Weekly Technical Analysis & Market Outlook

1–5 September 2025

Table of Contents

• Key Technical Levels This Week
• EURUSD Outlook
• USDJPY Outlook
• GBPUSD Outlook
• AUDUSD Outlook
• USDCAD Outlook
• Gold (XAUUSD) Outlook
• Brent Crude Oil Outlook

Key Technical Levels to Monitor

Instrument	Support	Resistance
EURUSD	1.1500, 1.1400	1.1700, 1.1800
USDJPY	146.50, 144.33	148.75, 150.80
GBPUSD	1.3355, 1.3140	1.3590, 1.3690
AUDUSD	0.6400, 0.6245	0.6500, 0.6565
USDCAD	1.3727, 1.3650	1.3900, 1.3940
Gold (XAUUSD)	3,370, 3,250	3,440, 3,500
Brent Crude	64.70, 60.00	68.88, 71.60

EURUSD Forecast

Outlook:
The recent bullish wave has lost momentum, entering a consolidation phase near its peak. Historically, similar patterns often precede a reversal, especially with macroeconomic data from the eurozone and US due this week (HICP, PMI, GDP, and NFP). We anticipate increased downside pressure.

Technical View:
EURUSD is consolidating around 1.1616. If the pair breaks below 1.1575, a move toward 1.1500 is likely. A temporary bounce from the SMA50 could lead to a correction to 1.1616 before resuming the downtrend towards 1.1390.

Scenarios:

• Bearish (Primary):
  • Wave 1: 1.1500
  • Wave 2: Pullback to 1.1616
  • Wave 3: Drop to 1.1400
  • Wave 4: Correction to 1.1500
  • Wave 5: Target 1.1260
• Bullish (Alternative):
  Sustained consolidation above 1.1700 could fuel gains toward 1.1800.

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USDJPY Forecast

Outlook:
The pair remains range-bound, driven by Fed expectations and US-Japan economic data. High US yields support the dollar, while the yen may gain if risk sentiment worsens or intervention risks rise from Japan’s MoF.

Technical View:
USDJPY is consolidating around 147.50 with an extended range of 146.20–148.77. A breakdown could target 144.33, while a bounce and break above 148.00 may trigger upside toward 150.80 and beyond.

Scenarios:

• Bullish (Primary):
  If 146.50 holds and price breaks 148.00, next targets are 150.80 and 153.15.
• Bearish (Alternative):
  A break below 146.50 may push the pair toward 144.33.

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GBPUSD Forecast

Outlook:
The pound is under pressure from BoE rate expectations, while strong labor data offers limited support. US dollar strength and upcoming NFP may influence direction. Volatility may also arise from external geopolitical risks.

Technical View:
GBPUSD is consolidating around 1.3500. An upside breakout could target 1.3600, while a drop below 1.3355 may send the pair towards 1.3140 and lower.

Scenarios:

• Bearish (Primary):
  • Target 1: 1.3140
  • Break below opens path to 1.3000 and 1.2695
• Bullish (Alternative):
  Sustained move above 1.3600 targets 1.3660, 1.3800, 1.4000, and possibly 1.4160.

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AUDUSD Forecast

Outlook:
AUD remains supported by positive domestic data but pressured by USD strength and global risk factors. Commodity prices, especially metals, remain key drivers.

Technical View:
AUDUSD consolidates near 0.6500. A short-term move toward 0.6555–0.6600 is possible, followed by a potential decline to 0.6400 or lower.

Scenarios:

• Bearish (Primary):
  • 0.6400: Key pivot
  • 0.6245: Target of the third wave
  • 0.6190: First major wave target
• Bullish (Alternative):
  Above 0.6550, next targets are 0.6820, 0.6870, and 0.6969.

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USDCAD Forecast

Outlook:
The US dollar benefits from strong yields, while oil prices stabilize CAD. Focus will be on US NFP and Canadian economic signals.

Technical View:
USDCAD continues a corrective upswing. Support at 1.3727 may lead to a move toward 1.3940 before a possible resumption of the broader downtrend.

Scenarios:

• Bullish (Primary):
  Consolidation above 1.3700 and breakout of 1.3800 could target 1.3940.
• Bearish (Alternative):
  If correction ends near 1.3911, downside targets include 1.3700, 1.3600, and 1.3500.

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Gold (XAUUSD) Forecast

Outlook:
Gold remains supported by USD weakness and geopolitical concerns. Market participants await NFP and inflation data for further direction.

Technical View:
Support is firm around 3,370 (with SMA50), and a move to 3,433 is expected. A breakout may lead to 3,474. However, the symmetrical triangle pattern suggests the risk of a larger correction.

Scenarios:

• Bearish (Primary):
  A break below 3,370 may lead to 3,250 and further to the 3,050–3,040 correction zone.
• Bullish (Alternative):
  Consolidation above 3,440 opens upside to 3,500 and possibly 3,535.

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Brent Crude Oil Forecast

Outlook:
Oil prices are driven by supply-demand dynamics, geopolitical risks, and OPEC+ actions. Near-term volatility likely as inventories and global macro data unfold.

Technical View:
Brent found support near 66.35 and rebounded toward 68.88. A correction to 66.66 may follow before an attempt to reach 71.60. A break below 64.00 may signal deeper losses.

Scenarios:

• Bullish (Primary):
  If support at 66.60 holds and 68.88 is cleared, targets include:
  • 71.60
  • 75.00
  • 78.30 (fifth wave target)
• Bearish (Alternative):
  A breakdown below 64.00 increases pressure toward the 60.00 support level.

Disclaimer: Past performance is not indicative of future results. All forecasts are based on current technical setups and are subject to change based on market developments.