Forex Daily Forecast, Analysis and Prediction

The GBP/AUD pair tried to break out during the course of the session on Friday, breaking above the 2.07 level and testing the 2.08 level. Ultimately though, we ended up forming a bit of shooting star so therefore I feel that the market is going to pull back a little bit as perhaps we need to still build up a bit of momentum to continue going higher.

The EUR/GBP pair rallied during the session on Friday, in what is a relatively quiet market. At the end of the day though, we are closer to the bottom of the larger consolidation, and as a result I feel that the market can only be bought, and not sold as we are getting fairly close to an area where quite a few buyers are to be found.

Gold prices settled at $1167.76 per ounce, falling 1.44% over the course of the week, as strength in the U.S. dollar outweighed uncertainty over Greece's future in the euro zone.

Get the weekly Forex forecast for some of the major currency pairs for the week of July 6, 2015 here.

Get the Forex forecast for the week of July 6, 2015 using quant vs. chart reading analysis.

Gold prices initially fell on Thursday but the market found enough support at the $1157 level and formed a hammer. Gold rebounded from the lowest level since March 18 after some disappointing economic data from the U.S. raised some doubts over whether the Federal Reserve will start hiking interest rates as early as September.

The EUR/USD pair fell initially during the trading day on Wednesday, but I cannot help but think that the market is telling us something. After all, the Greeks defaulted on their IMF payment, and as a result the markets should have been falling apart.

The WTI Crude Oil market fell significantly during the course of the session on Wednesday, but having said that the market still found plenty of support below, especially near the $56 handle.

The GBP/CHF pair initially dropped a bit during the session on Wednesday, but found enough support near the 1.4650 level to turn things back around and break above the 1.48 level. I believe that this market is ready to go higher, if we can break above the top of the range for the session.

Check out the AUD/USD Forex signal for July 2, 2015 here.

Check out the USD/JPY Forex signal for July 2, 2015 here.

Check out the GBP/USD Forex signal for July 2, 2015 here.

Check out the EUR/USD Forex signal for July 2, 2015 here.

Check out the AUD/USD Forex signal for July 1, 2015 here.

Check out the USD/JPY Forex signal for July 1, 2015 here.