Forex Daily Forecast, Analysis and Prediction

Ahead of the European Central Bank meeting scheduled for Thursday, there are expectations that the bank may direct a state of unease with the Euro gains in the exchange market and amid new strict restrictions for European countries to contain records of Coronavirus cases.

Cautious stability for the GBP/USD performance, maintains its movement above the 1.3000 resistance.

More restrictions from countries around the world to contain a second massive wave of the Coronavirus spread have increased investors' appetite towards safe havens

The flight from risk was ideal for the price of gold to move higher and reach $1911 an ounce at the time of writing.

USD/JPY: Price approaching multi-month low at 104.00

BTC/USD: Long-term bullish trend advancing

The USD/INR tested higher resistance targets on Monday above 74.0000 and then produced a reversal lower which promptly tested support levels around the 73.6300 mark.

The USD/ZAR has produced a tight consolidated range, but also tested significant support near the 16.10000 juncture.

The USD/MXN tested important support levels near the 20.84000 early this week, but has seen a slight reversal emerge higher.

The DAX Index has been hit with a severe plunge downward again this morning.

GBP/USD: Pound is stronger than the Euro

EUR/USD: European coronavirus worried making negative impact

Early criticism over the handling of the first wave of the Covid-19 crisis in Sweden remains, but some European countries started to implement a light Swedish-like approach to the second wave of the pandemic.

Singapore maintains control over the Covid-19 pandemic, primarily due to a highly disciplined public, unlike the US and Europe, where many ignore public health guidelines.

The Euro has gone back and forth during the trading session on Tuesday, reaching towards the 1.1840 level before pulling back again.