Forex Daily Forecast, Analysis and Prediction

The DAX Index opened with positive momentum this morning taking advantage of recent climbs that have brought the 13000.00 value target back into view for speculators.

The ability of the USD/MXN to trade lower and test support early yesterday was tested by two temporary reversals higher.

The USD/BRL remains within the higher plateaus of its mid-term range, but significantly the forex pair has shown the ability to incrementally lower resistance levels above via technical charts.

AUD/USD: relatively weak on lower rate outlook

USD/JPY: Finally trading above 106.00

Despite the out-of-control Covid-19 pandemic across India, which leads the world in new daily infections, economic indicators point towards an ongoing post-lockdown recovery.

With new Covid-19 infections trending higher globally, Singapore maintains control over the pandemic, for now.

The US dollar has struggled with the 50 day EMA against the Japanese yen for some time, and the Tuesday session was no different.

The NASDAQ 100 has fallen a bit during the trading session on Tuesday, mainly due to the fact that the president of the United States tweeted that he was telling negotiators to step away from negotiating stimulus.

The South African Rand initially tried to rally against the US dollar during the trading session on Tuesday but gave back the gains as we dug into the hammer that the US dollar formed against it on Monday.

The Australian dollar initially tried to rally during the trading session on Thursday as we continue to see a lot of noise in general.

BTC/USD: Pivotal point likely at $10,641

The S&P 500 initially tried to rally during the trading session on Tuesday, pulling back from the 3400 region.

GBP/USD: Pound is not advancing as a leader

The silver markets have pulled back from the 50 day EMA again on Tuesday to reach down towards the $24 level.