Daily Analysis

[Zforex]

EUR/USD Hovers Around 1.0750, Awaits Economic Data for Direction

The EUR/USD pair is currently fluctuating around the 1.0750 support level as the economic calendar is free for today and market participants await the influx of economic data starting tomorrow. Whether the pair recovers towards 1.0850 or falls back towards 1.0660 will depend on the upcoming economic data and events this week.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1000	1.0900	1.0850	1.0750	1.0660	1.0600

GBP/USD Consolidates at 1.2500, Dollar Strength Affects Recovery

The GBP/USD pair is currently trading around the 1.2500 mark, having recovered last week but affected by the strengthening of the dollar. While the trend remains bullish, there is potential for the pair to revisit its 1.2700 resistance level.

Resistance 3​	Resistance 2​	Resistance 1​	Support 1	Support 2	Support 3
1.2900​	1.2800​	1.2700​	1.2500	1.2400	1.2300

USD/JPY Rebounds from 142.00 Support, Aiming for 146.60 Resistance

The USD/JPY pair after touching the 142.00 support level is coming back strongly after a change in sentiment and outlook. The 146.60 is the next resistance level.

Resistance 3​	Resistance 2​	Resistance 1​	Support 1​	Support 2​	Support 3​
150.00​	148.00​	146.50​	142.00​	140.00​	137.90​

Gold Retreats to 1979 Support with Dollar Strength, Eyes Market Dynamics This Week

Following Friday's data and a shift in market sentiment, the price of gold is weakening and moving towards its next support level at 1979. The dollar and Treasury yields are exerting negative pressure on gold as they have benefited from the recent economic outlook. However, this week's upcoming economic data and events are likely to redefine market dynamics.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2052​	2036​	2006​	1979​	1960​	1940​

WTI Crude Oil Shows Signs of Recovery, Eyes 72.50 Resistance with OPEC+ Actions

WTI crude oil is exhibiting signs of recovery following seven weeks of continuous selling. The next resistance level is anticipated at 72.90, while a support level of 68 could be established if the downtrend persists. OPEC+ might intensify efforts to support oil prices, while economic conditions in China and other developed countries, such as the US and Europe, could also influence supply forecasts.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80​	78​	72.90​	68​	65​	63​

 

[Zforex]

EUR/USD Pair Hovers Around 1.0750, Awaits US CPI Data for Direction

The EUR/USD pair continues to fluctuate around the 1.0750 support level, awaiting today's CPI data from the US. The impending economic data and events this week will determine whether the pair rises to the 1.0850 level or falls towards 1.0660.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1000	1.0900	1.0850	1.0750	1.0660	1.0600

GBP/USD at 1.2500, Faces Directional Shift with Key Data Release

The GBP/USD pair is currently trading around the 1.2500 mark, having recovered last week but impacted by the strengthening of the dollar. Today's significant data release will either drive the price up towards the 1.2700 resistance level or down towards the 1.2400 support level.

Resistance 3​	Resistance 2​	Resistance 1​	Support 1	Support 2	Support 3
1.2900​	1.2800​	1.2700​	1.2500	1.2400	1.2300

USD/JPY Pauses Near 146.50 Resistance, Awaits US Data for Directional Clarity

The USD/JPY pair is retracing while awaiting US data release today after reaching the resistance level at 146.50. The pair appears to be leaning towards a short-term bearish outlook, but this needs confirmation from underlying fundamentals.

Resistance 3​	Resistance 2​	Resistance 1​	Support 1​	Support 2​	Support 3​
150.00​	148.00​	146.50​	142.00​	140.00​	137.90​

Gold Pauses at $1980 Support, Awaits Data Following Geopolitical Tensions

Gold found support at the $1980 level after two days of sell-off, awaiting today's data for further directional cues. Geopolitical tensions may bolster the price. The current support level represents a significant historical benchmark for gold.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2052​	2036​	2006​	1980​	1960​	1940​

WTI Sees Modest Recovery to $72.90, Bearish Outlook Persists

WTI is recovering toward $72.90 as certain fundamentals and geopolitical factors offer modest support to oil prices. Despite this movement, the outlook remains bearish, as OPEC has not instilled sufficient confidence in the markets regarding supply cuts. The next support level is at $68.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80​	78​	72.90​	68​	65​	63​

 

[Zforex]

EUR/USD Holds Steady Around 1.0750 Ahead of Fed Meeting Following Uncertain CPI Data

The EUR/USD pair, which has lacked a clear direction since the beginning of the week, continues to fluctuate around the 1.0750 support level. This is in anticipation of today's Fed meeting, as yesterday's CPI data did not provide a clear direction. The pair's movement towards either the 1.0850 level or a decline towards 1.0660 will depend on the upcoming economic data and events this week.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1000	1.0900	1.0850	1.0750	1.0660	1.0600

GBP/USD Dips on Disappointing Growth Data, Awaits Fed Statement

The disappointing growth data from today have caused the GBP/USD pair to decline. If the Fed's statement today disappoints, more drops may be observed, even though the market may wait for the next support level at 1.2500.

