GBPJPY ended yesterday’s trading with another negative close below the 210.40 level, forming strong bearish waves once again and currently approaching the additional support at 208.10, thereby reaching the targets suggested in the previous report.
We recommend waiting for the price to break the current support and hold below it to confirm its readiness to resume the main bearish attack, targeting further negative levels as it heads directly toward 207.45 and 206.80.
The expected trading range for today is between 207.45 and 209.25
If buyers can retain control, the first key target zone begins with the recent high of $106.84 and rises to the lower swing high of $109.74. But beforehand, strength needs to be seen, first with a recovery above an interim lower swing high at $96.25, followed by the lower swing high of $100.43. In addition, the falling 20-day moving average is at $96.34 and will soon dip below $96.25. This means that a recovery of $96.25 will also put crude oil back above the 20-day moving average, which would signal strengthening short-term bullish momentum.
U.S. Dollar Index gains some ground as traders focus on the Initial Jobless Claims report. The report indicated that 197,000 Americans filed for unemployment benefits in a week, compared to analyst consensus of 200,000. The previous report was revised from 197,000 to 199,000. The report indicated that the job market remained in decent shape.
U.S. Dollar Index continues its attempts to settle above the resistance level at 102.35 – 102.50. In case U.S. Dollar Index manages to settle above the 102.50 level, it will head towards the next resistance, which is located in the 103.15 – 103.30 range.
2026.10.08 2026.10.08 Short-Term Analysis for Oil, Gold, and EURUSD for 08.10.2026
Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/
Welcome, my fellow traders! I have prepared a price forecast for US Crude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I have identified entry signals for intraday traders.
Yesterday, gold prices continued to decline.
The article covers the following subjects:
Major Takeaways
USCrude: Oil is approaching the resistance A at 91.18–90.73.
XAUUSD: Gold is undergoing correction following a decline and a test of the Gold Zone 4,081–4,070.
EURUSD: The euro has reached the bearish target, declining from the resistance A of 1.1253–1.1245.
Oil Price Forecast for Today: USCrude Analysis
Oil is rising in a corrective move within the broader short-term downtrend. Today, prices are approaching the resistance A at 90.73–91.18. Once this resistance zone is tested, short positions could be considered with targets at 88.75 and 86.30.
If the resistance A is pierced today, the correction could extend toward the resistance B at 92.95–93.61. This zone marks the trend boundary and may provide another opportunity to open short positions.
USCrude Trading Ideas for Today:
Sell near resistance A at 91.18–90.73. TakeProfit: 88.75, 86.30. StopLoss: 92.24.
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold prices continued to decline, reaching the Gold Zone at 4,070–4,081. Significant selling emerged in this zone, triggering a corrective rebound.
Today, prices are trading within this correction. If the price reaches the new resistance zone at 4,169–4,179, short positions could be considered in this area with targets at 4,123 and 4,066.
XAUUSD Trading Ideas for Today:
Sell near resistance A at 4,179–4,169. TakeProfit: 4,123, 4,066. StopLoss: 4,203.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro continues to trade within a short-term downtrend. Yesterday, the price reached the first sell target near 1.1661, while the second target is the October 5 low. As a result, hold short positions opened yesterday near the resistance A at 1.1253–1.1245.
If the price slides below the October 5 low, the next bearish target will be the Target Zone 3 at 1.1123–1.1106. Otherwise, the price could rebound and retest the resistance A.
EURUSD Trading Ideas for Today:
Hold short positions opened near resistance A at 1.1253–1.1245. TakeProfit: 1.1161. StopLoss: at breakeven.
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Price chart of XAUUSD in real time mode
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EUR/JPY could find immediate support at the descending channel’s lower boundary around 176.30.
The 14-day Relative Strength Index at 33.25 sits slightly above oversold territory.
The primary resistance lies at the nine-day EMA at 177.87.
EUR/JPY inches higher after posting modest losses in the previous day, trading around 177.10 during European hours on Thursday. Technical analysis of the daily chart shows that the currency cross is remaining within the descending channel pattern, suggesting an ongoing bearish bias.
The EUR/JPY cross is keeping a bearish near-term tone as price holds below both the nine-period and 50-period Exponential Moving Averages (EMAs). The short-term EMA is trading under the longer one while both remain above spot, suggesting topside pressure, while the 14-day Relative Strength Index (RSI) at 33.25 hovers just above oversold territory, hinting that downside momentum is still dominant but becoming stretched.
The EUR/JPY cross may test the lower boundary of the descending channel around 176.30, followed by an 11-month low of 175.70, recorded in November 2025. Further declines below this confluence support zone would expose the 14-month low of 169.72.
On the upside, the primary resistance lies at the nine-day EMA of 177.87, followed by the 50-day EMA at 180.91. A break above these moving averages would support the EUR/JPY cross to approach the upper boundary of the descending channel around 184.10, followed by the all-time high of 187.95 set on April 17.
French debt jitters resurface as Treasury mulls shorter issuance
Analysts at ING note that the recent stabilisation in French sovereign markets has proved short-lived. They point out that French government bonds, which had “enjoyed a modest rebound earlier in the week,” were “hit by a report yesterday that the French Treasury could shorten the duration of its issuance to protect the long end.” ING suggests this shift in issuance strategy has unsettled investors, reinforcing the sense of fragility around French debt and, by extension, related Euro assets.
