USD/JPY continues to consolidate within a tight 112-pip range, currently trading at 147.67, as the pair remains bounded by key moving averages on the 4-hour chart. The 100-bar MA at 147.90 has consistently capped upside attempts on Monday and Friday, while the 200-bar MA at 146.78 provided solid support on Tuesday, Thursday, and again today. This technical pattern suggests indecision among traders as they await fresh catalysts for directional momentum. The pair's inability to break above the 100-bar MA indicates persistent selling pressure at higher levels, while support at the 200-bar MA demonstrates underlying demand. Heading into next week, these moving averages will remain critical levels for determining bias and risk management. A decisive break above 147.90 could target 148.50, while failure below 146.78 might accelerate declines toward 146.00.
USDJPY
Sentiment:
Negative
Source: Finnhub
The dollar index retreated 0.22% today, though it remains above Thursday's 1.5-week low, as President Trump's nomination for Fed Governor sparked market uncertainty. The greenback faced additional pressure from robust equity market performance, which reduced safe-haven demand for the US currency. Stock market strength typically diminishes liquidity demand for dollars as investors rotate into risk assets. The nomination news has raised questions about potential shifts in monetary policy direction, contributing to dollar weakness across major pairs. Market participants are evaluating how new Fed leadership might influence interest rate decisions and overall policy stance. Technical analysis shows the dollar index testing near-term support levels, with traders closely monitoring Fed-related developments. The combination of strong equities and Fed uncertainty suggests continued pressure on the dollar in the near term.
DXY
Sentiment:
Negative
Source: Marketaux
USD/CHF experienced volatile price action this week, initially declining to test the 200-hour MA before recovering on news of Trump administration tariffs on Switzerland. The pair's subsequent price movement has been characterized by multiple reversals as buyers and sellers battle for control. The tariff announcement provided temporary support for USD/CHF, highlighting the impact of trade policy on currency valuations. Technical indicators show the pair caught between competing forces, with neither bulls nor bears able to establish clear dominance. The 200-hour MA continues to act as a pivotal level, with price reactions at this threshold determining short-term direction. Market uncertainty surrounding US-Switzerland trade relations adds complexity to the technical picture. Traders should monitor both technical levels and trade policy developments for directional cues in the coming sessions.
USDCHF
Sentiment:
Neutral
Source: Finnhub
Global forex markets experienced heightened volatility as traders balanced concerns over escalating trade tensions against growing expectations for a Federal Reserve rate cut in September. The persistent uncertainty surrounding trade tariffs has created risk-off sentiment, traditionally supporting safe-haven currencies like JPY and CHF. However, firm hopes for Fed monetary easing have simultaneously pressured the US dollar, creating complex cross-currents in major pairs. Market participants are pricing in a high probability of a 25-basis-point cut at the September FOMC meeting, based on recent economic data and Fed communications. The conflicting forces of trade uncertainty and monetary policy expectations have resulted in choppy trading conditions across currency markets. Traders are advised to maintain flexible positioning as these dual themes continue to drive price action, with particular attention to Fed officials' comments and trade negotiation developments.
DXY
USDJPY
USDCHF
Sentiment:
Neutral
Source: Marketaux
The US dollar faces additional pressure as India suspends plans to purchase approximately $3 billion in US defense equipment, including Boeing P-8I aircraft, Stryker vehicles, and Javelin missiles. India's defense minister has canceled his scheduled US visit, signaling deteriorating trade relations between the two nations. The pause comes as India awaits clarity on potential US tariffs and broader trade policy developments under the current administration. This geopolitical tension adds to existing dollar weakness, with USD/INR potentially vulnerable to further downside if trade disputes escalate. The development could impact broader USD pairs as markets reassess US trade relationships and their effect on dollar demand. Traders should monitor upcoming trade negotiations and any retaliatory measures from India, which could include diversifying away from dollar-denominated transactions or seeking alternative defense suppliers from Europe or Russia.
