The previous week ended with combined 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 stress. Within the coming week, from 14 to 18 July, market individuals await contemporary macroeconomic knowledge and central financial institution alerts, which can result in elevated volatility.
💶 EUR/USD
The EUR/USD pair ended the week round 1.1690, about 120 pips beneath the intraweek excessive of 1.1830. Technical indicators nonetheless recommend bullish momentum, however the euro is approaching a powerful resistance zone at 1.1755–1.1780. A assured breakout above 1.1855 may open the way in which to 1.2045 and additional to 1.2345. On the identical time, if the pair fails to carry its present ranges and falls beneath 1.1505, this could affirm strengthening bearish stress and will result in a decline beneath 1.1300. Within the quick time period, a take a look at of the higher boundary of the vary appears probably, however the danger 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 following upward transfer. A rebound from this help zone would reinforce the bullish situation and will result in development first to $124,500 after which to $150,000. Nevertheless, a drop beneath $97,500 would invalidate the present uptrend and will set off a decline right down to $85,000.
🛢 Brent Crude
Brent crude oil began the week at $67.87 and ended round $69.95 per barrel, regardless of stress 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 development towards $88. Till then, the bottom case stays bearish.
🥇 XAU/USD
Gold costs have been nearly unchanged over the previous seven days. The dear 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 alerts recommend a possible correction to $3,315 earlier than the following leg up. A rebound from this help may push XAU/USD in direction of the $3,384–$3,400 vary. A breakout above $3,505 would affirm the completion of the sample and open the way in which to increased ranges. Nevertheless, a drop beneath $3,135 would cancel the bullish situation and will result in a decline to $2,955.
🔚 Conclusion
The upcoming week is prone to carry new momentum to the markets, notably for EUR/USD and Brent crude, each of that are testing key resistance zones. Bitcoin stays sturdy however might bear a correction earlier than resuming its upward transfer. Gold, in the meantime, might keep in a consolidation section, awaiting new sturdy development drivers.