Forex Daily Forecast, Analysis and Prediction

Despite the strength of the US dollar against the rest of the other major currencies, gains from the rebound in the USD/JPY, is still limited, reaching the 106.34 level at the time of writing.

For the third day in a row, the EUR/USD has been exposed to a downward correction that pushed it towards the 1.1796 support at the time of writing, with the pair abandoning its highest level in two years when it reached the 1.2010 resistance during Tuesday's trading.

For the second day in a row, the price of an ounce of gold is declining in light of the US dollar recovery, which pushed the price of the yellow metal towards $1927 ounce at the time of writing.

For two trading sessions in a row, the GBP/USD currency pair has been moving lower, giving up its highest levels in 2020 trading,

The S&P 500 roared to record highs on Wednesday.

Economic data from Mexico continues to deliver troubling statistics.

The USD/INR has produced difficult trading the past week.

The USD/SGD is trading near important short term resistance early this morning.

AUD/USD: Pivotal point at 0.7292

USD/JPY: Level at 106.41 looks extremely pivotal now

Brazil crossed the 4,000,000 Covid-19 infection level with a death toll above 123,000, second in both categories only to the US.

South Africa battles numerous crises at once, even before the Covid-19 pandemic added distinct negative pressures on Africa’s most industrialized nation and second-largest economy measured by GDP, trailing only Nigeria.

The Australian dollar has pulled back significantly during the trading session on Wednesday, but by the time we closed business in New York, we had recovered quite a bit.

The US dollar rallied a bit against the Japanese yen during the trading session on Wednesday, as we have broken above the ¥106 level.

The Euro has broken down significantly during the trading session on Wednesday, as we have reached below the 1.1850 level.