EUR/USD
Trend Theme：EUR/USD hovers around 1.0900 amid falling inflation, focus on ECB’s Lagarde’s speech.
Trend Review：The EUR/USD pair hovers around the 1.0900 psychological mark after retracing from the multi-month high of 1.1017 during the early Asian trading hours on Friday. Falling inflation and a stagnant economy in the Eurozone fuel hopes that interest rates could soon be cut.
Today Advise：Neutral
Key Levels：
| PP | Resistance* | 1.0953 * | 1.1021 ** | 1.1058 *** |
| 1.0916 | Support* | 1.0848 * | 1.0812 ** | 1.0744 *** |
Weekly forecast：
————————————————————————————————-
USD/JPY
Trend Theme：USD/JPY bulls turn cautious ahead of US PCE data; seems poised to appreciate further.
Trend Review：The Japanese Yen is back in demand on Friday and draws support from hawkish BoJ expectations. Fed rate cut bets prompt fresh selling around the USD and exert downward pressure on USD/JPY. Investors now look forward to Fed Chair Jerome Powell’s speech for some meaningful impetus.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 148.89 * | 149.54 ** | 150.56 *** |
| 147.87 | Support* | 147.22 * | 146.19 ** | 145.54 *** |
Weekly forecast：
—————————————————————————————————
WTI
Trend Theme：OPEC+ agreed to deepen voluntary oil production cuts, and oil prices fell more than 2% after being blocked from rising.
Trend Review：OPEC+ members reached an agreement to cut production, but it fell short of market expectations, causing oil prices to fall more than 2% on Thursday.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 78.20 * | 81.17 ** | 82.72 *** |
| 76.66 | Support* | 73.69 * | 72.14 ** | 69.17 *** |
Weekly forecast：
—————————————————————————————————
XAU/USD
Trend Theme：Gold recovers its losses near $2,040, focus on US PMI, Fed’s Powell speech.
Trend Review：Gold price recovers its recent losses near $2,040 during the early Asian session on Friday. The anticipation that the Federal Reserve to hold rates steady and perhaps start cutting in 2024 weighs on the US Dollar and lends some support to the USD-denominated gold.
Today Advise：Neutral
Key Levels：
| PP | Resistance* | 2045.18 * | 2054.06 ** | 2060.86 *** |
| 2038.38 | Support* | 2029.50 * | 2022.70 ** | 2013.82 *** |
Weekly forecast：