USDINR
Sentiment:
Negative
Source: Finnhub
Sterling and the Australian dollar are bucking their typical seasonal patterns, with GBP/USD advancing 0.4% to 1.2750 and AUD/USD climbing 0.5% to 0.6580 amid broad-based dollar weakness. Traditionally, both currencies face headwinds during this period, but disappointing US economic data has shifted the dynamic, pressuring the greenback across the board. Recent US indicators, including softer manufacturing PMI and cooling labor market data, have fueled expectations for more aggressive Federal Reserve rate cuts. Technical analysis shows GBP/USD breaking above its 50-day moving average at 1.2720, targeting resistance at 1.2800. AUD/USD has cleared the 0.6550 psychological level, with next resistance at 0.6600. The seasonal divergence suggests strong underlying momentum against the dollar, though traders should remain cautious of potential reversals if US data improves or risk sentiment deteriorates.
GBPUSD
AUDUSD
Sentiment:
Positive
Source: Marketaux
USD/CAD has declined 0.6% to 1.3650 following reports that President Trump's nominee for Federal Reserve Governor has indicated support for a more accommodative monetary policy stance. The nominee's dovish comments during preliminary discussions suggest potential for faster rate cuts than currently priced by markets, weighing heavily on the dollar. Canadian dollar strength is further supported by stable oil prices around $78 per barrel and expectations of steady Bank of Canada policy. Technical indicators show USD/CAD breaking below the 1.3700 support level, with the 200-day moving average at 1.3620 now in focus. The pair's momentum indicators have turned bearish, with RSI dropping below 40. Traders are positioning for potential further downside toward 1.3600 if Friday's Canadian employment data exceeds expectations, though any hawkish Fed surprises could trigger a relief rally.
USDCAD
Sentiment:
Negative
Source: Marketaux
USD/CAD is trading in a tight range around 1.3700, with traders awaiting Friday's crucial employment reports from both the US and Canada. The pair has established a bullish technical setup on the daily chart, with a ascending triangle pattern suggesting potential upside toward 1.3800. However, near-term direction remains uncertain as markets digest mixed signals from both economies. US jobless claims rose unexpectedly to 235K last week, while Canadian manufacturing data showed modest improvement. The pair faces immediate resistance at 1.3720 (50-day moving average) and support at 1.3680 (recent swing low). Volume has declined 20% this week, indicating hesitation ahead of the employment releases. A strong Canadian jobs report could push the pair toward 1.3650, while disappointing data might trigger a breakout above 1.3750, targeting the 1.3800 psychological level.
USDCAD
Sentiment:
Neutral
Source: Marketaux
Major currency pairs are showing minimal movement in European morning trade, with EUR/USD hovering around 1.0950, GBP/USD at 1.2720, and USD/JPY near 149.50. Trading volumes are down 30% from weekly averages as participants adopt a cautious stance ahead of the weekend. The subdued price action reflects a lack of fresh fundamental drivers and position squaring ahead of next week's heavy economic calendar. Implied volatility indicators have dropped to monthly lows across G10 pairs, suggesting range-bound conditions likely to persist. Technical analysis shows most majors trading within their 5-day average true ranges, with neither bulls nor bears showing conviction. Traders are particularly focused on next week's US CPI data and ECB policy meeting, which could provide the catalyst for directional moves. Until then, tight ranges and choppy price action are expected to dominate.
EURUSD
GBPUSD
USDJPY
Sentiment:
Neutral
Source: Marketaux
EUR/USD is challenging the crucial 1.1700 resistance level, marking a significant technical test that could determine the pair's near-term direction. The euro has gained momentum against the dollar, driven by improving Eurozone economic sentiment and expectations of continued ECB policy normalization. The 1.1700 level represents a key psychological barrier and previous support-turned-resistance from earlier trading periods. Technical indicators suggest increasing bullish pressure, with the RSI approaching overbought territory at 68. A decisive break above 1.1700 could open the path toward 1.1750 and potentially 1.1800, while failure to breach this level may trigger a pullback to support at 1.1650. Traders are closely monitoring upcoming Eurozone inflation data and any shifts in Federal Reserve rhetoric that could impact dollar strength. The current setup presents a critical inflection point for EUR/USD positioning.
