Forex Daily Forecast, Analysis and Prediction

A state of volatility dominates the GBP/USD performance in the last trading sessions, as with the exploitation of the USD decline and the optimism of the European agreement.

Constant pressure on the US dollar and a distinct optimism due to announcing the European stimulus plans, contributed to increasing the pace of gains for the EUR/USD pair,

In an impressive performance, the price of an ounce of gold continuously and steadily achieves gains, as it reached the $1874 resistance at the beginning of today’s trading, its highest level in nine years.

There is no escape of bears dominating the USD/JPY performance.

The USD/BRL has proven capable of maintaining its short term bearish trend, and trading the past twenty-four hours which has established support levels may continue to be tested.

AUD/USD: New 1-year high prices again yesterday

Speculators who believe the USD/NOK will continue to test seemingly vulnerable support levels cannot be faulted for selling the US Dollar against the Norwegian Krone.

USD/JPY: Flat as both currencies act as safe havens

As global risk appetite continues to remain steady and equity indices maintain an optimistic sentiment, the USD/INR has lingered near important support levels.

BTC/USD: Bulls finally overcoming key resistance hurdles below $10,000

The peaceful waters of the USD/PKR should be enjoyed while its rather short term consolidated range perhaps calms speculators.

GBP/USD: Looking to breakout beyond 1.2750

Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), the country’s central bank, cautioned that the economy remains in a dire state due to the Covid-19 pandemic.

Mexico is on course to overtake Peru as the sixth-most infect Covid-19 country this week.

The Euro has rallied significantly during the trading session on Wednesday, reaching towards the 1.16 level where we had seen a bit of resistance.