Forex andCryptocurrency Forecast for March 10 - 14, 2025
The past trading week saw significant movementsacross major financial instruments, with notable volatility in forex, gold, andcryptocurrency markets. The euro demonstrated strong growth against the USdollar, while gold remained within its bullish channel despite undergoing acorrection. Bitcoin continued to test key levels, showing signs of both supportand resistance as it fluctuated within a downward correction channel.
Looking ahead to the upcoming week, marketparticipants should brace for continued fluctuations driven by economic datareleases, central bank policy expectations, and broader risk sentiment. EUR/USDis poised for potential gains despite facing resistance, gold may extend itsuptrend following a correction, and bitcoin remains at a critical juncturewhere a further decline could signal a deeper correction.
EUR/USD
The EUR/USD pair closed the previous week withstrong growth, settling near 1.0837. Despite the overall bearish trendindicated by moving averages, prices have broken above the signal lines,suggesting renewed bullish momentum. In the coming week, the pair may initiallyexperience a pullback towards the support area at 1.0655 before rebounding andcontinuing its upward trajectory. The primary growth target for the euro standsabove 1.1175.
A key factor supporting this potential rise is atest of the support line on the relative strength index (RSI), whichhistorically signals upward reversals. Additionally, a bounce from the lowerboundary of the bullish channel would reinforce this scenario. However, adecline below 1.0505 would invalidate the bullish outlook, potentiallytriggering a deeper fall towards 1.0245. Confirmation of sustained growth wouldrequire a breakout above 1.0885, which would indicate a breach of the upperboundary of the descending channel.
XAU/USD (Gold)
Gold ended the previous trading week near 2913,undergoing a correction within its ongoing bullish trend. Moving averagescontinue to reflect an upward trajectory, and the price action suggests thatbuyers remain in control. For the upcoming week, a short-term decline towardsthe support level at 2865 is likely before an upward reversal leads to furthergains. The primary target for gold remains above 3085.
An additional confirmation of the bullish scenariowill be a rebound from the trend line on the RSI, as well as a reaction at thelower boundary of the bullish channel. However, a drop below 2745 would signalthe cancellation of this bullish outlook, potentially driving prices downtowards 2675. Conversely, a breakout above 2965 would reinforce expectations ofcontinued growth.
BTC/USD (Bitcoin)
Bitcoin concluded the previous week at 88,497,maintaining its position within a broader corrective phase. Although the movingaverages still point to an overall uptrend, the market is currently facingdownward pressure. In the week ahead, BTC/USD may test the support level at86,505 before attempting another upward move towards 115,685.
A rebound from the lower boundary of the bullishchannel or the RSI trend line would support this bullish scenario. However, ifbitcoin breaks below 72,305, it would invalidate the upward trend and couldlead to a deeper decline, with a target at 66,405. A confirmed bullishcontinuation would require a breakout above 96,055, which would indicate ashift back towards a more aggressive upward trend.
Conclusion
The coming trading week is expected to bringheightened market activity, with EUR/USD seeking support before resuming itsclimb, gold aiming for further gains after a correction, and bitcoin standingat a crucial technical threshold. Key support and resistance levels willdetermine the next major movements for each asset. Traders should remainvigilant to economic releases and technical indicators to navigate the evolvingmarket landscape effectively.
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.
