🗞️The first half of the week has been defined by a light data calendar and markets leaning on yields, Fed tone, and broader risk sentiment for direction. With major releases still pending, the dollar has eased slightly but remains structurally firm, equities have stabilised after last week’s volatility, and commodities have traded without clear conviction.
📈EURUSD has drifted lower on rate-differentials, USDJPY continues to respect its strong bullish backdrop, and Gold has been choppy as flows shift between risk and safety. Overall, it’s been a quiet macro environment where price action has provided the clearest guidance.
🎙️With fundamentals offering little fresh direction, this is a good moment to turn back to the charts. In the Mid-Week Technical Corner, we revisit the key levels and scenarios mapped out in Sunday’s analysis, checking how price has developed since then and whether structure still aligns with our broader bias. Let’s break down where each asset stands now and what the next few days may reveal.
Let’s dive into the charts!
🇪🇺 EUR/USD
EURUSD H4 Chart
Price has followed our Sunday roadmap cleanly. After tapping the Daily Order Block, EURUSD rejected decisively and retraced back into the Daily Fair Value Gap, exactly as anticipated.
Bearish orderflow remains intact, with clear respect of the premium OB.
Price is now sitting inside the Daily FVG — the main decision point.
A clean close below the FVG opens the path toward 1.14000 sellsides.
For now, we watch how price behaves within this imbalance before confirming the next leg.
🇯🇵 USD/JPY
USDJPY H4 Chart
This marks the 6th straight week USDJPY has followed our analysis with precision. Price has reached our projected target, allowing us to close 80% of our position while letting the remainder run.
Price has now entered the Daily Order Block, a key zone for spotting any potential bias shift.
As long as price holds above structure, our next draw remains 159.000.
The reaction within this Daily OB will determine whether momentum extends or begins to cool.
🟨 Gold (XAU/USD)
XAUUSD H4 Chart
Price is consolidating around the 50% retracement of the previous bearish leg. We saw a clean rejection from the H4 FVG, confirming short-term bearish pressure.
As long as price stays below this imbalance, the draw remains toward lower prices.
Short-term targets hold, with liquidity sitting beneath recent swing lows.
A strong move back above the FVG would be the first sign of a potential shift — but for now, orderflow still favours the downside.
📊Nasdaq-100 Futures (NQ)
NQ H1 Chart
Price is beginning to stabilise after last week’s deeper drop, and the reaction from this intraday FVG will be key in confirming whether bullish continuation is ready to develop.
A clean reaction from the H1 FVG would support continuation higher.
Our bias and initial short-term objective remain the same.
Holding above this FVG keeps the path open toward the next liquidity pool and short-term target.
Failure to hold this imbalance would open the door for a deeper pullback into lower support.
🧩Final Word
Price action this week has largely validated the roadmap we laid out on Sunday. EURUSD continued to respect its bearish structure, USDJPY delivered its sixth consecutive week of precision with our targets, Gold maintained short-term downside pressure, and NQ is beginning to stabilise with the potential for continuation if intraday imbalances hold.
With fundamentals offering little new direction this week, technicals continue to be our clearest guide — and so far, price has responded exactly where it should. As we move into the latter half of the week, the key remains how markets react around the FVGs, OBs, and midpoints we’ve highlighted. These zones will determine whether current trends continue or if short-term shifts begin to develop.
As the week unfolds, stay patient, stay adaptable, and let price reveal the truth before you act!
And as always — Stay Safe and Happy Trading!👁️🗨️
— The UE Market Letter Team
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