Forex Daily Forecast, Analysis and Prediction

The USD/SGD has begun to show signs that its value may be reaching an accepted equilibrium and has demonstrated a rather tight range recently.

With India on course to breach 10,000,000 COVID-19 cases before the end of 2020, and after it entered its first recession since record-keeping began, S&P Global Ratings confirmed its 9.0% GDP contraction forecast for the 2020-2021 fiscal year.

Unlike most of its developed counterparts, New Zealand has control over the COVID-19 pandemic, similar to Singapore.

For three trading sessions in a row, the EUR/USD pair stabilized around and above the 1.2000 psychological resistance.

For the second month in a row, the British pound continues to achieve gains from optimism regarding a Brexit trade deal.

The price of gold surprisingly moved higher during yesterday's session.

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

Yesterday, the GBP/USD broke the strong 1.3400 resistance point after reaching it several times.

The AUD/USD went up at the beginning of trading today, following comments by the Australian Central Bank's Governor after a day of fixing interest rates, in which he said he expected strong economic growth.

Price still seems unlikely to break $20k yet.

2.5-year high price is well above 1.2000.

The S&P 500 had an explosive session during the trading day on Tuesday as it continues to press all-time highs.

Gold markets are looking strong after breaking above the 200-day EMA again on Tuesday, and after the US dollar got absolutely hammered.

Silver markets rallied significantly during the trading session on Tuesday, reaching towards the 50-day EMA.

The West Texas Intermediate crude oil market pulled back a bit during the trading session on Tuesday, as we wait to see whether or not OPEC will continue production cuts.