In today’s forex forecast, we bring the technical outlook for GBP/USD, USD/CAD, EUR/USD and USD/JPY, with Steven Woodcock, senior FX Analyst for Plutus FX, joined by Nick Batsford, CEO at Tip TV.
Key points:
USD/CAD: mirroring the oil trade, medium-long term upside bias towards 1.50
USD/JPY: Play the range
GBP/USD: Range-bound ahead – News flow not interesting
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Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
![EUR/USD steady below 1.0800 after US PCE meets expectations](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/MoneyEURUSD_2_XtraSmall.jpg)
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
![GBP/USD hovers around 1.2620 in dull trading](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-1078115946_XtraSmall.jpg)
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
![Gold price sits at all-time highs above $2,230](https://editorial.fxstreet.com/images/Markets/Currencies/Crosses/XAUUSD/banknote-and-a-gold-bullion-53019984_XtraSmall.jpg)
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
![Jito price could hit $6 as JTO coils up inside this bullish pattern](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptocurrenciesusd_XtraSmall.jpg)
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
![Key events in developed markets next week](https://editorial.fxstreet.com/images/Macroeconomics/MonetaryPolicy/BOE/bank-of-england-in-london-67968315_XtraSmall.jpg)
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.