The past week ended with mixed performance across financial markets. The US dollar slightly strengthened against the euro, while bitcoin gained against the dollar and reached a new all-time high. Gold remained in a sideways trend amid geopolitical uncertainty, and oil prices showed only a modest increase despite persistent selling pressure. In the coming week, from 14 to 18 July, market participants await fresh macroeconomic data and central bank signals, which may lead to increased volatility.
💶 EUR/USD
The EUR/USD pair ended the week around 1.1690, about 120 pips below the intraweek high of 1.1830. Technical indicators still suggest bullish momentum, but the euro is approaching a strong resistance zone at 1.1755–1.1780. A confident breakout above 1.1855 could open the way to 1.2045 and further to 1.2345. At the same time, if the pair fails to hold its current levels and falls below 1.1505, this would confirm strengthening bearish pressure and could lead to a decline below 1.1300. In the short term, a test of the upper boundary of the range seems likely, but the risk of a reversal from resistance remains.
₿ BTC/USD
Bitcoin closed the week at $117,635, having previously updated its all-time high at $118,905. This means a weekly gain of around 10%. The trend remains steadily bullish, although a correction to $110,500 may occur before the next upward move. A rebound from this support zone would reinforce the bullish scenario and could lead to growth first to $124,500 and then to $150,000. However, a drop below $97,500 would invalidate the current uptrend and could trigger a decline down to $85,000.
🛢 Brent Crude
Brent crude oil started the week at $67.87 and ended around $69.95 per barrel, despite pressure from increasing output by major producers. In the short term, a recovery to $74.35 is possible. A reversal from this resistance zone may send prices lower again, first to $65.65 and then to the key target of $54.35. Only a firm breakout above $82.45 would indicate a potential trend reversal with further growth toward $88. Until then, the base case remains bearish.
🥇 XAU/USD
Gold prices were virtually unchanged over the past seven days. The precious metal closed this week around $3,355 per ounce (compared to $3,335 a week earlier). The asset continues to trade within a medium-term ascending triangle, and short-term technical signals suggest a potential correction to $3,315 before the next leg up. A rebound from this support could push XAU/USD towards the $3,384–$3,400 range. A breakout above $3,505 would confirm the completion of the pattern and open the way to higher levels. However, a drop below $3,135 would cancel the bullish scenario and could lead to a decline to $2,955.
🔚 Conclusion
The upcoming week is likely to bring new momentum to the markets, particularly for EUR/USD and Brent crude, both of which are testing key resistance zones. Bitcoin remains strong but may undergo a correction before resuming its upward move. Gold, meanwhile, may stay in a consolidation phase, awaiting new strong growth drivers.
