General Outlook
Last week saw moderate gains for the euro, gold and bitcoin, all supported by cautious risk sentiment and renewed positioning ahead of key central bank signals. The euro finished Friday near 1.1524 against the dollar, slightly higher than a week earlier. Gold settled around 3,368 dollars per troy ounce after finding demand at recent lows, while bitcoin eased back to close near 103,400 dollars following an attempt to break through the 106,500 level. With trading paused over the weekend, markets look set to open next week consolidating within well‑defined technical ranges as traders await fresh drivers.
EUR/USD
EUR/USD continues to trade within a corrective upward channel. After closing around 1.1524, the pair retains bullish short‑term momentum, supported by moving averages pointing upward. In the coming days, a push toward resistance near 1.1665 remains likely. However, should this level hold firm, a pullback toward support around 1.1345 may follow as profit‑taking emerges. A sustained break above 1.1725 would invalidate any bearish retracement and open the way for further gains towards 1.1905. If the pair instead drops below 1.1345, this would confirm a breakdown of the channel and shift the focus back to the downside.
XAU/USD
Gold continues to move within the framework of a correction and the formation of a triangle pattern. The metal closed the week near 3,368 dollars per troy ounce and remains supported by cautious investor sentiment. In the new week, an initial test of the support area around 3,305 is expected. A rebound from this level could see gold resume its upward trajectory, potentially targeting 3,745 if buying interest picks up strongly. A close below 3,215 would cancel the bullish scenario and could lead to a deeper decline toward 3,165. A decisive move above 3,505 would confirm a breakout from the triangle and signal further upside.
BTC/USD
Bitcoin ended the week just above 103,400 dollars, having retreated from resistance near 106,500. The short‑term trend remains constructive within a broader bullish channel. In the week ahead, an early test of support around 99,400 is possible. Should this zone hold, the digital currency may bounce back towards the 134,500 area as buyers return. A drop below 89,500 would negate this scenario and signal a deeper correction towards 82,665. A daily close above 113,665 would confirm renewed strength and support the case for another strong leg higher.
Conclusion
As the new trading week approaches, all three instruments—EUR/USD, gold and bitcoin—are expected to consolidate recent gains while remaining technically biased to resume their prevailing upward trends. Critical levels such as 1.1665 and 1.1345 for EUR/USD, 3,305 and 3,505 for gold, and 99,400 and 113,665 for bitcoin will be pivotal in determining whether corrections deepen or the next bullish wave develops.
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.
