The US dollar has been bearish since creating a swing high back in Jan 13th, 2025. This bearish order flow has not changed since then. This past week the market entered into an old 1W FVG as a discount target. Will we get a short term retracement on the weekly chart?

This weekly forex forecast includes how I’m viewing the DXY, EURUSD, and GBPUSD this week.

US Dollar Index (DXY) Forecast

DXY Weekly Chart

The DXY maintained its bearish order flow this past week. The market entered into this old 1W FVG as a discount target. We may get a retracement back to 1W FVG left open this coming week to potentially continue the bearish order flow.

From last week’s weekly forecast, the market continued lower as anticipated and entered into an old weekly fair value gap which may act as a discount this coming week.

DXY is still bearish on the Weekly Chart. The monthly 1M fair value gap below @ 95.570 is still the potential draw.

DXY Daily Chart

We are still bearish on DXY. The market is in a short term retracement after hitting our near term draw on liquidity this past Tue [1D/1W old FVG @ 96.523].

1W FVG @ 97.685 left open this week could be reached on this retracement as a potential area to rebalance.

The potential near term draw on liquidity is 1W FVG @ 97.685

EURUSD Forecast

EURUSD Weekly Chart

The EURUSD has been bullish since the beginning of the year. The bullish order flow has NOT changed.

This bullishness continues with the market creating a 1W bullish FVG this past week. This 1W FVG may act as support to continue this bullish run towards the monthly target above it.

The potential draw on liquidity when EURUSD bullishness continues is an old monthly FVG as outlined below @ 1.19087

EURUSD Daily Chart

The EURUSD has continued its bullish run this week. I anticipate a minor retracement this coming week into the 1W FVG that was left open in order for the market to later continue its bullish order flow.

The potential near term draw on liquidity is 1W FVG left open at @ 1.17079

GBPUSD Forecast

GBPUSD Weekly Chart

The bullish order flow established back in January still holds as long as DXY remains bearish. The market is currently retesting a 1W bullish Order Block which may act as support to continue the bullish run that started from the 1W FVG last week.

The potential weekly draw on liquidity is old 1W FVG @ 1.40014

GBPUSD Daily Chart

The GBPUSD remains bullish. We came off the weekly FVG on Thursday, 19th June in the previous weeks. I remain bullish as long as DXY remains bearish.

The GBPUSD has broken structure this past week on Wednesday, 25th June in the daily chart. This daily BMS is very significant! I would prefer to see the 1D BMS hold on a daily closing basis for continued bullishness.

1W OB coupled with 1D FVG are acting as support after the market broke structure these previous weeks.

The potential near term draw on liquidity is previous monthly highs [Oct 2021 Highs] @ 1.38347 on the upside.

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