Daily Market Analysis from NordFX

[Stan NordFX]

Forex and Cryptocurrency Forecast for February 10 - 14, 2025

The past week saw contrasting movements in key markets. The euro continued to lose ground against the US dollar, with bearish sentiment dominating the EUR/USD pair. Meanwhile, bitcoin remained strong despite minor pullbacks, holding its place in a bullish trend channel. Gold prices, too, extended their rise, reflecting continued market demand for safe-haven assets amid global uncertainties. As we look ahead to the upcoming week, market trends suggest potential shifts in key assets depending on support and resistance levels.

EUR/USD

The EUR/USD currency pair concluded last week near 1.0393, marking another decline as bearish momentum persisted. A reversal pattern, identified as the "Head and Shoulders," remains in play, indicating continued pressure on the euro. Moving averages confirm the bearish trend, and the pair broke below key signal lines, reinforcing expectations for further downside movement.
In the coming week, the pair may test the support level near 1.0290. If this level holds, a rebound is anticipated, potentially propelling the euro toward a target of 1.0735. Technical indicators, including a test of the support line on the relative strength index (RSI), point towards this recovery scenario. However, should the pair breach 0.9985, the bearish outlook would be reaffirmed, setting the stage for a decline towards the 0.9675 region.
Ultimately, the focus for EUR/USD traders remains on whether the pair can sustain its current support levels or whether further bearish action will drive it to new lows.

XAU/USD

Gold ended the week trading near 2870, maintaining its position within a strong bullish channel. Moving averages indicate that the upward momentum remains intact, with prices breaking higher across key signal areas. This suggests that market sentiment remains favourable for continued gold price growth in the near term.
Despite the bullish sentiment, a short-term correction could lead to a test of the 2755 support level. If prices find stability there, a rebound toward the 3165 target is likely. A key signal supporting this scenario is a potential bounce off the lower border of the bullish channel, complemented by RSI trends pointing to continued upward momentum. Conversely, if gold prices breach the 2635 level, a deeper correction toward 2555 could unfold.
Given its safe-haven status, gold’s trajectory this week will likely reflect both technical dynamics and broader risk sentiment in the markets.

BTC/USD

Bitcoin remains resilient, closing last week at 97,224. The asset has stayed within an established bullish channel, with moving averages suggesting a continuation of the uptrend. The break above key signal lines has underscored renewed buying interest, even though short-term corrections are still part of the market dynamic.
In the coming week, bitcoin may test support near 86,065. Should buyers regain control at this level, a subsequent rally could push prices beyond 127,605. Technical signals, including a rebound from both the lower channel boundary and the RSI support line, indicate that bitcoin remains on course for further growth. However, a failure to hold the 86,065 level might lead to a steeper decline, targeting the 75,205 mark.
Bitcoin’s price path will largely depend on whether bullish momentum can overcome any short-term corrective pressures, as traders monitor both fundamental and technical indicators.

The upcoming week presents key inflection points for EUR/USD, gold, and bitcoin. The euro faces potential further losses unless it can hold crucial support levels, while gold appears set for continued gains if its bullish channel remains intact. Bitcoin, on the other hand, retains its long-term upward trajectory but must first withstand near-term corrections. Traders will closely watch support and resistance levels across these markets to assess potential reversals and confirm trend continuation.

NordFX Analytical Group

Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

 

[Stan NordFX]

Forex and Cryptocurrency Forecast for March 03 - 07, 2025

The past week saw notable market fluctuations across major Forex and cryptocurrency pairs, with the euro weakening against the dollar, gold maintaining its bullish momentum, and bitcoin experiencing downward pressure despite an overall long-term uptrend. Moving into the first full week of March, volatility is expected to persist, driven by macroeconomic indicators, central bank comments, and investor sentiment. The euro is showing signs of a possible rebound, gold is poised to continue its bullish trajectory, and bitcoin faces key support and resistance levels that could define its next major move.

EUR/USD

The euro-dollar pair ended the week lower, closing near 1.0387 as it remained within a corrective phase and formed a "Triangle" pattern. Technical indicators suggest a bearish trend, with the price breaking through key moving average signals. Sellers appear to be in control, pointing to a possible continuation of the downtrend. In the coming week, an attempt to test the support zone near 1.0255 is expected, followed by a potential rebound that could push the pair towards the 1.0805 level.
A test of the support line on the Relative Strength Index (RSI) would confirm the likelihood of an upward correction. Additionally, a bounce from the lower boundary of the "Triangle" pattern would reinforce bullish prospects. However, if the pair breaks below 0.9965, the bearish outlook will be confirmed, potentially driving the euro down to 0.9645. A breakout above 1.0645, on the other hand, would signal renewed bullish momentum, indicating a possible breach of the upper boundary of the "Triangle" and setting targets higher.

