Forex Daily Forecast, Analysis and Prediction

As of this writing, the USD/INR is near important short-term support and traders need to remain alert.

The GBP/USD pair rose after covering the price gap that occurred at the beginning of last week, but is expected to rebound.

The Bitcoin markets fluctuated during the trading session on Wednesday as we continued to see the $24,000 level offer resistance.

The US dollar fell against the South African rand during the trading session on Wednesday, reaching towards the 14.50 rand level.

The US dollar rallied during the trading session on Wednesday to reach towards the 200-day EMA against the Brazilian real.

The S&P 500 initially pulled back a bit during the trading session on Wednesday but found buyers again as we dipped.

The NASDAQ 100 pulled back slightly during the trading session on Wednesday during very thin trading.

The British pound was very bullish during the trading session on Wednesday as Brexit negotiators are getting close to the end.

Gold markets rallied during the trading session on Wednesday, breaking above the 50-day EMA yet again.

The Australian dollar bounced a bit during the trading session on Wednesday, in what would have been somewhat light volume.

The West Texas Intermediate Crude Oil market had a strong session during the day on Wednesday, in what would have been very thin trading.

The euro rallied significantly during the trading session on Wednesday, reaching towards the 1.22 level before pulling back a bit.

For three trading sessions in a row, the EUR/USD pair has been moving in a downward correction range.

A Brexit deal would mean a good year for sterling in 2021, which is what Forex investors are hoping for, as global financial markets are no longer able to withstand more shocks in the coming year.

Selling operations by investors to close 2020 contracts contributed to stopping gold gains that pushed it at the beginning of this week’s trading to the resistance level at $1907 an ounce.