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Weekly Forex Forecast:
DXY sustained support near 103.50, eyeing resistance at 105.00–105.30 amid mixed US data and cautious Fed outlook. EUR/USD testing 1.0700 support with ECB hints at easing; watch German IFO and eurozone CPI. GBP/USD vulnerable below 1.2250 as BoE signals patience; UK GDP data key. USD/JPY stuck in range, awaiting BoJ commentary and US inflation updates. Market poised for volatility; fundamentals and technicals point to key decision zones ahead.

The US Dollar Index (DXY) showed early strength post-Fed’s hawkish tone but softened amid mixed US data and improved risk sentiment. EUR/USD recovered from lows near 1.0675, eyeing resistance at 1.0800 amid ECB cautiousness and political noise. GBP/USD remains rangebound, with Brexit uncertainty and UK data in focus. USD/JPY trades quietly as markets await BoJ signals. Key releases and central bank comments this week will shape near-term moves across these majors. Stay tuned.

EUR/USD remains supported by the February trend line, highlighting steady buying interest near recent lows. However, the 1.1830 level continues to act as a key resistance barrier. A decisive daily close above this zone is needed to confirm bullish momentum; failure to hold the trend line could open the door for further downside. Traders should watch these levels closely for clues on the pair’s next directional move. Analysis by Justin Bennett at dailypriceaction.com.

EURUSD found crucial support at its February trend line, preventing a sharper decline, but 1.1830 remains the key resistance level to watch. A decisive break above 1.1830 would signal bullish momentum, while failure here could send the pair back toward the trend line and lower levels.

EURUSD finds support at the crucial February trend line after multiple tests, but the true battleground remains at 1.1830. A clear break above that level is needed for bulls to regain control, while a drop below the trend line could signal further downside. Stay tuned.
— Justin Bennett, DailyPriceAction.com