General Outlook
The past trading week saw notable movements across major financial instruments, driven by ongoing market sentiment and macroeconomic developments. The euro strengthened against the dollar but faces resistance levels that could dictate its next moves. Gold continued its bullish momentum, though a correction appears likely before further gains. Bitcoin remains within a bullish structure, yet profit-taking may lead to short-term pullbacks before another push higher. Looking ahead, investors should monitor key resistance and support levels, as well as fundamental drivers that could shift market dynamics.
EUR/USD
The EUR/USD pair concluded last week with strong upward momentum, closing near 1.0880, marking a recovery amid expectations of Federal Reserve monetary policy adjustments and Eurozone economic resilience. The latest CPI data from the U.S. showed signs of inflationary cooling, which fueled speculation of potential rate cuts by the Fed later in 2025. Meanwhile, the European Central Bank (ECB) remains cautious about reducing rates, providing support to the euro.
For the upcoming trading week, the 1.0900 level remains a key resistance, and a break above this area could open the door for a test of 1.1000. However, should the pair face rejection from resistance, a pullback toward 1.0750 is possible.
Technical indicators suggest a mixed outlook, with the RSI near neutral levels, while moving averages indicate bullish momentum. A move above 1.0900 would strengthen the case for further gains, while a drop below 1.0675 could confirm renewed bearish pressure and signal further declines towards 1.0500.
XAU/USD
Gold (XAU/USD) concluded the previous week with a slight correction, closing near 2996. Despite this pullback, the precious metal remains in an overall bullish trend. Moving averages suggest continued strength, though a short-term retracement towards 2905 is likely. A successful test of this support level could prompt renewed buying interest, sending prices higher towards the 3125 mark.
A bounce from the trend line on the RSI would further support the bullish outlook, along with a rebound from the lower boundary of the bullish channel. However, a break below 2775 would negate the upside scenario, suggesting a deeper correction towards 2695. Confirmation of continued upside momentum would come with a breakout above 3025, reinforcing the case for higher gold prices in the coming sessions.
BTC/USD
Bitcoin (BTC/USD) finished the trading week at 83,061, maintaining its position within a bullish channel despite some corrective pressure. The moving averages indicate an ongoing uptrend, but the recent retest of the signal line suggests sellers are active, potentially leading to a short-term decline. A pullback towards 80,505 appears likely before buyers reassert control and push the price towards 119,065.
A rebound from the lower boundary of the bullish channel would provide further confirmation of an upward continuation. Additionally, support on the RSI trend line suggests a potential bounce. A break below 70,505, however, would invalidate this bullish outlook, indicating a deeper move towards 65,405. On the upside, confirmation of continued growth would require a breakout above 97,205, marking a resumption of the bullish trend.
Conclusion
The upcoming trading week presents opportunities for both bullish and bearish moves across major assets. The euro faces resistance that could dictate whether its rally continues or reverses. Gold remains in a strong uptrend, but a short-term correction may provide a better entry for buyers. Bitcoin also shows bullish tendencies, though some corrective movements may occur before the next leg higher. Traders should keep an eye on key levels and market developments to capitalize on potential opportunities in the days ahead.
NordFX Analytical Group
Disclaimer: These materials are not an investment recommendation or a guide for working on financial markets and are for informational purposes only. Trading on financial markets is risky and can lead to a complete loss of deposited funds.
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