Forex Daily Forecast, Analysis and Prediction

The British pound rallied quite significantly during the trading session on Thursday, heading into the Jerome Powell speech.

The silver markets initially rally during the trading session on Thursday only to turn around and fall rather drastically.

The pressure returns on the USD in anticipation of Jerome Powell’s important statements today.

The USD/MXN is trading near important support levels and has been able to sustain its rather solid bearish trend which has developed since early August.

Turkey has relative control over the Covid-19 pandemic, but the Turkish Lira continues to reach all-time lows versus the US Dollar, despite intensifying bearish pressures on it.

Brazil continues to record over 40,000 new Covid-19 infections daily, trailing only the US in the total count, which recorded over 6,000,000 cases.

The USD/ZAR has traded within a tight value band the past couple of days after seeing its bearish trend gain impetus early this week.

After demonstrating a sudden selling spike downwards early this week and reestablishing its bearish trend the USD/INR traded with plenty of sideways price action.

The USD/SGD bearish trend resumed soundly the past two days of trading and is again approaching critical support junctures.

Silver markets have rallied quite nicely during the trading session on Wednesday after initially dipping.

The Australian dollar rallied again during the trading session on Wednesday, as we have pressed the 0.7250 level yet again.

The British pound rallied again towards the 1.32 level during the trading session on Wednesday, an area that has caused some problems.

The GBP/USD currency pair is trying to reap more gains from the pressure on the US currency.

The USD/CHF tested important support levels last week when the 0.90100 came into sights.

After testing important support yesterday, the USD/MYR has seen some buying emerge, however, the forex pair remains comfortably within its pronounced bearish trend.