Forex Daily Forecast, Analysis and Prediction

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The price of Bitcoin after closing below the support level of 638 has been unable to make any major upmove. Get the forecast for July 7, 2014 here.

Get the GBP/USD Forex Signal for July 7, 2014 here.

Get the EUR/USD Forex signal for July 7, 2014 here.

The EUR/USD pair fell during the session on Friday, but as you can see the range was relatively small, which of course makes sense as the Americans would have been away at the Independence Day holiday.

The EUR/NZD pair fell slightly during the session on Friday, but as you can see sits just above the psychologically significant 1.55 handle. This area has been rather supportive lately, as we have been consolidating, but as you can see we have been in a downtrend for some time.

The EUR/GBP pair fell during the session on Friday, breaking below the 0.7950 level. This of course is a fairly negative sign, as the downtrend seems to be in full effect, and should continue to extend much lower.

The EUR/CAD pair tried to fall during the session on Friday, but as you can see bounced and order to form a hammer.

The EUR/JPY pair fell during the course of the session on Friday, but as you can see we have been consolidating recently, and the red line at the 138 level has in fact offered support for some time now.

Gold prices (XAU/USD) rose 0.46% over the course of the week and settled at $1320.26 an ounce on Friday. Without doubt last week’s main event was release of the government’s jobs report.

Get the trading week started with this Bitcoin/USD technical forecast for July 6, 2014 here.

Get the weekly Forex forecast for some of the major currency pairs for the week of July 6, 2014 here.

The WTI Crude Oil markets gapped to the downside during the session on Thursday, but found enough support at the $104 level to cause the market to form a little bit of a neutral candle.

The GBP/USD pair initially fell during the session on Thursday, but as you can see the 1.71 level has offered enough support to turn the market back around and form a nice-looking hammer.

Gold prices (XAU/USD) ended yesterday’s session with a loss as strength in global equities and the American dollar helped draw investors away from the shiny metal.