Usually, the best forecasts for relatively long periods such as a month are made in the direction of exiting momentum, which puts the trader as the same side as the “fat tail” edge. Usually, the action of the previous 3 months or so is a good guide as to what will happen over the next 1 month period for major currencies such as the USD and the EUR.
Unfortunately, the summer months of June, July, and the early part of August tend to be exceptions to this rule, with liquidity and volatility falling and trends drying up being the norm for this period. Forex pairs tend to range during July, so there is little point in predicting a directional move. It makes more sense to see pairs ranging within 1% or so either side of their current price.
Looking at the market as a whole there are probably going to be two major exceptions to this picture:
The NZD is in a strong and well-established short trend, continuing to make new lows consistently against every other currency. There is no reason to think that this strong trend is suddenly going to come to a complete halt just because it is July.
At the time of writing, it is expected that the Greek crisis is about to reach a point of no return, and this can be expected to provide a strong shock to the EUR in particular and to the financial system (particularly in Europe) in general. This may express itself in a sharp fall in the Euro, and instead of following through, the currency may just swing wildly up and down all month.