**Weekly Forex Forecast for DXY, EURUSD, GBPUSD, USDJPY, and XAUUSD: November 10–14, 2025**
*Adapted and expanded from the work of Justin Bennett on Daily Price Action*
As global markets move through the second week of November 2025, traders are closely monitoring key forex pairs and gold, seeking clarity in the aftermath of major central bank decisions and ongoing geopolitical shifts. This analysis delves deeply into the technical and fundamental backdrop for the US Dollar Index (DXY), EURUSD, GBPUSD, USDJPY, and XAUUSD (gold), targeting actionable insights for the week ahead.
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### US Dollar Index (DXY)
The US Dollar Index ended last week with notable volatility, reflecting uncertainty around inflation data, Federal Reserve policy clues, and external macro themes.
#### Technical Analysis
– The DXY has been oscillating around the 104.80–105.50 band, underpinned by a longer-term bullish trend channel that remains intact.
– Price structure is now testing immediate resistance at 105.70, with the next major resistance zone at 106.20–106.50.
– Weekly candlestick formations show substantial wicks, indicating ongoing supply-demand battles but a lack of decisive breakout.
– The Relative Strength Index (RSI) on the daily chart remains above 50, suggesting bullish momentum prevails but is facing waning enthusiasm.
– Should the index fall beneath minor support at 104.80, attention would shift down to the 104.15–104.25 region, which aligned with previous swing lows and the ascending trendline support.
#### Fundamental Context
– Though the Federal Reserve has paused its rate hikes, market participants are parsing policymakers’ speeches for guidance on potential moves early in 2026.
– Inflationary pressures and the labor market remain robust, keeping support beneath the dollar.
– External risks, including geopolitical frictions in Eastern Europe and the Middle East, are driving risk-off sentiment and buoying the DXY.
#### Trade Outlook
– Bullish bias persists above 104.80; a break above 105.70 would invite a test of 106.50.
– Loss of 104.80 on a weekly closing basis would favor deeper pullbacks.
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### EURUSD
EURUSD continues to trade within a well-defined corrective structure, unable to sustain recent rallies above 1.0720 amid resurging dollar strength.
#### Technical Analysis
– The pair faces descending trendline resistance drawn from July highs, now cutting through 1.0750.
– Immediate support is visible at 1.0620, last week’s pivot low, with a more critical level at 1.0500, reflecting YTD lows and a psychological barrier.
– Daily moving averages are stacked in bearish alignment, with the 21-day EMA capping advances for three consecutive weeks.
– RSI bounces off neutral levels, hinting at consolidation rather than imminent breakdown.
#### Fundamental Context
– The European Central Bank remains dovish, constrained by sluggish growth and divergent inflationary pressures across the Eurozone’s core and periphery.
– Political instability in Germany and sluggish manufacturing PMIs weigh on sentiment.
– Recent US data outpaces European equivalents, causing capital flows to favor the dollar.
#### Trade Outlook
– Technically, sellers are expected to defend the 1.0720–1.0750 region, keeping the path of least resistance lower.
– A break beneath 1.0620 solidifies bearish momentum for 1.0500 retests.
– Only a close above 1.0750 would neutralize the near-term bearish bias.
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### GBPUSD
Sterling has found itself caught in a tug of war between stabilizing domestic growth and persistent inflation, frustrating bulls and bears alike.
#### Technical Analysis
– GBPUSD is boxed in between 1.2250 support and 1.2450 resistance, mimicking the dollar
Read more on GBP/USD trading.