The past week brought few surprises. As expected, gold set a new record, Brent oil remained under pressure, bitcoin failed to break out of its corrective range, and the euro continued sideways trading while awaiting catalysts that could drive movement in either direction.
💶 EUR/USD
The pair ended the week near 1.1650, which can be considered the pivot point of the 1.1550-1.1750 range and the broader 1.1400-1.1900 corridor. These boundaries remain the key targets for bulls and bears alike. A steady move higher would open the way to 1.1710–1.1750, followed by 1.1810 and 1.1900. A return below 1.1600 would again point toward 1.1525–1.1550, with a confident break lower exposing 1.1400. Upcoming price action will determine whether the bullish structure holds or a deeper downward correction is due.
₿ BTC/USD
Bitcoin fluctuated sharply following President Trump’s statement about potential new tariffs on Chinese imports. As a result, it surged toward 116,000 before dropping back to the October 11 low near 103,500 amid a wave of long position liquidations. By Saturday, October 18, the leading cryptocurrency was trading around 107,000. Despite the current pullback, the long-term uptrend remains intact, although short-term moves stay sensitive to investor sentiment and signals from the U.S. The nearest strong support lies around 103,500, while a firm break below 98,000–100,000 could trigger a drop to 90,000-92,000. Immediate resistance levels are seen at 112,000, 116,000, and 120,000.
🛢 Brent
Two weeks ago, we noted that if bears managed to keep oil prices below the key 64.80–65.00 support, it would turn into resistance — which is exactly what happened. All bullish attempts to test this area failed, with bears successfully defending it. Brent fell to as low as 59.99 and ended the week at 61.17 USD per barrel. The technical outlook remains bearish, and a move below 60.00 could extend losses to 58.00 or even 53.50. However, any softening of U.S. tariff rhetoric or signs of improving demand could reverse the trend and push prices back above the 64.80–65.00 zone.
🥇 XAU/USD
Gold updated its all-time high last week, peaking at 4,380 USD per ounce before retreating to the lower end of the range and closing around 4,250. The uptrend remains valid while the price holds above 4,000-4,080. Immediate resistance is seen at 4,330-4,380. If macroeconomic factors and central-bank demand for safe-haven assets continue to support the bullish picture, the psychologically important 5,000 USD level could be reached within the coming months. On the other hand, overbought conditions suggest a possible consolidation or decline below 4,200 toward 3,765-3,900.
📌 Conclusion
The new week opens with gold consolidating after record highs, Brent attempting to form a local bottom, bitcoin trying to stabilise above the 110,000 area, and the euro defending the mid-range of 1.1550-1.1750. Traders should be prepared for news-driven volatility and monitor key technical levels closely.
During the week of October 20-24, market focus will be on data shedding light on inflation trends and business activity in major economies. On Monday, the U.S. leading indicators and the eurozone current account report will be released. Tuesday will bring industrial price data and the Business Outlook Survey in Canada. Wednesday’s highlight will be the UK Consumer Price Index (CPI), which could influence expectations for Bank of England policy. On Thursday, investors will turn their attention to U.S. jobless claims, while the week will conclude on Friday with U.S. new home sales and the University of Michigan Consumer Sentiment Index.
