Forex Daily Forecast, Analysis and Prediction

With the continued pressure on the US dollar, gold had the opportunity to move higher and reach the $1883 resistance.

A last-minute agreement was signed between the European Union and Britain before the Christmas holiday, causing positive sentiment in the trading of the pound against the rest of other major currencies.

The USD/JPY's performance will likely continue to falter throughout the last trading hours of 2020 in a bullish correction.

For four trading sessions in a row, the EUR/USD currency pair was exposed to limited selling operations that pushed it towards the 1.2130 support before settling around the 1.2185 level at the beginning of the year's last week of trading.

After demonstrating a rather solid bearish trend since late October and touching low values in the middle of December, the USD/BRL has seen slight bullish momentum develop.

The USD/ZAR has re-established its bearish trend with relative ease and key support levels are being hovered over as the value of the Forex pair remains near the 14.57000 ratio early this morning.

A tight range has emerged in the often volatile USD/PKR as support and resistance levels have proven rather strong.

The USD/SGD has reversed lower and has again demonstrated that its bearish trend remains a force.

The euro rallied a bit during the trading session on Thursday, to reach towards the 1.22 handle.

The British pound initially spiked higher during the trading session on Thursday as Boris Johnson and Ursula von der Leyen crossed the finish line.

The Indian rupee rallied against the US dollar during the trading session on Thursday.

The West Texas Intermediate Crude Oil market fluctuated during the trading session on Thursday, in what would have been a shortened session driven by Globex trading.

The DAX Index initially drifted lower during the trading session on Thursday but found enough buying pressure to turn things around and reach towards the 13,584 level by the time we closed.

Support at $26,012 looks pivotal.

Gold markets rallied during the trading session on Thursday, heading into the Christmas season.