Forex Daily Forecast, Analysis and Prediction

Global Covid-19 cases surpassed two million, and the US the epicenter of the virus, accounting for roughly one-third of all infections.

Oil prices may have reached a bottom after OPEC+ announced an unprecedented supply cut of 9.7 million barrels per day,

After a series of failed meetings between Eurozone finance ministers, highlighting deep divisions, and lack of unity within the currency union,

GBP/USD: Bulls have possible small edge

EUR/USD: Strong support above 1.0832

The US dollar has initially pulled back a bit to kick off the trading session on Wednesday, reaching towards the ¥107 level.

The NASDAQ 100 fell during a large portion of the trading session on Wednesday but do pull back a bit to recapture some of the losses.

The S&P 500 has fallen a bit during the trading session on Wednesday, as we continue to hang about the crucial 50% Fibonacci retracement level.

The Euro broke down rather significantly during the trading session on Wednesday but did bounced significantly to recover quite a bit of the losses.

The British pound has pulled back during the trading session on Wednesday, breaking well below the 1.25 handle before bouncing a bit.

The Australian dollar formed a very negative candlestick during the trading session on Wednesday, and now looks likely to break down from the 61.8% Fibonacci retracement level.

The USD has rallied against the INR during the trading session but unlike the previous candles over the last couple of weeks, the wick is much shorter.

The silver markets pulled back a bit during the trading session on Wednesday, as the $16 level has offered so much in the way of resistance.

The West Texas Intermediate Crude Oil market has plunged during the trading session on Wednesday, as the markets have broken through the $20 level.

The gold markets have fallen a bit during the trading session on Wednesday, pulling back towards the $1732 level, before finding buyers to turn around and form a little bit of a hammer.