Resistance 3​	Resistance 2​	Resistance 1​	Support 1	Support 2	Support 3
1.2900​	1.2800​	1.2700​	1.2500	1.2400	1.2300

USD/JPY Awaits 'Big Event' as Minimal Movement Persists, BoJ Sentiment in Focus

The USD/JPY pair, like other major currency pairs, is exhibiting minimal movement today as it waits for the upcoming "big event." The pair's direction will hinge on the fundamental outlook for the dollar and its impact, while also anticipating potential positive sentiment from the Bank of Japan (BoJ) later. Successfully breaching the 142.00 level is crucial for the pair to continue its reversal.

Resistance 3​	Resistance 2​	Resistance 1​	Support 1​	Support 2​	Support 3​
150.00​	148.00​	146.50​	142.00​	140.00​	137.90​

Gold Pauses Near $1980, Awaits Catalysts with Short-Term Bearish Tone

Gold continues to hover around the 1980 level, awaiting further directional cues from today's event. While it appears bearish in the short term, global economic slowdown and geopolitical tensions could support gold in the medium and long term.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2052​	2036​	2006​	1980​	1960​	1940​

WTI Faces Intensifying Selling Pressure, Approaches Critical $68 Support

WTI is selling off again, heading towards the crucial 68 support level. This level is considered a strong support zone for WTI and OPEC members to save the price from more aggressive drops, and a breach could trigger a significant sell-off.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80​	78​	72.90​	68​	65​	63​

 

[Zforex]

EUR/USD Bulls Gain Momentum Post-Fed, Await ECB Meeting for Direction
The EUR/USD made a bullish movement as a result of the falling dollar after the Fed meeting. The 1.0900 is playing as a resistance level now waiting for today's ECB meeting that will impact the pair and especially the euro. A hawkish stance will take the pair back down while a dovish one will help the pair advance toward the 1.1000 area.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1085	1.1000	1.0900	1.0850	1.0750	1.0660

GBP/USD Sees Upside Momentum After Correction
The GBP/USD pair is on the rise again following a correction and the dollar's decline, but today's BoE meeting may introduce volatility. The next targets are 1.2700, followed by 1.2800. A dovish stance from the BoE would aid in reaching these targets, whereas a hawkish tone could negatively impact the pair's performance.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2900	1.2800	1.2700	1.2500	1.2400	1.2300

USD/JPY Experiences Significant Decline, Tests Key Support at 142.00
The USD/JPY pair has benefited significantly from the dollar's decline, experiencing a fall of over 1%, which has favored the yen. Currently, the support level at 142.00 is proving robust, coinciding with the lower boundary of the long-term bullish channel. A breakout from this level would signal a shift for the pair, potentially moving it out of the buying territory.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	137.90

Gold Resumes Bullish Trend, Tests Resistance at $2036
Gold has returned to its bullish movement and is currently at the resistance level of 2036. Financial markets are waiting for today's developments from the Central Bank meetings for further development. If the dovish narrative continues today with the other two central banks, then gold may rely on falling treasuries to make new highs.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2070	2052	2036	2006	1980	1960

WTI Sees Modest Rebound From $68-Support Level with Ongoing Uncertainty
WTI has experienced a slight rebound after hitting the 68-support level. However, a complete reversal may require support from the fundamentals. The current critical level could force OPEC to make a new move, but the general outlook for oil is still unclear.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80	78	72.90	68	65	63

 

[Zforex]

EUR/USD Correction Finds Support at 1.0900 with DXY's Bearish Trend
The EUR/USD experienced a correction on Friday, finding support near the 1.0900 level. The DXY (US Dollar Index) is showing a solid bearish trend, and the possibility of continued selling may persist if upcoming data supports an early rate cut next year.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.10850	1.1000	1.0900	1.0850	1.0750

GBP/USD Finds Support with Hawkish Bank of England (BoE) Stance
The GBP/USD pair, similar to the euro, underwent a correction after reaching the resistance level in the 1.2700 area. The bullish trend remains strong, supported by a hawkish Bank of England (BoE). Overcoming the 1.2700 resistance area will be key for the pair to advance towards the 1.2850 and 1.2930 levels.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2850	1.2700	1.2500	1.2400

