General Outlook
The first week of April ended with mixed performance across the financial markets. The euro showed some weakness against the US dollar, gold surged to new highs, while bitcoin remained under pressure despite holding within a longer-term bullish channel. Looking ahead to the week of April 7–11, 2025, traders and investors should prepare for potential reversals and continued volatility across major assets. Technical indicators suggest that corrective moves may still play out before broader trends either resume or break decisively.
EUR/USD
The EUR/USD pair finished the previous week with a decline, closing near 1.1064. While moving averages continue to suggest a bearish trend, the recent upward break between the signal lines points to persistent buying interest and a possible short-term recovery. In the coming week, the pair may attempt to test resistance near 1.1165. However, this level could serve as a turning point, prompting a downward rebound and renewed decline, potentially pushing the pair below the 1.0645 mark.
A rejection from the resistance line on the RSI and the upper boundary of the bearish channel would further support the bearish scenario. A decisive break above 1.1225 would invalidate the bearish outlook, indicating that the euro could continue to strengthen towards 1.1505. On the other hand, if the pair closes below 1.0785, it would confirm a bearish breakout and suggest a broader decline.
XAU/USD (Gold)
Gold ended the week with a sharp rise, settling near 3101. The XAU/USD pair remains within a bullish channel and continues to trend upward, with prices having recently broken through the signal line range. This upward pressure from buyers points to the likelihood of continued growth. In the coming days, however, a brief correction may take gold back towards the support zone around 3005. A rebound from this level could then drive prices above 3255.
Further support for a continued rise would come from a bounce off the RSI trend line and the lower boundary of the bullish channel. A break below 2945 would cancel the bullish outlook and indicate the potential for a deeper decline, possibly extending towards 2825. A close above 3135 would signal bullish confirmation and likely extend the rally further.
BTC/USD (Bitcoin)
Bitcoin closed the week at 83,017, remaining within a bearish correction but still trading inside a broader bullish channel. While the moving averages reflect an overall uptrend, the repeated testing of the signal zone suggests selling pressure remains. The upcoming week could see bitcoin decline towards the support zone around 80,205, before rebounding and aiming for the 105,405 level once more.
A bounce off both the lower boundary of the bullish channel and the RSI support line would reinforce the likelihood of further growth. However, a drop below 72,005 would cancel the bullish scenario, signalling a break of the support zone and opening the way for a fall towards 64,505. On the upside, a breakout above 96,605 would confirm renewed bullish momentum and a likely continuation of the upward trend.
Conclusion
The trading week of April 7–11, 2025 is likely to be shaped by attempts at correction across all three instruments. The euro may test higher ground before resuming its decline, gold remains strong but could face temporary weakness, and bitcoin is expected to move sideways with a bullish bias—unless it breaks key support. As always, traders should watch technical levels closely for confirmation and be prepared for reversals if key breakout zones are breached.
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.
