The following is a restructured and expanded 1000-word article based on the original “Weekly Forex Forecast for DXY, EURUSD, GBPUSD, USDCAD, and XAUUSD (November 24–28, 2025)” by Justin Bennett from Daily Price Action, incorporating additional insights from reputable financial sources to provide a detailed outlook on the forex market for the week ahead.
Weekly Forex Forecast (November 24–28, 2025)
By Forex Bulletin Integrated Research
Based on insights from Justin Bennett (DailyPriceAction.com)
Additional input from Investing.com, FXStreet, and MarketWatch
Overview
The upcoming trading week between November 24 and 28, 2025, marks a critical period across major currency pairs and commodities, primarily shaped by conflicting signals from the U.S. dollar (DXY), upcoming economic data, and the broader risk sentiment driven by global macroeconomic trends. In the prior week, the Federal Reserve signaled dovish undertones, while inflation showed signs of cooling slightly below expectations, pushing the dollar to lose strength against most G10 currencies. Additionally, Wall Street’s strength and optimism around a soft landing in the U.S. economy have reduced the dollar’s appeal as a safe haven, albeit with volatility expected to return given upcoming economic data and geopolitical uncertainties.
Here’s a breakdown of the technical and fundamental outlook for key instruments: DXY, EURUSD, GBPUSD, USDCAD, and XAUUSD, for the week ahead.
US Dollar Index (DXY)
The U.S. Dollar Index, a basket weighted against major currencies such as the euro, yen, and pound, has shown weakness after last week’s dovish FOMC minutes and moderate commments by Federal Reserve members, hinting at a longer pause in interest rate hikes. Reduced fears of inflation resurgence are also weighing on safe-haven flows into the dollar.
Key Levels:
– Resistance: 105.10 and 106.20
– Immediate Support: 103.50
– Key Support Zone: 102.70–103.00
Outlook:
– The weekly close below the critical 104.00 level suggests a potential continuation lower to test the 103.00 psychological support.
– If DXY breaks below this level with volume, a deeper drop toward 102.00 is likely, especially if U.S. data this week (mostly lower-tier reports due to Thanksgiving) continues to disappoint.
– On the other hand, should yields bounce back or equities falter, we could see a flight to safety underpin dollar bids.
Fundamentals to Watch:
– U.S. Durable Goods Orders (Wednesday)
– Preliminary GDP (Thursday)
– Core PCE Price Index (Friday)
– Thanksgiving holiday (reduced liquidity on Thursday and Friday)
EUR/USD
The euro has been showing strength recently, driven by both dollar weakness and a slight improvement in Eurozone data. With the European Central Bank maintaining a firm narrative on inflation vigilance, EUR/USD could continue seeing upside pressure, especially if the DXY resumes its downtrend.
Technical Setup:
– Major Resistance: 1.0970–1.1000 range
– Breakout Confirmation: Close above 1.1000
– Immediate Support: 1.0830
– Weekly Support: 1.0760–1.0780
Outlook:
– A break and close above the 1.1000 resistance level would open the path for a bullish rally toward 1.1100.
– Using the ascending trendline from the October low as a guide, the current uptrend remains intact.
Strategic Notes:
– RSI is approaching overbought territory on daily charts, suggesting some consolidation might occur before a potential breakout.
– The pair remains a buy-the-dip candidate in the short term if dips are limited to the 1.0830–1.0780 zone.
GBP/USD
The British pound is maintaining strength despite recent economic
Read more on USD/CAD trading.