EUR/USD – Dollar Stability Pressures Euro Below 1.1700

Key Highlights

• EUR/USD slips below 1.1700 as USD stabilizes
• Traders position ahead of ADP and JOLTS data
• Eurozone data shows resilience but lacks momentum
• Employment data seen as near-term catalyst

Market Overview

EUR/USD remains under pressure after failing to hold above the 1.1700 handle, as the US Dollar steadies near the 98.50 area. While Eurozone survey data continues to point to modest economic expansion, it has not been enough to offset USD demand ahead of key US labor indicators.

Markets appear largely indifferent to geopolitical headlines from Venezuela, with traders instead focusing on upcoming ADP employment and JOLTS job openings as precursors to Friday’s non-farm payrolls report. Directional conviction remains limited ahead of these releases.

Technical Outlook (H4)

• Stochastic drifting toward oversold territory
• Price holding below the 20-period EMA
• Bearish bias intact while below resistance

Key Levels

Resistance: 1.1760; 1.1807
Support: 1.1622; 1.1568

Fremora Takeaway

EUR/USD remains vulnerable below 1.1760, with downside pressure dominant unless US data weakens meaningfully. Holding above 1.1622 is critical to avoid deeper retracement. Near-term direction hinges on labor market signals.

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GOLD – Safe-Haven Demand Keeps Bullish Structure Intact

Key Highlights

• Gold holds firm despite stable USD
• Geopolitical risk supports safe-haven demand
• Markets await US employment signals
• Bullish momentum remains elevated

Market Overview

Gold continues to trade at elevated levels, holding near the upper range despite stable equity sentiment and a steady US Dollar. Persistent geopolitical uncertainty linked to Venezuela continues to provide an underlying bid, even as markets avoid broader risk-off positioning.

The metal’s resilience suggests demand is not purely driven by short-term fear but also by positioning ahead of potential shifts in Federal Reserve expectations. Upcoming US labor data will be closely watched for confirmation of economic cooling.

Technical Outlook (H4)

• Stochastic remains in overbought territory
• Price well above the 20-period EMA
• Bullish momentum strong but stretched

Key Levels

Resistance: 4548.84; 4623.01
Support: 4408.12; 4333.18

Fremora Takeaway

Gold remains structurally strong above 4408, but overbought conditions increase the risk of consolidation. Sustained strength depends on softer US employment signals reinforcing rate-cut expectations.

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GBP/USD – Sterling Tests Key Support After Pullback

Key Highlights

• GBP/USD retreats from multi-week highs
• Profit-taking emerges after strong rally
• UK PMI still signals expansion
• US employment data drives near-term risk

Market Overview

GBP/USD has pulled back from recent highs near 1.3570, settling around the 1.3500 zone as momentum fades. While UK PMI data continues to show expansion, the slowdown has reduced upside conviction.

The US Dollar’s stabilization has also capped sterling gains, with markets adopting a cautious stance ahead of critical US employment data. The pair now sits at a technical decision point.

Technical Outlook (H4)

• Stochastic moving toward oversold
• Price testing the 20-period EMA
• Momentum weakening but structure not broken

Key Levels

Resistance: 1.3567; 1.3616
Support: 1.3442; 1.3401

Fremora Takeaway

GBP/USD is at a pivot zone. Holding above 1.3442 keeps the broader bullish structure alive, while a break lower would signal deeper correction risk. Employment data will decide direction.