Forex Daily Forecast, Analysis and Prediction

The GBP/USD broke the ascending triangle pattern and the lower triangle boundary, which technically indicates a downtrend after retesting the broken trend.

The DAX Index managed to produce an early gap lower this morning without wrecking the high water marks it accomplished late last week.

The USD/BRL has witnessed a rather consolidated price range the past couple of days as volumes in Forex disappeared due to the lack of participation from US financial institutions.

The USD/MXN has displayed a rather choppy trading range the past few days and support levels were certainly tested.

The USD/PKR remains slightly above key support levels as the week begins and speculators weigh their perceptions.

Business optimism across South Africa expands as the COVID-19 pandemic continues to pose a significant threat globally.

While the COVID-19 pandemic continues to depress global economic activity, India entered a recession after printing a 7.5% drop in GDP in the third quarter of 2020.

The EUR/USD currency pair achieved stronger gains as it jumped to the 1.1963 resistance, its highest level in three months, and closed last week's trading around there.

In contrast to other major currencies’ performance, the GBP/USD currency pair moved lower towards the 1.3288 support during last Friday's session and closed the week’s trading around the 1.3308 level.

Rise running out of steam at $18,674?

Strong resistance just overhead at 1.2000.

Throughout last week’s transactions, the price of gold was in a continuous decline.

The US dollar has been selling off in the Forex market, as investors abandon it as a safe haven amid news of coronavirus vaccines and Trump’s initiation of a transition to Biden.

The British pound initially tried to rally during the course of the session on Friday, but then broke down to reach towards the 1.33 handle.

The euro rallied again during the trading session on Friday, but remember that many people are away from their desks the day after Thanksgiving.