The Week Ahead – a rocky road ahead  

Weekly outlook covering EURUSD and XAUUSD, with NAS100 analysis and key support and resistance levels shaping market expectations.

EURUSD sliding lower

After last week’s interest rate decisions, the market was keen to cool down on the Labour Day weekend. The Euro attempts to remain on the front foot as prices remain above the 1.1700 zone. With this week’s Non Farm Payrolls looking to bounce the American economy back into action, the dollar could make a comeback to pressure the direction lower, as the unemployment rate looks to also boost sentiment. 1.1650 is the next target lower as 1.1780 becomes a firm resistance.

XAUUSD looking for another push

As the dollar looks for its next direction, a prolonged conflict in the Middle East appears likely. Gold buyers could begin to enter the market to recover losses from the downturn in the majority of last month. Fundamental headlines will be limited this week, and all eyes will be on the next statement of Donald Trump to see how far he can test the market. 4480 is the closest support, with 4700 a firm resistance.

NAS100 attempts another record

NAS100 analysis shows American indices remain bullish after topping record after record. With the majority of big tech companies already announcing their earnings for the previous quarter, there could be a slight slowdown in momentum. AI and tech were the big winners, which managed to drive prices higher as traders wonder if a correction is just around the corner. As the Nasdaq remains heightened, it could be a long road back for sellers as the next target ahead is around the 28000 area, with 26800 being the closest support.

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