Forex Daily Forecast, Analysis and Prediction

The Pakistani Rupee touched vital resistance in early trading today and its overall trend appears weak as the currency continues to loss value to the US Dollar.

AUD/USD: Weak bullish breakout from channel not impressive

Yesterday's trading session was harsh for USD/JPY, as investors strongly abandoned the US dollar,

The weakening of the US dollar, along with the positive results of the European economic data, helped the EUR/USD to correct upwards to the 1.1348 resistance

USD/JPY: Bullish reversal from long-term low

Strong weakness of the US dollar and fears of a second wave of the Coronavirus outbreak was enough to push the price of an ounce of gold towards the $1774 resistance

GBP/USD attempts to bounce back upward are still weak despite the decline in the US dollar, as gains did not exceed 1.2542 before settling around 1.2520

Covid-19 infections continue to rise, with North and South America accounting for the most significant increase.

India’s Chief Economic Adviser Krishnamurthy Subramanian continues to believe the economy is on track for a V-shaped recovery, irrelevant of what developments take place.

BTC/USD: Bullish bounce from support looking likely

Following the testimony of Dr. Anthony Fauci, the Director of the National Institute of Allergy and Infectious Diseases (NIAID) and member of the White House Covid-19 taskforce, to Congress yesterday, the US Dollar came under selling pressure.

The S&P 500 broke down a bit during the trading session on Tuesday, reaching down towards the 3050 handle before finding buyers to form a bit of a hammer.

Silver markets have rallied again during the trading session on Tuesday, as we have crossed above the $18 level.

The West Texas Intermediate Crude Oil market has reached towards the $41 level before pulling back slightly.

Brazil became the second country to register over 50,000 deaths related to the Covid-19 pandemic behind the US.