EUR/USD
Trend Theme：EUR/USD backslides to a ten-week swing low ahead of ECB rate call
Trend Review：
EUR/USD withered further on Wednesday, sagging below 1.0900.ECB rate cut looms large around the corner, broadly expected to trim rates 25 bps.Final EU inflation figures are unlikely to move the needle on Thursday.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 1.0891* | 1.0920** | 1.0940*** |
| 1.0872 | Support* | 1.0843* | 1.0824** | 1.0795*** |
Weekly forecast：
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USD/JPY
Trend Theme：USD/JPY holds below 149.50 ahead of US Retail Sales data
Trend Review：
USD/JPY edges lower to near 149.40 in Thursday’s Asian session. The rising bets that the Fed will gradually lower interest rates in the remainder of the year might support the USD. Investors will take more cues from Japan’s September National CPI inflation data on Friday.
Today Advise：Sideways
Key Levels：
| PP | Resistance* | 150.01* | 150.38** | 150.95*** |
| 149.44 | Support* | 149.07* | 148.50** | 148.13*** |
Weekly forecast：
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WTI
Trend Theme：Financial Breakfast on October 17: Israel may retaliate against Iran before November 5, and gold volatility may rise before the results of the US election
Trend Review：
Thursday (October 17) Financial Breakfast includes important fundamental news, precious metals/crude oil/foreign exchange/commodities/stock market/bond market, international news, domestic news, institutional views, today’s important financial data and financial events. OPEC lowered its forecast for oil demand growth this year and next year, and the impact continues, and international oil prices continue to fall. Israel may retaliate against Iran before November 5, and tensions in the Middle East may escalate. UBS warned that uncertainty and volatility in the gold market will increase before the next US government is determined.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 70.84* | 71.55** | 72.40*** |
| 70.00 | Support* | 69.29* | 68.44** | 67.73*** |
Weekly forecast：
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XAU/USD
Trend Theme：Gold trading reminder: major central banks around the world are “scrambling” to cut interest rates, gold prices are approaching record highs, pay attention to “terrible data”
Trend Review：
In the early Asian session on Thursday (October 17), spot gold fluctuated at a high level and is currently trading around $2,676.93 per ounce. Gold prices rose to a record high on Wednesday, reaching an intraday high of $2,685.15 per ounce. Weaker U.S. Treasury yields and expectations of rate cuts by major central banks supported the rise of non-interest bearing gold, and ongoing geopolitical conflicts provided additional safe-haven support.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 2686.63* | 2699.39** | 2713.32*** |
| 2672.70 | Support* | 2659.94* | 2646.01** | 2633.25*** |
Weekly forecast：
