EUR/USD, GBP/USD, USD/JPY, Gold, Silver, Oil Weekly Technical Outlook
EUR/USD:
The EUR/USD pair is currently trading in a range between 1.1700 and 1.1900. If the pair breaks above 1.1900, it could potentially target the 1.2000 level. On the other hand, a break below 1.1700 may lead to a test of the 1.1600 support level.
GBP/USD:
The GBP/USD pair has been trading in a downtrend, with resistance seen around the 1.3200 level. If the pair breaks above this level, it could target the 1.3300 level. However, a break below the 1.3000 support level may lead to further downside towards the 1.2900 level.
USD/JPY:
The USD/JPY pair is currently consolidating between 105.00 and 107.00. A break above 107.00 could potentially target the 108.00 level. Conversely, a break below 105.00 may lead to a test of the 104.00 support level.
Gold:
Gold prices have been trading in a range between $1900 and $2000. A break above $2000 could see prices target the $2050 level. On the other hand, a break below $1900 may lead to a test of the $1850 support level.
Silver:
Silver prices have been consolidating between $24 and $26. A break above $26 could potentially target the $27 level. Conversely, a break below $24 may lead to a test of the $23 support level.
Oil:
Oil prices have been trading in a range between $40 and $42. A break above $42 could see prices target the $45 level. On the other hand, a break below $40 may lead to a test of the $38 support level.
Overall, the technical outlook for these major currency pairs and commodities suggests potential opportunities for traders to capitalize on upcoming price movements. It is important to closely monitor key levels and be prepared for potential breakouts in the coming week.