Weekly Forex Forecast – Weekly Forex Trading Analyses

US stock markets inched higher to new record highs, but cloud cover is increasing with the announcement of new US tariffs, notably against Mexico and the European Union at 30% from August. We are likely to see more of a risk-off sentiment in markets this week, which could cause some reversals within long-term trends.

The GBP/USD began last week near its highs as it remained somewhat in sight of the 1.37000 ratio, only to go into this weekend below the 1.35000, this as nervousness was sparked by tariff rhetoric and weaker than expected U.K economic data.

WTI Crude Oil has turned in an upwards incremental price path since the last week in June. The commodity has gone into the weekend with a higher spot price and futures contracts all exhibiting flirtations with higher realms.

Gold steady, silver breaks resistance, DAX consolidates. USD mixed across pairs. Key levels and trends for the week of July 14.

Markets enjoyed continued risk-on sentiment last week, especially in the USA with stronger than expected jobs and earnings data. However, that sentiment might take a hit this week as attention will turn to Trump’s tariff deadline which could see several countries being hit with higher US tariffs.

The EUR/USD went into this week near the 1.17750 mark which was within the higher elements of its week’s long range, but day traders need to be prepared for the return of full volume and tariff rtetoric.

WTI Crude Oil went into this weekend near the 65.650 vicinity, but traders will need to treat this price cautiously as it opens tomorrow because of the holiday trading seen.

Markets stay bullish: metals, oil, and Bitcoin push higher. Stocks pull back slightly but show strong momentum.

The end of the Iran war with a clear US / Israeli victory and the possibility of an end to the war in Gaza, coupled with renewed risk-on bullishness which has sent US stock market indices to new record highs, is creating an increasingly strong risk-on environment that is seeing a major selloff in the US Dollar continue.

The GBP/USD has gone into this weekend near the 1.37164 mark. The currency pair produced another steady round of gains the past week as it broke through highs seen in late May and the first week of June.

WTI Crude Oil went into the weekend near the 64.330 price, but clearly that is not the full story for the commodity as it received international attention in the midst of the Middle East conflict.