EUR/USD breaks support, Eyes 1.0950, Gold risks $3,500; USD/JPY breaks 159 resist; Bitcoin to $65K? [Video]

Kim Cramer Larsson KCL Consult

The US dollar is strengthening across major currency pairs, with EURUSD breaking below 1.11 and targeting 1.0950, potentially 1.07–1.08 in the medium term. GBPUSD also looks vulnerable, while USDJPY breaks above 159 and could test 160.40. The Dollar Index is targeting 104.35.
Gold and silver are back under selling pressure. Gold is testing critical support around $3,885, with a break potentially opening the door towards $3,500. Silver could decline towards $45.50.
Cryptocurrencies remain bearish, with Bitcoin facing downside risk towards $67,000 and potentially $65,000. Meanwhile, US 10-year Treasury yields have rebounded above 5%, reinforcing the dollar’s bullish momentum.

Author

Kim Cramer Larsson

KCL Consult

Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.

AUD/USD weakens to multi-month lows; challenges 0.6800

AUD/USD has come under heightened downside pressure, briefly slipping back below the 0.6800 yardstick on Thursday. Indeed, the pair has revisited levels last seen in late January in response to the continuation of the bullish momentum favouring the Greenback, which remained propped up by rising bets over extra Fed tightening.

USD/JPY eases from near 160.00 amid looming intervention risks, BoJ hike bets

USD/JPY retreats slightly from an over two-month high as the recent surge back to the 160.00 psychological mark prompted verbal warnings from Japanese authorities and sparked fears of direct FX intervention. Moreover, data showed that Japan’s wholesale inflation picked up again in October, strengthening the case for a BoJ hike in December and lifting the Japanese Yen. However, a bullish US Dollar, bolstered by odds of a jumbo Fed rate hike in December, could cap the pair's downside.

Gold shifts the focus to $3,800 amid stronger US Dollar

Gold comes under heightened downside pressure, retreating for the third consecutive day and approaching the $3,800 region per troy ounce on Thursday. Increasing speculation of a 50-bps rate hike by the Fed in December continues to weigh on the precious metal amid further gains in US Treasury yields.

Dogecoin Price Forecast: DOGE tests three-year low as selling pressure deepens

Dogecoin (DOGE) trades lower around $0.0650 on Thursday, as bears tighten their grip. The path of least resistance remains downward not only for the largest meme coin by market capitalization but also for crypto majors Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP). DOGE is down about 2.6% on the day, aligning with levels last seen in October 2023.

Nvidia shares crash as Jensen Huang resigns as CEO

Nvidia (NVDA) shares collapsed in Thursday's premarket after longtime CEO and co-founder Jensen Huang resigned as CEO in the face of board scrutiny over several affairs. Nvidia shares have shed 10% at the time of writing as the leading AI chipmaker chose chief financial officer (CFO) Colette Kress as interim CEO.

What the US CPI headline doesn’t tell you about inflation

Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.