The US Non-Farm Payrolls report will be the main driver of market sentiment today. A strong number could strengthen the USD across the board, while a weak number could trigger a broader dollar sell-off. Geopolitical events, economic data releases, and industry-specific news can significantly impact the price of oil, gold, and cryptocurrencies.

EUR/USD:

• Technical analysis: Leaning bearish, with potential for a decline towards 1.0462. Resistance at 1.0880. Key level to watch: 1.0849 (resistance).
• Fundamentals: Mixed. Eurozone services PMI improved, but ECB may still consider rate cuts due to falling inflation.
• Forecast: Short-term downside possible, but data-dependent. Break above 1.0880 could signal a temporary pause in the downtrend.

GBP/USD:

• Technical analysis: Uncertain. Stuck in a horizontal range between 1.2039 and 1.3140. Key level to watch: 1.0849 (resistance).
• Fundamentals: Weak dollar could provide support, but overall outlook unclear.
• Forecast: Rangebound trading likely until a clearer direction emerges.

USD/JPY:

• Technical analysis: Mixed signals. Resistance at 151.76, support at 151.67.
• Fundamentals: Hawkish Fed comments could support USD, but strong US data might not be enough to push prices much higher.
• Forecast: Limited upside potential. Watch for data-driven volatility.

AUD/USD:

• Technical analysis: Bullish. Resistance at 0.6628, support at 0.6554. Key level to watch: 0.6600 (resistance).
• Fundamentals: Weak dollar and dovish RBA minutes support AUD.
• Forecast: Further upside possible if US data disappoints. Break above 0.6600 could open the door to a test of 0.6700.

CHF/USD:

• Technical analysis: Mixed signals. Resistance at 0.9074, support at 0.9005.
• Fundamentals: Lower Swiss inflation raises expectations of another SNB rate cut, which could weaken CHF.
• Forecast: Potential downside if US data is strong and reinforces expectations of a hawkish Fed. Watch for data-driven volatility.

Oil (USCrude):

• Trend: Short-term consolidation with a bearish bias.
• Key Levels:
  • Resistance: 84.98 – 84.65 (Gold Zone)
  • Support:  82.37 – 82.04,  80.72 – 80.23
• Forecast: Oil is likely to decline towards support in the near term. If support holds, a bounce back to yesterday’s high is possible. A confirmed break below supportcould lead to further decline towards support.

Gold (XAUUSD):

• Trend: Bullish with a potential pullback.
• Key Levels:
  • Resistance: 2328 – 2323 (Gold Zone 2)
  • Support: (A) 2260 – 2256, (B) 2238 – 2232
• Forecast: Gold is likely to experience a correction towards support levels before resuming its uptrend. A confirmed break below support  could signal a trend reversal.

Cryptocurrencies:

• Bitcoin (BTCUSD): Short-term correction within a larger bullish trend. Forecast: Bitcoin is expected to decline towards 62,338.54 in the near term. A break below this level could indicate further weakness.
• Ethereum (ETHUSD): Short-term correction within a larger bullish trend. Forecast: Ethereum is expected to decline towards 3,054.42 in the near term. A break below this level could indicate further weakness.
• Ripple (XRPUSD): Short-term correction within a larger bearish trend. Forecast: Ripple is expected to decline towards 0.537 in the near term. A break below this level could indicate further decline.

Important factors to consider today:

• US Non-farm Payrolls report: A strong report could boost the USD and impact other currencies.
• US economic data: Jobless claims, trade balance data will be released.
• FOMC member speeches: Their stance on interest rates could affect the USD.