Last week brought mixed sentiment across global markets. The euro gave up some ground to the dollar amid the ECB’s cautious tone. Bitcoin retreated slightly from its all-time highs, though the broader uptrend remains intact. Gold held near key support levels, while Brent crude traded under pressure due to rising supply and modest demand expectations. In the coming week, investors’ attention will be focused on US macroeconomic data, potential signals from central banks, and any new geopolitical or energy-related developments that could influence market sentiment.
💶 EUR/USD
The EUR/USD pair ended the week lower at 1.1625 (compared to 1.1690 seven days earlier), while maintaining a medium-term upward trend. In the short term, a fresh upward push is possible, with resistance expected around the 1.1835 level. However, a rebound from that area could increase pressure on the euro and send the pair back toward 1.1500. A confident breakout above 1.2060 would pave the way for further growth towards 1.2345. Conversely, a break below the 1.1505 support would confirm a reversal and a strengthening of bearish momentum, with a target near 1.1145.
₿ BTC/USD
Bitcoin remains in a strong uptrend and finished the week almost unchanged from the previous one, trading around $117,460. Despite short-term consolidation, the market structure remains bullish. A decline toward the $111,600 support zone is possible early in the week. If this level holds, a rebound and continuation of growth toward $145,000 can be expected. A drop below $102,400 would increase the risk of a deeper correction, potentially pushing the price down to $90,500. A close above $125,600 would confirm the resumption of upward momentum.
🛢️ Brent
Brent crude ended the week near $68.57 per barrel. Supply-side pressure remains elevated, while demand prospects remain subdued, reinforcing the bearish market outlook. In the week ahead, a test of resistance around $74.65 is possible, followed by a likely reversal toward the $60.05 level. A breakout above $82.45 would invalidate the bearish scenario and point to potential gains above $87.95. A close below $65.35 would confirm weakness and signal a continued decline.
🪙 Xau/USD
As forecast, gold remained in a consolidation phase, ending the week at $3,350 per ounce (compared to $3,355 the week before). A short-term pullback toward support around $3,325 is possible, followed by a rebound. A breakout above $3,510 would signal the completion of the current triangle pattern and open the path to new highs, with an initial target at $3,865. If support at $3,105 is broken, the bullish scenario would be cancelled, and a decline toward $2,925 could follow.
🧭 Conclusion
In the coming week, key events will include the release of leading economic indicators in the United States, the Reserve Bank of Australia’s meeting minutes, and a speech by Federal Reserve Chair Jerome Powell. On Wednesday, attention will turn to new home sales data from the US and statistics from Japan. On Thursday, markets will be focused on preliminary PMI figures from Germany, the eurozone, the UK, and the US, as well as the European Central Bank’s meeting and Christine Lagarde’s press conference, along with inflation data from Tokyo. Friday will bring US durable goods orders and UK retail sales figures. In addition, quarterly earnings reports from companies such as Tesla, Alphabet, Coca-Cola, and Verizon will be released throughout the week, along with another speech by Powell ahead of the upcoming FOMC meeting on July 29-30. These events are likely to be the main drivers of volatility across the currency, cryptocurrency, oil, and gold markets.