FXStreet's Weekly Forex Forecast Points to Volatility in Key Currency Pairs
FXStreet's weekly forex forecast provides insights into major currency pairs and cryptocurrencies. The EUR/USD pair is expected to face resistance at 1.12, while support lies at 1.10. In contrast, XAU/USD (Gold) may see increased buying interest due to its inverse correlation with the US dollar.
The GBP/USD pair is predicted to trade within a narrow range between 1.30 and 1.32. Meanwhile, USD/JPY is expected to test its resistance at 110. The forecast also touches on Bitcoin, noting that it may experience volatility due to its price fluctuations.
It's essential for investors to conduct thorough research before making any investment decisions, as the forex market involves significant risks, including potential losses of principal and emotional distress.