Major currencies are expected to weaken against the US dollar due to various factors, including the Federal Reserve’s hawkish stance on interest rates and mixed inflation data in their respective economies.

EUR/USD

• Forecast: Bearish
• Trend: Downward
• Target: 1.0463
• Analysis: The EUR/USD pair is expected to continue its decline due to a lack of progress in reducing inflation in the Eurozone and a hawkish stance from the Federal Reserve.

GBP/USD

• Forecast: Bearish with some uncertainty
• Trend: Downward with a possibility of a correction
• Target: Below 1.2039
• Analysis: The GBP/USD may continue to decline if the market continues to believe that inflation will decrease more than expected. However, a recent rise in UK inflation could lead to a correction in the GBP/USD.

NZD/USD

• Forecast: Uncertain
• Trend: Rebound after a recent slide
• Analysis: The NZD/USD bounced back on a stronger-than-expected inflation report, but the future trend is unclear. The Reserve Bank of New Zealand’s monetary policy decisions will likely depend on upcoming inflation data.

AUD/USD

• Forecast: Uncertain
• Trend: Holding steady after a decline
• Analysis: The AUD/USD is awaiting Australian employment data. A weaker-than-expected report could lead to expectations of a rate cut and put downward pressure on the AUD/USD.

USD/JPY

• Forecast: Uncertain
• Trend: Intraday range trading
• Analysis: The USD/JPY is likely to remain range-bound in the absence of significant economic data or intervention from the Bank of Japan.

Gold (XAU/USD)

• Forecast: Bearish
• Trend: Uptrend with potential correction
• Target: 2,300
• Analysis: Gold is likely to face a technical correction in the near future. A break below $2,400 or 6/8 of Murray could be a sell signal.

Ethereum (ETH/USD)

• Forecast: Bearish
• Trend: Downtrend
• Target: 2,812
• Analysis: Ethereum is expected to continue its decline in the near term. A break below $3,125 could be a sell signal.