Weekly forex forecast – EUR/USD, XAU/USD, XAG/USD, Oil [Video]

John Fortune Get Me Trading

Forex pairs & markets covered in this week’s Weekly Forex Forecast:

USD (DXY), EUR, GBP, CHF, JPY, CAD, AUD & NZD.

Crude Oil, EUR/USD, GBP/JPY, AUD/JPY, EUR/JPY, GBP/CAD, AUD/CAD, EUR/CAD, GBP/NZD, AUD/NZD, EUR/NZD.

Gold analysis - XAU/USD.

Silver analysis - XAG/USD.

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.

EUR/USD struggles for direction around 1.1800

EUR/USD is churning around the 1.1800 area on Thursday, struggling to find direction in response to modest gains in the US Dollar. Earlier on Thursday, the ECB matched consensus and left its policy rates unchanged, while President Largarde delivered quite a neutral press conference.

GBP/USD loses the grip, back to 1.3550

GBP/USD extends Wednesday’s pullback on Thursday, drifting down towards two-week lows around the 1.3550 zone. Further improvement in the Greenback and the dovish hold by the BoE at its meeting earlier in the day kept the demand for the British Pound subdued for now.

Gold meets resistance near $5,000

Gold is back under pressure on Thursday, retreating to the $4,800 region per troy ounce against the backdrop of the firmer US Dollar and despite the prevailing risk-off sentiment. In addition, declining US Treasury yields across the curve seem to limit the sell-off for now.