Forex Daily Forecast, Analysis and Prediction

Gold markets have fluctuated during the trading session on Tuesday, as the $1900 level continues to be a magnet for price.

The silver markets initially tried to rally during the trading session on Wednesday but found some resistance above the 50-day EMA, slicing lower, and then turned around again.

Bitcoin markets initially pulled back during the trading session on Wednesday, as election night jitters moved the market back and forth.

The Australian dollar has been all over the place for the last 24 hours, as the US elections have been a roller coaster ride.

The US dollar has fluctuated during the trading session on Wednesday, as the US election has caused volatility.

Volatile swing from this risk barometer

As expected, the forex trading market may witness a state of instability until the official announcement of the US presidential election results.

The risk appetite amid expectations of Biden's victory in the US elections contributed to a temporary upward rebound in the GBP/USD pair, reaching the 1.3140 resistance in early trading Wednesday.

The decline of the US dollar allowed the gold price to correct upwards, reaching $1916 an ounce in early trading Wednesday.

After eight trading sessions in a row, the USD/JPY pair remained stable below the 105.00 support with strong bearish momentum.

The DAX Index has reflected global investor sentiment early today as equities react to the US election and its unknown outcome.

$14,058 looks pivotal today.

The USD/MXN has experienced a broad range early this morning as forex responds to the rampant nervousness being expressed in the global markets.

A large volatile range has been seen in early USD/SGD trading this morning as financial institutions prove nervous.

With South Africa trying to tackle its massive army of unemployed, President Cyril Ramaphosa readies his South African Economic Reconstruction and Recovery Plan.