The previous week unfolded in a consolidation mode for the US greenback, gold, and various different key property. Forward of the discharge of great macroeconomic knowledge, market contributors maintained a wait-and-see stance, which stored main forex pairs and commodity devices inside comparatively slender ranges. Nevertheless, over the weekend the geopolitical scenario escalated sharply: america and Israel carried out strikes on Iranian territory, adopted by a response from Tehran. Beneath these situations, the opening of markets on Monday could also be accompanied by massive gaps and a surge in volatility. The approaching days could also be marked by heightened turbulence in oil and different property delicate to the worldwide danger surroundings.
💶 EUR/USD
The EUR/USD pair completed the week at 1.1814, holding assist at 1.1765-1.1775 however failing to consolidate above 1.1925-1.1930. Thus, the reasonably bullish state of affairs stays legitimate so long as quotations keep above 1.1765. A breakout above 1.1925 would open the way in which in direction of 1.2000 and далее to 1.2080. If demand for the greenback strengthens amid rising geopolitical dangers, stress on the euro can’t be dominated out, with a possible check of 1.1700. Accordingly, the 1.1580-1.1620 and 1.1470-1.1500 zones stay related.
🟠 Bitcoin (BTC/USD)
The weekly buying and selling vary of bitcoin was 62,415-70,000. On Saturday, February 28, the value was buying and selling round 64,000. The failure to interrupt above 72,260 confirms continued investor warning. The baseline neutral-to-bearish state of affairs for BTC/USD stays legitimate whereas quotations keep beneath this degree. A breakout of this vary would open the way in which to 75,500-80,000, after which the following goal for bulls can be a return to the 85,000-90,000 hall. If international risk-off sentiment intensifies and the value falls beneath 62,415, the dangers of testing 59,785 will improve. Extra distant targets at 54,000 and 49,000 stay related within the medium time period. The geopolitical issue could set off short-term spikes in volatility, however a sustainable course can be decided by total investor danger sentiment.
🛢 Brent Oil
Oil stays the asset most delicate to the present tense scenario. At Friday’s excessive, Brent rose to 73.41 and completed at 72.91 {dollars} per barrel. Navy escalation within the Center East could set off a pointy improve in quotations already at the beginning of the week. If costs consolidate above 73.00, the following targets can be 76.30 and 77.75. If tensions persist, an increase in direction of the 79.0-80.60 zone can’t be excluded. Nevertheless, within the occasion of de-escalation and stabilisation, a return throughout the long-term descending channel is feasible. The closest helps are 70.30, 68.25 and 66.30, with medium-term helps at 65.00 and 62.70.
🥇 Gold (XAU/USD)
Gold consolidated above the 5,090-5,120 zone and completed the week at 5,279 {dollars} per ounce, sustaining a bullish construction. The targets at 5,180 and 5,450 stay related. Amid the escalation of the battle, makes an attempt to replace the historic excessive at 5,595 can’t be excluded. On the similar time, the danger of correction stays if the geopolitical scenario stabilises. The closest assist is 5,090-5,120, adopted by 4,950-5,000 and 4,840-4,875. A breakout beneath this space would open the way in which to 4,550-4,640.
📈 Key Occasions and Baseline Eventualities of the Week
On March 02, market consideration will deal with the publication of Buying Managers’ Indices (PMI) in america and EU international locations. On March 03, inflation knowledge (CPI) in Europe can be launched, and on Friday – the US labour market report, together with Nonfarm Payrolls (NFP), the unemployment charge, and wage development knowledge. Nevertheless, the geopolitical issue could change into the dominant driver of worth actions.
Baseline eventualities, in accordance with XFINE specialists, are as follows: EUR/USD – reasonably bullish whereas the value holds above 1.1765. BTC/USD – neutral-to-bearish whereas the value stays beneath 72,260-75,500. Brent – bullish if costs consolidate above 73.00. XAU/USD – bullish whereas costs maintain above 4,950-5,000.