Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 broke out during the trading session on Tuesday as the US dollar has gotten absolutely hammered.

The euro broke above the 1.20 level during the trading session on Tuesday as a major barrier has now been broken through.

The US dollar rallied initially during the trading session on Tuesday but gave back the gains in order to form a shooting star.

The Australian dollar rallied a bit during the trading session on Tuesday, as we continue to consolidate quite a bit.

The Brazilian real strengthened during the trading session on Tuesday to reach down towards the 200-day EMA.

The British pound rallied significantly during the trading session on Tuesday to break above the 1.34 level which has been resistance over the last week or so.

Trading in the DAX Index opened again this morning with a flourish of fast trading, as a low was tested and then the ability to demonstrate a spike upwards quickly was displayed.

Coffee is near important resistance levels which have produced a sharp reversal downwards in the middle of November.

Speculators of the USD/MXN may becoming impatient with the Forex pair as it hovers near important support levels as trading remains cautious.

The GBP/USD is still holding up against very strong resistance at the 1.3400 level, and is trying to break through.

Instability has dominated the GBP/USD's performance in recent sessions due to investor optimism regarding coronavirus vaccines.

Gold sold off amid dominant risk appetite in the markets after the announcement of pending coronavirus vaccines.

Ahead of an important testimony by Federal Reserve Governor Jerome Powell, the USD/JPY is trying to correct upwards, but with limited gains that reached the 104.35 level at the time of writing.

Trading in the USD/INR has been fast this morning and it may continue short term.

Price looks unlikely to break $20k yet.