Market Analysis
XAUUSD weekly: gold retreats 103 pips to 4436.63, 2026-06-01
Gold opened the week at 4539.41 and closed at 4436.63, shedding 103 pips as risk appetite improved.
2 min readEUR/USD opened Monday at 1.16481 and touched a weekly high of 1.16644 before sliding to close Friday at 1.16141. The pair shed 340 pips or 0.29% across the five trading days, with the bulk of losses concentrated in Wednesday's session where price dropped to the weekly low of 1.15941.
Thursday's headline captures the week's story: "The USD has reversed most of the earlier declines vs the EUR, JPY and GBP." Dollar strength emerged as the dominant theme, particularly as Asian markets came under pressure. South Korea's KOSPI index plunged sharply while the won hit a 17-year low against the dollar, triggering safe-haven flows into USD.
China's central bank policy moves added to the dollar bid. When emerging market currencies weaken sharply, EUR/USD typically catches the spillover selling as traders reduce risk exposure across the board.
No high-impact events are scheduled for EUR/USD in the coming week according to the economic calendar. This leaves the pair vulnerable to continued position squaring and technical trading. Without fresh fundamental catalysts, any recovery attempts will likely meet resistance near this week's high at 1.16644. Conversely, a break below Wednesday's 1.15941 low would open the path toward 1.1550.
LHFX client positioning shows 51.6% of traders are long EUR/USD versus 48.4% short as of Friday morning. This nearly balanced split reflects the market's indecision after the week's volatility. The slight long bias suggests retail traders view current levels as a buying opportunity, though the narrow margin indicates no strong conviction either way.
The weekly low at 1.15941 stands as immediate support. If price closes below there, the psychological 1.1550 level comes into focus. On the upside, this week's high at 1.16644 marks first resistance, followed by the 1.1700 round number. Friday's tight 97-pip range suggests consolidation before the next directional move.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
LHFX consists of the following entities:
LHFX is a trading name of Longhorn Ltd, a Mauritius company authorized and regulated by the Financial Services Commission Mauritius under the Investment Dealer license number GB23202204, Code SEC-2.1B Office Address: Suite 102, 1st Floor, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius. GBC Number C200455
LHFX SA (PTY) Ltd is an authorised Financial Service Provider ("FSP") registered and regulated by the Financial Sector Conduct Authority ("FSCA") of South Africa under license number 52816. Registered address: 1 Hood Avenue Rosebank Johannesburg Gauteng 2196
Longhorn Ltd does not offer Fiat exchange services nor Cryptocurrency exchange services.
The information on this website does not constitute, nor should it be construed or understood as an inducement or solicitation to engage in any investment or trading activity in any jurisdiction where such activity would be contrary to local law or regulation.
LHFX does not provide services to citizens and residents of the United States or any country where such distribution or use would be contrary to local law or regulation.
RISK WARNING
Margin trading in foreign currency, virtual assets or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.
CFDs are complex instruments and carry a high risk of losing money due to leverage. Consider whether you understand how CFDs work and whether you can afford the high risk of losing money.
Tax may be payable on any profits and you should seek independent advice on your taxation position.