Forex Daily Forecast, Analysis and Prediction

Direction in the Forex market looks unclear.

Good buying opportunities remain below the current price level.

The USD/JPY's continued bearish performance pushed it towards the 107.87 support, a near 2-month high, before settling around the 108.25 level as of this writing.

After profit-taking helped bring down the price of gold to the level of $1763, and amid pressures on the dollar, the price of gold bounced higher today to the $1788 resistance.

The GBP/USD bounced back to the 1.4000 psychological resistance level before settling around the 1.3910 support level as of this writing.

After the recent bullish waves of the EUR/USD, which pushed it towards the 1.2080 resistance level, the pair is stabilizing around the 1.2030 level as of this writing.

The USD/CAD has produced a solidly consistent choppy swirl of trading the past month and short-term speculators may find a chance to wager.

The USD/BRL remains within the midst of a value range which is consolidated and offers traders with patience an opportunity to speculate.

The USD/ZAR remains transfixed within the lower depths of its value range, but a tight range the past few days of trading has emerged.

The USD/INR is testing long-term resistance levels as concerns regarding a resurgence of coronavirus in India have spooked traders.

The DAX Index broke down significantly during the trading session on Tuesday as coronavirus figures continue to plague not only the European Union, but other places around the world, spooking investors.

The FTSE 100 fell rather hard during the trading session on Tuesday to reach down towards the breakout point of the previous ascending triangle.

The West Texas Intermediate Crude Oil market initially took off during the trading session on Tuesday, but then pulled back rapidly as European traders began to worry about increasing numbers of coronavirus infections in other parts of the world.

The markets continue to look very volatile, and I think you have plenty of time to wait for some type of buying opportunity.

The S&P 500 pulled back a bit during the trading session on Thursday as we may have gotten a little bit ahead of ourselves.