Forex Market Update: Asia Session Leaves Dollar Mixed

Session brief Neutral bias Nov 4, 2026, 00:54 UTC

Daniel TanAsia-Pacific Market Analyst · ForexR analyst

The dollar is mixed in the Asia session: EUR/USD and GBP/USD sit above R1, while USD/JPY holds under its pivot, and the bias stays neutral into today's Eurozone HICP and ADP.

Where the Asia Session Stands

The forex market update for the Asia session opens on a neutral dollar, because the pairs do not agree. EUR/USD at 1.12175 and GBP/USD at 1.34364 are both above R1, at 1.12062 and 1.34312, beyond the top of the pivot ladder. The nearest prints overhead are the day high at 1.12231 on EUR/USD and the day high at 1.34442 on GBP/USD, so those R1 levels now sit underneath rather than ahead of price. USD/JPY at 158.342 is on the other side of its map, between S1 at 158.017 and the daily pivot at 158.381. The Nasdaq 100 at 27990.9 is below S1 at 28018.4, beyond the bottom of its ladder, with the daily pivot at 28165.2 and R1 at 28428.6 above and the day low at 27912.7 below. Daily trends on the dollar pairs are mixed, and the four-hour trends split as well.

On the day, Ethereum leads, up 0.66%, then EUR/USD up 0.24% and GBP/USD up 0.18%. AUD/USD is up 0.03%. Gold is down 0.1%, USD/CAD is down 0.12%, WTI crude is down 0.2% and USD/JPY is down 0.21%. The Nasdaq 100 is down 1.03% and Bitcoin lags, down 1.23%. These are changes since the previous close for the whole trading day, not Asia-session swings. Over five days, EUR/USD is up 0.84% and GBP/USD is up 0.99%, while the Nasdaq 100 is down 5.54% and gold is down 3.3%. Ethereum's lead on the day conflicts with a daily trend and a four-hour trend that are both down.

Levels on EUR/USD, GBP/USD and USD/JPY

EUR/USD, up 0.84% over five days, has a mixed daily trend and an up four-hour trend, with the 14-day RSI at 42.7 and 14-day ATR at 62.2 pips. The day low is 1.11823, the daily pivot is 1.11903 and S1 is 1.11746. A break above the day high at 1.12231 would open the way beyond the printed range, with R1 at 1.12062 left as the first shelf back below. A move back under the daily pivot at 1.11903 would invalidate that extension and put S1 at 1.11746 in view. Those rungs are the day's pivot points.

GBP/USD is also above its R1, and the 14-day RSI at 58.7 sits alongside 42.7 on EUR/USD. The daily trend is mixed, the four-hour trend is up and 14-day ATR is 66.6 pips. The day low is 1.34047, the daily pivot is 1.34132 and S1 is 1.33948. Holding above R1 at 1.34312 keeps the day high at 1.34442 as the cap overhead. Clearing that day high would leave the day's range behind. A fall back through the daily pivot at 1.34132 would undo the extension, exposing the day low at 1.34047 and then S1 at 1.33948.

USD/JPY does not join that extension. Price is down 0.21% on the day and up 0.27% over five days, the daily trend is mixed and the four-hour trend is up, and the 14-day RSI is 58.7 with ATR at 89.9 pips. The day high is 158.721, the day low is 158.233 and R1 is 159.035. A break above the daily pivot at 158.381 would open the way to the day high at 158.721 and to R1 at 159.035. A move back below the day low at 158.233 would weaken that path, and a break of S1 at 158.017 would invalidate it. AUD/USD, at 0.6966, is up 0.03% on the day and down 0.82% over five days, with both trends down, the 14-day RSI at 41.9, and the day high at 0.69721 still under the daily pivot at 0.69758. S1 there is 0.69489.

Headlines and Today's Calendar

Headlines into this Asia session cluster around gold, covered by FX Street and Forex.com, and around US midterms, named by FX Street and Forex.com. Silver is a further metals theme from FX Street and FXEmpire. That newsflow describes what is being discussed and does not establish the cause of the day's moves.

London opens at 07:00 UTC. On today's economic calendar, Spain's HCOB services PMI is at 08:15 UTC, previous 58.3, medium impact. Germany's HCOB composite and services PMIs are both at 08:55 UTC, previous 52.8 and 51.7, estimates 52.8 and 51.7. The eurozone HCOB composite PMI is at 09:00 UTC, previous 51.9, estimate 51.9. High-impact eurozone HICP is at 10:00 UTC: month-on-month previous 0.6, year-on-year previous 3.8 with estimate 4, core year-on-year previous 2.5 with estimate 2.5, and core month-on-month previous 0.2. US ADP employment change is at 13:15 UTC, previous 90, estimate 69, high impact. ECB's Lane speech is at 13:20 UTC, medium impact, and the US S&P Global composite PMI is at 14:45 UTC, previous 57.6, estimate 57.6, medium impact. No prior-release price history is included, so these levels are not a forecast of the prints.

Bottom Line

Bias stays neutral. The dollar is softer on the day versus the euro, sterling, the yen and the Canadian dollar, but AUD/USD is up only 0.03% with both trends down, and the daily trends on EUR/USD, GBP/USD and USD/JPY are mixed. At the November 3 close, the three-month yield was 4.21%, the two-year yield was 4.61%, up 2 basis points, and the ten-year yield was 4.95%, up 4 basis points, with the two-year/ten-year spread at 34 basis points versus November 2. Those yields are context for this Asia session, not a demonstrated cause of the moves. The nearer conditional levels remain the EUR/USD day high at 1.12231 against R1 at 1.12062, the GBP/USD day high at 1.34442 against R1 at 1.34312, and on USD/JPY the daily pivot at 158.381 against S1 at 158.017.