Gold prices surged past $2,350 as Federal Reserve Governor Waller’s dovish tone fuels expectations of rate cuts, while a weakening US Dollar and soft economic data boost safe-haven demand. Ongoing geopolitical risks and central bank buying further support the rally.
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EUR/USD shows a neutral outlook heading into the ECB meeting after ending last week with modest gains amid economic uncertainty. Technicals suggest consolidation near 1.0900, with key support at 1.0840 and resistance at 1.0960. Market eyes ECB guidance for next direction.
Weekly Forex Forecast: July 20–26, 2025
EUR/USD is range-bound between 1.0800 support and 1.0980 resistance amid mixed inflation signals and cautious ECB vs. Fed stances. Watch for a breakout to 1.1050 or drop to 1.0700.
GBP/USD shows bullish momentum supported by persistent UK inflation and wage growth; key levels are 1.2840 support and 1.3000–1.3050 resistance. A break below trendline may target 1.2700.
USD/JPY climbs as BoJ maintains loose policy while U.S. yields stay strong. Support holds at 145.00, resistance at 148.50; a push beyond could test 150.00.
Prepare for volatility driven by inflation data and central bank outlooks across major pairs. Stay tuned for updates and trade wisely.
U.S. dollar price action remains key amid Fed rate speculations and global risks. EUR/USD tests resistance near 1.1000 with ECB dovish turn expected, while GBP/USD’s breakout above 1.2800 shows signs of fading momentum. USD/JPY holds steady as BoJ maintains policy, and USD/CAD reacts to oil prices and Canadian data. Watch critical technical levels for potential trade setups across these pairs.
AUD/USD remains in a consolidation phase after recent bearish pressure, holding near its 55-week EMA around 0.6650. Key support is at 0.6590, with resistance at 0.6710 and 0.6800. Broader influences include stable RBA policy, resilient commodity prices, and ongoing trade dynamics with China. Technicals suggest potential for sideways movement, with a cautious eye on medium-term bullish scenarios if support holds. Complete analysis by ActionForex.com’s technical team integrates these signals and market fundamentals for this week’s outlook.
Gold prices surged past $2,350 an ounce after Fed Governor Christopher Waller signaled potential rate cuts amid promising inflation data. A softer US dollar and subdued economic indicators are boosting gold’s safe-haven appeal, with central bank demand supporting further gains.
Based on the Elliott Wave analysis by EWM Interactive from July 21, 2025, the S&P 500 may have reached the peak of a major five-wave bullish cycle that began in 2020. Signs such as momentum divergences and resistance near 5500 to 5600 suggest the current wave five is ending. This implies a corrective ABC phase could unfold, potentially retracing to 4200 or lower between 3600 and 3900, aligning with key Fibonacci levels and prior support areas. Market participants should prepare for increased volatility and weigh risk carefully as this corrective pattern develops. Credit to EWM Interactive for their foundational insights.
USD/JPY remains bullish, testing key resistance near 151.80–152.00 amid a rising trend channel. Technicals and strong US fundamentals suggest potential continuation toward 153.50 and 155.00, with support around 149.50. Watch for BoJ intervention risks at critical resistance levels. Analysis credit: Vince Prince. #Forex #USDJPY #TechnicalAnalysis
U.S. Dollar price action remains dynamic as key pairs show distinct setups: EUR/USD consolidates with a bearish bias near 1.1000, testing support around 1.0840; GBP/USD faces resistance at 1.2850 amid cautious BoE signals; USD/JPY finds support near 138.00 after recent rallies; USD/CAD reacts to oil prices with critical support at 1.3450. Traders should watch Fed and central bank cues alongside economic data for next directional moves. Insights adapted from James Stanley, Forex.com.
