This week’s forecast looks at the EUR/USD, USD/JPY, GBP/USD, Gold, and S&P 500 Index. Let’s dive in to see what the charts are showing.
EUR/USD: The EUR/USD pair is currently trading in a range between 1.1750 and 1.1850. If the pair breaks above 1.1850, it could potentially reach 1.1900. On the other hand, if it breaks below 1.1750, it may test support at 1.1700.
USD/JPY: The USD/JPY pair is trading around the 110.00 level. If the pair breaks above 110.20, it could target 110.50. However, if it drops below 109.80, it may test support at 109.50.
GBP/USD: The GBP/USD pair is currently trading near 1.3800. If the pair breaks above 1.3850, it could potentially reach 1.3900. Conversely, if it breaks below 1.3750, it may test support at 1.3700.
Gold: Gold is currently trading around $1,800. If gold breaks above $1,810, it could target $1,820. On the other hand, if it drops below $1,790, it may test support at $1,780.
S&P 500 Index: The S&P 500 Index is trading near 4,400. If the index breaks above 4,420, it could potentially reach 4,450. However, if it drops below 4,380, it may test support at 4,350.
Overall, traders should keep a close eye on these levels and pay attention to any potential breakout or reversal patterns in the coming week.