Forex Daily Forecast, Analysis and Prediction

The Turkish lira fell during early trading today, as investors followed early reports issued by the country's statistics institute that showed inflation rose 78.62%.

The trading of the last week of June was harsh for the price of the euro/dollar pair, as it fell to the 1.0365 support level and settled around the 1.0435 level at the beginning of this important week’s trading.

At the end of last week’s trading, the price of the GBP/USD pair fell below the 1.2000 psychological support, with losses to the 1.1975 support level, its lowest in two weeks.

Despite three trading sessions during which the price of the USD/JPY pair was subjected to selling operations, it moved towards the 134.75 support level.

Amidst the strength of the US dollar, gold futures fell below the $1,800 level, despite rising inflation and growing recession fears.

The price will become more bullish if it gets established above $1.2137.

The USD/JPY tested lows early this morning, but price action has reversed higher again and may be an indicator of things to come in the near term.

The NZD/USD remains within eyesight of long term depths, but a slight reversal higher in trading today has given the Forex pair some short term positive vigor.

The British pound had a rather rough day on Friday, falling all the way down to the 1.20 level before bouncing 100 pips during the New York session.

The S&P 500 was noisy during the Friday session as traders started to focus on the Independence Day holiday.

The euro initially fell hard on Friday, but found enough buyers underneath the 1.04 level to turn things around.

The German DAX stock market initially fell on Friday, but the €12,800 level seems to be hanging on as far as support is concerned, and it’s likely that the market may try to bounce from here.

The Parisian CAC Index had a relatively strong session on Friday, engulfing the Thursday candlestick with an impressive move.

The West Texas Intermediate Crude Oil market bounce a bit on Friday to show signs of this bounce from a relatively significant trend line.

The Australian dollar had a very tough session on Friday, breaking below the 0.68 level before finally recovering during the New York session.