The EUR/USD pair shows resilience despite disappointing European data, with focus shifting to U.S. Producer Price Index figures that could influence a potential rise. GBP/USD experiences modest gains as the UK labor market improves, though wage growth slows, raising concerns about inflation. Meanwhile, the JPY weakens, pressured by dovish expectations from the Bank of Japan, and faces resistance at key levels. Gold prices increase amid geopolitical tensions and safe-haven demand, but signs of exhaustion suggest potential for a corrective pullback if resistance at $2,476 holds firm.

EUR/USD

• Current Status: The EUR/USD pair is in a bullish trend. The pair has tested and is currently holding above the 1.0941 resistance level.
• Support Levels: 1.0905, 1.0884, 1.0841, 1.0816
• Resistance Levels: 1.0941, 1.1000

Analysis:

• The EUR/USD is trading within a bullish trend, with the price pushing against the 1.0941 resistance level. If this level is breached, we can expect the pair to target 1.1000.
• If there is a failure to break 1.0941 and a significant downward movement occurs, the pair may retreat to the support at 1.0905 or even lower to 1.0884.

Forecast:

• Bullish Scenario: If the pair breaks above 1.0941 and sustains, it may rise toward 1.1000, which could become the next resistance level.
• Bearish Scenario: If EUR/USD fails to break 1.0941 and drops below 1.0905, it could signal a decline toward 1.0884 or lower.

GBP/USD

• Current Status: GBP/USD has a bullish bias but faces resistance at 1.2781.
• Support Levels: 1.2750, 1.2690, 1.2600
• Resistance Levels: 1.2850, 1.2950, 1.3000

Analysis:

• The GBP/USD has been rising on the back of mixed economic data from the UK. The pair has been testing the resistance at 1.2781, and a breakout could lead to a push toward 1.2850.
• On the downside, if the pair fails to maintain its upward momentum, it could retreat to the nearest support level at 1.2750 or further down to 1.2690.

Forecast:

• Bullish Scenario: If GBP/USD breaks through 1.2781, it could target the next resistance at 1.2850, with further potential to reach 1.2950.
• Bearish Scenario: If the pair breaks below 1.2750, it may decline toward 1.2690, with the possibility of testing 1.2600 if the bearish momentum continues.

USD/JPY

• Current Status: The USD/JPY pair is in a bearish trend, but buyers are attempting to hold the price above 147.03.
• Support Levels: 147.03, 146.10, 142.80, 140.22
• Resistance Levels: 148.13, 150.88, 151.26

Analysis:

• The USD/JPY pair has reached a critical resistance level at 148.13. A breakout above this level could lead to a push toward 150.88.
• If the resistance at 148.13 holds and the pair reverses, it may test the support at 147.03, with a further decline to 146.10 possible.

Forecast:

• Bullish Scenario: A breakout above 148.13 could signal a move toward 150.88 or even higher, depending on the strength of the bullish momentum.
• Bearish Scenario: If USD/JPY falls below 147.03, it could target the support at 146.10, and a further decline could see it move toward 142.80.

Gold (XAU/USD)

• Current Status: Gold is in an upward trend, trading around the resistance level of 2,459.
• Support Levels: 2,440, 2,418, 2,406
• Resistance Levels: 2,459, 2,476, 2,500

Analysis:

• Gold has been trading in a bullish channel and is currently testing the resistance at 2,459. A breakout above this level could lead to further gains toward 2,476 and possibly 2,500.
• However, if the resistance holds and the price reverses, gold could pull back to the support levels at 2,440 or 2,418.

Forecast:

• Bullish Scenario: If gold breaks above 2,459 and holds, it may continue to rise toward 2,476 or even 2,500.
• Bearish Scenario: If gold fails to break 2,459 and reverses, a decline toward 2,440 or lower toward 2,418 could be expected.