The new trading week presents several interesting opportunities across the Forex and index markets. Recent price action continues to respect key technical structures, with multiple markets approaching important Fibonacci levels, support zones, and potential breakout areas.
In this weekly forecast, we will analyze the technical outlook and potential trading scenarios for EUR/USD, GBP/USD, Gold (XAU/USD), S&P 500, and EUR/JPY.
Let’s break down the key setups for the coming week.
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EUR/USD Forecast
The EUR/USD is currently retesting the 161.8 Fibonacci retracement level, which is an important area where price could attempt a short-term rejection.
However, the broader technical picture remains bearish.
If sellers maintain control, the next logical downside target could extend toward the 261.8 Fibonacci extension.
Several technical factors align with this scenario:
• Price is approaching a previous daily low which could provide temporary support
• If that level holds, we could see a short-term bounce
• After a correction, the next major downside objective remains the 261.8 Fibonacci level
Interestingly, the 261.8 Fibonacci extension aligns with a previously broken weekly resistance, which now has a high probability of acting as support.
This confluence creates an important technical zone to watch during the coming sessions.
EUR/USD Trading Outlook
Bearish bias remains intact while price continues to trade below recent resistance.
Key scenarios:
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Short-term rejection possible at current levels
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Break lower could open the move toward 261.8 Fibonacci support
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Watch the daily lows for potential reactions
GBP/USD Forecast
The GBP/USD has recently broken below a key daily low, confirming a clear bearish price structure.
The market has now formed:
• Three consecutive lower highs
• Multiple lower lows
This is a classic bearish structure that often signals continuation toward lower support zones.
When markets establish this pattern, the probability increases that price will move toward the next significant liquidity zone, which in this case is the next major daily low.
GBP/USD Trading Outlook
The trend remains bearish.
Key levels to watch:
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Recent daily breakdown area
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Next major support at the previous swing low
As long as the bearish structure remains intact, sellers remain in control.
Gold (XAU/USD) Forecast
Gold is currently attempting to break out of the range structure discussed in the previous weekly forecast.
If this breakout holds and the recent swing high remains protected, gold may come under increasing bearish pressure.
The next logical downside targets would be:
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The next 4-hour chart support levels
2. The daily low
A confirmed breakout from the range could trigger additional selling momentum.
Gold Trading Outlook
Gold could continue lower if the breakout remains valid.
Key scenarios:
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Range breakout confirmation
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Retest of the 4-hour support levels
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Possible continuation toward the daily lows
S&P 500 Forecast
Last week we discussed the possibility of downside continuation in the S&P 500, and the market has started to move in that direction.
However, the move may not be over yet.
The current technical structure suggests that the index could still retest the recent low.
If this happens, there is a strong probability that the S&P 500 could revisit the broken weekly resistance level, which now acts as support.
Markets frequently retest such levels before determining the next larger move.
S&P 500 Trading Outlook
Potential scenarios include:
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Retest of the recent lows
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Reaction from weekly support
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Possible continuation depending on momentum
This area could become a key decision point for the index.
EUR/JPY Forecast
EUR/JPY is currently forming a small consolidation range.
If price breaks below this structure and holds the recent peak, the probability increases that the market could complete the next leg down.
The technical path lower could include:
• Broken resistance levels acting as support
• A move toward the next demand zone near previous lows
Such a structure would support the continuation of the broader bearish move.
EUR/JPY Trading Outlook
Key levels to watch:
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Breakdown of the current range
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Retest of broken resistance acting as support
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Potential move toward the next demand zone
Pro Trading Tip
Every forecast above is paired with two scenarios. Why? Because great trading is not about being right — it’s about being ready. Let the market confirm the bias. Use your system, manage risk, and execute only when the structure and confirmation align.
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Wishing you a profitable week ahead!
Vladimir Ribakov
Internationally Certified Financial Technician
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