🌍 General Outlook for the Week
The first week of April was eventful, with markets reacting to fresh macroeconomic data, import duties announced by US President Donald Trump, and expectations surrounding the monetary policies of the Fed and the ECB. Volatility increased across currency, commodity, and cryptocurrency markets. In the upcoming week from April 7 to 11, investors’ attention will be focused on new inflation data from the US, central bank meetings, and geopolitical developments. Trading is expected to continue within existing technical structures, although sudden movements may occur in response to news.
💶 EUR/USD
The EUR/USD pair ended last week with a decline near 1.0964. Moving averages point to a prevailing bearish trend. However, prices have broken above the zone between the signal lines, indicating pressure from buyers and a possible attempt at a corrective upward move. At the beginning of the new week, a rise in the pair and a test of resistance near 1.1165 can be expected. From that area, a downward rebound and continued decline towards the 1.0645 level is likely. An additional signal in favour of a decline will be a test of the resistance line on the RSI indicator, as well as a bounce from the upper boundary of the descending channel. The bearish scenario would be cancelled in case of a breakout above 1.1225, which would signal a further rise towards 1.1505. A confirmation of the bearish trend would be a breakout below 1.0785, indicating a breach of the lower boundary of the bullish channel.
🟠 BTC/USD (Bitcoin)
Bitcoin (BTC/USD) finished the week at 84140, continuing to move within a bearish correction inside a broader upward channel. Moving averages still point to a bullish trend, but prices are again testing the zone between the signal lines, indicating selling pressure. At the start of the week, we may see a move down to test support near 80,205, followed by a potential rebound and further growth toward 105,405. Signals supporting continued upward movement include a bounce from the lower boundary of the ascending channel and the RSI support line. The bullish scenario would be cancelled if the price breaks below 72,005, which may lead to a drop to 64,505. A confirmed breakout above 96,605 and a close above that level would support the bullish outlook.
🛢️ Brent (Oil)
Brent crude ended last week around $65.68 per barrel. Moving averages indicate a bearish trend, with prices breaking downward through the signal lines, suggesting pressure from sellers and a potential continuation of the decline. At the start of the week, a test of the support level near $64.05 is likely, followed by a rebound and a move toward the $75.05 zone. Additional signals in favour of growth include a bounce from the RSI support line and the lower boundary of a “Wedge” reversal pattern. The bullish scenario will be cancelled if the price breaks below $62.05, potentially pushing prices down to the $54.35 area. A breakout above $73.05 and a close above it would confirm the return of a bullish trend.
🪙 XAU/USD (Gold)
Gold (XAU/USD) ended the week with strong gains near the $3,038 mark. Prices remain within an ascending channel, and moving averages continue to support a bullish trend. After breaking above the area between the signal lines, buyers appear to be in control. A corrective move down to test support at $3,000 is likely at the start of the week, followed by a possible rebound and further growth toward $3,255. Signals in favour of continued growth include a bounce from the trend line on the RSI and the lower boundary of the bullish channel. A drop below $2,945 would cancel the bullish scenario and could lead to further decline towards $2,825. A breakout above $3,135 would confirm the bullish momentum.
📊 Conclusion
The current market environment remains mixed. Traders should exercise caution in the coming days, as technical signals suggest the potential for reversals, and fundamental factors may trigger sharp moves in either direction across major instruments.
