The previous week ended with blended efficiency throughout monetary markets. The US greenback barely strengthened towards the euro, whereas bitcoin gained towards the greenback and reached a brand new all-time excessive. Gold remained in a sideways pattern amid geopolitical uncertainty, and oil costs confirmed solely a modest improve regardless of persistent promoting strain. Within the coming week, from 14 to 18 July, market members await contemporary macroeconomic information and central financial institution indicators, which can result in elevated volatility.
💶 EUR/USD
The EUR/USD pair ended the week round 1.1690, about 120 pips under the intraweek excessive of 1.1830. Technical indicators nonetheless recommend bullish momentum, however the euro is approaching a robust resistance zone at 1.1755–1.1780. A assured breakout above 1.1855 might open the best way to 1.2045 and additional to 1.2345. On the similar time, if the pair fails to carry its present ranges and falls under 1.1505, this may verify strengthening bearish strain and will result in a decline under 1.1300. Within the quick time period, a check of the higher boundary of the vary appears doubtless, however the threat of a reversal from resistance stays.
₿ BTC/USD
Bitcoin closed the week at $117,635, having beforehand up to date its all-time excessive at $118,905. This implies a weekly acquire of round 10%. The pattern stays steadily bullish, though a correction to $110,500 might happen earlier than the subsequent upward transfer. A rebound from this assist zone would reinforce the bullish state of affairs and will result in progress first to $124,500 after which to $150,000. Nevertheless, a drop under $97,500 would invalidate the present uptrend and will set off a decline all the way down to $85,000.
🛢 Brent Crude
Brent crude oil began the week at $67.87 and ended round $69.95 per barrel, regardless of strain from rising output by main producers. Within the quick time period, a restoration to $74.35 is feasible. A reversal from this resistance zone might ship costs decrease once more, first to $65.65 after which to the important thing goal of $54.35. Solely a agency breakout above $82.45 would point out a possible pattern reversal with additional progress towards $88. Till then, the bottom case stays bearish.
🥇 XAU/USD
Gold costs have been nearly unchanged over the previous seven days. The valuable steel closed this week round $3,355 per ounce (in comparison with $3,335 every week earlier). The asset continues to commerce inside a medium-term ascending triangle, and short-term technical indicators recommend a possible correction to $3,315 earlier than the subsequent leg up. A rebound from this assist might push XAU/USD in direction of the $3,384–$3,400 vary. A breakout above $3,505 would verify the completion of the sample and open the best way to increased ranges. Nevertheless, a drop under $3,135 would cancel the bullish state of affairs and will result in a decline to $2,955.
🔚 Conclusion
The upcoming week is prone to convey new momentum to the markets, significantly for EUR/USD and Brent crude, each of that are testing key resistance zones. Bitcoin stays sturdy however might endure a correction earlier than resuming its upward transfer. Gold, in the meantime, might keep in a consolidation section, awaiting new sturdy progress drivers.
