Forex Daily Forecast, Analysis and Prediction

The US dollar has bounced again against the Indian rupee in the same general vicinity but faces a lot of headwinds just above.

The gold markets have touched the $2000 level a couple of times over the last couple of days, but we cannot seem to hang on to the gains above there.

Throughout the July trading, the EUR/USD performance was in a permanent upward correction pushing it to the 1.1908 resistance, the highest level in months.

Yellow metal bulls succeeded in pushing the price of an ounce of gold towards the $1983 resistance, its highest level in history.

It was surprising that the GBP was doing well despite the recent fall in global stock markets and a clear lack of headlines about Brexit.

Last Friday's session was the best daily performance for the USD/JPY pair in months, as the pair bounced strongly from the 104.18 support, the lowest for 20 weeks, to the 106.05 resistance.

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EUR/USD: Bulls control stands

The past five days of trading for the EUR/GBP have produced a bearish trend as the Pound has proven strong.

The US dollar initially pulled back and fell towards the ¥104 level during the trading session on Friday but then turned around to rally rather significantly, reaching towards the ¥106 level.

The British pound rallied a bit during the trading session on Friday, reaching towards the 1.3150 level before pulling back again.

The Euro rallied a bit to kick off the trading session on Friday but gave back the gains again as the 1.19 level had been a bit too much.