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EUR/USD – Dollar Volatility Caps Direction

Key Highlights

• USD volatility rises amid Fed independence concerns
• Treasury yields ease, limiting dollar upside
• Euro lacks domestic catalysts
• Markets highly sensitive to political headlines

Market Overview

EUR/USD traded cautiously on Wednesday, holding within recent ranges as the US Dollar turned volatile again. While US data remained broadly solid, market focus stayed firmly on political pressure surrounding the Federal Reserve, making directional conviction difficult across FX markets.

Technical Outlook (H4)

• Stochastic recovering from oversold, now neutral
• Price consolidates below the 20-period EMA
• Momentum stabilizing, but trend unclear

Key Levels

Resistance: 1.1701; 1.1740
Support: 1.1589; 1.1551

Fremora Takeaway

EUR/USD is stuck in a wait-and-see phase, driven more by US political risk than economic data. The 1.1589 support zone is critical for near-term stability, while upside traction requires a clear reclaim of the 20-EMA. Until then, consolidation remains the dominant theme.

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GOLD (XAU/USD) – Safe-Haven Demand Remains Firm

Key Highlights

• Gold holds near record highs
• Fed credibility concerns support demand
• Inflation uncertainty favors hedging
• Geopolitical headlines keep volatility elevated

Market Overview

Gold paused on Wednesday after pushing toward fresh all-time highs, maintaining a strong bid as concerns over central bank independence and future inflation policy continue to dominate investor psychology. Traditional data signals have taken a back seat to political and credibility risks.

Technical Outlook (H4)

• Stochastic easing from overbought levels
• Price holds above the 20-period EMA
• Structure remains technically constructive

Key Levels

Resistance: 4729.02; 4819.49
Support: 4496.09; 4421.03

Fremora Takeaway

Gold’s consolidation near record highs reflects strength, not exhaustion. As long as price remains above the 20-EMA, pullbacks look corrective rather than trend-changing. The broader narrative continues to favor protection over yield.

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GBP/USD – Sterling Stabilizes Ahead of UK Data

Key Highlights

• Pound rebounds with softer USD tone
• Political uncertainty distorts FX reactions
• UK data becomes near-term catalyst
• Risk sentiment remains fragile

Market Overview

GBP/USD recovered modestly on Wednesday as dollar pressure resurfaced. Despite a risk-off backdrop in equities, sterling showed resilience as traders positioned ahead of key UK economic releases expected to define near-term direction.

Technical Outlook (H4)

• Stochastic neutral after oversold recovery
• Price stabilizing around the 20-EMA
• Breakout risk building

Key Levels

Resistance: 1.3487; 1.3536
Support: 1.3389; 1.3343

Fremora Takeaway

Sterling is coiling near key technical levels, with momentum improving but not yet decisive. A sustained hold above the 20-EMA would strengthen upside potential, while failure below 1.3389 would reopen downside pressure. UK data will likely decide the next move.