The market is currently in summer months trading conditions, which means that there are lots of market manipulations. I personally like to reduce my trading exposure at this time and also reduce risk. The market may at this period not deliver as expected, however the order flow will still be maintained.
This weekly forex forecast includes how I’m viewing the DXY, EURUSD, and GBPUSD this week.
US Dollar Index (DXY) Forecast
DXY Weekly Chart
Nothing much has happened since our last week’s market review. The market is potentially retracing back to this 1M FVG it broke below back in June 2025. I will watch this as a potential draw in the lower timeframes.
DXY is still overall bearish on the Weekly Chart. We are potentially retracing higher back to the monthly 1M FVG outlined below as a potential draw.
DXY Daily Chart
If the market continues to remain above this 1D iFVG, we may run for June 2025 Highs.
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The market this week continued higher on the daily chart. If the market is retracing higher potentially towards 1M FVG as outlined on the weekly chart, we should see it remain above the 1D iFVG for it to act as support for that idea to hold.
1D iFVG is the last line of defense for bullish prices on retracement towards 1M FVG.
EURUSD Forecast
EURUSD Weekly Chart
The EURUSD is still overall bullish. However, if DXY continues to retrace higher, EURUSD may retrace lower into 1M FVG that was broker back in June 2025.
The potential draw on liquidity on the downside is 1M iFVG.
EURUSD Daily Chart
The 1W FVG outlined is the last line of defense for any bullishness on the short term. A close below it would indicate continuation of the current deep retracement to send us lower into 1M iFVG.
GBPUSD Forecast
GBPUSD Weekly Chart
GBPUSD entered into is 1W FVG this past week. This 1W FVG is a deciding factor of where we go from here. If we close below it on a weekly or daily closing basis, we may drop further towards 1M iFVG below.
But if we fail to close below it, it may act as support to resume original order flow.
GBPUSD Daily Chart
The GBPUSD daily chart has been rather aggressive on the recent bearish move. This past week entered into its 1W FVG, but it hasn’t responded of it yet.
We may get further downside depending on how the Dollar Index delivers in the coming weeks. A daily close below the 1W FVG outlined may send us further lower into 1M iFVG.
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