USD/JPY Holds Steady at 142.00 Support Level Ahead of Key Events
The USD/JPY pair is maintaining its position at the 142.00 support level, coinciding with the lower boundary of the long-term bullish channel. Markets are anticipating tomorrow's significant events, which could lead to either a continued downward trend or an upward correction.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	137.90

Gold Maintains Bullish Momentum, Eyes 2052 Level Amid Favorable Fundamentals
Gold's bullish trend persists and may extend further from a fundamental viewpoint. The next target is the 2052 level, which precedes a significant historical resistance point. This resistance may not hold if upcoming data further supports the yellow metal.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2100	2070	2052	2036	2006	1980

WTI Shows Signs of Reversal, Bounces from Oversold Levels
WTI is rebounding from oversold conditions, having reached the support level at 68. A reversal pattern is emerging, with 72.90 serving as the neckline of a potential trend reversal.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80	78	72.90	68	65	63

 

[Zforex]

EUR/USD Gains Traction from 1.0900 Support, Faces Resistance at 1.1000
The EUR/USD is rebounding from the 1.0900 support level, awaiting today's CPI data for clearer directional guidance. The EUR/USD pair faces a resistance challenge at 1.1000 for further upward movement. However, this appears less likely given the deteriorating economic outlook for the Eurozone, which is not conducive to strengthening the euro.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.10850	1.1000	1.0900	1.0850	1.0750

GBP/USD Faces Short-Term Pressure, Awaits Breakout Above 1.2800
The GBP/USD pair remains under short-term pressure, even though its long-term outlook is bullish. The next challenge for the pair is to surpass the 1.2800 level. While the hawkish stance of the Bank of England may support the pound, the overall economic outlook for the UK appears unconvincing in bolstering a stronger currency trend.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Corrects from 142.00 Support, Eyes Downside Movement
The USD/JPY pair has corrected from the 142.00 support level and is moving downwards, paralleling the long bullish trend following the Bank of Japan meeting. While the 144.00 resistance level is currently holding, the overall trend remains bearish. However, the market might push the pair further up, depending on the dollar's performance today, especially given the yen's weakness.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	137.90

Gold's Consolidation Continues in the 2020/2040 Range
Gold is fluctuating within the 2020/2040 range, with its directional trend still unclear. Generally, the trend for gold is bullish, and fundamental factors support its potential to climb higher. The next key resistance levels are around 2052 and 2070, which the market aims to surpass in pursuit of reaching a new historical high.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2100	2070	2052	2036	2006	1980

WTI Oil Faces Resistance at 72.90, Indicating Potential Reversal
WTI oil is encountering resistance at the 72.90 level, as the rebound in oil prices hints at a potential reversal. This shift could begin after a breakout above this resistance level, with 78.00 being the next target. The change in momentum is supported by fundamentals that are increasingly favoring oil's upward movement.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80	78	72.90	68	65	63

 

[Zforex]

EUR/USD Tests Resistance at 1.1000 with Data-Driven Uncertainty
EUR/USD is currently encountering a resistance level at 1.1000 that it must surpass to sustain the bullish trend, with the possibility of a retreat to 1.0850 in case of any data-driven weakness. Traders are waiting for the release of the US PCE data, which will help them determine the direction of the pair.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.1085	1.1000	1.0900	1.0850	1.0750

GBP/USD Declines on Surprising CPI Data, Testing Key Support at 1.2500
The GBP/USD pair is currently under pressure following the unexpected decline in today's CPI data. This has prompted a reassessment of the BoE's rate cut expectations for next year, following a hawkish meeting last week. The pair may extend its decline, with 1.2500 emerging as a significant support level.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Faces Solid Bearish Momentum, Eyes Critical Support at 142.00
USD/JPY is still displaying a strong bearish trend, with 142.00 currently serving as a significant confluence point of support. A breakout below this level would likely result in further selling pressure, potentially leading to a decline towards the 138 area.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	138.00

Gold Poised for Bullish Continuation, Next Resistance at 2052
Gold is exhibiting a bullish outlook, with the odds favoring a new high in the coming year. The next resistance levels to watch are 2052, followed by 2070.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2100	2070	2052	2036	2006	1980

WTI Oil Faces Resistance at 72.90, Potential Reversal to 78.00 in Sight
WTI oil is encountering resistance at the 72.90 level, as the rebound in oil prices hints at a potential reversal. This shift could begin after a breakout above this resistance level, with 78.00 being the next target. The change in momentum is supported by fundamentals that are increasingly favoring oil's upward movement.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
80	78	72.90	68	65	63

