Global financial markets finished the second week of March with elevated volatility. Energy markets remained the primary driver of sentiment as geopolitical tensions in the Middle East pushed oil prices above $100 per barrel, increasing inflation risks and complicating expectations for monetary policy.
Investors are now preparing for an extremely dense macroeconomic calendar. The coming week will be dominated by the Federal Reserve meeting on March 17–18 and the European Central Bank meeting on March 18–19. These decisions may significantly influence expectations for interest-rate policy during Q2 2026. Markets will also closely monitor inflation indicators and economic data from both the United States and the Eurozone.
By the close of trading on Friday, March 13, the key instruments finished the week near the following levels: EUR/USD at 1.1416, Brent at $103.14, gold at $5,061.70, silver at $81.34, Bitcoin at $70,957, and Ethereum at $2,092.62. These levels serve as the starting point for the outlook for the week of March 16–20.
EUR/USD
The euro remained under pressure throughout the week and finished Friday at 1.1416, continuing the correction that began from the 1.18 area in late February. Demand for the US dollar increased as traders reduced risk exposure ahead of the upcoming central bank meetings.
During the week, the pair traded within a range between approximately 1.1400 and 1.1580, reflecting growing uncertainty in currency markets.
From a technical perspective, EUR/USD remains inside a short-term downward channel. The nearest resistance levels are located near 1.1465 and 1.1510. If buyers manage to reclaim this zone, the next potential targets may appear near 1.1575 and 1.1610.
On the downside, the first support is seen near 1.1410, followed by 1.1380. A break below these levels may open the way toward 1.1325.
Baseline view: bearish while EUR/USD remains below 1.1510, with the market likely to test the 1.1410–1.1380 support zone.
Brent Crude Oil
Brent oil was the most volatile instrument of the week. After closing the previous Friday near $92.69, prices surged and ended March 13 at $103.14, confirming the strength of the rally driven by geopolitical risk.
During the week, Brent traded within a wide range between roughly $94 and $104, reflecting strong buying pressure and heightened market sensitivity to political developments.
Technically, Brent continues to trade within a strong upward trend. The nearest resistance levels are located near $104.00 and $106.50. If bullish momentum continues, prices may attempt to reach the $110.00 area.
Support levels are located near $100.00 and $97.60. A deeper correction could extend toward $95.20 if traders begin to lock in profits after the recent surge.
Baseline view: bullish while Brent remains above $100, although volatility is expected to remain very high.
Gold (XAU/USD)
Gold demonstrated mixed dynamics during the week. The metal reached an intraday high near $5,132, but closed Friday lower at $5,061.70, suggesting that part of the safe-haven demand shifted toward the US dollar and energy markets.
During the week, gold traded within a range between approximately $4,990 and $5,132, reflecting strong demand for protective assets amid geopolitical uncertainty.
The nearest resistance levels are located near $5,085 and $5,132. If buyers return above this zone, the next upside target may appear near $5,200.
On the downside, support is located near $5,015 and the psychological level of $5,000. If these levels are broken, sellers may attempt to push prices toward $4,950.
Baseline view: moderately bullish while gold remains above $5,000, but the metal must regain $5,085–$5,132 to confirm stronger upward momentum.
Silver (XAG/USD)
Silver again showed wider price swings than gold. After closing the previous week near $84.31, the metal finished Friday at $81.34, reflecting the impact of shifting market sentiment and expectations for industrial demand.
During the week, silver traded in a broad range between roughly $79.50 and $85.60, demonstrating the metal’s sensitivity to changes in global risk appetite.
Resistance levels are located near $83.10 and $85.60. If buyers regain control above this zone, the next potential target may appear near $87.70.
Support is seen near $79.50 and $78.00. If these levels fail, the decline could extend toward $76.50.
Baseline view: neutral-to-bearish while silver remains below $83.10, with downside risks still dominant after the weak weekly close.
Bitcoin (BTC/USD)
Bitcoin spent most of the week attempting to stabilize after the correction seen earlier in March. The cryptocurrency reached an intraday high near $73,904, but finished Friday at $70,957, indicating that the market is still encountering resistance near the $74,000 area.
During the week, Bitcoin traded within a range between approximately $68,500 and $73,900, showing that the market remains in a consolidation phase.
The nearest resistance levels are located near $71,300 and $73,900. If the price breaks above this zone, the next potential target may appear near $75,500.
Support levels are located near $70,400 and $69,200. If sellers push the market below these levels, the next downside target may appear near $68,000.
Baseline view: cautiously bullish while Bitcoin remains above $70,400, but a sustained breakout above $73,900 is required to confirm stronger upward momentum.
Ethereum (ETH/USD)
Ethereum broadly followed Bitcoin but continued to show weaker momentum. The cryptocurrency traded between $2,071 and $2,206 during Friday’s session and closed the week at $2,092.62.
During the week, Ethereum moved within a range between approximately $1,980 and $2,206, reflecting a consolidation phase after the earlier decline below $2,000.
The nearest resistance levels are located near $2,105 and $2,205. If buyers regain control above this zone, the next potential target may appear near $2,280–$2,300.
Support levels are located near $2,070 and $2,020. If these levels are broken, the next downside target may appear near $1,990.
Baseline view: neutral-to-bullish while Ethereum remains above $2,070, but the market needs to break $2,205 to confirm stronger upward momentum.
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.
