Weekly Forex forecast: EUR/USD, XAU/USD, GBP/USD, USD/JPY, Bitcoin & more

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Join me for my weekly trading plan with this week's forex analysis covering:

DXY, EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/CHF, AUD/USD, NZD/USD

GBP/AUD, GBP/CAD, GBP/NZD, NZD/CHF, AUD/CHF, EUR/AUD, NZD/JPY, CAD/JPY

Bitcoin analysis - BTC/USD
Ethereum analysis - ETH/USD

Gold analysis - XAU/USD
Silver analysis - XAG/USD
Crude Oil analysis - WTI

Author

John Fortune

Get Me Trading

John Fortune is a professional trader and Head Analyst at Get Me Trading. John has over a decade worth of experience in the Financial Markets and produces a Weekly Forex Forecast covering over 30 markets each weekend.

GBP/USD dips below 1.3350 with bullish momentum losing steam

The British Pound ticks lower against the US Dollar Monday, attempting to close a seven-day rally, as tensions rise again in the Strait of Hormuz, one of the critical points in the peace process between Washington and Tehran. The GBP/USD pair trades near 1.3340 at the time of writing, down from 1.3387 highs last week, although it maintains a near-term bullish trend intact.

EUR/USD trims losses, back to 1.1430

EUR/USD remains under pressure on Monday, although it now manages to trim its earlier losses and return to the 1.1430 zone, down marginally for the day. The pair’s mild pullback comes on the back of modest gains in the US Dollar in quite an apathetic start to the week.

Gold meets resistance around $4,200

Gold comes under fresh downside pressure on Monday, reversing three daily upticks in a row and meeting some initial resistance around the $4,200 mark per troy ounce. Safe-haven demand has shifted toward the US Dollar as renewed tensions surrounding the Strait of Hormuz weigh on market sentiment, limiting the precious metal's upside.

Crypto Today: Bitcoin, Ethereum, XRP pull back amid persistent ETF outflows

The cryptocurrency market is experiencing widespread weakness on Monday, with Bitcoin (BTC) sliding under the $63,000 mark amid ongoing risk aversion.

The US Dollar just beat the Swiss Franc at its own safe-haven game

As the king among safe havens, the Swiss Franc is supposed to benefit from geopolitical shocks such as the Iran war. This time, it didn’t. The Swissie is nearly 6% below January’s peak against the USD after a sharp decline that came along with the war in Iran and the closure of the Strait of Hormuz.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.