EURUSD
Sentiment:
Positive
Source: Marketaux
Gold spot prices remain stable near $2,420 per ounce despite a notable surge in COMEX futures, creating an unusual price divergence between US and international markets. The discrepancy stems from unexpected US tariff announcements that have caught traders off guard, effectively making gold more expensive in the US market compared to overseas exchanges. COMEX futures have jumped 0.8% while London Metal Exchange (LME) prices show minimal movement, highlighting the regional impact of trade policies. This divergence typically signals temporary market inefficiency that arbitrageurs may exploit. The tariff-induced premium in US gold futures could pressure dollar strength, potentially benefiting commodity currencies like AUD and CAD. Technical analysis shows COMEX futures testing resistance at $2,445, while spot gold maintains support at $2,410. Traders should monitor whether this spread narrows through arbitrage activity or persists as a new market dynamic.
XAUUSD
Sentiment:
Positive
Source: Finnhub
The US dollar index gained 0.4% in Asian trading following the announcement of new tariffs on strategic gold bar imports, pressuring regional currencies and commodity-linked pairs. The surprise trade measure sparked risk-off sentiment, with AUD/USD dropping 0.6% to 0.6520 and NZD/USD falling 0.5% to 0.5885 as commodity currencies weakened. USD/JPY advanced 0.3% to 150.25 as the dollar benefited from safe-haven flows despite gold's traditional haven status. The tariff announcement particularly impacted Asian exporters, with USD/CNH rising 0.4% above 7.2800. Gold prices initially spiked 1.2% before paring gains as traders assessed the implications for global trade flows. Technical indicators suggest further USD strength, with the DXY approaching resistance at 106.50. The move adds another layer of uncertainty to global markets already concerned about trade tensions, potentially supporting continued dollar strength against risk-sensitive currencies in the near term.
AUDUSD
NZDUSD
USDJPY
USDCNH
Sentiment:
Positive
Source: Marketaux
XAU/USD is experiencing heightened volatility as new US tariffs on Swiss kilo and 100-ounce gold bars threaten COMEX delivery mechanisms. These specific formats are crucial for physical settlement on the exchange, and the tariff implementation is creating significant stress on gold market infrastructure. The restrictions could lead to delivery bottlenecks and price dislocations between spot and futures markets, potentially forcing XAU/USD lower as market participants reassess liquidity risks. Swiss gold refiners, who dominate global production of these standardized bars, may need to redirect supply chains, further complicating market dynamics. Technical indicators suggest XAU/USD could test support at $2,650 if delivery concerns escalate, while resistance remains at $2,700. Traders should monitor COMEX inventory levels and basis spreads closely, as widening differentials could signal deepening market stress and trigger further USD strength against gold.
XAUUSD
Sentiment:
Very Negative
Source: Finnhub
USDJPY continues to trade within its critical moving average range, showing indecision as traders await clearer directional signals. The pair has been oscillating between key technical levels, with the 100-day and 200-day moving averages acting as dynamic support and resistance zones. Current price action suggests a period of consolidation following recent volatility in both the dollar and yen markets. The Japanese currency has found support from ongoing Bank of Japan policy normalization expectations, while the dollar receives mixed signals from US economic data. Technical indicators point to a neutral stance, with momentum oscillators showing neither overbought nor oversold conditions. Traders are closely monitoring the range boundaries, as a decisive break above or below the moving average convergence could signal the next major directional move. Near-term resistance sits at the upper moving average band, while support is established at the lower boundary of the current trading range.
USDJPY
Sentiment:
Neutral
Source: Finnhub
EUR/USD maintains its position around mid-1.1600 levels, showing resilience despite cautious bull sentiment following weaker US labor market data. Initial jobless claims unexpectedly increased, signaling potential softening in the US employment sector and weighing on dollar strength. The pair has found support above the 1.1600 psychological level, though upward momentum remains limited as traders await further economic catalysts. Technical indicators suggest a mild bullish bias, with immediate resistance seen at 1.1650 and solid support established at 1.1580. The weakening US economic indicators, particularly in the labor market, continue to undermine dollar bulls while providing underlying support for the euro. Traders are closely monitoring upcoming US economic releases and any shifts in Federal Reserve policy expectations that could influence the pair's trajectory in the near term.
