Global markets are navigating a mixed environment shaped by shifting US monetary expectations, uneven economic momentum across regions, and elevated volatility in crypto and metals. The nomination of a more hawkish Federal Reserve chair candidate continues to underpin the US dollar, limiting upside for major currencies while pressuring risk-sensitive assets. At the same time, sharp corrections across Bitcoin and Gold have attracted active participation from both short-term traders and longer-term investors, creating wide trading ranges and tactical opportunities.

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🇪🇺/🇺🇸 EUR/USD: Outlook – Euro vs U.S. Dollar

Market Drivers

• Repeated disappointments in eurozone services activity are weighing on sentiment, with Germany and Spain showing contraction while France and Italy struggle to offset weakness.
• US data remains the dominant catalyst, with employment and services activity shaping near-term dollar demand.
• Political developments in the US and expectations of firmer monetary discipline continue to favor the dollar on rallies.

Market Structure & Bias

• The euro remains capped below a dense supply zone where sellers continue to defend higher levels.
• Buyer conviction is weak, and rebounds are corrective rather than trend-forming unless US data deteriorates meaningfully.

Key Levels

• Support: 1.1777 → 1.1754
• Resistance: 1.1839 → 1.1874 → 1.1953

Trading Recommendations

• Favor sell-on-rallies toward the 1.1839–1.1874 zone if price action shows hesitation.
• Downside targets remain focused on the 1.1777 and 1.1754 area.
• Long positions only become attractive on a clear and sustained break above 1.1874, which would shift short-term control back to buyers.

Outlook

• Short-term: Bearish to neutral
• Medium-term: Range-bound with downside risk

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🇬🇧/🇺🇸 GBP/USD Outlook – British Pound vs U.S. Dollar

Market Drivers

• UK services activity remains in expansion, but repeated misses versus expectations highlight fragility in the recovery.
• Investors remain cautious ahead of the Bank of England policy decision, limiting aggressive positioning.
• Dollar strength driven by US policy expectations continues to cap sterling rallies.

Market Structure & Bias

• The pair is attempting to stabilize but continues to face heavy supply just above current levels.
• Momentum remains fragile, with sharp reactions likely around key intraday levels.

Key Levels

• Support: 1.3710 → 1.3643 → 1.3568
• Resistance: 1.3737 → 1.3787 → 1.3871

Trading Recommendations

• Short positions are favored on a rejection from the 1.3737 resistance zone.
• A break back below 1.3710 opens room toward 1.3650 and lower.
• Only sustained acceptance above 1.3737 would justify fresh long exposure targeting 1.3787.

Outlook

• Short-term: Neutral with downside risk
• Medium-term: Range-bound pending clearer policy signals

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🇺🇸/🇯🇵 USD/JPY Outlook – U.S. Dollar vs Japanese Yen

Market Drivers

• Strong US economic resilience continues to support yield differentials in favor of the dollar.
• Political developments in Japan, including expectations of fiscal expansion, are adding pressure to the yen.
• Market participants remain cautious about official intervention but see limited near-term resistance to upside moves.

Market Structure & Bias

• Price action remains constructive, with buyers controlling pullbacks.
• The absence of major resistance overhead increases the risk of extended upward moves during strong US data releases.

Key Levels

• Support: 155.52 → 155.31 → 154.57
• Resistance: 157.37

Trading Recommendations

• Favor buy-on-dips near the 155.31–155.52 support zone.
• Upside continuation targets sit near 157.37.
• Short positions should remain tactical and limited unless price fails decisively below 155.00.

Outlook

• Short-term: Bullish
• Medium-term: Uptrend intact

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₿ BTC/USD Outlook – Bitcoin

Market Drivers

• Large institutional transfers linked to ETFs have amplified uncertainty and triggered aggressive liquidation cycles.
• Reduced fundraising ambitions from major stablecoin issuers point to more cautious institutional sentiment.
• Hawkish monetary expectations and geopolitical risks continue to pressure speculative assets.

Market Structure & Bias

• Bitcoin is attempting to stabilize after a sharp drawdown, but confidence remains fragile.
• Volatility remains elevated, favoring tactical trading rather than long-term positioning at current levels.

Key Levels

• Support: 74600 → 72100 → 68900
• Resistance: 77400 → 80100 → 83100 → 85600

Trading Recommendations

• Short-term buyers may engage near 74600 with tight risk control.
• A recovery above 77400 would open the path toward 80100 and higher.
• Failure to hold 74600 risks renewed selling pressure toward the low 72000s.

Outlook

• Short-term: Volatile and corrective
• Medium-term: Neutral with recovery potential

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🪙 XAU/USD Outlook – Gold vs U.S. Dollar

Market Drivers

• Expectations of eventual monetary easing continue to support long-term demand.
• Geopolitical tensions and persistent inflation concerns remain key structural tailwinds.
• The recent correction appears driven by profit-taking rather than a shift in strategic positioning.

Market Structure & Bias

• Gold has successfully stabilized above a major psychological level, signaling renewed buyer interest.
• The broader uptrend remains intact despite sharp short-term swings.

Key Levels

• Support: 5000 → 4980 → 4948 → 4745
• Resistance: 5100 → 5145 → 5230

Trading Recommendations

• Favor buy-on-pullbacks while price holds above the 4948–5000 zone.
• A clean break above 5100 would confirm continuation toward 5230 and beyond.
• Short positions should only be considered near resistance after clear rejection signals.

Outlook

• Short-term: Constructive with volatility
• Medium-term: Bullish

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📊 Summary Table: Forex Analysis As of February 5, 2026

Asset	Bias	Key Support	Key Resistance	Preferred Strategy
🇪🇺 EUR/USD	Bearish-Neutral	1.1777	1.1839	Sell rallies
🇬🇧 GBP/USD	Neutral	1.3710	1.3737	Range trading
🇯🇵 USD/JPY	Bullish	155.52	157.37	Buy pullbacks
₿ BTC/USD	Volatile	74600	77400	Tactical trading
🪙 XAU/USD	Bullish	4948	5100	Buy dips

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