The trading week of May 5–9 closes with gains across key asset classes, both in the currency and cryptocurrency markets. Investors reacted positively to U.S. inflation data and comments from Federal Reserve officials, maintaining interest in risk assets. Against this backdrop, Bitcoin demonstrated a confident rise, while gold and Brent oil held their ground. In the upcoming week, traders will focus on U.S. retail sales data, Chinese industrial output, and the latest developments in U.S.–China trade negotiations.
💶 EUR/USD
The EUR/USD pair ends the week near the 1.1248 mark, remaining within a uptrend. The coming week is likely to bring further growth, with a test of the resistance zone around 1.1375, from where a downward rebound and corrective movement may begin. The potential target for this decline lies below 1.0705.
Additional confirmation of a downward move includes a test of the resistance line on the RSI and price action near 1.1375. A break above 1.1705 would cancel the bearish scenario, indicating a breakout from the resistance zone and opening the path toward 1.1985. A break below 1.1045 would confirm the reversal, signalling a breach of the lower boundary of the bullish channel.
🪙 BTC/USD
Bitcoin ends the week at $103,000, holding within a bullish channel. Buyers continue to dominate, although a short-term correction to the support zone at $94,505 may occur. From there, another upward impulse is expected, with a potential target above $131,065.
Additional confirmation of a bullish scenario comes from a rebound off the RSI support line and the upper boundary of the descending channel. A break below $82,205 would invalidate this outlook, pointing to further decline toward $74,505. A close above $108,605 would confirm the continuation of the uptrend.
🛢️ Brent
Brent crude prices close the week near $63.70 per barrel, under pressure within a downward trend. A breakdown below the moving average zone reinforces the bearish outlook. In the coming days, a decline toward support at $59.45 is likely, followed by a potential rebound and recovery toward $71.05.
Additional signs of recovery include a test of the RSI support line and the lower boundary of a "Double Bottom" reversal pattern. A fall and break below $55.45 would invalidate the bullish scenario and open the way to $50.05. A confirmed rebound would be indicated by a breakout above $69.55 and a daily close beyond that level.
🥇 XAU/USD
Gold ends the week at $3,326 per ounce, slightly correcting after a strong rally. XAU/USD remains in a bullish channel, with moving averages confirming upward momentum. A short-term pullback toward support at $3,195 is likely, followed by a rebound and continued rise toward $3,785.
Support for this scenario includes a bounce from the trend line on the RSI and the lower boundary of the bullish channel. A break below $3,115 would invalidate the uptrend and open the way toward $2,845. A close above $3,385 would confirm the bullish continuation.
📌 Conclusion
Investor sentiment remains moderately optimistic. The bitcoin show further growth potential, gold retains its appeal as a safe haven, while oil still needs stronger confirmation of a reversal. The week of May 12–16 may serve as a turning point for several instruments, especially if new macroeconomic data from the U.S. and China surprises the markets.
