Weekly forex forecast: EUR/USD, XAU/USD, GBP/USD, USD/JPY, Bitcoin and more [Video]

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Bitcoin Analysis - BtcUsd.
Ethereum Analysis - EthUsd

Gold Analysis - XauUsd.
Silver Analysis - XagUsd.
Crude Oil Analysis - WTI.

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John Fortune

Get Me Trading

John Fortune is a professional trader and Head Analyst at Get Me Trading. John has over a decade worth of experience in the Financial Markets and produces a Weekly Forex Forecast covering over 30 markets each weekend.

GBP/USD finds support but stays below 1.3400

GBP/USD found support near 1.3370 after starting the week on the back foot but lost its recovery momentum after testing 1.3400 on Monday. The pair's upside remains capped as investors await clarity regarding the conflict in the Middle East. Later in the day, comments from central bank officials will be watched closely by market participants.

EUR/USD clings to gains around 1.1420

EUR/USD starts the week on a positive mood, leaving behind Friday’s downtick and moving back above the 1.1400 hurdle. The pair’s small recovery comes along some lack of direction in the US Dollar while market participants continue to closely follow developments from the Middle East.

Gold struggles to rebound, trades well below $4,100

Gold struggles to recover after opening with a bearish gap and trades well below $4,100, losing more than 1% on a daily basis. The US Dollar (USD) stays resilient against its rivals as markets cling to a cautious stance amid the persistent uncertainty in the Middle East. Tuesday's CPI inflation data from the US and Fed Chair Warsh's testimony could trigger the next big reaction in the precious metal.

Crypto Today: Bitcoin, Ethereum, XRP stay under pressure as US and Iran exchange fresh attacks

The cryptocurrency market broadly corrects on Monday, as risk-averse sentiment persists amid fresh military attacks between the US and Iran in the Middle East. Bitcoin hovers above $63,000, reinforcing a weak technical structure while Ethereum trades below $1,800 with the next key support near $1,700.

The week ahead: Geopolitical risks rise, Warsh speaks to congress and earnings season gathers pace

It’s a shaky start to the week for financial markets. The oil price has risen by nearly 4% and Brent crude is trading above $79 per barrel. This comes after more attacks between the US and Iran in the Gulf, and statements from the Iranian regime that it has closed the Strait of Hormuz.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June FOMC meeting landed mid-round-trip, describing a world that had already stopped existing.