EUR/USD
Trend Theme：EUR/USD remains capped below 1.0800, Fed rate decision eyed.
Trend Review：The EUR/USD pair remains capped under the 1.0800 mark during the early Asian trading hours on Wednesday. The Federal Reserve and the European Central Bank will announce their decisions on monetary policy on Wednesday and Thursday, respectively.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 1.0830 * | 1.0863 ** | 1.0899 *** |
| 1.0795 | Support* | 1.0762 * | 1.0727 ** | 1.0694 *** |
Weekly forecast：
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USD/JPY
Trend Theme：USD/JPY: Japanese Yen lacks firm intraday direction as traders remain on the sidelines ahead of Fed.
Trend Review：The Japanese Yen seesaws between tepid gains/minor losses against the USD on Wednesday. Traders seem reluctant on the back of mixed signals about the BoJ’s near-term policy outlook. The focus remains on the outcome of the highly-anticipated FOMC monetary policy meeting.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 146.23 * | 146.96 ** | 147.71 *** |
| 145.48 | Support* | 144.75 * | 144.01 ** | 143.28 *** |
Weekly forecast：
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WTI
Trend Theme：The dollar hit a more than one-week high against the Canadian dollar as the prospect of a rate cut by the Bank of Canada drew attention.
Trend Review：The Canadian dollar weakened against the U.S. dollar on Tuesday as oil prices fell and investors weighed the possibility that the Bank of Canada could be one of the first major central banks to cut interest rates in the coming months. Looking ahead, the National Bank of Canada predicts that the Canadian dollar will weaken in 2024 as the Bank of Canada cuts interest rates further.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 71.25 * | 73.56 ** | 74.95 *** |
| 69.86 | Support* | 67.55 * | 66.16 ** | 63.84 *** |
Weekly forecast：
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XAU/USD
Trend Theme：Gold holds below $2,000, all eyes on US PPI, Fed rate decision.
Trend Review：Gold price edges lower to $1,980 during the early Asian session on Wednesday. The yellow metal reversed previous gains after the release of US inflation figures. The report reinforced views that the Federal Reserve (Fed) would need to maintain rates higher for longer to bring inflation to the 2% target.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 1991.88 * | 2004.17 ** | 2011.48 *** |
| 1984.57 | Support* | 1972.28 * | 1964.97 ** | 1952.68 *** |
Weekly forecast：
