Forex Daily Forecast, Analysis and Prediction

The S&P 500 of course was closed during the trading session on Thursday but the electronic E-mini contract has been trading.

The British pound initially tried to rally during the trading session on Thursday, but as it was Independence Day in the United States it was very unlikely to gain any serious traction in one direction or another.

The US dollar has gone back and forth during the trading session on Thursday in a very tight range, but that shouldn’t be much of a surprise as it has been Independence Day in the United States.

On the daily chart, GBP / USD is still holding to lower performance as pressure on the pair increases.

European leaders agreed to nominate Lagard, director of the International Monetary Fund (IMF), for the post of governor of the European Central Bank, replacing Mario Draghi, whose term expires in October.

The performance of the yellow metal during the Tuesday session was a consolidation of the upward trend strength.

The JPY is still the main beneficiary of continued global trade and political tensions as one of the most important safe haven to hedge investors from the consequences of these tensions.

NZDUSD: Ranging and choppy around 0.6700

AUDUSD: Strong bearish reversal at 0.7047

USDJPY: 107.50 still supportive

Bitcoin: Bullish above $11,561

USDCAD: Support at 1.3054 holds firmly again

USDCHF Analysis: Bullish consolidation above 0.9841

The Euro went back and forth during the trading session on Wednesday, showing signs of stability and uncertainty around the 50 day EMA.

The British pound fell again during the trading session on Wednesday as traders start to focus on the Independence Day holiday on Thursday.