Forex Daily Forecast, Analysis and Prediction

Despite three trading sessions during which the price of the USD/JPY pair was subjected to selling operations, it moved towards the 134.75 support level.

Amidst the strength of the US dollar, gold futures fell below the $1,800 level, despite rising inflation and growing recession fears.

The price will become more bullish if it gets established above $1.2137.

The USD/JPY tested lows early this morning, but price action has reversed higher again and may be an indicator of things to come in the near term.

The NZD/USD remains within eyesight of long term depths, but a slight reversal higher in trading today has given the Forex pair some short term positive vigor.

The British pound had a rather rough day on Friday, falling all the way down to the 1.20 level before bouncing 100 pips during the New York session.

The S&P 500 was noisy during the Friday session as traders started to focus on the Independence Day holiday.

The euro initially fell hard on Friday, but found enough buyers underneath the 1.04 level to turn things around.

The German DAX stock market initially fell on Friday, but the €12,800 level seems to be hanging on as far as support is concerned, and it’s likely that the market may try to bounce from here.

The Parisian CAC Index had a relatively strong session on Friday, engulfing the Thursday candlestick with an impressive move.

The West Texas Intermediate Crude Oil market bounce a bit on Friday to show signs of this bounce from a relatively significant trend line.

The Australian dollar had a very tough session on Friday, breaking below the 0.68 level before finally recovering during the New York session.

Gold markets initially looked like they were going to break down drastically on Friday, but turned around quite significantly to form a massive hammer.

Ethereum continued to go sideways Friday as crypto is all but dead.

Bitcoin struggled again Friday after initially showing a bit of promise.