Forex Daily Forecast, Analysis and Prediction

The USD/ZAR has enjoyed a solid bearish trend and, in early trading today, the Forex pair is hovering near an important support level.

The USD/PKR has enjoyed a solid bearish trend, but after hitting key support levels last week, the Forex pair did reverse higher.

While new daily COVID-19 infections soar around the world during the second wave of the pandemic, optimism increases over an economic recovery.

Germany is on course to become the twelfth country to surpass 1,000,000 confirmed COVID-19 infections.

The Australian dollar fluctuated against the US dollar, although the pair continued its general bullish trend.

USD/GBP is in an ascending triangle.

After a bearish start, the EUR/USD pair returned to rebound higher and succeeded in testing the 1.1910 resistance before settling around 1.1890 at the time of writing.

Recent GBP/USD bounce gains were capped by the move up towards the 1.3398 resistance near its three-month high before settling around 1.3345 at the time of writing.

Gold prices are on their way down for the second week in a row as investors chase stocks again following more news of coronavirus vaccines.

For three trading sessions in a row, the USD/JPY pair has been trying to correct to the upside.

An all-time record high price is in sight.

The West Texas Intermediate Crude Oil market has finally broken out of the range that we have been in for some time, and now that we have broken above the $43 level, it looks as if we could continue to go higher.

The euro rallied during the trading session on Tuesday again, reaching towards 1.19 level.

The British pound initially pulled back during the trading session on Tuesday, but continues to find reasons to go higher.

The S&P 500 rallied significantly during the trading session on Tuesday, breaking above the 3630 handle.