Forex Daily Forecast, Analysis and Prediction

South Africa crossed the 100,000 level in Covid-19 infections yesterday, as global daily cases continue to surge globally

Important resistance was tested by the USD/BRL late on Monday but has seen a bit of a reversal the past few hours.

The Indian Rupee has broken through important support levels and speculators may be looking at targets below as they build confidence about the trend of the USD/INR.

The narrow range of the Malaysian Ringgit continues to be attractive for short term traders.

GBP/USD: Bulls and bears fighting over price channel

EUR/USD: Weak bearish turn looks doubtful

Bitcoin markets have initially fallen during the trading session on Monday when we got back to work, but as you can see, we have turned around to show signs of strength again.

The silver markets initially tried to rally during the trading session on Monday as traders get back to work, but the $18 level has proof of supply, as we have pulled back quite a bit and shown quite a bit of resistance.

Gold markets gapped higher to kick off the week, then pulled back to fill the gap and then rallied again before pulling back yet again.

The West Texas Intermediate Crude Oil market initially gapped lower to kick off the trading session on Monday, but as you can see we continue to reach towards the $41 level above.

After several attempts in which gold prices tried to bounce upward.

The pressure on the single European currency increased with the failure of European leaders to reach a deal to revive the European economy along with the increasing numbers of deadly coronavirus infection with the reopening of the global economy, which brought the US currency momentum to move the EUR/USD to the 1.1168 support.

The US dollar’s strength and the rush to it as a safe haven with the return of investors’ fears from increasing pressure on the global economy from the start of second wave of the Coronavirus outbreak, contributed to new downward pressure on the GBP/USD and the 1.2343 support and closed last week's trading at that level.

After two weeks in a row, during which the Japanese yen managed to achieve strong gains against other major currencies, the price of the USD/JPY currency pair, surged towards the 106.66 support, before it closed last week's trading around the 106.88 level.

AUD/USD: Possible short trade entry signal