The previous week introduced few surprises. As anticipated, gold set a brand new report, Brent oil remained underneath strain, bitcoin failed to interrupt out of its corrective vary, and the euro continued sideways buying and selling whereas awaiting catalysts that might drive motion in both path.
💶 EUR/USD
The pair ended the week close to 1.1650, which could be thought-about the pivot level of the 1.1550-1.1750 vary and the broader 1.1400-1.1900 hall. These boundaries stay the important thing targets for bulls and bears alike. A gentle transfer greater would open the best way to 1.1710–1.1750, adopted by 1.1810 and 1.1900. A return beneath 1.1600 would once more level towards 1.1525–1.1550, with a assured break decrease exposing 1.1400. Upcoming worth motion will decide whether or not the bullish construction holds or a deeper downward correction is due.
₿ BTC/USD
Bitcoin fluctuated sharply following President Trump’s assertion about potential new tariffs on Chinese language imports. Because of this, it surged towards 116,000 earlier than dropping again to the October 11 low close to 103,500 amid a wave of lengthy place liquidations. By Saturday, October 18, the main cryptocurrency was buying and selling round 107,000. Regardless of the present pullback, the long-term uptrend stays intact, though short-term strikes keep delicate to investor sentiment and alerts from the U.S. The closest sturdy help lies round 103,500, whereas a agency break beneath 98,000–100,000 may set off a drop to 90,000-92,000. Quick resistance ranges are seen at 112,000, 116,000, and 120,000.
🛢 Brent
Two weeks in the past, we famous that if bears managed to maintain oil costs beneath the important thing 64.80–65.00 help, it might flip into resistance — which is precisely what occurred. All bullish makes an attempt to check this space failed, with bears efficiently defending it. Brent fell to as little as 59.99 and ended the week at 61.17 USD per barrel. The technical outlook stays bearish, and a transfer beneath 60.00 may prolong losses to 58.00 and even 53.50. Nevertheless, any softening of U.S. tariff rhetoric or indicators of enhancing demand may reverse the development and push costs again above the 64.80–65.00 zone.
🥇 XAU/USD
Gold up to date its all-time excessive final week, peaking at 4,380 USD per ounce earlier than retreating to the decrease finish of the vary and shutting round 4,250. The uptrend stays legitimate whereas the worth holds above 4,000-4,080. Quick resistance is seen at 4,330-4,380. If macroeconomic elements and central-bank demand for safe-haven belongings proceed to help the bullish image, the psychologically necessary 5,000 USD stage may very well be reached inside the coming months. Then again, overbought situations counsel a doable consolidation or decline beneath 4,200 towards 3,765-3,900.
📌 Conclusion
The brand new week opens with gold consolidating after report highs, Brent trying to kind an area backside, bitcoin making an attempt to stabilise above the 110,000 space, and the euro defending the mid-range of 1.1550-1.1750. Merchants ought to be ready for news-driven volatility and monitor key technical ranges carefully.
In the course of the week of October 20-24, market focus can be on knowledge shedding gentle on inflation developments and enterprise exercise in main economies. On Monday, the U.S. main indicators and the eurozone present account report can be launched. Tuesday will deliver industrial worth knowledge and the Enterprise Outlook Survey in Canada. Wednesday’s spotlight would be the UK Shopper Worth Index (CPI), which may affect expectations for Financial institution of England coverage. On Thursday, traders will flip their consideration to U.S. jobless claims, whereas the week will conclude on Friday with U.S. new dwelling gross sales and the College of Michigan Shopper Sentiment Index.
