Forex and Cryptocurrency Forecast for April 28–May02, 2025
The past week was marked by strong growth inboth traditional and digital assets. The euro demonstrated notablestrengthening against the dollar, gold continued to climb aggressively, andbitcoin maintained its position within a bullish channel. As we move into thecoming week, investors should be prepared for potential corrections across allthree instruments, followed by renewed attempts at growth or continued trendsdepending on key technical levels.
EUR/USD
The EUR/USD currency pair ended the previoustrading week with confident gains, closing near 1.1364. Moving averagesindicate the formation of a bullish trend, with prices having broken throughthe area between the signal lines upwards, confirming the buyers’ pressure onthe European currency. In the coming week, an attempt to continue the bullishcorrection is expected, with quotes likely to test the resistance area around1.1525. However, from this level, a downward rebound is anticipated, followedby a continuation of the pair’s decline towards the area below 1.0795.
An additional signal supporting a decline inEUR/USD would be a test of the resistance line on the relative strengthindicator (RSI), alongside a possible rebound from the upper boundary of thebullish channel. A cancellation of the downward scenario would require stronggrowth and a breakout above 1.1765, which would open the way for a further risetowards the 1.1995 level. On the downside, confirmation of continued weakeningwould come if quotes break and close below 1.1205, signalling a breakout of thebullish correction channel’s lower border.
XAU/USD
Gold ended the trading week with sharp gains,closing near the 3319 area. XAU/USD continues to move within a correction and abullish channel, with moving averages pointing to the preservation of theupward trend. Buyers have successfully pushed prices upwards through the areabetween the signal lines, reinforcing expectations of further growth. In theearly part of the new week, a bearish correction could develop, with a likelytest of the support level near 3195. After this, a rebound is expected, followedby continued growth towards a potential target above 3745.
A further signal favouring continued growthwould be a rebound from the trend line on the RSI, as well as a bounce from thelower boundary of the bullish channel. A cancellation of the growth scenariowould require a fall and a breakout below the 3145 area, which would indicate abreakdown of the bullish channel’s lower boundary and a potential decline ingold prices towards 2775. Confirmation of renewed growth will be provided by abreakout above the resistance area and the closing of quotes above 3425.
BTC/USD
Bitcoin finished the trading week at the 94720level, continuing its movement within a well-defined bullish channel. Movingaverages confirm the presence of an upward trend, with prices breaking throughthe area between the signal lines, highlighting strong demand from buyers. Inthe short term, a bearish correction is possible, with a test of the supportarea near 87305 anticipated. From this zone, an upward rebound is expected,leading to a potential continuation of the rise towards 125605.
An additional signal favouring bitcoin’sgrowth will be a rebound from the bullish channel’s lower boundary, supportedby a test of the support line on the RSI. The growth scenario could becancelled if BTC/USD falls and breaks through the 72565 level, which wouldsuggest a further decline towards 64505. A breakout above the resistance areaand a closing of quotes above 98505 will confirm the continuation of thebullish trend.
Conclusion
The overall market picture remains tiltedtowards bullish trends for the euro, gold, and bitcoin, although the comingdays may bring corrective movements as part of broader upward structures. Keyresistance and support levels will play a decisive role in determining whetherthe corrections are short-lived or signal a deeper reversal. Traders shouldremain alert to breakouts of major technical boundaries, which will offerclearer signals for the further development of trends during the week fromApril 28 to May 2, 2025.
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.
