Forex Daily Forecast, Analysis and Prediction

The strength of the US currency pushed the gold price to retreat towards $1925 an ounce in early trading of Thursday, before stabilizing around the $1945 at the time of writing.

According to the trading strategy, which has always been recommended, to sell the GBP/USD currency pair from every ascending level, the pair abandoned its highest levels during 2020 trading.

Despite the strength of the US dollar against other major currencies, the bounce gains for the USD/JPY did not exceed the 106.21 level around the time of writing.

The EUR/USD has been displaying a solid bullish trend mid-term, and the price action within the forex pair the past two days demonstrates it can actually produce volatility.

The tight trading range of the USD/INR fell apart yesterday as resistance proved vulnerable and bullish sentiment dominated.

The Pakistani Rupee is challenging important resistance in early trading today.

After producing a slight and comfortable bearish trend for the past week, the USD/ZAR finally broke through support near 17.25000 yesterday and challenged the 17.11000 mark briefly.

AUD/USD: Support at 0.7139 likely to hold

USD/JPY: Yen still has some strength as a safe haven

Indonesia has a comparably low Covid-19 infection count with 529 confirmed cases per 1,000,000, but total testing capacity remains insufficient with just 6,991.

Mexico started to witness a gradual decrease in new daily Covid-19 infections but is distant from claiming control over the pandemic.

BTC/USD: Support at $11,649 looks strong

GBP/USD: Finding support at 1.3072?

EUR/USD: Support at 1.1827 looks pivotal

The gold markets have broken down significantly during the trading session on Wednesday, slicing through the $2000 level.