Forex Daily Forecast, Analysis and Prediction

The risk appetite amid expectations of Biden's victory in the US elections contributed to a temporary upward rebound in the GBP/USD pair, reaching the 1.3140 resistance in early trading Wednesday.

The decline of the US dollar allowed the gold price to correct upwards, reaching $1916 an ounce in early trading Wednesday.

After eight trading sessions in a row, the USD/JPY pair remained stable below the 105.00 support with strong bearish momentum.

The DAX Index has reflected global investor sentiment early today as equities react to the US election and its unknown outcome.

$14,058 looks pivotal today.

The USD/MXN has experienced a broad range early this morning as forex responds to the rampant nervousness being expressed in the global markets.

A large volatile range has been seen in early USD/SGD trading this morning as financial institutions prove nervous.

With South Africa trying to tackle its massive army of unemployed, President Cyril Ramaphosa readies his South African Economic Reconstruction and Recovery Plan.

India remains the second-most infected country with COVID-19 globally and the third-highest with active cases and the total death toll.

The USD/PKR may prove enticing to short-term speculators who are looking for a forex pair which may not be affected too much by the outcome of the US elections.

Volatility due to U.S. election toss-up

Volatility due to close call in U.S. Presidential Election

The British pound has rallied during the trading session on Tuesday, as traders started to bet on a quick outcome to the US elections.

The Euro has rallied significantly during the trading session on Tuesday, reaching above the 1.17 level in order to reach towards the 50 day EMA.

The West Texas Intermediate Crude Oil market has rallied during the trading session on Tuesday, as the US dollar was hit.