Forex andCryptocurrency Forecast for March 03 - 07, 2025
The past week saw notable market fluctuationsacross major Forex and cryptocurrency pairs, with the euro weakening againstthe dollar, gold maintaining its bullish momentum, and bitcoin experiencingdownward pressure despite an overall long-term uptrend. Moving into the firstfull week of March, volatility is expected to persist, driven by macroeconomicindicators, central bank comments, and investor sentiment. The euro is showingsigns of a possible rebound, gold is poised to continue its bullish trajectory,and bitcoin faces key support and resistance levels that could define its nextmajor move.
EUR/USD
The euro-dollar pair ended the week lower, closingnear 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 tobe in control, pointing to a possible continuation of the downtrend. In thecoming 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 1.0805level.
A test of the support line on the Relative StrengthIndex (RSI) would confirm the likelihood of an upward correction. Additionally,a bounce from the lower boundary of the "Triangle" pattern wouldreinforce bullish prospects. However, if the pair breaks below 0.9965, thebearish outlook will be confirmed, potentially driving the euro down to 0.9645.A breakout above 1.0645, on the other hand, would signal renewed bullishmomentum, indicating a possible breach of the upper boundary of the "Triangle"and setting targets higher.
XAU/USD
Gold remains within a strong bullish trend, withthe price continuing to move inside an ascending channel. The breakout abovekey moving average levels confirms ongoing buying pressure. However, atemporary correction could lead to a test of support near 2835 before pricesresume their uptrend. If this scenario plays out, the next upside target liesabove 3075.
Further confirmation of gold's bullish continuationwould come from an RSI trendline rebound and a bounce from the lower boundaryof the channel. Should the price fall and break below 2735, the bullish outlookwould be invalidated, signaling a potential decline towards 2665. On theupside, a breakout and close above 2935 would affirm the continuation of theupward movement, keeping gold on track for new highs.
BTC/USD
Bitcoin ended the week at 79,552, staying within adowntrend as it moves towards completing the "Triangle" pattern.While the long-term trend remains upward, the cryptocurrency is currently underselling pressure, as indicated by its break below key moving average signals. Ashort-term recovery is possible, with an expected test of resistance near86,505 before renewed downward momentum potentially drives the price towards61,605.
A confirmation of the bearish scenario would comefrom a bounce off the lower boundary of the "Triangle" and rejectionat the RSI resistance line. If bitcoin manages to break and sustain above97,045, the bearish outlook would be negated, opening the way for further gainstowards 105,605. Conversely, a break below 72,065 would indicate strongerselling pressure and confirm the continuation of the bearish movement.
Conclusion
The upcoming trading week presents a mix ofopportunities and risks across Forex and cryptocurrency markets. The euroremains under pressure but could see a recovery if it holds key support levels.Gold continues its bullish momentum, though a short-term correction is likelybefore further gains. Bitcoin is at a critical juncture, with a possiblerebound before a continued decline unless it breaks key resistance. Tradersshould stay vigilant, monitor economic developments, and prepare for potentialvolatility in the days ahead.
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.
