Forex Daily Forecast, Analysis and Prediction

Risk-on sentiment recovering firmly.

Bullish acceleration beyond price channel.

For three trading sessions in a row, the EUR/USD pair is trying to rebound higher in light of the pressure on the US currency, which awaits the final results of the dramatic US elections.

In a surprising move, the Bank of England announced that the date of announcing its monetary policy decisions was unusually early today.

Instability and cautious anticipation is what characterizes the gold performance in recent trading sessions, as the yellow metal awaits the final results of the US presidential elections.

The bears continued the stronger control over the USD/JPY performance, as markets were still facing the unknown about the winner of the US presidential elections.

The Brazilian real has endured a significant bullish trend against the USD since the 18th of September.

Both currencies subject to strong volatility.

The USD/TRY has exhibited the ability to prove bearish sentiment can create downward reversals within the forex pair the past day.

While the short-term attention remains on the outcome of the 2020 US presidential election, which could take days if not weeks to determine, the second wave of the COVID-19 pandemic gathers pace across Germany, Europe as a whole, and the US.

With Mexico on course to become the latest country with over 1,000,000 confirmed Covid-19 infections, the short-term focus remains on s clear outcome from the 2020 US presidential election.

The sustained range of the USD/ZAR delivered a near perfect technical scenario yesterday.

The USD/INR hit the 75.000 level yesterday as the forex pair was hit with strong volatility and global risk sentiment became extremely nervous.

Bears likely to have small edge today.

The West Texas Intermediate Crude Oil market has initially fallen during the trading session on Wednesday, only to turn around and rally again towards the 50-day EMA.