Forex Daily Forecast, Analysis and Prediction

India is on course to overtake the US as the most-infected Covid-19 country globally, as it reports over 80,000 infections daily,

The sharp and continuous EUR/USD selling since the end of last week’s trading pushed it towards the 1.1691 level, its lowest level in two months, before settling around 1.1705 at the time of writing.

The bearish momentum for the gold price is still the strongest in light of the strong buying operations of the US dollar, which moves inversely with the path of gold prices.

Yesterday, the British government announced a number of new and comic restrictions in some places on the freedoms of companies and families, while it says that they are precautionary measures to contain an increasing second wave of Coronavirus infections.

For the third day in a row, the price USD/JPY is trying to correct upwards, but gains of the bounce did not exceed the 105.07 resistance.

The USD/ARS continues to trade within a death spiral.

After testing important support levels in early September the USD/INR has produced incrementally bullish trading the past couple of weeks.

Speculators should treat the USD/SGD with respect near term.

The USD/ZAR has once again proven that its trading range can produce reversals when important support levels have been activated and risk appetite decreases.

AUD/USD: Aussie hit hard

Mexico breached the 700,000 level in confirmed Covid-19 infections with the death toll approaching 75,000.

Brazil continues to report an increased number of new Covid-19 infections, while the number is forecast to rise.

USD/JPY: Long-term double bottom at 104.00 possible

The US dollar has rallied significantly during the trading session on Tuesday to show signs of resiliency.

The bitcoin market has dipped slightly during the trading session on Tuesday, as we continue to see a lot of confusion.