Forex Daily Forecast, Analysis and Prediction

Euro continues to grind ahead of ECB decision

With the inauguration of President Joe Biden and the end of the Trump era, which had brought unprecedented economic success to the US, the USD still received some support, though likely temporary.

Notable that AUD is not leading the “risk” currencies.

With the inauguration of US President Joe Biden, the US dollar gained some support and gains against the rest of the other major currencies.

Price hits new 2.5-year high above 1.3700

Few companies have achieved the global renown that Tesla (NYSE: TSLA) has achieved in only thirteen short years since its founding.

The Nikkei 225 opened with a spike higher this morning, but was promptly sold off with a reversal lower.

ETH/USD recorded record highs yesterday and the cryptocurrency is gaining more attention.

The USD/MXN has begun to demonstrate an ability to sustain lower values, which are also important long-term support levels.

The start of trading this year for the USD/INR has produced choppy waters, but the Forex pair in the last week has begun to also trade in a manner similar to the past three months.

Gold prices rose again and stabilized around $1855 as of this writing

Despite the recent strength of the US dollar, the GBP/USD pair rose to stabilize around the 1.3670 level as of this writing.

The US dollar fell against most other major currencies as risk sentiment improved in the market amid hopes of further economic stimulus.

For the second day in a row, the EUR/USD pair is trying to correct to the upside, having stabilized around the 1.2155 resistance level as of this writing.

The euro rallied significantly during the trading session on Tuesday as we bounced from the 50-day EMA.