Forex Daily Forecast, Analysis and Prediction

Silver markets continue to have a lot of noise in them, based upon the fact that the stimulus question continues to be a major issue.

Gold markets initially pulled back just a bit during the trading session on Tuesday, to reach down towards the crucial $1900 level.

After a harsh week in which the EUR/USD was exposed to downward momentum, pushing it towards the 1.1688 support, and with the start of this week’s trading, the pair tried to rebound higher with gains to 1.1793 before settling around the 1.1775 level at the time of writing.

For five trading sessions in a row, gold prices are moving in a limited range between $1883 an ounce and $1919 and stabilizes around $1902 an ounce at the time of writing.

By examining the daily chart of GBP/USD, it seems clear that any chances for the pair to rebound higher would be a selling target, which was always recommended since Britain voted to leave the European Union.

For three trading sessions in a row, the USD/JPY has been moving in a narrow range between the 105.18 support and the 105.60 resistance, where it is stable around at the time of writing.

Germany witnessed a fast acceleration in new Covid-19 infections, while the global pandemic keeps global trade hostage.

Most of the world struggled with the start of a more violent secondary Covid-19 infection wave, but Singapore maintains relative control over the pandemic.

New daily Covid-19 infections in India have eased moderately from its record pace above 70,000 but remain elevated just below 50,000.

While Mexico lacks required Covid-19 testing capabilities, with just over 2,000,000 conducted on a population close to 130,000,000, the government of President López Obrador announced plans to purchase up to 34,400,000 does of a vaccine produced by Pfizer, if it meets specific criteria, this year.

South Africa dropped out of the Top 10 list of most infected Covid-19 countries amid the second wave of infections sweeping across Europe.

AUD/USD: 0.7000 area looking interesting as potential support

The US dollar rallied slightly during the trading session on Monday to kick off the week, as we have broken above the ¥105.50 level but gave back the short-term gains.

The NASDAQ 100 initially tried to rally during the trading session on Monday but found the 12,000 level to be far too resistant.

The bitcoin market has rallied quite nicely during the trading session on Monday, breaking above the $11,700 level at one point during the day.