EUR/JPY: Daily Chart
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.02%
0.11%
0.06%
-0.05%
0.23%
0.11%
-0.04%
EUR
-0.02%
0.09%
0.04%
-0.09%
0.14%
0.09%
-0.06%
GBP
-0.11%
-0.09%
-0.04%
-0.18%
0.05%
0.00%
-0.13%
JPY
-0.06%
-0.04%
0.04%
-0.13%
0.10%
0.01%
-0.08%
CAD
0.05%
0.09%
0.18%
0.13%
0.23%
0.16%
0.05%
AUD
-0.23%
-0.14%
-0.05%
-0.10%
-0.23%
-0.04%
-0.17%
NZD
-0.11%
-0.09%
-0.01%
-0.01%
-0.16%
0.04%
-0.09%
CHF
0.04%
0.06%
0.13%
0.08%
-0.05%
0.17%
0.09%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Daily chart of Natural Gas Futures (NG1!) on TradingView with price at 3.252 below resistance at 3.300.
Natural gas gapped higher to kick off the Thursday session, testing the $3.30 level. The $3.30 level has been important a couple of times recently, as we have seen it offer significant resistance, especially during the summer around June, when there were concerns about air-conditioning demand.
But now we find ourselves 2 to 2.5 weeks away from rolling over into the December contract, so we start to think about heating. At night in places like Columbus, Pittsburgh, and Cleveland, it is getting to roughly 45 degrees, and that will cause a little bit of heating demand. The problem, of course, is that during the day it is still 75 degrees.
EUR/USD is currently trading at 1.1198 on the 2-hour chart, and what is capturing my attention is price is trading firmly below both the moving averages, and the descending trend line. The recent bounce was unable to take out 1.1212, keeping the larger bearish structure in place and keeping control with sellers.
The first area of support I am looking at is 1.1161. If price were to break 1.1161, 1.1115 would be the next area of support, followed by 1.1063. The first area of resistance is located at 1.1212, followed by 1.1272 and then 1.1334 if buyers are able to initiate a larger move to the upside.
RSI is still below the midline, indicating that the larger time frame trend remains bearish. I would agree with the bearish bias as long as 1.1212 and the descending trend line continue to provide resistance. A break above 1.1272 would be bullish, and a break below 1.1161 would confirm 1.1115 as the next area of support.
EURJPY ended its bullish corrective rebound by posting another negative close below the additional barrier at 179.45, allowing the price to form new bearish waves and achieve some of the previously suggested bearish targets by touching 176.50.
The price currently has little choice but to resume its bearish attack, with the next bearish target at 175.75 expected to be reached soon. With sufficient bearish momentum, the price may also succeed in pressuring the support at 174.95.
The expected trading range for today is between 175.75 and 178.00
Gold continued to decline in recent intraday trading, affected by its movement along a main short-term bearish trend line, while the negative pressure resulting from trading below the EMA50 remains in place. The EMA50 is acting as dynamic resistance, intensifying the bearish pressure around the price, particularly as negative signals continue to emerge from the relative strength indicators.
The Pound US Dollar (GBP/USD) exchange rate edged lower in mid-week trading, with a cautious market mood encouraging investors towards traditional safe-haven currencies such as the US Dollar.
GBP/USD was trading at approximately $1.3227 at the time of writing, a decline of around 0.4% from Wednesday’s opening levels.
Fresh demand for the US Dollar (USD) emerged on Wednesday as deteriorating risk appetite strengthened the appeal of the safe-haven currency.
A renewed jump in oil prices added to the more defensive tone, with Brent crude moving back above $100 a barrel.
Concerns over global energy supplies intensified amid escalating tensions in the Middle East, while a storm also threatened US oil production.
Market participants were also adopting a cautious stance ahead of the release of minutes from the Federal Reserve’s latest policy meeting.
Investors will scrutinise the minutes for clues about the debate surrounding the future direction of US interest rates, particularly after several policymakers struck a more cautious tone in response to recent softer inflation and employment figures.
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Signs that officials remain worried about stubborn price pressures could bolster expectations of additional monetary tightening, potentially giving the US Dollar another lift.
Sterling struggled for momentum on Wednesday, with a lack of significant UK economic releases leaving the currency particularly sensitive to developments in the domestic bond market.
Gilt yields continued to edge higher, creating an additional headwind for the Pound.
Rising borrowing costs have once again highlighted concerns surrounding the UK’s stretched public finances, with the prospect of further increases potentially eating into Chancellor John Healey’s limited fiscal headroom ahead of the Autumn Budget.
Expectations of a November interest rate increase from the Bank of England (BoE), however, continued to provide some support for Sterling and helped prevent a sharper decline.
Near-Term GBP/USD Forecast: BoE Speakers and US Jobless Claims in Focus
Attention now turns to a busy run of BoE speeches, which could provide fresh direction for the Pound US Dollar exchange rate during the latter part of the week.
MPC members Megan Greene and Huw Pill are both scheduled to speak, having joined the minority that voted for a 25-basis-point rate increase at last month’s meeting.
Governor Andrew Bailey is also due to address markets.
A more hawkish message from Bailey, particularly if he suggests that persistent inflationary pressures could justify another rate increase in November, may offer Sterling a boost.
On the US side, the latest initial jobless claims figures could influence USD trading on Thursday.
A larger-than-expected increase in unemployment claims could weigh on the Dollar by raising concerns over the health of the US labour market.
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