Forex Daily Forecast, Analysis and Prediction

El GBP/USD parece listo para un movimiento importante al alza, pudiendo llegar al nivel 1.75. Habrá resistencia en 1.7060

End the month of June with this weekly Forex forecast, and begin July 2014 on the right track here.

The WTI Crude Oil markets fell during Thursday’s trading, testing the $105 level for support. That being the case, we did in fact a bounce from there, so it appears that the market is still going to be well supported.

The EUR/USD pair fell during the bulk of the session on Thursday, dropping down to the 1.3575 level. With that being the case, the market ended up finding all kinds of support down there to turn back around and form a massive hammer.

The GBP/USD pair broke to the upside during the session on Thursday, claiming well above the 1.70 level again, which of course has been significant support and resistance, and of course is also a large, round, psychologically significant number.

The EUR/JPY pair fell during the bulk of the session on Thursday, but the 138 level held true as far as support. That being the case, the market should continue to find buyers down in that general area, and I am not hesitating at all to start trading this pair to the upside as we are approach that level.

The EUR/NZD pair fell yet again during the session on Thursday, breaking down below the 1.55 support level. However, you can see that we bounce back above it and now the question then becomes whether or not we can continue lower.

Bitcoin is currently trading near its previous support level of 580 which is just at around 2-3% below the resistance level of 595. Get the analysis for June 27, 2014 here.

After three consecutive days of gain, the XAU/USD pair closed yesterday’s session lower than opening. The pair initially fell to its lowest level in five days but weaker-than-expected consumer spending data helped gold to recover some of its losses quickly and close at $1316.37 an ounce.

The EUR/USD pair rose during the session on Wednesday, as the US GDP revision came out horribly. With that being the case, the market sold off the US dollar, and by extension the Euro of course got a boost in reaction.

The GBP/USD pair went back and forth during the course of the session on Wednesday, testing the 1.70 level as resistance, and as a result it appears that the market failing there shows that the resistance is in fact still viable.

The USD/JPY pair fell initially during the course of the session on Wednesday, but not enough support near the 101.50 level to bounce enough to form a hammer.

The silver markets went back and forth on Wednesday, as we continue to test the $21.00 level. This level has been resistant, as most recently seen on Tuesday in the form of a shooting star, and as a result it’s very likely that a break above this level could in fact bring in more buyers.

Check out the GBP/USD Forex signal for June 26, 2014 here.

Get the EUR/USD Forex signal for June 26, 2014 here.