Weekly forecast · 2 to 6 Nov 2026

Nov 2 to 6 weekly setups: gold sits on last week's low, payrolls Friday, BoE and RBA decide

By Emanuele Calcina · Published 31 October 2026 · Prices are Friday closes, pulled 31 October 2026 · All weekly forecasts

Gold lost 3.02% last week. It opened at 3997.19 and ran up to 4081.96 before rolling over to a 3874.59 close, a few ticks off the 3869.98 low. We start the new week at 3876.40, still sitting on that floor.

The coming week is a jobs week. ISM manufacturing opens it on Monday, JOLTs lands Tuesday, ISM services comes Wednesday, and nonfarm payrolls close it on Friday Nov 6 with the forecast at 65 against a prior 29 [h2]. There's a central bank leg too, with the RBA on Monday night and the BoE on Thursday. Every market below gets last week's open, high, low and close, its own calendar for the week, and the levels that matter.

The week at a glance

Closes are last week's, 26 to 30 October: CoinGecko daily closes at 00:00 UTC; Dukascopy 1-minute bid candles; ECB reference rates via Frankfurter, one close per day. FX rates are one reference close per day, so the weekly high and low are the highest and lowest daily closes, not intraday extremes. The week-ahead times are New York time (ET).

GoldGold sits near last week's low with payrolls set to decide the week

Gold opened at 3997.19 and closed at 3874.59, down 3.02% on the week. It tagged 4081.96 first, then sellers took it apart and drove price under 4000 (FXStreet). Firm US data did the damage and kept the high-for-longer rate story alive (FXStreet).

What moved it

This is the same weight that has sat on gold all month. Sticky inflation and firmer energy keep real yields up, and metal that pays nothing struggles when rates stay high (FXEmpire). Some desks still call the current support a base for a Q4 bounce (TradingView), but the rebound stalled and the breakdown crowd is circling (StoneX) (www.tmgm.com).

The week ahead

Jobs week, and it lands on a market already leaning short. The data either confirms the tight-Fed read or breaks it.

Levels

Resistance is last week's high at 4081.96, with the open at 3997.19 the first ceiling above current price. Support is last week's low at 3869.98, and the close at 3874.59 sits just under current price.

Lose 3869.98 on a daily close and the sellers get the breakdown they want [h5]. Reclaim 3997.19 and last week's bearish read is in trouble.

EUR/USDEUR/USD leaks from its weekly high with euro-zone CPI and payrolls ahead

Open and high landed on the same number last week, 1.1188, and it was downhill from there. The euro closed at 1.1172 for a 0.19% loss and spent the week grinding toward last week's low at 1.1130. Weak euro-zone business surveys did the work while the dollar held firm (investingLive).

What moved it

The gap between the two economies is the whole trade. Europe keeps growing, but slower, while US activity stays firmer, and that split is where the euro loses out (Barchart.com). Price took out this year's lows last week, and even the desks looking for a rebound are not ready to call the bottom (StoneX) (Barchart.com).

The week ahead

Wednesday brings euro-zone inflation, and Friday is all about US jobs. Two sides of the same rate story.

Levels

Resistance is last week's high at 1.1188, the same spot the euro opened and failed from. Support is last week's low at 1.1130, with the close at 1.1172 holding above it.

Break 1.1130 and the new-low story gets a fresh leg [h5]. Reclaim 1.1188 and the sellers lose their grip on the week.

GBP/USDCable claws back to close the week at its high before the BoE

Sterling closed the week at 1.3399, which was also the high, up 0.23% from 1.3368. Early in the week it tested new lows and got called out as under pressure (investingLive) (Continuum Economics). Then it reversed and finished at the top of the range.

What moved it

The pound's week is really about Thursday. The Bank of England decision and the vote split are the swing factors, and a hawkish surprise would back up Friday's close at the high (StoneX). US data has been firmer lately, so cable's late strength has to get past both its own central bank and a jobs report (Action Forex).

The week ahead

Thursday is Bank of England day, stacked with the rate call and the vote breakdown. Friday hands it to US payrolls.

