Forex Weekly Forecast: DXY, EURUSD, GBPUSD, USDCHF, XAUUSD Analysis (Nov 17-21, 2025)

As the week of November 17-21, 2025, approaches, the Forex market is poised for notable volatility. Traders are eyeing the US Dollar Index (DXY) along with key currency pairs like EURUSD, GBPUSD, USDCHF, and gold (XAUUSD) for potential shifts in momentum.

DXY Outlook

The DXY recently fell below 99.40, setting its sights on the 98.90 mark. This level was previously identified as significant. The DXY’s ability to close below this threshold indicates consolidation, as it struggled to surpass the 100.25 resistance recently. To shift sentiment back to bullish, a close above 99.40 is essential.

Short-term projections suggest that breaking above 99.40 could extend gains towards 99.75, with the 100.80 level being crucial for later in the month. A continued pullback keeps the index on the defensive, but a decisive move above 99.40 could signal a bullish trend.

EURUSD Analysis

The EURUSD has shown an upward trend since November 5, yet has not reversed its longer-term downtrend that began in September. The 1.1660 level serves as a significant support area, needed for bulls to reclaim control. This level marks where the pair spent considerable time between July and November.

• Key Support: 1.1608 (reversed from resistance)
• Resistance: 1.1660 (critical for bullish sentiment)

Traders are cautious, as a failure to maintain above 1.1600 could target the November opening at 1.1528. The challenges at 1.1660 could hinder potential rallies next week.

GBPUSD Forecast

The GBPUSD remained stagnant last week, following a bullish pin bar formation. Despite holding above the 1.3130 support level, there was minimal upward momentum. Should the DXY recapture 99.40, pressure could build on GBPUSD, with areas around 1.2950 coming into play.

• Next key level: 1.3100 (below this, bearish sentiment may increase)
• Potential target: 1.2945 and 1.2966 (areas of interest)

Currently, GBPUSD appears weak unless significant developments occur in US dollar strength.

USDCHF Insights

The USDCHF presented opportunities last week, particularly in the 0.8060-0.8075 range. Following precise strategies, buyers targeted the mid-range at 0.7987, with the pair testing lower limits and forming a bullish pin bar.

To ensure a bullish outlook, the DXY must reclaim 99.40. If this occurs, targets could extend to 0.7987 and 0.8070.

XAUUSD (Gold) Assessment

Gold prices surged past the $4,030-$4,060 range, in line with previous forecasts. However, a recent pullback raised concerns about the market structure, particularly after closing below the $4,211 level.

• Support zone: $4,140 (critical for maintaining bullish sentiment)
• Potential for a pullback to $4,020 if sellers defend the $4,126 area

Gold is currently on shaky ground and will require careful monitoring of price action next week.

In summary, the week of November 17-21, 2025, will be pivotal as traders navigate the complexities of the Forex market, focusing on the DXY, EURUSD, GBPUSD, USDCHF, and gold. Each asset carries unique challenges and opportunities based on their technical levels and the prevailing market sentiment.