FxAnalysis

Weekly outlook covering USD pairs, gold and silver, highlighting technical levels, trends and potential breakout opportunities.

The US Dollar (USD) resumed its yearly downtrend this week, slipping back to two-week troughs just to bounce back a tad in the second half of the week.

The Pound Sterling (GBP) failed to resist at higher levels against the US Dollar (USD), but buyers held their ground amid a US data-busy blockbuster week.

Some impressive US data should have resulted in a much stronger USD. Well, it didn’t happen.

Gold (XAU/USD) started the week on a bullish note and climbed above $5,000 before declining sharply and erasing its weekly gains on Thursday, only to recover heading into the weekend. Investors await growth and business activity data from the US, while keeping an eye on the broad market mood.

The US dollar is testing key support at the 152-yen level and the 200-day EMA, with Friday’s CPI data likely to determine the next major move in USD/JPY.