The previous week ended with blended efficiency throughout monetary markets. The US greenback barely strengthened in opposition to the euro, whereas bitcoin gained in opposition to 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 members await recent macroeconomic knowledge 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 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 best way 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 is able to verify strengthening bearish stress and will result in a decline beneath 1.1300. Within the brief time period, a take a look at of the higher boundary of the vary appears doubtless, 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 assist zone would reinforce the bullish state of affairs and will result in development first to $124,500 after which to $150,000. Nonetheless, 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 brief 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 had been nearly unchanged over the previous seven days. The valuable metallic closed this week round $3,355 per ounce (in comparison with $3,335 per 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 following leg up. A rebound from this assist may push XAU/USD in the 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. Nonetheless, a drop beneath $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 deliver new momentum to the markets, notably for EUR/USD and Brent crude, each of that are testing key resistance zones. Bitcoin stays robust however might bear a correction earlier than resuming its upward transfer. Gold, in the meantime, might keep in a consolidation part, awaiting new robust development drivers.
