This article is a rewritten version of the Forex market forecast originally published by Justin Bennett on Daily Price Action. It provides a detailed analysis of five key assets for the trading week of November 10–14, 2025: the U.S. Dollar Index (DXY), EUR/USD, GBP/USD, USD/JPY, and XAU/USD (Gold). This version expands on the original insights and includes additional contextual details to provide clarity and depth for traders.
Weekly Forex Forecast for DXY, EUR/USD, GBP/USD, USD/JPY, and XAU/USD (November 10–14, 2025)
by Justin Bennett (source: DailyPriceAction.com)
Overview
This week’s outlook focuses on price action across five major currency pairs and indices. With the U.S. dollar at a potential inflection point, traders are closely watching how risk-sensitive assets such as EUR/USD and XAU/USD react. Both technical resistance and support zones are coming into play, and several breakout or breakdown scenarios may present themselves over the coming sessions.
1. U.S. Dollar Index (DXY)
The U.S. Dollar Index (DXY) sets the tone for many currencies and commodities, particularly those priced in dollars. In recent weeks, the DXY has held within a consolidative range, characterized by flat momentum and indecisive price behavior.
Key Technical Levels:
– Support: 105.00
– Resistance: 106.80
Highlights:
– The DXY has struggled to break above the significant resistance at 106.80. This zone has rejected price action multiple times and coincides with a prior swing high.
– On the downside, the 105.00 support area has proven durable in recent weeks. A close below this level could trigger further losses toward 104.20.
– The U.S. dollar remains range-bound, but a breakout could align with broad moves across FX majors.
Trading Considerations:
– A confirmed breakout above 106.80 could trigger bullish continuation toward the 108.00 region.
– A breakdown below 105.00 would bring sellers into the market, targeting lower support near 104.20 and potentially 103.50 if momentum accelerates.
– Wait for a daily candle close beyond these zones to confirm direction.
2. EUR/USD
The EUR/USD pair, which is inversely correlated to the DXY, continues to trade within a clearly defined descending channel. The euro has attempted to rebound multiple times but remains under pressure from a firm U.S. dollar and mixed economic signals out of the Eurozone.
Key Levels:
– Resistance: 1.0765–1.0780
– Support: 1.0650, with the next level near 1.0530
Technical Observations:
– Last week’s price action showed euro bulls struggling to break and hold above the 1.0780 resistance area. This level marks the upper boundary of a descending trend line that has held since July.
– Buyers will need a confirmed daily close above 1.0780 to initiate a shift in market structure.
– Conversely, support at 1.0650 remains critical for buyers. If broken, a slide toward 1.0530 becomes more probable.
Trading Strategy:
– Bearish bias remains intact as long as price remains below channel resistance around 1.0780.
– A daily close above that resistance would suggest renewed strength in the euro and may extend the recovery to 1.0900.
– Range traders might consider fading both ends of the current channel for short-term opportunities.
3. GBP/USD
After rallying in early October, GBP/USD is losing upward momentum and showing signs of consolidation. Price action remains confined within a broader descending structure, capped by major resistance in the 1.2300 to 1.2440 zone.
Crucial Levels:
– Resistance: 1.2300–1.2440
– Support: 1.2100, then the October
Explore this further here: USD/JPY trading.