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Welcome to a brand-new trading week, and the first week of June.
Volatility is picking up fast and this week is packed with catalysts:
You’ve got rate decisions from both the Bank of Canada and the ECB…
Non-Farm Payrolls to close the week…
And macro pressure building in every major asset.
Could one weak NFP break the dollar's back?
Will the DAX explode if the ECB flinches?
Nikkhil stripped away the distractions, aligned the macro events with precise technical structure, and outlined the real opportunities hiding inside this week's volatility.
Let’s break them down one by one…
Dollar Index (DXY)
The dollar remains under pressure. On the monthly chart, we’re seeing a confirmed bearish cycle, with price consistently rejected at the 78.6 fib retracement zone. Now, two bearish extensions are pointing toward key downside magnets at 96.66 to 96.33. On the daily chart, the structure is dominated by lower highs, with no bullish divergence in sight. The most recent bounce failed at resistance near 101.14 - 101.65, and the 4H has already breached its rising trendline, retested it as resistance, and resumed downward movement. If this Friday’s NFP disappoints, the slide could accelerate rapidly into the 96s.
CHFJPY
The Swiss yen is surging into new territory. The monthly chart has entered a fresh bullish cycle, already trading above the 125 and 138 fib extension levels, with 193.71 now acting as a powerful magnet target. Multiple extensions on both the monthly and weekly charts align here, giving this level major significance. On the daily timeframe, price is consolidating above 172.50, with MACD still supporting the uptrend. The 4H shows sideways movement after a breakout and retest, and buyers appear to be loading up again. First targets: 177.50, then 179.21, and if momentum holds, 181.14.
DAX (German 40)
DAX continues its relentless rally. The monthly chart shows textbook bullish structure: higher highs and higher lows stretching back multiple cycles. Key support now sits at 19,595, with resistance nearing 24,257, and the next fib extension pushing toward 25,500 - 26,000. Weekly and daily charts remain structurally bullish, though we’re currently seeing some consolidation just below resistance. If the ECB eases its tone this week, it could trigger a breakout toward the 25k handle and beyond. 4H momentum has slowed, but no bearish structure is confirmed yet, meaning this is likely just a pause.
GBPCHF
This one’s sliding quietly but with technical clarity. On the monthly chart, GBPCHF is stuck in a corrective phase, respecting major fib retracement zones and failing to break structure. Multiple lower highs are printing, and even though the trendline was briefly breached, it turned out to be a false breakout. Weekly structure confirms the bearish drift, and daily shows a rejection from resistance at 1.1174 with bearish divergence confirmed. The breakout structure is complete, and 4H now aligns with strong downward momentum. Initial target sits at 1.0935, but the next fib support at 1.0646 is in view.
XAUUSD (Gold)
Gold is in a battle between bullish structure and short-term resistance. On the monthly and weekly charts, gold remains decisively bullish, with major resistance at $3,493 - $3,500, and firm support at $2,663. But zooming in, daily charts show price stalling below $3,360, with MACD histogram turning red, signaling possible consolidation or pullback. Short-term resistance sits at $3,319, $3,360, and $3,433. The 4H shows failed breakout attempts and weakening momentum, but support between $3,212 - $3,236 offers a compelling re-entry zone for bulls. As long as $3,200 holds, the bigger structure favors continuation higher.
June doesn’t wait.
It tests you from Day 1.
Nikkhil has outlined the pressure points, the clean setups, and the macro catalysts.
Now it’s up to you to prepare and execute with discipline.
Let’s make it a sharp, profitable week.
Click Here to Watch the Full Week Forex Forecast
Well talk soon,
Team Moneytize