 

[Zforex]

EUR/USD Awaits Economic Data for Direction, Key Level at 1.1000 for Further Gains
EUR/USD remains directionless, awaiting growth and inflation data that will influence the dollar and determine the pair's price. The 1.1000 level is key for further gains, while a bearish turn could push the pair back to 1.0900, followed by 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.0850	1.1000	1.0900	1.0850	1.0750

GBP/USD Awaits USD Data After Yesterday's Pressure, Faces Resistance at 1.2800
The GBP/USD, pressured yesterday, remains muted today while awaiting USD data for direction. The pair, previously bullish with strong momentum, faces challenges at the 1.2800 resistance level, with new fundamental data curbing the pound's momentum.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Maintains Bearish Trend, Testing Crucial Support at 142.00
USD/JPY is still displaying a strong bearish trend, with 142.00 currently serving as a significant confluence point of support. A breakout below this level would likely result in further selling pressure, potentially leading to a decline towards the 138 area.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	138.00

Gold Sees Consolidation with Uncertainty, Awaits Data for Directional Clarity
Gold, despite a bullish outlook and strong price action, has remained directionless over the past six days. Upcoming data today and tomorrow are expected to influence gold's direction.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2100	2070	2052	2036	2006	1980

WTI Oil Witnesses Reversal, Targets $76 Resistance
WTI oil experiences reversal movement, eyeing $76 as the next resistance level. Despite the recent upswing, the long-term trend remains bearish, with oil prices requiring stronger fundamentals for sustained support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
78	76	72.90	68	65	63

 

[Zforex]

EUR/USD Tests 1.1000 Resistance Ahead of PCE Data
EUR/USD has returned to test the 1.1000 resistance level as we await today's PCE data, which may either facilitate a breakout towards the next target at 1.0850 or lead to a reversion back to 1.0900.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.0850	1.1000	1.0900	1.0850	1.0750

Dollar's Performance to Shape Next Move as GBP/USD Consolidates Near 1.2800
The GBP/USD is currently trading within a narrow range, with the 1.2800 level remaining a key challenge for the pair's upward movement. Today's performance of the dollar will be crucial in determining the direction of this currency pair.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Hovers Around 142.00 Support with Dollar Weakness
The USD/JPY pair is facing difficulties in maintaining support around the 142.00 area, mainly due to unfavorable yen fundamentals. A weakening dollar could potentially drive the pair towards the 138.00 area.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	138.00

Gold Eyes New Highs as It Tests Resistance at 2052
The bullish outlook for gold continues, with the metal currently at the resistance level of 2052 and the 2070 mark appearing achievable for potential new historical highs. Gold's strong fundamentals are supporting its price increase, while today's PCE data from the US will be a key test for this trend.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2100	2070	2052	2036	2006	1980

WTI Oil Gears Up for $76 Resistance Amid Reversal
WTI oil continues its reversal movement, eyeing $76 as the next resistance level. Despite the recent upswing, the long-term trend remains bearish, with oil prices requiring stronger fundamentals for sustained support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
78	76	72.90	68	65	63

 

[Zforex]

EUR/USD Faces Significant Test at 1.1000 Resistance Amid Dollar Weakness
The EUR/USD is once again testing the 1.1000 resistance level with weakened dollar. A breakout beyond this point could potentially lead to an advance towards the next target at 1.0850, while failure to break through might result in a reversion back to the 1.0900 level.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.0850	1.1000	1.0900	1.0850	1.0750

GBP/USD Encounters Resistance at 1.2800, Trades Range-Bound Today
The GBP/USD continues trading within a narrow range with a muted performance today, with the 1.2800 level remaining a key challenge for the pair's upward movement.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Consolidates Near 142.00 Support, Dollar Weakness May Propel Downward Move
USD/JPY is hovering around the 142.00 area and the weakening dollar may help the pair break the support level and drive the pair towards the 138.00 area.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	138.00

Gold Maintains Bullish Momentum, Targets Resistance at 2070 on Strong Fundamentals
The bullish momentum for gold persists, as the metal approaches the resistance level of 2070. Strong fundamentals support the upward movement in gold prices. The optimistic outlook for gold remains intact, suggesting a potential continuation into the next year.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2100	2070	2036	2006	1980

WTI Oil Eyes $76 Resistance in Reversal Movement, Long-Term Trend Remains Bearish
WTI oil continues its reversal movement with a muted movement for today, eyeing $76 as the next resistance level. Despite the recent upswing, the long-term trend remains bearish, with oil prices requiring stronger fundamentals for sustained support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
78	76	72.90	68	65	63