Last week, markets traded in a mixed fashion amid persistent geopolitical risks and shifting macro expectations. The dollar kept its resilience, oil prices firmed up thanks to tension-related premiums, bitcoin saw volatile swings but remained in an uptrend, and gold stayed near record levels. In the coming week, traders will be watching for fresh US macroeconomic data, any news from the Middle East, and signs of trend exhaustion or continuation in major assets.
💶 EUR/USD
The euro closed Friday at about 1.1521, staying within its corrective bullish channel. While the short-term trend remains mildly positive, resistance near 1.1665 could cap further gains. If the pair fails to break higher, it may roll back towards 1.1345, with a deeper target around 1.0845 if selling accelerates. A decisive close above 1.1725 would invalidate the downside scenario and open the way for a move towards 1.1905. Traders should watch the RSI zone for early hints of a reversal.
₿ BTC/USD
Bitcoin is trading around 103,800, having pulled back after its recent rise above 105,000. The market structure remains bullish for now, with the key support area located around 99,400. A rebound from this level could bring buyers back into play and push the price towards 113,600 and, in the longer term, to 134,500. However, if the price consolidates below 89,500, it will strengthen selling pressure and pave the way for a decline towards the 82,600 area. To gauge sentiment, it is worth monitoring the RSI behaviour at the channel boundaries.
🛢️ Brent Oil
Brent crude ended the week at around $75.77 per barrel, supported by supply concerns. Despite this, a short-term pullback cannot be ruled out. A decline towards 70.05 would be a healthy correction within the bullish channel. Should prices bounce from this level, fresh gains towards 80.65 and even 89.75 remain likely. If sellers force a break below 66.75, the outlook would turn negative and could drag prices down towards 60.25.
🥇 Gold (XAU/USD)
Gold held steady near $3,368 per troy ounce by Friday’s close. It continues to trade inside a large triangle pattern while maintaining a bullish bias. A dip towards the 3,305 support area may appear early in the week. A strong rebound from there could fuel fresh rallies towards 3,505 and 3,745. A drop below 3,215 would threaten the uptrend, exposing gold to a correction down to 3,165. Price action near the triangle boundaries should clarify whether bulls or bears are gaining the upper hand.
Conclusion
The week ahead promises to be a balancing act between profit-taking and trend continuation. Currencies, crypto, commodities and gold are all approaching pivotal levels that could decide whether this summer’s trends stretch further or pause for breath. Traders should stay alert for sharp swings driven by data surprises or geopolitical headlines.
