The US dollar might strengthen due to potential Fed rate cuts. Gold is expected to remain bullish in the long term despite a possible short-term correction. GBP and EUR might weaken but short-term movements are uncertain.

Gold (XAUUSD)

• Overall Trend: Bullish
• Key Points:
  • Recent record highs above $2,220
  • Short-term correction possible but unlikely to be significant
  • Investors see gold as a safe haven due to geopolitical tensions and potential Fed rate cuts
• Support Levels: $2,164.00, $2,146.00, $2,100.00 (important), $2,002.00 (medium-term)
• Resistance Levels: $2,200.00, $2,210.00, $2,220.00, $2,250.00, $2,300.00 (long-term)

Euro (EUR/USD)

• Overall Trend: Uncertain (mixed signals)
• Key Points:
  • BoE considering rate cuts, which could weaken the Euro
  • Weak US data could strengthen the Euro
• Support Levels: 1.0778, 1.0735
• Resistance Levels: 1.0838, 1.0867, 1.0903

British Pound (GBP/USD)

• Overall Trend: Downward bias
• Key Points:
  • BoE considering rate cuts, which could weaken the Pound
  • Recent data suggests inflation is slowing, potentially leading to earlier rate cuts
• Support Levels: 1.2500/20
• Resistance Levels: 1.2670/90, 1.2892 (unlikely to reach in the short term)

Japanese Yen (JPY/USD)

• Yen Weak: The Yen is currently trading at low levels against the USD (USD/JPY at 151.25).
• BoJ Rate Hike: The Bank of Japan’s recent rate hike did little to strengthen the Yen due to its small scale and dovish comments.
• Intervention Threat: Continued weakness could prompt intervention by the Japanese Ministry of Finance.
• Technical Analysis: USD/JPY is facing resistance at 151.44, with support at 151.02 and 150.58.
• Overall: The Yen is likely to remain weak in the near term, with potential for intervention if it falls further.

Australian Dollar (AUD/USD)

• Slight Gains: The AUD started the week with small gains after Friday’s losses.
• China Factor: AUD/USD weakened on Friday due to a surprise devaluation of the Chinese Yuan.
• Consumer Sentiment: Australian consumer sentiment data is expected to decline on Tuesday.
• Technical Analysis: AUD/USD is testing resistance at 0.6534, with support at 0.6490 and 0.6466.
• Overall: The AUD is facing headwinds from a weaker Chinese Yuan and could see further decline if consumer sentiment data disappoints.

Bitcoin (BTC):

• Currently in a corrective phase within a larger uptrend.
• A potential price increase is expected towards $68,132.08.
• This will likely be followed by a price decline.
• Trading plan: Buy around $67,304 with a target profit of $68,132.

Ethereum (ETH):

• In the midst of an uptrend.
• Currently experiencing a corrective phase.
• Price may reach $3,590.39 before dropping again.
• Trading plan: Buy around $3,500 with a target profit of $3,590.

Ripple (XRP):

• Undergoing a new corrective phase.
• A potential price increase is expected towards $0.649.
• This will likely be followed by a price decrease.
• Trading plan: Buy around $0.631 with a target profit of $0.649.