USD likely strengthens, pressuring EUR, GBP, JPY. EUR/USD, GBP/USD may fall on weak support. AUD/USD down on weak data, could weaken further. USD/CHF flat to weak. Silver, Gold may correct despite bullish signs.
Euro (EUR/USD):
- Overall Trend: Downward pressure due to strong US data expected later in the day.
- Support Levels: 1.0855, 1.0829
- Resistance Levels: 1.0883, 1.0915, 1.0942
- Buying Opportunities: False breakout around 1.0855 or double test of 1.0857. Target: 1.0883 (resistance) or 1.0901.
- Selling Opportunities: False breakout around 1.0883 or double test of 1.0876. Target: 1.0855 (support) or 1.0829.
British Pound (GBP/USD):
- Overall Trend: Downward pressure due to strong US data expected later in the day.
- Support Levels: 1.2736, 1.2695, 1.2672
- Resistance Levels: 1.2776, 1.2814, 1.2853
- Buying Opportunities: False breakout around 1.2736 or double test of 1.2748. Target: 1.2776 (resistance) or 1.2809.
- Selling Opportunities: False breakout around 1.2776 or double test of 1.2770. Target: 1.2736 (support) or 1.2695.
Japanese Yen (USD/JPY):
- Overall Trend: Downward pressure with potential for further decline.
- Support Levels: 154.68, 153.85
- Resistance Levels: 155.25, 156.17, 156.49
- Buying Opportunities: Double test of 154.68. Target: 155.25 (resistance) or 156.17.
- Selling Opportunities: Break below 154.68 with confirmation or double test of 155.25. Target: 154.68 (support) or 153.85.
Australian Dollar (AUD/USD):
- Overall Trend: Downward pressure due to weak Australian data.
- Support Levels: 0.6641, 0.6603
- Resistance Levels: 0.6692, 0.6730
- Buying Opportunities: Limited opportunities today due to weak data.
- Selling Opportunities: Bear sell with potential support at 0.6603
Canadian Dollar (CAD/USD):
- Overall: Sideways movement with potential downward bias.
- Support: 1.3602, 1.3574, 1.3488
- Resistance: 1.3700
- Buying Opportunities: Limited opportunities today.
- Selling Opportunities: Possible weakening of USD/CAD to 1.3602, further down to 1.3574 or 1.3488 with strong momentum.
Swiss Franc (USD/CHF):
- Overall Trend: Sideways with potential for weakness.
- Support Levels: 0.8926, 0.8893
- Resistance Levels: 0.8983, 0.9016
- Buying Opportunities: Limited opportunities today due to sideways movement.
- Selling Opportunities: Break below 0.8926 with confirmation. Target: 0.8893 (support).
Gold (XAU/USD):
- Overall Trend: Gold prices recently rose after the US dollar weakened and bond yields declined. Price trading above moving averages hint at a potential trend change from bearish to bullish.
- Support Levels: $2337, $2324, $2307
- Resistance Levels: $2351, $2364, $2395
- Buying Opportunities: Buying opportunities might be found in the support zone around 2336-2340, but confirmation is needed.
- Selling Opportunities: Selling opportunities may exist around $2349-$2350, but with limited downside targets.
Silver (XAG/USD):
- Analysis: Chart shows a potential conflict between bullish and bearish signals.
- Forecast: Silver may see a downward correction towards $29.745.
- Buying Opportunities: A break above $31.292 would invalidate the correction scenario.
- Selling Opportunities: A break below this level could lead to further decline towards $29.216 and potentially $27.787.
Additional factors to consider:
- Global risk sentiment
- Geopolitical events
- Central bank policies
Categories: Market News