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EURUSD has entered a tight consolidation range between its 20- and 50-period SMAs at 1.1605 and 1.1617 respectively, following a partial recovery from its post-NFP low of 1.1584. Despite the recent rebound, buyers have failed to clear last week’s resistance around 1.1617 keeping downside risks active
Market Update
A firmer JPY has highlighted what has so far been quiet US holiday thinned trading.
EURUSD is holding a bid above 1.1600 but so far with limnited follow through on the upside.
US500 is clinging to a bid just above 7700 (on this CFD chart) but in a tight wait-and-see week range..
Crude oil is hoding firm just below 6 week highs. What would set off headline alarms with potential ripple effects would be Brent trading back abovve $100.
THE WEEK AHEAD:
KEY ECONOMIC EVENTS & DATA TO WATCH SEPTEMBER 7- SEPTEMBER 11, 2026
Inflation is back in the driver’s seat. U.S. CPI is forecast at 3.4%, PPI at 5.3%, energy costs are climbing, and Econoday sees conditions that could put a Fed rate hike on the table ahead of the Sept. 15–16 FOMC meeting. (Econoday) See our Economic Calendar
BTCUSD 4 HOUR: Pivotal round numbers
There is a psychological component to trading this crypto where pivotal round numbers can often have a greater impact than fine tuning technical chart points.
In this regard, failure above 82K has cooled the upside, leaving 80K as pivotal and one BTCUSD is having troublke holding aboive.
To suggest a break of the current consolidation, sub-78K would be needed.
XAUUSD (GOLD) 4 HOUR: Consolidating for now
What stands out on this chart is the failure above 4509 and below the 4 hour trendline but so far the retreat puts it into a consolidation range.
Key levels are clear at 428/ 4510-4 hour trendline For momentum to build to the downside, 4365 would need to be taken out (LOD 4385). Otherwise, tighter range is 4365-4490.
USDJPY WEEKLY: Confirms a downtrend
Break of 155 confirms a weekly chart downtrend that shows a risk for 152.00-07 while it trades below 155.
In the absence of nearby support, expect 153.50 to be pivotal (i.e. above it range is to 155, below it opens the door to 152) and 154 ahead of it.
To state the obvious, 155+ would be needed to cool the risk.
Forex Market Snapshot
The dollar is starting the week on a soft note led by a USDJPY plunge through 155. Offsets are seeing lags elsewhere (e.g. EURJPY) as unwinding of short JPY crosses are again helping to drive the currency higher. There has been little or no chatter of another BoJ ambush, which in any case has turned technicals in its favor.
US is closed today in a week highlighted by the ECB decision and US inflation reports.
EURUSD DAILY: Watch 1.16
While 1.16 is not a key pivotal round number thE fact that it has traded 6 days in a row increases its importance.
So, limits the range while this pattern continues.
Once broken (e.g. 1.16 becomes support or resistance) risk shifts to a directional move in the direction of the breskout
Current range; 1.1565-85 / 1.1640-60
Big event week ahead
Newsquawk Week In Focus 7-11 September 2026: Highlights include US & Chinese Inflation, ECB Policy Announcement, UK GDP
US Market Wrap: Hot NFP raises Fed rate hike bets ahead of CPI/PPI next week
SNAPSHOT: Equities mixed, Treasuries flatten, Crude up, Dollar up, Gold down’
Market Update (4 hour)
EURUSD shrugging off the better NFP and seems set to close (bu not too far) above 1.16, a level that has printed 6 days in a row.and thus a pivotal level going forward.
US500: Post-NFP retreat clinging to a bid after a pause just above 7700.
XTIUSD: Can’t make up its mind with limited follow through on both sides.
