Forex Daily Forecast, Analysis and Prediction

The EUR/USD had cautious performance during last week's trading as gains reached the 1.1894 resistance before closing, stabilizing around 1.1858.

Despite the failure of the European Union and Britain to resolve the contention points between them, the GBP/USD pair has strongly benefited from investors' risk appetite and abandonment of the dollar as a safe haven amid the announcement of coronavirus vaccines.

Gold prices rose to $1880 an ounce by the end of last week's trading, despite the uncertainty about the rapid financial stimulus in the United States amid rising COVID-19 infections and despite the stronger dollar.

It seems from the USD/JPY's last three trading sessions on the daily chart that bearish exhaustion is taking the pair to stronger descending levels.

Double top at 0.7340 in view.

Speculators who enjoy a solid rocket ride filled with danger are encouraged to wager on BTC/USD short term.

Distributive topping is a potential danger to bulls.

The USD/BRL has produced choppy conditions during the past few days of trading.

The USD/ZAR may scare short-term speculators.

Before going into the weekend, the USD/SGD managed to sustain its bearish trend without suffering any snap reversals higher before Forex markets closed.

With the second wave of the COVID-19 pandemic intensifying, more countries announced nationwide lockdowns to avoid the total collapse of an ill-equipped healthcare system that struggled with the seasonal influenza virus in addition to the coronavirus.

Since Pakistan lacks proper COVID-19 testing capabilities, the official statistics place the world’s fifth-most populous country further down the list than actual conditions warrant.

British pound is one of the strongest major currencies.

There is long-term resistance around 1.1900/1.2000 above.

The silver market fluctuated during the trading session on Friday as we continue to see a lot of overall back and forth.