Weekly Technical Analysis and Forecast (3–7 November 2025)
Major Technical Levels to Watch This Week
| Instrument | Support Levels | Resistance Levels |
|---|---|---|
| EURUSD | 1.1515, 1.1240 | 1.1660, 1.1740 |
| USDJPY | 151.50, 149.80 | 154.40, 157.57 |
| GBPUSD | 1.3150, 1.3000 | 1.3250, 1.3500 |
| AUDUSD | 0.6488, 0.6350 | 0.6620, 0.6700 |
| USDCAD | 1.3888, 1.3727 | 1.4020, 1.4160 |
| Gold (XAUUSD) | 3,970, 3,940 | 4,180, 4,380 |
| Brent | 63.00, 61.50 | 69.10, 75.20 |
EURUSD Forecast
The euro remains under pressure amid weak Eurozone macroeconomic indicators, particularly declines in industrial output and Germany’s Ifo Business Climate Index. Expectations of further ECB easing contrast with steady U.S. growth and a hawkish Fed stance, weighing on the single currency. Additionally, geopolitical uncertainties and slowing Chinese demand continue to dampen risk sentiment and limit euro demand.
Technical Analysis
On the daily chart, EURUSD is forming the third wave of a downward impulse, targeting 1.1515 initially. After reaching this zone, consolidation is likely before a potential move toward 1.1240 as the projected minimum of the current wave. A corrective rebound toward 1.1486 may follow; however, the medium-term trend remains bearish.
Forecast Scenarios
- Bearish (Base Case): Continuation of the third downward wave toward 1.1240.
- Bullish (Alternative): A breakout above 1.1660 could pave the way for an advance to 1.1740, potentially signaling the end of the current correction.
EURUSD Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
USDJPY Forecast
USDJPY remains supported by the policy divergence between the Fed and the Bank of Japan. The Fed’s hawkish tone and firm U.S. labor data sustain dollar strength, while the BoJ maintains its ultra-loose policy. Rising U.S. Treasury yields add further tailwinds for the dollar, though short-term corrections may occur amid equity market volatility and Asian geopolitical risks.
Technical Analysis
The pair has confidently broken above 151.90, extending its third upward wave. The next local target lies at 154.40, followed by a potential correction toward 151.90. Once the pullback is complete, the uptrend may resume toward 157.57, with long-term potential to reach 159.62 near the upper wave channel boundary.
Forecast Scenarios
- Bullish (Main): Sustained momentum above 151.82 with targets at 154.30, 157.57, and 159.62.
- Bearish (Alternative): A confirmed break below 151.50 could trigger a correction toward 149.80.
USDJPY Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
GBPUSD Forecast
The British pound remains under pressure from weak Q3 inflation data and expectations of an early Bank of England rate cut. The stronger U.S. dollar, underpinned by higher Treasury yields, limits sterling recovery potential. Markets are now pricing in a likely BoE easing cycle in early 2026.
Technical Analysis
On the daily timeframe, GBPUSD has reached 1.3150, where a narrow consolidation zone is forming. If confirmed, this area could serve as a pivot for the next bearish leg, targeting 1.2800.
Forecast Scenarios
- Bearish (Main): Continuation of the third downward wave toward 1.2800, while below 1.3250.
- Bullish (Alternative): A breakout and sustained move above 1.3250 may lead to a correction toward 1.3500.
GBPUSD Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
AUDUSD Forecast
The Australian dollar faces pressure from soft domestic data and subdued Chinese demand. A dovish RBA stance, along with weaker commodity prices—particularly iron ore—continues to weigh on the currency. Meanwhile, a strong U.S. dollar supported by elevated U.S. yields adds downside risk.
Technical Analysis
The pair remains within a bearish structure, having rejected resistance at 0.6616 (SMA50). Continued downside toward 0.6350 is expected as the main target of the current wave, with potential for a corrective rebound back to 0.6533 afterward.
Forecast Scenarios
- Bearish (Main): Decline toward 0.6350 as the primary objective.
- Bullish (Alternative): A breakout and consolidation above 0.6620 could drive a rally toward 0.6700.
AUDUSD Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
USDCAD Forecast
The Canadian dollar remains sensitive to oil price dynamics and overall market risk appetite. Expectations of a Bank of Canada rate cut in early 2026, alongside a firm U.S. dollar and weak oil prices, support the continuation of the uptrend in USDCAD.
Technical Analysis
The pair rebounded from support near 1.3888 and resumed growth, confirming a pivot at 1.3940. The near-term target lies at 1.4160, followed by a possible correction back to 1.3940. A subsequent advance could extend the third upward wave toward 1.4327.
Forecast Scenarios
- Bullish (Main): A breakout above 1.4020 would open the path to 1.4160 and 1.4327.
- Bearish (Alternative): A breakdown below 1.3880 could lead to a deeper correction toward 1.3727.
USDCAD Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
XAUUSD (Gold) Forecast
Gold remains pressured by strong U.S. yields and a firm dollar, though ongoing geopolitical tensions and central bank demand from emerging markets provide medium-term support. Market attention will focus on key U.S. data releases (ISM, employment) and Fed commentary, which could shape expectations for the first rate cut.
Technical Analysis
Gold is consolidating around 4,020, viewed as a potential pivot level. A decline toward 3,660 remains possible in the short term before a rebound. Once the correction ends, the metal could resume its uptrend toward 4,380, 4,560, and 4,740.
Forecast Scenarios
- Bearish (Main): Consolidation below 4,020 may lead to a drop toward 3,660.
- Bullish (Alternative): A sustained move above 4,020 would signal renewed upside momentum toward 4,380 and beyond.
XAUUSD Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
Brent Crude Oil Forecast
Oil markets remain volatile amid persistent geopolitical tensions in Europe, the Middle East, and Latin America. Sanctions on Russian producers continue to constrain global supply, while declining U.S. strategic reserves add further support to prices. These factors suggest a possible resumption of the upward trend once the current correction completes.
Technical Analysis
Brent crude rebounded from the SMA50 near 65.96 and is correcting lower toward 63.00. Upon completing this phase, an upward movement is expected toward 69.10, followed by 72.10. The fifth wave could extend to 78.30, before a potential correction toward 73.50.
Forecast Scenarios
- Bullish (Main): Upward continuation with targets at 69.10, 72.10, 75.20, and 78.30.
- Bearish (Alternative): A break below 63.00 could deepen the correction to 61.50, after which an upward reversal is anticipated.
Brent Weekly Technical Analysis (3–7 November 2025)
Risk Warning: Past trading performance does not guarantee future results.
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