Forex Daily Forecast, Analysis and Prediction

Get the NZD/USD Forex signal for July 06, 2015 here.

Get the USD/CHF Forex signal for July 06, 2015 here.

Get the AUD/USD Forex signal for July 06, 2015 here.

Get the USD/JPY Forex signal for July 06, 2015 here.

Get the GBP/USD Forex signal for July 06 2015 here.

The EUR/USD pair did very little during the session on Friday, which of course isn’t much of a surprise to me considering that the Greeks are voting on whether or not to pay back the loans on Sunday, and of course the Americans were away for the Independence Day holiday. Because of this, there probably wasn’t much in the way of trading, and to move the markets would have been asking quite a bit.

Get the EUR/USD Forex signal for July 06 2015 here.

The USD/CAD pair tried to rally during the course of the session on Friday, just as it tried on Thursday. However, we got a repeat session as we ended up pulling back to form a shooting star, which of course is a very negative sign.

During the session on Friday, the Australian dollar fell rather significantly and reached towards the 0.75 level. This of course is a massively supportive number based upon not only the previous support and resistance that we have seen over the last several years, but the fact that it is a large, round, psychologically significant number.

The GBP/AUD pair tried to break out during the course of the session on Friday, breaking above the 2.07 level and testing the 2.08 level. Ultimately though, we ended up forming a bit of shooting star so therefore I feel that the market is going to pull back a little bit as perhaps we need to still build up a bit of momentum to continue going higher.

The EUR/GBP pair rallied during the session on Friday, in what is a relatively quiet market. At the end of the day though, we are closer to the bottom of the larger consolidation, and as a result I feel that the market can only be bought, and not sold as we are getting fairly close to an area where quite a few buyers are to be found.

Gold prices settled at $1167.76 per ounce, falling 1.44% over the course of the week, as strength in the U.S. dollar outweighed uncertainty over Greece's future in the euro zone.

Get the weekly Forex forecast for some of the major currency pairs for the week of July 6, 2015 here.

Get the Forex forecast for the week of July 6, 2015 using quant vs. chart reading analysis.

Gold prices initially fell on Thursday but the market found enough support at the $1157 level and formed a hammer. Gold rebounded from the lowest level since March 18 after some disappointing economic data from the U.S. raised some doubts over whether the Federal Reserve will start hiking interest rates as early as September.