours of 2020 trading, the price of gold received support from investors abandoning the US dollar, which usually has a negative correlation to the yellow metal.

The year 2020 was one of extreme volatility for the GBP/USD pair.

The global recession caused by COVID-19 saw the bolstering of save-haven currencies, the most prominent of which was the USD.

The currency pair began trading in 2021 with a positive attitude, but is still cautious as the pandemic rages on.

The DAX Index has begun its trading in 2021 with a gap higher followed by a cautious slight trend downwards as traders seemingly await more impetus.

The USD/BRL will return to full trading volume soon and this will test speculative positions quickly.

The USD/MXN has sustained its value below the 20.00000 level and has continued to incrementally lower resistance levels.

The USD/INR hit new short-term lows early today as its bearish trend refuses to vanish.

The West Texas Intermediate crude oil market did very little during the trading session on Thursday, which was expected due to thin volume and a short day.