The week ended with markets awaiting the key Federal Reserve meeting on September 16–17. The euro held around 1.1730, Bitcoin resumed its growth, the average Brent crude price remained at $66.50 per barrel, while gold once again renewed its all-time high.
💶 EUR/USD
The euro closed the week at 1.1734. Buyers are vigorously defending the 1.1700 support zone, so bearish pressure has only had short-lived success. Since August 27, the pair has been moving within an upward channel, and if it manages to consolidate above 1.1750, this will open the way toward 1.1800. However, failure to break higher could trigger a pullback to the 1.1680-1.1700 area and then another 100 points lower. It should be noted that both trend directions and volatility will largely depend not only on the Fed’s decisions on September 16-17 but also on the statements made by its officials during the subsequent press conference. Price fluctuations at those times may go well beyond the above-mentioned ranges, so it may be wise for traders to wait until market turbulence subsides somewhat.
₿ BTC/USD
Bitcoin ended the week at 116,245, rising from weekly lows near 110,600. The bulls’ next targets are 117,500 and 123,250, followed by a retest of the all-time high of 124,560 set on August 14. If the trend reverses, the nearest support lies at 113,500-114,000, then at 112,000, with 110,000 as the key downside target.
🛢 Brent
Brent crude has long been moving around its Pivot Point at 66.50, and this time it closed trading almost at the same level – $66.59 per barrel. Since mid-August, the bears have failed to break the support at 64.80–65.00. A move below this zone would open the way toward 62.50–63.00. Another rebound toward 68.00–70.00 cannot be ruled out, but pressure from potential OPEC+ oversupply is likely to persist. Therefore, further growth at this stage looks unlikely.
🥇 XAU/USD
Gold finished Friday at $3,643 per ounce, close to the latest all-time high of $3,674 reached on September 9. The uptrend remains intact, with near-term targets at 3,675-3,700. However, corrective pullbacks to 3,600-3,580 or deeper to 3,525-3,500 are also highly possible. The Fed’s policy this week will be the decisive factor for further dynamics.
🔎 Conclusion
The main event of the week of September 15–19 will be the Federal Reserve’s meeting on September 16-17, including its rate decision and Jerome Powell’s press conference (volatility is guaranteed). Additional focus will fall on Germany’s ZEW sentiment index and US retail sales due on September 16. On September 17, markets await UK inflation data as well as industrial production and retail sales figures from China. September 18 will see the Bank of England’s policy meeting with its decision on the pound’s interest rate, while the US will release jobless claims and the Philadelphia Fed index. The week will conclude on September 19 with Japan’s inflation data, final eurozone inflation readings, and the University of Michigan consumer sentiment index in the US.
