Forex Daily Forecast, Analysis and Prediction

The Australian dollar went back and forth during trading on Thursday as we continue to see a lot of questions out there.

Silver markets remain very quiet after the session on Thursday, as we are sitting just below the 50 day EMA.

Bitcoin markets initially pulled back during the trading session on Thursday, but then turned around to break above the $16,000 level yet again.

Gold markets rallied just a bit during the trading session on Thursday as we continue to see the market grind sideways just above the $1850 level.

For the second day in a row, the EUR/USD currency pair is witnessing profit-taking selling after a bullish jump at the beginning of the week’s trading.

The recent performance of the pound in the Forex market contributed to a strong upward momentum for the GBP/USD pair, which moved towards the 1.3313 resistance, its highest in over two months.

Stalled gains in the US dollar and global stock markets contributed to the rebound in gold price from its lowest levels in five weeks at $1851 an ounce to $1890 an ounce.

As expected, the USD/JPY performance is in a narrow range during the American holiday of Veteran's Day.

0.7248 holding gives some hope for bulls.

The DAX Index has a habit of causing bedlam in early trading.

Consolidating triangle breaks up

The USD/BRL has seen a fairly consolidated range emerge the past two days as its current price hovers over mid-term support levels which have proven difficult to puncture lower with sustained trading.

Pound retains long-term strength

In early trading this morning, the USD/TRY continues to sustain its price near an important support level which was last tested the third week of October.

When trades go wrong speculators will often search for explanations.