1. EUR/USD (Euro/US Dollar)

• Current Trend: Bearish
• Support Levels: 1.1065, 1.1028, 1.1017, 1.0950
• Resistance Levels: 1.1140, 1.1191, 1.1275

Outlook:

• The Euro faces downward pressure due to weak Eurozone economic data. Lower-than-expected GDP revisions and poor industrial output from Germany and France highlight concerns.
• The dollar’s recovery from U.S. economic data further adds to the bearish outlook.
• Key Support: Watch for 1.1065. If broken, further downside to 1.1028 and 1.1017 is possible.
• Key Resistance: A recovery toward 1.1140 could indicate a bounce, but consolidation below 1.1065 suggests continued selling.

Forecast:

• Bearish Outlook for the week with possible dips to 1.0950, especially if U.S. statistics remain strong. However, any break above 1.1140 may signal a shift to bullish momentum.

2. GBP/USD (British Pound/US Dollar)

• Current Trend: Bearish
• Support Levels: 1.3117, 1.3055, 1.2973
• Resistance Levels: 1.3150, 1.3202, 1.3306

Outlook:

• The GBP continues its decline, with the focus on tomorrow’s UK labor market data. A weak report could increase the likelihood of a BoE rate cut, which may further pressure the pound.
• Key Support: 1.3117 is the immediate level to watch, with a break potentially leading to 1.3055.
• Key Resistance: A consolidation above 1.3150 could halt the decline and open room for recovery toward 1.3202.

Forecast:

• Bearish Outlook with the possibility of testing 1.3055. However, better-than-expected labor data could shift sentiment, pushing the pair to 1.3202 and beyond.

3. USD/JPY (US Dollar/Japanese Yen)

• Current Trend: Bearish
• Support Levels: 141.93, 140.22, 137.26
• Resistance Levels: 144.42, 147.17

Outlook:

• The yen is strengthening amid volatility concerns and potential BoJ policy adjustments. Despite no immediate expectations of rate hikes, speculation around the BoJ’s next moves has contributed to yen strength.
• Key Support: 141.93 is crucial, and a break below could lead to further downside toward 140.22.
• Key Resistance: A recovery above 144.42 may indicate a reversal, but only if backed by strong U.S. data.

Forecast:

• Bearish Outlook with potential for further declines toward 140.22. However, a break above 144.42 could signal a shift toward bullish momentum.

4. XAU/USD (Gold)

• Current Trend: Bullish
• Support Levels: 2488, 2471, 2451
• Resistance Levels: 2504, 2526

Outlook:

• Gold has retreated due to the dollar’s strength but remains in a bullish trend amid expectations of softening U.S. inflation. If inflation data is weaker than expected, this would bolster gold as investors anticipate a Fed pause or cut in rates.
• Key Support: 2488 is the immediate level to watch, and a break below could lead to 2471 or even 2451.
• Key Resistance: A consolidation above 2504 will likely open the path for a retest of 2526, where selling pressure may re-emerge.

Forecast:

• Bullish Outlook if gold manages to hold above 2488 and U.S. inflation data disappoints. If sellers take control, expect a drop toward 2451.

Current Trend: Bearish

Key Support Levels: 1.1063, 1.1028, 1.1017

Key Resistance Levels: 1.1100, 1.1159, 1.1191

Forecast: The EUR/USD is currently in a bearish trend. While there is a possibility of a short-term rebound, the overall outlook remains negative. A break below the 1.1017 level could accelerate the decline.

Factors to Watch:

• ECB Monetary Policy: The European Central Bank’s stance on interest rates and quantitative easing will significantly influence the euro’s value.
• Eurozone Economic Data: The strength of the Eurozone economy, particularly compared to the United States, will be a key driver.
• Geopolitical Events: Developments in Europe, such as the ongoing conflict in Ukraine, can impact the euro’s sentiment.