Markets will be watching the FOMC meeting minutes release, which will be published on Wednesday. Traders and investors will see whether policymakers are ready to make another rate cut or whether they will stick to their wait-and-see approach for longer. Moreover, the minutes will provide insight into debates between hawks and doves as well as how the Fed consider current situation with economic growth, the labor market, and inflation.

In Europe, the Bank of England is on alert as inflation remains higher than expected, which provides support to the UK currency. When it comes to the Eurozone, the European Central Bank is unlikely to change interest rates until late 2026. 

The situation with commodities remains uncertain. Oil is supported by tensions between the US and Iran. However, current negotiations between the two sides, which will continue in Geneva later on Tuesday, may put some pressure on WTI as de-escalation will evaporate fears of supply disruptions.

When it comes to Gold, which is a traditional safe-haven asset, it is under pressure due to a stronger US dollar. Markets will closely watch the outcomes of the FOMC meeting minutes to see whether the rate cut may come soon, which may stimulate Gold growth. 

Apart from FOMC meeting minutes, market participants will closely watch the US inflation data on Friday as well as GDP QoQ dynamics in the United States. 

EUR/USD: Supported by ECB Outlook, but Dollar Strength Checks Gains

The currency pair remains under pressure due to the latest data releases in the United States. Surprisingly better NFP and unemployment rate data supported the greenback. However, markets will focus on the FOMC meeting minutes and data from the US that is planned to be released on Friday. The ECB appears comfortable with the current monetary policy stance, which means that they are unlikely to cut rates before autumn 2026. While in the short term, the currency pair still has potential to nosedive, in the mid and long-term, EUR/USD may reach 1.2000 and even higher marks.

From a technical analysis perspective, the currency pair is trading close to the middle band of the Bollinger Bands indicator with low volatility. Traders can go long from 1.1850, targeting 1.1930 and 1.2000. On the downside, short positions will be preferable below 1.1800 with targets at 1.1750 and 1.1700.

GBP/USD: Mixed Sentiment as UK Data Struggles Weigh on Sterling

The British Pound remains under pressure after the release of the GDP data last week, showing that economic activity is slowing down. The Bank of England remains cautious as inflation is still above 3%. However, rumors that the BoE may conduct another rate cut in the near term put additional pressure on the curency pair.

From a technical analysis view, the currency pair stays below the middle line of the Bollinger Bands indicator. The bands are widening, demonstrating higher volatility. Traders can buy from 1.3600 targeting 1.3670 annd 1.3700. On the downside, traders can go short from 1.3580 targeting 1.3500 and 1.3450.

WTI Crude Oil: Range‑Bound Amid Geopolitical Talks and Supply Forecasts

Crude oilk finds support amid ongoing tensions between Iran and the US, which may lead to supply disruptions. However, the uptrend is limited as the negotiations between the two sides prevent the commodity from reaching higher levels. OPEC+ talks about increasing production from April 2026 put further pressure on Oil.

From a technical analysis perspective, WTI is trading close to the upper band of the Bollinger Bands indicator with the bands being narrow, which means that the volatility ie relatively low. Traders can buy from 64.10, targeting 65.00 and 66.00. On the downside, traders can sell from 63.50 targeting 63.00 and 62.00.

Gold (XAU/USD): Elevated Safe‑Haven Flows Amid Macro Uncertainty

Gold remains under pressure as safe-haven demand is lowering amid deescalation of trade tensions. Moreover, uncertainty around further Fed decisions puts additional pressure on the precious metal. FOMC meeting minutes may shed light on Fed decisions, which may help gold traders find some cues and push Gold higher or lower this week.

From a technical analysis perspective, Gold is trading below the middle line of the Bollinger Bands indicator. Traders can go long from 4,930 targeting 5,000. On the downside, by breaking below 4,900, Gold is likely to continue its decline towards 4,860 and 4,840.