Forex Daily Forecast, Analysis and Prediction

Gold prices settled higher at the beginning of this week’s trading, despite gains being modest, as optimism regarding the fiscal stimulus law limited the bullishness of the yellow metal.

Brexit optimism remains cautious and hence, GBP/USD gains stem primarily from the weakening of the US currency.

For more than two weeks in a row, the pair attempted to rebound higher, but gains did not cross the 106.10 resistance.

Hans Kluge, the Regional Director of the World Health Organisation (WHO) for Europe, warned against Covid-19 fatigue by the population, which according to the latest data, reached over 60%.

South Africa will report its 700,000th Covid-19 infection this week and has nearly 51,000 active cases.

AUD/USD: Weaker Australian Dollar

USD/JPY: Consolidation likely to persist

BTC/USD: $11,460 resistance breaks

The US dollar has initially gapped higher against the Japanese yen but then broke down towards the ¥105.25 level underneath.

The bitcoin market rallied significantly during the trading session on Monday to kick off the week, as we are well above the $11,000 level.

The Euro went back and forth during the trading session on Monday, initially gapping lower before going back and forth.

The NASDAQ 100 has exploded to the upside during the trading session on Monday, breaking above the 12,100 level by the end of the day.

The S&P 500 has gone straight up in the air during the trading session on Monday, as we continue to see the market look at the stimulus with wild eyed abandon

The silver markets initially tried to push higher during the trading session on Monday but gave back quite a bit of the gains in order to form a bit of a shooting star.

The DAX Index has enjoyed a bullish trend upwards as global risk appetite has increased sufficiently the past week.