The US dollar is surrendering ground; XAUUSD appears softer this morning; EURUSD does not reflect a similar tone of caution; Bitcoin trades calmer, though notably less impulsive.
- The greenback appears to be in defence rather than attack mode ahead of the NFP report due later today.
- The broader bullish structure in gold remains intact, though for now the metal seems more inclined towards consolidation and modest profit-taking following its recent advance rather than continuing to push aggressively higher.
- EURUSD is displaying a convincing upside momentum.
- Bitcoin investors are clearly reducing risk appetite and waiting for clarity on the NFP prints.
Today’s focus
| US Nonfarm Payrolls due at 15:30 MT time |
FX snapshot
XAUUSD
Currently, gold requires either a weak US labor report or a more serious geopolitical deterioration to trigger another leg higher.
EURUSD
However, a stronger-than-expected US report could place renewed downward pressure on the pair.
BTC
If payrolls disappoint and the USD weakens, Bitcoin could quickly regain upward momentum.
| Pair | Key support | Key resistance | Bias |
| XAUUSD | 4,680 | 4,750 | Consolidating |
| EURUSD | 1.17200 | 1.17500 | Bullish |
| BTC | 79,200 | 81,000 | Downward |
Market sentiment
This morning’s session is no longer trading in a clear risk-on environment, but rather in a state of cautious hesitation. Investors appear indifferent toward positioning ahead of today’s Nonfarm Payrolls release. The market views today’s data as the key event capable of reshaping short-term expectations.