Last week closed with notable fluctuations across most major markets. The euro strengthened against the dollar, while gold and bitcoin continued their upward movement despite signs of a potential correction. Brent remains under pressure, though there are attempts to rebound from local lows. In the coming week, market participants will be closely watching macroeconomic data releases in the US and Europe, as well as the ongoing dynamics in commodity and crypto markets.
💶 EUR/USD
The EUR/USD pair ended the trading week with strong growth around 1.1388. Despite the prevailing bearish trend, technical indicators suggest that the bulls are attempting to regain control. Prices broke above the area between the signal lines of the moving averages, indicating increased buying pressure. In the coming week, a downward correction is likely, with a test of the support area near 1.1185, followed by a possible rebound and continued growth toward the area above 1.1935.
An additional signal in favour of growth is a test of the support line on the Relative Strength Index (RSI), along with a rebound from the upper boundary of the previously broken descending channel. A fall and breakout below 1.0995 would invalidate the bullish scenario and point to a decline towards 1.0635. A confident breakout and close above 1.1485 would confirm the resumption of upward movement.
₿ BTC/USD
Bitcoin (BTC/USD) ended the week at 84,255, continuing to move within a corrective phase inside an ascending channel. The moving averages indicate an overall upward trend. Currently, the price is once again testing the area between the signal lines, suggesting potential for continued growth.
This week, a short-term correction is likely with a test of support near 82,605. From there, a rebound and further growth are expected, with a target above 108,305. Additional bullish signals include a rebound from the lower boundary of the channel and confirmation from the RSI. A drop and breakout below 72,305 would cancel the bullish scenario and lead to a decline toward 64,505. A breakout above 98,505 would confirm the continuation of the bullish trend.
🛢️ Brent Crude Oil
Brent crude closed the trading week near $66.88 per barrel, remaining under bearish pressure. Prices broke below the signal zone of the moving averages, indicating strong seller dominance. However, technically, a local rebound looks possible.
In the week of April 21–25, a decline towards the support area near $59.15 is expected, followed by a potential bounce and recovery towards $79.95. A rebound from the lower boundary of the descending channel and signals from the RSI will support this scenario. A break below $55.05 would invalidate the bullish outlook and signal further decline toward $44.65. Only a confident breakout above $71.65 would confirm a reversal to the upside.
🥇 Gold (XAU/USD)
Gold ended last week with a sharp rally, closing near $3,327 per ounce. The asset continues to move within a strong bullish channel, confirmed by the position of the moving averages. A technical correction is expected, with a possible test of the $3,205 support level, followed by a rebound and continued growth toward $3,675.
Bullish signals include a rebound from the trendline on the RSI and support from the lower boundary of the channel. A fall below $3,165 would cancel the growth scenario and could lead to a decline towards $2,785. A breakout above $3,385 would confirm further upward movement.
📊 Conclusion
In the coming week, markets are likely to remain in a corrective phase, although most instruments still show potential for continued growth. The euro and bitcoin are showing signs of recovery, gold remains firmly in its upward channel, while Brent is searching for a bottom. Investors and traders should watch key support levels that may serve as good entry points for long positions if rebound signals are confirmed.
