Weekly Forex Forecast (July 3-7, 2023) DXY, EURUSD, GBPUSD, AUDUSD, XAUUSD

The latest technical analysis for DXY, EURUSD, GBPUSD, AUDUSD, and XAUUSD (gold)
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_________________ CHAPTERS _________________

0:00 Intro
0:27 DXY Forecast
4:06 EURUSD Forecast
7:58 GBPUSD Forecast
10:53 AUDUSD Forecast
15:22 XAUUSD Forecast

_______________ DXY Analysis _______________

The DXY hit our target last week at 103.50, a confluence of resistance based on several factors.

I’ve discussed 103.50 several times recently, including last week’s forecast, and nearly every YouTube video last week.

The DXY index reached a high of 103.54 on Friday before reversing by nearly 0.80%.

That was also the trigger for me to book profits on my EURUSD short, which I did on Friday for over 80 pips.

_______________ EURUSD Analysis _______________

EURUSD played out nicely last week, offering a short opportunity from the 1.0950-1.0970 resistance area.

My target for the EURUSD short was 1.0820/30.

The euro hit 1.0835 on Friday before bouncing nearly 100 pips.

_______________ GBPUSD Analysis _______________

GBPUSD confirmed a potential fakeout about 1.2750 last week, suggesting a top may be in place for the pound.

However, it will depend on how the pair reacts to the 1.2750 resistance area this week.

A rejection from there would expose the October 2022 trend line near 1.2550.

_______________ AUDUSD Analysis _______________

AUDUSD has some really clean horizontal levels to trade.

The pair also broke out from a short-term descending trend line on the hourly time frame.

However, the 0.6670 resistance area could trigger an AUDUSD pullback early next week.

Get the complete forex analysis here:

_______________ XAUUSD Analysis _______________

We saw XAUUSD (gold) bounce from the $1,900 support area I talked about in last week’s video.

Gold also reclaimed $1,912, a level that should serve as support next week.

The $1,900 area is a must-hold support region for XAUUSD bulls.

See more forex technical analysis here:

*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

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