XAU/USD

Gold remains within a strong bullish trend, with the price continuing to move inside an ascending channel. The breakout above key moving average levels confirms ongoing buying pressure. However, a temporary correction could lead to a test of support near 2835 before prices resume their uptrend. If this scenario plays out, the next upside target lies above 3075.
Further confirmation of gold's bullish continuation would come from an RSI trendline rebound and a bounce from the lower boundary of the channel. Should the price fall and break below 2735, the bullish outlook would be invalidated, signaling a potential decline towards 2665. On the upside, a breakout and close above 2935 would affirm the continuation of the upward movement, keeping gold on track for new highs.

BTC/USD

Bitcoin ended the week at 79,552, staying within a downtrend as it moves towards completing the "Triangle" pattern. While the long-term trend remains upward, the cryptocurrency is currently under selling pressure, as indicated by its break below key moving average signals. A short-term recovery is possible, with an expected test of resistance near 86,505 before renewed downward momentum potentially drives the price towards 61,605.
A confirmation of the bearish scenario would come from a bounce off the lower boundary of the "Triangle" and rejection at the RSI resistance line. If bitcoin manages to break and sustain above 97,045, the bearish outlook would be negated, opening the way for further gains towards 105,605. Conversely, a break below 72,065 would indicate stronger selling pressure and confirm the continuation of the bearish movement.

The upcoming trading week presents a mix of opportunities and risks across Forex and cryptocurrency markets. The euro remains under pressure but could see a recovery if it holds key support levels. Gold continues its bullish momentum, though a short-term correction is likely before further gains. Bitcoin is at a critical juncture, with a possible rebound before a continued decline unless it breaks key resistance. Traders should stay vigilant, monitor economic developments, and prepare for potential volatility in the days ahead.

NordFX Analytical Group

Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

 

[Stan NordFX]

Forex and Cryptocurrency Forecast for March 10 - 14, 2025

The past trading week saw significant movements across major financial instruments, with notable volatility in forex, gold, and cryptocurrency markets. The euro demonstrated strong growth against the US dollar, while gold remained within its bullish channel despite undergoing a correction. Bitcoin continued to test key levels, showing signs of both support and resistance as it fluctuated within a downward correction channel.
Looking ahead to the upcoming week, market participants should brace for continued fluctuations driven by economic data releases, central bank policy expectations, and broader risk sentiment. EUR/USD is poised for potential gains despite facing resistance, gold may extend its uptrend following a correction, and bitcoin remains at a critical juncture where a further decline could signal a deeper correction.

EUR/USD

The EUR/USD pair closed the previous week with strong growth, settling near 1.0837. Despite the overall bearish trend indicated by moving averages, prices have broken above the signal lines, suggesting renewed bullish momentum. In the coming week, the pair may initially experience a pullback towards the support area at 1.0655 before rebounding and continuing its upward trajectory. The primary growth target for the euro stands above 1.1175.
A key factor supporting this potential rise is a test of the support line on the relative strength index (RSI), which historically signals upward reversals. Additionally, a bounce from the lower boundary of the bullish channel would reinforce this scenario. However, a decline below 1.0505 would invalidate the bullish outlook, potentially triggering a deeper fall towards 1.0245. Confirmation of sustained growth would require a breakout above 1.0885, which would indicate a breach of the upper boundary of the descending channel.

XAU/USD

ongoing bullish trend. Moving averages continue to reflect an upward trajectory, and the price action suggests that buyers remain in control. For the upcoming week, a short-term decline towards the support level at 2865 is likely before an upward reversal leads to further gains. The primary target for gold remains above 3085.
An additional confirmation of the bullish scenario will be a rebound from the trend line on the RSI, as well as a reaction at the lower boundary of the bullish channel. However, a drop below 2745 would signal the cancellation of this bullish outlook, potentially driving prices down towards 2675. Conversely, a breakout above 2965 would reinforce expectations of continued growth.

BTC/USD

Bitcoin concluded the previous week at 88,497, maintaining its position within a broader corrective phase. Although the moving averages still point to an overall uptrend, the market is currently facing downward pressure. In the week ahead, BTC/USD may test the support level at 86,505 before attempting another upward move towards 115,685.
A rebound from the lower boundary of the bullish channel or the RSI trend line would support this bullish scenario. However, if bitcoin breaks below 72,305, it would invalidate the upward trend and could lead to a deeper decline, with a target at 66,405. A confirmed bullish continuation would require a breakout above 96,055, which would indicate a shift back towards a more aggressive upward trend.

The coming trading week is expected to bring heightened market activity, with EUR/USD seeking support before resuming its climb, gold aiming for further gains after a correction, and bitcoin standing at a crucial technical threshold. Key support and resistance levels will determine the next major movements for each asset. Traders should remain vigilant to economic releases and technical indicators to navigate the evolving market landscape effectively.

NordFX Analytical Group

Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.