Weekly Forex Forecast – Weekly Forex Trading Analyses

WTI crude oil price continued its downward trend that started on July 5th and settled at $78.57, its lowest point since June 17th.

The EUR/USD started last week in an upbeat tone as hopes of Federal Reserve interest rate cuts rose.

Get the weekly Forex forecast for major currency pairs for the week of July 22-27, 2024 here.

Get our Weekly Forex Forecast Insights.

Following the long holiday weekend in the U.S, speculators returned to the WTI Crude Oil market and trading incrementally produced lower prices starting last Monday.

Political intrigue has been a strong discussion point among many analysts regarding the outlook for the EUR/USD.

Bitcoin holds $56.5K, Silver near $31, DAX targets €19K, EUR/USD strong at 1.09, S&P 500 above 5600, and more insights.

Comments from Fed Chair Jerome Powell and lower than expected global inflation data releases boosted risk-on sentiment, sending the US Dollar lower and riskier assets like equity indices to new record highs.

Friday’s trading in the GBP/USD produced solid gains early and managed to go into the weekend extending the climb.

Speculators should brace for a test of WTI Crude Oil prices early this week as full trading volumes return to the commodity.

Get the weekly Forex forecast for major currency pairs for the week of July 08-13, 2024 here.

Last week was dominated by action in the Forex market, with a weak Japanese Yen and a strong Australian Dollar.

The election results in France which will be seen late tonight and into Monday morning, this will likely impact the EUR/USD.

The commodity essentially closed near values it tested from Monday until Thursday of last week.

Get the weekly Forex forecast for major currency pairs for the week of July, 01-06, 2024 here.