Here is the weekly forex forecast for DXY, EURUSD, GBPUSD, AUDUSD, and NZDUSD from September 2-6, 2024.
The US Dollar Index (DXY) is expected to experience some volatility this week as economic data releases and geopolitical events impact the currency. Traders should keep an eye on key levels and support/resistance levels to make informed trading decisions.
EURUSD is likely to remain range-bound as market participants await the European Central Bank’s monetary policy decision. Any surprises in the statement could lead to increased volatility in the pair.
GBPUSD is also expected to be influenced by Brexit developments and economic data releases. Traders should pay attention to any updates on the UK’s exit from the European Union as it could impact the value of the British Pound.
AUDUSD and NZDUSD could experience some volatility as market sentiment shifts based on global economic conditions. Traders should monitor commodity prices and trade tensions to gauge the strength of the Australian and New Zealand Dollars.
Overall, traders should practice caution and implement risk management strategies to navigate the forex markets during this period. Stay informed and make informed trading decisions based on the latest news and developments.