The EUR/USD pair remains resilient amid low volatility, as the U.S. retail sales report drives focus on the dollar’s trajectory. The GBP/USD sees mild recovery, supported by the UK’s solid GDP growth despite inflation concerns. The JPY weakens as robust U.S. retail sales push USD/JPY higher, testing key resistance levels. Gold recovers from a post-CPI dip, buoyed by a softening U.S. Dollar Index but remains under $2500/oz, needing a significant catalyst to break higher. Bitcoin’s performance remains volatile, influenced by market sentiment and macroeconomic developments.

EUR/USD:

• Current Overview: EUR/USD shows a bullish trend in the hourly timeframe, currently testing resistance around 1.1045. The Euro has strengthened due to a weaker dollar after US CPI data showed mild disinflation, supporting expectations of a Federal Reserve rate cut. However, Eurozone data indicates weaker investor confidence and industrial activity.
• Support Levels: 1.0947, 1.0905, 1.0884
• Resistance Levels: 1.1019, 1.1045, 1.1138
• Forecast: The pair is likely to continue its upward trend towards the 1.1045 level, with potential for further gains if US data continues to support a weaker dollar. However, the resistance at 1.1045 might trigger a pullback, especially if Eurozone data continues to disappoint.
  
  

GBP/USD:

• Current Overview: GBP/USD remains in a bullish trend but faces resistance around 1.2868. The pound has been supported by better-than-expected UK GDP data, but a stronger US dollar following robust retail sales is capping gains. The pair is trading within a balanced range of 1.2818–1.2868, making it challenging to identify clear entry points.
• Support Levels: 1.2818, 1.2800, 1.2726
• Resistance Levels: 1.2868, 1.2912, 1.2950
• Forecast: GBP/USD may continue to oscillate within its current range unless new fundamental data shifts the balance. A breakout above 1.2868 could lead to further gains, but a failure at this level could see the pair retreat to support around 1.2800.

USD/JPY:

• Current Overview: USD/JPY is in a bearish medium-term trend but currently trading within a balanced range of 146.12–148.13. The yen has weakened following strong US retail sales, but geopolitical risks and potential political instability in Japan could lend some support.
• Support Levels: 146.12, 142.80, 140.22
• Resistance Levels: 148.13, 150.88, 151.26
• Forecast: USD/JPY is likely to remain within its current range, with a possible test of resistance at 148.13. A breakout above this level could see a move towards 150.00, while a breakdown below 146.12 would open the door to a deeper correction towards 145.00.

Gold (XAU/USD):

• Current Overview: Gold has rebounded after a selloff driven by post-CPI adjustments, supported by a weaker US Dollar Index (DXY). The price is trading within a range of 2350 to 2500, with strong resistance at 2480.
• Support Levels: 2450, 2438, 2432
• Resistance Levels: 2472, 2480, 2500
• Forecast: Gold is expected to continue trading within its current range until more clarity emerges from the Federal Reserve’s September meeting. Any move above 2480 is likely to face strong resistance unless geopolitical risks or further dollar weakness provide a catalyst.

Bitcoin (BTC/USD):

• Current Overview: Bitcoin is experiencing volatility with resistance around $30,000 and support around $25,000. The market remains influenced by broader risk sentiment and regulatory developments.
• Support Levels: $27,000, $25,000, $23,500
• Resistance Levels: $29,000, $30,000, $32,500
• Forecast: Bitcoin may continue to trade within its established range, with potential for a breakout above $30,000 if risk appetite improves or institutional adoption increases. A break below $25,000 could signal a deeper correction towards $23,500.