Forex Daily Forecast, Analysis and Prediction

The price is looking likely to consolidate over the near term.

The British pound initially slid against the US dollar Friday but has recovered quite nicely as you can see on the chart.

The US dollar rallied again during the Friday session as it looks like the 16.88 level is now in the rearview mirror.

The Brazilian real strengthened a bit against the US dollar as the dollar fell to the 5.27 level during the Friday session.

The S&P 500 recovered even further on Friday, as the jobs number came and went.

The euro initially plunged on Friday but then turned around to show signs of life again as we ended up forming a hammer.

Bitcoin rallied during most of the trading session on Friday but gave back gains as we continue to see a bit of hesitation.

The Canadian dollar initially fell quite drastically against the Japanese yen as former Japanese Prime Minister Shinzo Abe was assassinated.

The German DAX Index initially dipped a bit in the futures market on Friday, but then turned around to show signs of strength.

Gold markets initially shot higher on Friday but gave up gains again.

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, after initially falling in reaction to the jobs number.

The AUD/USD pair moved sideways as focus remains on the falling commodity prices and the strong American jobs data.

The BTC/USD pair rallied above 22,000 last week as risky assets made some recovery.

The EUR/USD pair moved back slightly after the latest American jobs data that were published on Friday.

Get our trading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of July 11, 2022.