Forex Daily Forecast, Analysis and Prediction

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.

Clearly, the USD/JPY performance is determined to end the 2020 trading year on a bearish note.

BTC/USD has taken on the look of an equity index as it produces massive moves which have its believers singing its praises and speculators contemplating if they can still join the party.

The USD/ARS continues to produce a solemn and disastrous one-way direction in which the Argentine peso bleeds value.