The week ends against the backdrop of the Fed’s policy meeting, pressure on commodities, and new record highs in gold. The euro continues to trade above 1.1700, Bitcoin is consolidating around 116,000, Brent crude is struggling to stay above $66 per barrel, while gold reached fresh all-time highs, peaking at $3,707 per ounce.
💶 EUR/USD
At its September 16–17 meeting, the Federal Reserve lowered the rate by 25 basis points to the 4.00–4.25% range and signalled that further easing would depend on inflation dynamics and the state of the labour market. As expected, the pair received a burst of volatility from the US regulator and jumped to 1.1918. However, the situation quickly stabilised, and the euro ended the week at 1.1744. Buyers held support near 1.1700, which suggests the uptrend remains in place and a new test of the 1.1800–1.1875 zone with a target of 1.2000 is possible. At the same time, the three-month chart shows that in case of a breakout, the 1.1680–1.1700 area can easily turn from support into strong resistance. A loss of 1.1670 could send the pair back to 1.1550.
₿ BTC/USD
The leading cryptocurrency virtually ignored the Fed meeting and spent the week moving sideways. After fluctuating in the 114,410–118,000 range, Bitcoin closed Friday near 115,410, and on Saturday returned to its pivot point at 116,000. The next bullish targets are 117,500, 118,000, 123,250, followed by the all-time high of 124,560. Immediate support is located in the 113,500–114,000 area, followed by 112,000 with a target of 110,000.
🛢 Brent
Brent crude prices remain under pressure, ending the week at $66.08 per barrel. Buyers continue in vain to push prices back above 68.50–70.00. Without stronger bullish signals, pressure is likely to persist, with key support around 64.80–65.00. A break lower would open the way to 62.50–63.00. A sustained move above 70.00 would confirm stronger bullish momentum, but for now this seems more a dream than a realistic weekly forecast.
🥇 XAU/USD
Gold set another all-time record at $3,707 per ounce, fuelled by Fed easing and robust safe-haven demand. A correction followed, bringing the precious metal down to close at 3,685. Growth targets are 3,750–3,800 and, of course, the psychologically important $4,000 level. However, in the event of higher US Treasury yields and dollar strength, a correction toward 3,580–3,600 or even 3,500–3,525 cannot be ruled out.
🔎 Conclusion
The new trading week opens with gold at record levels, Brent crude under pressure, Bitcoin in consolidation mode, and the euro cautiously supported. On Monday, September 22, markets will focus on eurozone consumer confidence and US durable goods orders. On Tuesday, the key release will be US housing market data. Wednesday will bring Germany and eurozone PMI indices, reflecting business activity in manufacturing and services, along with Fed Chair Jerome Powell’s speech. On Thursday, the US will publish its final Q2 GDP figures and weekly jobless claims, while the ECB releases its Economic Bulletin and the Swiss National Bank announces its rate decision. On Friday, September 26, the key event will be the release of the Core PCE index – the Fed’s preferred measure of inflation.