EURUSD
Sentiment:
Positive
Source: Marketaux
The US dollar index has softened 0.2% to 104.85 as markets digest the increasing likelihood of Federal Reserve Governor Christopher Waller becoming the next Fed Chair. Waller, known for his pragmatic approach to monetary policy, could potentially signal a shift in Fed dynamics if appointed. His nomination would create two vacant Governor positions, potentially allowing for fresh perspectives on the FOMC. Currency traders are reassessing USD positions as this development could influence the Fed's future policy trajectory. The appointment process typically generates market volatility as investors analyze potential policy implications. Technical indicators show the DXY testing support at 104.80, with resistance at 105.20. A confirmed appointment could trigger repositioning across major USD pairs, particularly EUR/USD and USD/JPY, as markets price in potential policy shifts under new leadership.
EURUSD
USDJPY
DXY
Sentiment:
Neutral
Source: Finnhub
EURUSD has maintained its bullish momentum, with technical analysis revealing favorable conditions for continued appreciation. The pair is trading above key moving averages and has formed constructive chart patterns that suggest further upside potential. Recent price action shows the euro building on its gains against the dollar, supported by improving risk sentiment and technical breakouts. Gold's parallel strength indicates broader dollar weakness, while equity markets like Nvidia show resilience that supports risk-on currency flows. The technical setup points to immediate resistance near recent highs, with momentum indicators confirming the bullish bias. Support levels have been established at previous resistance zones, now acting as floors for any pullbacks. Traders are positioning for continuation patterns, with the next major resistance target likely to attract profit-taking. The overall technical structure remains constructive for euro bulls, though overbought conditions on shorter timeframes suggest possible consolidation before the next leg higher.
EURUSD
Sentiment:
Positive
Source: Marketaux
USDJPY continues to exhibit bearish characteristics as volatility conditions favor the Japanese yen's safe-haven appeal. The pair has been under persistent selling pressure, with technical indicators confirming the downward trajectory. Current market dynamics show the yen benefiting from its traditional role during uncertain market conditions, while the dollar struggles despite mixed economic signals. The Dollar Index futures reflect broader greenback weakness, adding to the bearish case for USDJPY. Technical analysis reveals strong resistance overhead, with previous support levels now acting as barriers to any recovery attempts. Momentum oscillators remain in negative territory, suggesting the path of least resistance remains lower. Key support levels are being tested, and a break below could accelerate the decline toward the next major technical targets. Traders are maintaining bearish positions, with volatility metrics supporting continued yen appreciation against the dollar in the near term.
USDJPY
Sentiment:
Very Negative
Source: Marketaux
EURUSD has posted an impressive 2.3% gain since the beginning of August, breaking above the significant 1.1670 resistance level in a strong bullish move. The pair's rally represents approximately 270 pips of appreciation, marking one of the euro's strongest monthly starts against the dollar in recent quarters. The sustained buying pressure has pushed the exchange rate into new trading ranges, with bulls firmly in control of the near-term trajectory. Technical breakouts above previous resistance zones have attracted momentum traders, while fundamental factors including diverging central bank policies support the move. The 1.1670 level, previously a formidable resistance, now serves as initial support for any pullbacks. Market participants are eyeing the next psychological target at 1.1700, with further resistance expected near 1.1750. The rapid appreciation has pushed momentum indicators into overbought territory, suggesting possible consolidation, though the overall trend remains decidedly bullish for the euro.
EURUSD
Sentiment:
Very Positive
Source: Marketaux
Global forex markets are experiencing improved risk sentiment driven by positive earnings releases, Federal Reserve policy expectations, and constructive trade tariff developments. The combination of factors has created a supportive environment for risk-sensitive currencies while pressuring traditional safe havens. Corporate earnings have exceeded expectations across multiple sectors, boosting equity markets and supporting carry trade currencies. Traders are increasingly optimistic about potential Fed policy adjustments that could impact dollar strength in coming months. Trade tariff negotiations show progress, reducing geopolitical tensions and supporting global growth currencies. The improved sentiment is reflected in currency pair movements, with high-yielding currencies gaining ground against defensive plays. Market positioning suggests continued risk-on flows barring any unexpected negative developments. Technical indicators across major pairs align with the fundamental backdrop, showing momentum building in risk-positive directions. Traders should monitor upcoming economic data releases that could either reinforce or challenge the current optimistic market narrative.
USDCAD
Sentiment:
Positive
Source: Marketaux
