Forex Daily Forecast, Analysis and Prediction

Get the GBP/USD Forex signal for July 25, 2016 here.

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The EUR/USD pair fell during the course of the day on Friday, slicing through the 1.10 support level. I find this important, because the 1.10 level has been fairly supportive over the last couple of weeks. The British pound fell again during the day on Friday as we should continue to see bearish pressure in this market.

The US dollar rose against the Japanese yen slightly during the session on Friday. The Australian dollar is a real mess at the moment, as we continue to bounce around in general, hanging about the 0.75 handle.

The S&P 500 had a slightly positive session during the day on Friday, as we continue to grind away in this general vicinity. The NASDAQ 100 rose during the course of the session here on Friday, but you can see still remains within the trading range that we have been in over the last couple of sessions.

The WTI Crude Oil markets fell a bit during the session on Friday, but by the end of the day we bounced enough to close above the 200-day exponential moving average. Natural gas markets rose during the day on Friday, breaking above the $2.75 level by the end of the day.

Gold ended the week down nearly 0.8% on rising equity prices and the stronger dollar. The American dollar got support from fresh economic data suggesting that the U.S. economy remains on a solid footing.

Get our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for this week of July 25, 2016 here.

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Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of July 25, 2016.

Gold settled up $15.03 at $1330.78 an ounce on Thursday, recouping most of the losses from the previous session, after the European Central Bank signaled it was ready and willing to ramp up stimulus to lift inflation and economic growth in coming months.

During the course of the day on Thursday, the New Zealand dollar did get a bit of a bounce after falling significantly on Wednesday.

The WTI Crude Oil market initially trying to rally on Thursday, but continues to find the $46 level resistive enough to turn things back around. The natural gas markets initially fell during the course of the day on Thursday, but turned right back around to form a bit of a hammer.

The USD/JPY pair fell significantly during the course of the day on Thursday, as we have broken down and turned around completely the bullish pressure that we had seen during the previous day. The AUD/USD pair broke higher during the day, attempting to get above the 0.75 handle.

The euro had a fairly volatile session against the US dollar during the Thursday trading hours, but as you can see the 1.10 level offered enough support to keep the market barely above it. The GBP/USD pair fell initially during the course of the day, turning back around to form a hammer.