Forex Weekly Forecast with Technical Analysis on Jun 24 '24

Last week was filled with monetary announcements from major central banks, including a surprise rate cut by the Swiss Central Bank, contrasted with steady positions from the Bank of England and the Reserve Bank of Australia. 

This week offers a variety of important US economic data releases, such as GDP reports and the crucial PCE report, which could greatly influence market directions. 

Here’s a quick look at the potential market movements…

DXY (US Dollar Index): 

The Dollar Index continues to show strength across various timeframes, supported by recent rate adjustments and anticipation around forthcoming U.S. economic data. Nikkhil is eyeing an upward path with potential to move past the 105.25 mark, suggesting a strong bullish stance in the short to medium term.

DXY Technical Analysis on Jun 24 '24



Demonstrating a strong bullish pattern on both monthly and weekly charts, AUD/NZD presents attractive buying opportunities on any pullbacks to important support levels. Traders should focus on the 1.1162 target, derived from key Fibonacci extensions, indicating a potential upward movement.

AUD/NZD Technical Analysis on Jun 24 '24



Following the unexpected rate cut by the Swiss Central Bank, the USD/CHF pair may find short-term bullish opportunities as it tests critical resistance levels. You should proceed with caution, however, as a failure to surpass these levels could signal a reversal to bearish trends.

USD/CHF Technical Analysis on Jun 24 '24


Bitcoin is currently in a consolidation phase following its recent peak. There could be a retracement towards the $55,000 level, yet the overall bullish trend is still in place. This presents an ideal scenario for you to consider entering on dips, targeting further upward movements.

BTC/USD Technical Analysis on Jun 24 '24


The gold market is currently a battleground for control between bulls and bears, with key levels at $2284 and $2217. These points are vital for determining the next significant price move, making it an excellent time for traders to consider positions that capitalise on confirmed bullish rebounds or bearish breaks.

XAU/USD Technical Analysis on Jun 24 '24

The technical groundwork has been laid for you, now it’s all about precise timing and execution to capitalise on these movements.

Click Here To Watch The Full Week Forex Forecast

As we prepare for another lively week in the markets, use this analysis to refine your strategies and potentially improve your trading outcomes. 

Remember, each trade is a step towards mastering the markets, armed with knowledge and precise analysis. 

Wishing you a profitable trading week ahead.