Levels

Resistance is last week's high at 1.3399, the level cable closed right on. Support is last week's low at 1.3288, where price got bought last week.

Hold above 1.3288 through the BoE and the recovery stays intact. Lose it and the under-pressure story from midweek is back [h6].

USD/JPYDollar-yen fades to its weekly low with payrolls and the BoJ in view

USD/JPY finished at 157.25, up 0.29% from 156.80, but that close was also the weekly low. It ran to 158.06 before the AI trade and firmer US yields gave way to a Friday fade (StoneX) (FOREX.com). The pair gained ground on the week yet handed the day back.

What moved it

The yen keeps tracking yield gaps more than its own data. When Japanese yields slip and US yields steady, dollar-yen gets a bid (StoneX). Traders are already looking past last week to the BoJ and whether December brings another move, so the pair is caught between a rally that stalled and resistance higher up (Investing.com) (FOREX.com).

The week ahead

The dollar side of this pair carries the week, with jobs on Friday. Japan's input comes through the BoJ minutes.

Levels

Resistance is last week's high at 158.06, with the open at 157.45 the first hurdle above the close. Support is last week's low at 157.25, which was also where the week closed.

A clean break above 158.06 puts the earlier rally back in charge [h1]. Lose 157.25 and the Friday fade turns into something bigger [h6].

USD/CADUSD/CAD shuts the week at its low as the loonie keeps the upper hand

USD/CAD opened at 1.4028. It closed the week right on its low at 1.3969, down 0.19%, with the Canadian dollar doing the heavy lifting as firmer energy and a softer US dollar pulled the pair lower across the five sessions (Baystreet.ca) (FXStreet). That makes two down weeks running.

What moved it

The bigger frame is the central bank showdown (Investing.com). Both the Bank of Canada and the Fed are in play this week, and the tape has been reading as a bearish corrective trend for the pair while sellers keep the upper hand (Economies.com) (investingLive). Oil feeds it. A stronger crude market tends to hand the loonie a bid, and that has been the story.

The week ahead

Data stacks up on both sides of the border. Friday decides it.

Levels

Resistance is last week's high at 1.4047. Last week's open at 1.4028 sits just above the close as the first ceiling. Support is last week's low at 1.3969, which is also where the week closed.

A daily close under last week's low confirms the bearish read [h8]. Reclaim last week's open at 1.4028 and the two-week slide is suddenly in doubt.

USD/CHFUSD/CHF stays heavy near last week's low as the rate gap fight rolls on

The franc had the edge last week. USD/CHF opened at 0.8262 and settled right on its low at 0.8229, off 0.18%, as safe-haven buying did most of the work while the carry trade kept a floor under the dollar through the week (Forex Factory).

What moved it

The driver is the rate gap. US rates sit well above Swiss rates, so holding dollars still pays, and that carry keeps pulling against every franc rally the market tries to build (Forex Factory). The chart tilts lower (Continuum Economics). Sellers keep pressing key support (investingLive). The Fed is what the whole pair waits on.

The week ahead

Swiss data comes early. The US jobs picture comes late.

Levels

Resistance is last week's high at 0.8306. Last week's open at 0.8262 is the nearer cap above the close. Support is last week's low at 0.8229, the very level the week closed on.

Break last week's low and the lean lower [h4] extends. Back above last week's open at 0.8262 and the franc's grip starts to slip.

AUD/USDAUD/USD coils flat into the Fed with a breakout building under the surface

Nothing happened. That is the point. AUD/USD opened at 0.7024 and closed at 0.7024, up 0.03% on the week, with a high of just 0.7033, so the pair spent five sessions pinging between its moving averages and coiling ahead of the Fed (investingLive) (StoneX) (FXStreet).

What moved it

The push and pull is real. Australia's business surveys have softened, which would normally weigh on the Aussie, but sticky inflation keeps a rate hike on the table and cancels out some of that drag. Sentiment has stretched to an extreme into the Fed (FOREX.com). Traders see breakout risk once this range finally cracks (StoneX).

