Forex Weekly Forecast – EURUSD, GBPUSD, GOLD, BITCOIN – 7 June 2026
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The markets remained relatively quiet throughout most of last week before volatility returned sharply on Friday following the latest U.S. Non-Farm Payrolls report. While employment growth remained below the 200,000 mark, the labor market continues to demonstrate resilience, reinforcing concerns that the Federal Reserve may need to maintain restrictive monetary policy for longer than previously anticipated.
As a result, market expectations for rate cuts continue to fade, while speculation about the possibility of future rate hikes has started to re-emerge. The reaction triggered significant moves across major currency pairs, commodities, and cryptocurrencies.
As we move into a new trading week, traders should prepare for several high-impact economic events that could shape market direction.
Key Economic Events This Week
The week ahead brings several important fundamental catalysts:
- U.S. Consumer Price Index (CPI) data on Wednesday
- Core CPI and headline inflation releases
- European Central Bank (ECB) Interest Rate Decision on Thursday
- Bank of Canada Rate Decision
- U.S. Producer Price Index (PPI)
- Additional inflation-related economic releases
Current forecasts suggest inflation readings may increase further. Should inflation surprise to the upside, pressure on the Federal Reserve could intensify, potentially strengthening the U.S. dollar and maintaining bearish pressure across several major assets.
Before we dive into the charts, a quick reminder:
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With that backdrop in mind, let’s examine the technical outlook for EUR/USD, GBP/USD, Gold, and Bitcoin.
EUR/USD Forecast: Bearish Pressure Remains
EUR/USD continues to follow the bearish scenario discussed in our previous market outlook.
The pair delivered the anticipated downside movement and remains under pressure as the market continues to respect the broader bearish divergence structure.
From a technical perspective, the primary focus remains on the completion of an ABCD corrective pattern.
Recent downside momentum was supported by a successful range-break setup, which generated another profitable trading opportunity within Home Trader Club.
I expect the price to move lower towards the daily key levels
Until the ABCD pattern completes and bullish divergence begins to develop, sellers are likely to remain in control.
EUR/USD Technical Outlook
- Bearish divergence remains active.
- ABCD correction is still developing.
- Sellers continue to dominate market structure.
- Any short-term pullbacks may offer fresh selling opportunities.
- A meaningful bullish reversal is unlikely before bullish divergence emerges near key support zones.
As long as current market conditions remain unchanged, selling rallies continues to be the preferred strategy.
GBP/USD Forecast: Sellers Remain Firmly in Control
GBP/USD has also performed in line with expectations, moving lower toward previously identified support and volume zones.
The broader bearish structure remains intact, supported by a combination of:
- Bearish divergence
- False breakout formation
- Weakening bullish momentum
The pair continues to trade within a corrective environment, with sellers maintaining control of the larger trend.
GBP/USD Technical Outlook
A dynamic support trendline may act as an important decision point in the coming sessions.
Two scenarios are currently in focus:
Scenario 1: Bullish Divergence Appears
- ABCD correction completes.
- Temporary rebound develops.
- Short-term buying opportunities emerge.
Scenario 2: No Divergence Forms
- Support breaks.
- Retest follows.
- Additional downside continuation occurs.
Current market conditions favor further weakness unless significant bullish divergence begins to build.
And similar to the Eurodollar, this one is also a trade we are involved with on the Pound-Dollar. Our plan here is that this is our trigger zone. And from there we are in the sell.
On the shorter-term charts, traders should monitor the recent consolidation range where buyers previously stepped in. This area may generate temporary reactions, although the broader bearish outlook remains dominant.
Gold Forecast: More Downside Potential Ahead
Gold continues to respect the bearish scenario outlined in previous forecasts.
The metal rejected from the identified resistance zone and has since moved lower as anticipated.
While short-term corrections remain possible, the larger technical structure still points toward additional downside before a sustainable bottom can form.
Gold Technical Outlook
So last time we discussed about this one, we marked some key levels and these were the ones we expected to see holding. And from there to get the gold, pushing it to the downside.
Current analysis suggests:
- Bearish pressure remains intact.
- Recent resistance levels continue to hold.
- Additional declines toward major support zones remain possible.
- A meaningful bottom is more likely to develop only after bullish divergence appears.
The first downside target remains the recent lows, while the broader support zone near the 3500–3600 area continues to represent an important destination for the current correction.
Until buyers demonstrate clear strength through divergence and momentum shifts, rallies are likely to remain corrective in nature.
Bitcoin Forecast: Weekly Bearish Divergence Still Dominates
Bitcoin continues to follow the larger corrective scenario discussed in previous market updates.
After reaching the projected rejection area, the cryptocurrency has started to show signs of weakness, supporting the bearish outlook.
Most importantly, the weekly bearish divergence remains active, suggesting that the correction may not yet be complete.
Bitcoin Technical Outlook
Current expectations include:
- Continued downside pressure.
- Potential retest of recent lows.
- Possibility of deeper declines into major support zones.
- Weekly divergence remains the key factor guiding the outlook.
From a longer-term perspective, Bitcoin may eventually create an attractive buying opportunity. However, before that can occur, the current bearish divergence likely needs to fully play out.
Until then, rallies continue to be viewed as selling opportunities rather than signs of trend reversal.
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
Home Trader Club
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