Forex Daily Forecast, Analysis and Prediction

GBP/USD: Pound is outperforming the Euro

The gold market fell rather hard during the trading session on Wednesday, even as the US dollar lost a bit of strength.

EUR/USD: Strong resistance holding at 1.1775

The West Texas Intermediate Crude market rallied a bit after initially falling on Wednesday, but at this point in time, we have established that the market has nowhere to be anytime soon.

The Euro fell a bit during the trading session on Wednesday, as we continue to see a lot of volatility in the markets overall.

The last bounce came after the pair collapsed during last week’s trading to the 1.1612 support, its lowest level in more than two months.

The recent upward correction attempts for the GBP/USD collide with fears of the failure of the last round of negotiations between Britain and the European Union

In recent technical analysis of the gold price expectations, we mentioned that the yellow metal has the opportunity to move towards $1900 an ounce, a level that may provoke more buying and thus pave the way for a retest of the standard resistance levels.

There is no significant change in the USD/JPY for the fourth consecutive day.

The DAX Index has produced two solid days of sideways price action early this week.

The USD/SEK has seen a bullish trend emerge which started in earning on the 1st of September.

The USD/MYR is trading within the middle values of its five-day technical chart.

The USD/MXN is mirroring the mixed sentiment being shown on global indices.

India continues to report the highest number of daily new Covid-19 infections, but one must consider the size of its population, the second-largest behind China.

Out of the Top 10 most-infected Covid-19 countries, South Africa reports the lowest new daily cases, which drop below 1,000 during some days.