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EUR/USD — Dollar Breakdown Keeps Bulls in Control

Key Highlights
• EUR/USD holds near 1.1750 after pushing toward 3-month highs
• DXY breaks below 98.00 on weak US jobs revisions + higher jobless rate
• October revised to -105K; unemployment rises to 4.6%
• ECB decision risk ahead, but USD remains the primary driver

Market Overview
EUR/USD is consolidating at elevated levels as the US Dollar loses support from deteriorating labor data. Even with Germany’s manufacturing still in contraction, the pair is being driven by narrowing rate differentials and rising expectations that the Fed will need to ease more than its own projections suggest.

Technical Outlook (H4)
• Stochastic drifting lower toward oversold
• Price consolidating around the 20-period MA
• Pullback looks corrective while structure stays constructive

Key Levels
Resistance: 1.1795; 1.1852
Support: 1.1685; 1.1623

Fremora Takeaway
This looks like a “pause near highs,” not a breakdown. As long as 1.1685 holds, dips remain buyable within the broader USD-down trend. A clean push above 1.1795 would refocus attention on 1.1852.

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GOLD (XAU/USD) — Soft US Labor Keeps Gold Supported

Key Highlights
• Gold stabilizes near $4,300 after a sharp intraday swing
• DXY below 98.00 supports bullion via FX tailwind
• Jobs report: headline +64K, but October revised to -105K; jobless rate 4.6%
• Market narrative favors “slower growth + sticky inflation” hedging

Market Overview
Gold remains anchored around $4,300 as traders weigh labor-market deterioration against lingering inflation risk. The weaker USD backdrop and rising expectations of a more accommodative Fed path keep demand intact, even as price action cools after recent highs.

Technical Outlook (H4)
• Stochastic attempting to roll over from near overbought
• Price consolidating around the 20-period MA
• Bias remains bullish, but near-term digestion is likely

Key Levels
Resistance: 4353.54; 4412.29
Support: 4227.58; 4176.01

Fremora Takeaway
Gold is in “hold-the-gains” mode. Above 4,227, the trend stays intact and pullbacks look like consolidation rather than reversal. A break above 4,353 would reopen the path toward fresh highs.

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GBP/USD — UK CPI Sets the Tone Before BoE

Key Highlights
• GBP/USD near 1.3430 as USD weakness dominates
• UK CPI is the key near-term catalyst ahead of Thursday’s BoE decision
• Markets still price ~90% odds of a 25 bps BoE cut
• Cable strength remains largely “USD story,” not UK outperformance

Market Overview
Sterling is holding firm as traders position for UK inflation and the BoE decision. The Fed-driven USD downswing provides a supportive base, but GBP/USD direction now hinges on whether UK CPI forces the BoE into a more cautious tone—or validates a clean cut with dovish guidance.

Technical Outlook (H4)
• Stochastic trying to turn lower from near overbought
• Price holding above the 20-period MA
• Signs of a near-term pause after a strong push higher

Key Levels
Resistance: 1.3483; 1.3553
Support: 1.3361; 1.3290

Fremora Takeaway
Sterling is strong, but the next move depends on UK CPI and BoE messaging. Holding above 1.3361 keeps the bias constructive; a break above 1.3483 would confirm continuation. If CPI surprises hot, expect volatility and whipsaw risk into the decision.