Forex Daily Forecast, Analysis and Prediction

In the last hours of 2020 trading, the price of gold received support from investors abandoning the US dollar, which usually has a negative correlation to the yellow metal.

The year 2020 was one of extreme volatility for the GBP/USD pair.

The global recession caused by COVID-19 saw the bolstering of save-haven currencies, the most prominent of which was the USD.

The currency pair began trading in 2021 with a positive attitude, but is still cautious as the pandemic rages on.

The DAX Index has begun its trading in 2021 with a gap higher followed by a cautious slight trend downwards as traders seemingly await more impetus.

The USD/BRL will return to full trading volume soon and this will test speculative positions quickly.

The USD/MXN has sustained its value below the 20.00000 level and has continued to incrementally lower resistance levels.

The USD/INR hit new short-term lows early today as its bearish trend refuses to vanish.

The West Texas Intermediate crude oil market did very little during the trading session on Thursday, which was expected due to thin volume and a short day.

The Australian dollar rallied initially during the trading session on Thursday in what had been a very strong move early in the session.

The USD/ZAR pair pierced the 14.50 level during the trading session on Thursday, but then turned around to show signs of strength as a bit of profit-taking occurred.

Bitcoin markets fluctuated during the trading session on Thursday, but then rocketed to the $34,800 level yesterday.

The S&P 500 rallied a bit during the trading session on Thursday, as we continue to see plenty of buying pressure overall.

The NASDAQ 100 did very little during the trading session on Thursday, but that should not be a surprise considering it was New Year’s Eve and there was a lack of volume.

Gold markets rallied a bit during the trading session on New Year’s Eve, as the market is trying to break above a major trendline.