The week ahead

The RBA goes first, Monday night. Then it's the US jobs run into Friday.

Levels

Resistance is last week's high at 0.7033, the ceiling this range keeps bumping. Support is last week's low at 0.7024, which is also the open and the close.

A clean break of last week's high at 0.7033 is the breakout the chart has been coiling toward [h1]. Lose last week's low at 0.7024 and the flat range tips the other way.

NZD/USDNZD/USD takes the week's hardest hit after the RBNZ surprise

This was the week's big mover. NZD/USD opened at 0.5681 and closed at 0.5636, down 0.90%, after printing a low of 0.5613 on a surprise RBNZ hold that caught a market leaning the other way, and sellers kept control into the close (investingLive) (TradingKey).

What moved it

The setup going in was for a possible hike, so the hold landed as a shock and the Kiwi paid for it (FOREX.com). Sellers have stayed in charge since. Every rebound keeps stalling (investingLive). Bears are now eyeing the lower levels from earlier this year, and a firmer dollar gives them cover (Mitrade).

The week ahead

New Zealand's jobs data comes Tuesday night. The US jobs week runs around it.

Levels

Resistance is last week's high at 0.5703. Last week's open at 0.5681 is the first hurdle above the close. Support is last week's low at 0.5613, below where the week closed at 0.5636.

Lose last week's low at 0.5613 and the sellers get the break they want [h8]. Reclaim last week's open at 0.5681 and the post-RBNZ drop starts to look overdone.

EUR/GBPEUR/GBP closes at a fresh year low with the BoE in the way

The pair opened the week at 0.8382 and never got higher. It closed at 0.8338, down 0.42%, right on the low, the weakest the euro has been against the pound all year (Newsquawk) (Continuum Economics). Sellers kept every bounce capped (FXStreet).

What moved it

This has been about the pound all along. UK data has held up and the market is leaning toward a Bank of England move, which keeps sterling bid and the cross heavy (FOREX.com) (FXStreet). Wave and chart reads point the same way, lower, with studies under pressure (Action Forex) (Continuum Economics).

The week ahead

This is a big week for the cross. Euro inflation lands midweek, then the Bank of England takes over Thursday.

Levels

The ceiling is last week's high at 0.8382, which was also the week's open. Support is last week's low at 0.8338, the same place the week closed.

A close back below last week's low at 0.8338 keeps the fresh year lows coming [h3]. A push back above last week's high at 0.8382 would be the first real sign the selling is spent.

BitcoinBitcoin ends the week pinned to its low after a hack and forced selling

Bitcoin had a rough week. It opened at 80029, printed a high at 81274, then rolled over to close at 77326, down 3.40% and a hair above the low. A record Binance hack and a wave of long liquidations did the damage (Bitcoin Magazine) (Yahoo Finance).

What moved it

Underneath it was a risk-off tape. Middle East worries pulled money out of anything speculative (CoinDesk), and the Binance breach gave nervous holders another reason to sell (Bitcoin Magazine). The one bright spot is that bitcoin held up better than you might expect after a hit that size (CNBC).

The week ahead

The macro calendar is stacked this week, and bitcoin trades off the risk mood it sets.

Levels

Resistance starts at last week's open at 80029 and runs up to the high at 81274. Support is last week's low at 77223, which sits just under where the week closed at 77326.

Lose last week's low at 77223 and the selling just extends with little in the way [h5]. Reclaim last week's open at 80029 and the dip buyers, ETF money included, start to look right.

The calendar that decides it

Every high and medium impact release for 2 to 6 November 2026, in New York time. High impact rows are in bold. Forecast and previous are the consensus figures published with the calendar.

We'll track all of it against the levels above as the week trades. Watch last week's 3874.59 close and 3869.98 low on gold, and let Friday's payrolls tell you if the floor is real. Follow the setups with us live.

Questions traders asked us this week

Trading gold, FX and crypto on margin carries a high level of risk and you can lose more than your deposit. Nothing on this page is a personal recommendation. Levels are last week's high, low and close and can be invalidated by a single print.