Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied during the trading session on Wednesday, but we are still below the 3600 level, an area that has been a significant structural and psychological barrier.

Head & shoulders pattern breaks down

The gold markets have dropped a bit during the trading session on Wednesday, testing the $1850 level yet again.

The silver markets are still fluctuating during the trading session on Wednesday, just as we saw the markets calm down after the massive selloff on Monday.

The Bitcoin market has shot higher again during the trading session on Wednesday, reaching towards the $16,000 level.

The British pound initially tried to rally during the trading session on Wednesday, but then turned around to fall from the 1.33 level.

The euro initially tried to rally during the trading session on Wednesday but gave back the gains to turn around and fall towards the 50-day EMA.

Medium-term bullish trend in some danger.

Lopsided consolidating triangle pattern holding.

In an exciting performance since the beginning of this week's trading, the EUR/USD moved in light of optimism about Biden's victory in the American elections and the announcement of a possible coronavirus vaccine.

For seven trading sessions in a row, the GBP/USD pair was in an upward correction range with a distinguished performance.

Gold prices dropped by more than $100 at the beginning of this week’s trading.

The USD/JPY had a distinguished performance at the beginning of this week.

The USD/MXN has sustained its price range after a flurry of bearish momentum took the forex pair to lower depths following the results of the US election.

Speculators face a tough decision regarding the USD/ZAR in the short term.