Let’s start with getting an overview of the high and medium impact news events for the week. Also, note that Thursday is 4th of July, which is a Federal Holiday in the United States. Any predicted trends for currency pairs associated with the USD that fall on Thursday, should be offset to Friday due to the short trading week.
Note that all these predictions were created on Saturday 6/29/2024. User should mentally shift these dates to 7/1/2024 (CEST + 3) time zone.
We start our predictions by first looking at the USXUSD or the prediction for the dollar index.
As we can see that the USXUSD will continue upward until about Tuesday mid-day. Then the trend should reverse and retest the weekly open. Finally, the trend should turn upwards and continue upwards for the rest of the week starting Wednesday.
Next, let’s look at the prediction of AUDUSD:
The trend for AUDUSD is in line with the prediction for USXUSD above. We can anticipate a bottom around late Monday. Then the trend should be upward for Tuesday and Wednesday. Lastly, we can anticipate a retracement for the rest of the week, possibly retesting the low of the week created on Monday.
Next, let’s look at the prediction for EURUSD:
We can anticipate EURUSD to create the weekly low as early as Monday. However, we can then anticipate EURUSD to strengthen for the rest of the week, creating new highs by sometime on Thursday.
Next, let’s look at the trend for GBPUSD:
For GBPUSD, we can anticipate a consolidation throughout the week. We can consider the extreme highs in the price action on the high side to form by Tuesday. And the Low of the week to form by Thursday. After Thursday, we can anticipate the price to revert back to it’s high of the week.
Next, let us take a look at NZDUSD:
We can anticipate NZDUSD to strengthen against the US dollar for the first two trading days of the week. However, NZDUSD is expected to give up some of its gains mid week, providing another opportunity for entry mid-week. From thereon, we can anticipate an uptrend for the rest of the week.
Next, let’s look at the prediction for USDCAD:
As we can see form the chart above, USDCAD is anticipated to remain steady for most of Monday. Then, we can anticipate USDCAD to have a slight uptrend. The trend should pull back a little on Tuesday. Then we can anticipate a strong uptrend for the rest of the week.
Next, let’s look at the prediction of USDCHF for the week:
Similar to the GBPUSD trend, we can anticipate a consolidation for the whole week for USDCHF. The trends seem to be identical so it may offer a good counter hedging opportunity between USDCHF and GBPUSD.
Lastly, let’s look at the prediction for USDJPY:
We can anticipate USDJPY to have an upward drift for the first part of the week. For the remainder of the week, we can anticipate the USDJPY pair to have a slight downtrend giving up some of its gains. By the end of the week we can anticipate a turnaround and making new highs for the week, perhaps on some high or medium impact news.
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