The markets are cautious with a slight risk-off sentiment. Currencies are being driven by interest rate differentials and economic data. Gold is experiencing a correction, and oil prices are awaiting fresh catalysts.



  • Euro edges lower despite German business confidence rising.
  • The ECB is expected to deliver rate cuts, but the timing is uncertain.
  • Resistance at 1.0729 and 1.0757, with support at 1.0684 and 1.0656.
  • Forecast: EUR/USD may see choppy trading with a slight downward bias. Upside potential exists if US data disappoints.



  • Pound remains pressured by inflation concerns and potential for a hawkish Fed.
  • Resistance at 1.2478 and 1.2532, with support at 1.2340 and 1.2383.
  • Forecast: GBP/USD likely to remain under pressure with downside potential. Buying opportunities may arise on rebounds towards resistance levels.



  • Australian dollar edges higher after inflation data comes in higher than expected.
  • RBA likely done with rate hikes, but may hold steady until inflation eases.
  • Resistance at 0.6555 and 0.6618, with support at 0.6487 and 0.6424.
  • Forecast: AUD/USD may see some consolidation or a slight upward move if risk sentiment improves.



  • Canadian dollar dips after retail sales data disappoints.
  • BoC holding steady on rates for now, but a cut could be coming later in the year.
  • Resistance at 1.3773, with support at 1.3651 and 1.3579.
  • Forecast: USD/CAD may see some upward movement, with downside potential if risk sentiment weakens.



  • Dollar continues to strengthen against the Yen, reaching new yearly highs.
  • BoJ intervention remains a possibility to limit further Yen weakness.
  • Resistance at 155.29, with support at 154.55 and 154.82.
  • Forecast: USD/JPY likely to maintain its upward bias in the near term, but watch for potential intervention or profit-taking leading to pullbacks.



  • Gold prices have fallen sharply after reaching a new all-time high.
  • Uncertain whether the correction is a temporary pullback or a reversal of the uptrend.
  • Positive factors include the Gold/Copper ratio remaining in a rising trend channel.
  • Forecast: Gold prices could remain volatile. Upside potential depends on risk sentiment and inflation concerns. Downside risk exists if the correction extends.



  • Possible short-term uptrend: Look to buy if price holds above support at $82.06. Target price: $86.91. Stop loss according to trading pattern.
  • Downside risk: If price breaks below support and closes under $81.57, downtrend could resume. Target price: $77.11.


Bitcoin (BTCUSD):

  • Potential pullback before uptrend: Expect a small price dip before a possible rise to $71,635.77.


Ripple (XRPUSD):

  • Downtrend expected: Price may fall to $0.461.


Ethereum (ETHUSD):

  • Downtrend continuing: Price may fall to $2,907.00.
Categories: Market News

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