Forex andCryptocurrency Forecast for February 10 - 14, 2025
The past week saw contrasting movements in keymarkets. The euro continued to lose ground against the US dollar, with bearishsentiment dominating the EUR/USD pair. Meanwhile, bitcoin remained strongdespite minor pullbacks, holding its place in a bullish trend channel. Goldprices, too, extended their rise, reflecting continued market demand forsafe-haven assets amid global uncertainties. As we look ahead to the upcomingweek, market trends suggest potential shifts in key assets depending on supportand resistance levels.
EUR/USD Outlook
The EUR/USD currency pair concluded last week near1.0393, marking another decline as bearish momentum persisted. A reversalpattern, identified as the "Head and Shoulders," remains in play,indicating continued pressure on the euro. Moving averages confirm the bearishtrend, and the pair broke below key signal lines, reinforcing expectations forfurther downside movement.
In the coming week, the pair may test the supportlevel near 1.0290. If this level holds, a rebound is anticipated, potentiallypropelling the euro toward a target of 1.0735. Technical indicators, includinga test of the support line on the relative strength index (RSI), point towardsthis recovery scenario. However, should the pair breach 0.9985, the bearishoutlook would be reaffirmed, setting the stage for a decline towards the 0.9675region.
Ultimately, the focus for EUR/USD traders remainson whether the pair can sustain its current support levels or whether furtherbearish action will drive it to new lows.
Gold (XAU/USD) Outlook
Gold ended the week trading near 2870, maintainingits position within a strong bullish channel. Moving averages indicate that theupward momentum remains intact, with prices breaking higher across key signalareas. This suggests that market sentiment remains favourable for continuedgold price growth in the near term.
Despite the bullish sentiment, a short-termcorrection could lead to a test of the 2755 support level. If prices findstability there, a rebound toward the 3165 target is likely. A key signalsupporting this scenario is a potential bounce off the lower border of thebullish channel, complemented by RSI trends pointing to continued upwardmomentum. Conversely, if gold prices breach the 2635 level, a deeper correctiontoward 2555 could unfold.
Given its safe-haven status, gold’s trajectory thisweek will likely reflect both technical dynamics and broader risk sentiment inthe markets.
Bitcoin (BTC/USD) Outlook
Bitcoin remains resilient, closing last week at97,224. The asset has stayed within an established bullish channel, with movingaverages suggesting a continuation of the uptrend. The break above key signallines has underscored renewed buying interest, even though short-termcorrections are still part of the market dynamic.
In the coming week, bitcoin may test support near86,065. Should buyers regain control at this level, a subsequent rally couldpush prices beyond 127,605. Technical signals, including a rebound from boththe lower channel boundary and the RSI support line, indicate that bitcoinremains on course for further growth. However, a failure to hold the 86,065level might lead to a steeper decline, targeting the 75,205 mark.
Bitcoin’s price path will largely depend on whetherbullish momentum can overcome any short-term corrective pressures, as tradersmonitor both fundamental and technical indicators.
Conclusion
The upcoming week presents key inflection pointsfor EUR/USD, gold, and bitcoin. The euro faces potential further losses unlessit can hold crucial support levels, while gold appears set for continued gainsif its bullish channel remains intact. Bitcoin, on the other hand, retains itslong-term upward trajectory but must first withstand near-term corrections.Traders will closely watch support and resistance levels across these marketsto assess potential reversals and confirm trend continuation.
NordFX Analytical Group
Disclaimer:These materials are not an investment recommendation or a guide for working onfinancial markets and are for informational purposes only. Trading on financialmarkets is risky and can lead to a complete loss of deposited funds.
