🌍 General Outlook
The past week saw heightened volatility across financial markets, influenced by geopolitical tensions and shifting economic indicators. Gold prices surged amid renewed trade threats, while oil prices remained under pressure due to concerns over increased OPEC+ output. The euro strengthened against the dollar, and bitcoin experienced a modest pullback after reaching new peaks.
💶 EUR/USD
The euro closed the week at 1.1362, marking a 0.77% increase from the previous session. This upward movement suggests a potential test of the resistance area near 1.1465 in the coming days. However, a failure to sustain above this level could lead to a downward correction, with support seen around 1.1125. A decisive break below this support may indicate a continuation of the bearish trend.
🪙 BTC/USD
Bitcoin concluded the week at $108,170, reflecting a 3.89% decline from its all-time high of $111,916 reached on 22 May. The cryptocurrency remains within a bullish channel, but the recent pullback suggests a potential test of support near $103,405. A rebound from this level could see prices targeting the $136,505 region. Conversely, a drop below $94,605 would invalidate the bullish outlook, potentially leading to further declines toward $86,505.
🛢️ Brent Crude
Brent crude oil settled at $64.39 per barrel on 23 May. Despite this uptick, prices remain under pressure due to potential increases in OPEC+ output and ongoing trade uncertainties. A short-term bullish correction may test resistance near $64.85, but a failure to break higher could result in a continuation of the downtrend, with support around $56.45.
🏆 XAU/USD (Gold)
Gold prices soared to a record high, closing at $3,356 per ounce on 23 May. This surge was driven by increased demand for safe-haven assets amid escalating trade tensions. The precious metal remains in a strong uptrend, with potential resistance near $3,375. A pullback could see prices testing support around $3,215. A break below this level might signal a deeper correction toward $3,045.
🔚 Conclusion
The upcoming week is poised to be influenced by geopolitical developments and economic data releases. Investors should remain vigilant, as markets may experience increased volatility. Key levels to watch include 1.1465 and 1.1125 for EUR/USD, $103,405 and $94,605 for BTC/USD, $64.75 and $56.45 for Brent crude, and $3,375 and $3,215 for gold. Monitoring these levels can provide insights into potential market directions.
