Weekly Recap: What Moved Markets Last Week

Forex – The U.S. dollar displayed a mixed performance. EUR/USD slipped back toward the 1.07‑1.08 zone after the Eurozone PMI data missed expectations, while GBP/USD hovered around 1.2670 following the BoE’s decision to keep rates steady. The yen remained range‑bound as Japanese authorities signaled no imminent policy shift.

Crypto – Bitcoin (BTC/USD) rallied ~4% to breach the $31,200 mark, driven by renewed optimism after the SEC’s delayed decision on a major spot ETF. Ethereum (ETH/USD) followed, climbing roughly 5% to $2,050, buoyed by positive DeFi‑related regulatory chatter.

Commodities – Gold (XAU/USD) broke the $4,700‑per‑ounce ceiling, closing the week on a bullish note. The metal’s price was underpinned by a weaker dollar, persistent inflation worries, and a steady flow of net‑long positions from futures traders.

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Commodity Spotlight: Gold’s Bullish Momentum

The latest data from TradingEconomics shows gold set for a weekly decline, but the broader market narrative tells a different story. Technical indicators across multiple time frames are aligning for a bullish breakout:

• Moving Averages: The 20‑day SMA has crossed above the 50‑day SMA, a classic golden‑cross signal.
• RSI: Currently at 58, leaving room for further upside before hitting overbought territory.
• Key Resistance: $4,750 per ounce is the next major hurdle; a break could open the path toward $4,800.

Fundamentally, the metal benefits from:

1. Persistently high inflation in the U.S., keeping real yields negative.
2. Geopolitical uncertainty—the ongoing Middle‑East tension and the recent F‑15 incident keep investors seeking safe‑haven assets.
3. Weakening USD after the latest CPI print showed a modest rise, reinforcing gold’s inverse relationship with the greenback.

For traders, the risk‑reward on the upside is attractive, especially on the 4‑hour and daily charts where price action is forming higher highs. Those managing a Global4EX funded account can consider scaling into long positions while respecting the firm’s drawdown limits.

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Forex Recap: Major Pair Highlights

EUR/USD – The pair is testing the 1.0740‑1.0755 range. A break below 1.0740 could open the path to 1.0680, while a bounce above 1.0755 may retest the 1.0800 resistance.

GBP/USD – The pound is stuck near 1.2670. Look for a decisive move above 1.2700 to target 1.2800, or a dip below 1.2630 could see the pair slide toward 1.2500.

USD/JPY – The yen is holding the 147.80‑148.20 band. A breach above 148.20 could push the pair toward 149.00, while a move under 147.80 may test the 146.50 support.

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Crypto Recap: BTC & ETH in Focus

• BTC/USD: After a 4% weekly gain, Bitcoin is testing the $31,500 resistance. The next major level sits at $32,200, which aligns with the 50‑day EMA. A break could trigger a rally toward $33,000.
• ETH/USD: Ethereum’s 5% surge places it near the $2,075 ceiling. The 200‑day EMA at $2,100 acts as a key barrier; a close above it would open the route to $2,150.

Both assets are benefitting from risk‑on sentiment as the crypto market digests the SEC’s upcoming decision on a spot Bitcoin ETF. Volume spikes on the Binance and Coinbase order books suggest institutional interest is re‑emerging.

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Key Events & Data Releases This Week

Staying ahead of these releases is essential for risk management and for fine‑tuning trading strategies across forex, crypto, and commodities.

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Pair Outlook: Technical Targets for the Week

EUR/USD

• Support: 1.0690 (weekly low)
• Resistance: 1.0780 (previous high)
• Trading Strategy: Look for a pull‑back to 1.0720 before entering a long position with a stop just below 1.0690. For short ideas, watch a break below 1.0690 for a move toward 1.0630.

GBP/USD

• Support: 1.2630
• Resistance: 1.2740
• Trading Strategy: A bounce off 1.2670 with a break above 1.2740 could justify a long setup targeting 1.2850. Conversely, a drop below 1.2630 may open a short toward 1.2500.

USD/JPY

• Support: 147.30
• Resistance: 149.00
• Trading Strategy: Trade the range with a long on a rally above 148.20, targeting 149.00. Short positions can be placed on a break below 147.30, aiming for 146.00.

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Crypto Levels: BTC/USD & ETH/USD

• BTC/USD

  • Support: $30,800 (weekly low)
  • Resistance: $31,500‑$32,200 (key EMA zones)
  • Strategy: Consider a long entry on a bounce above $31,500 with a stop under $30,800. Short positions can be placed if price falls below $30,800, targeting $29,500.

• ETH/USD

  • Support: $2,030 (200‑day EMA)
  • Resistance: $2,075‑$2,100 (next EMA block)
  • Strategy: Long on a break above $2,075 with a stop at $2,030. A short could be triggered if price drops below $2,030, looking toward $1,970.

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Final Thoughts: Positioning for a Data‑Driven Week

Gold’s bullish momentum, a resilient USD, and a cautiously optimistic crypto market set the stage for a dynamic week. Traders should:

1. Align risk management with the volatility calendar—tighten stops ahead of the U.S. payrolls and CPI releases.
2. Leverage technical analysis to confirm entry points, especially around moving‑average crossovers and RSI thresholds.
3. Consider prop‑firm opportunities: For those seeking a best prop firm 2026 experience, the Global4EX Challenge and 1‑Phase evaluations provide a low‑drawdown route to a funded account, allowing you to apply the strategies outlined here without risking personal capital.

Whether you manage a retail portfolio or a Global4EX funded account, the convergence of gold’s upward trend, key forex pair pivots, and crypto’s renewed vigor offers multiple avenues for profit. Stay disciplined, keep an eye on the calendar, and let the data guide your trading decisions.

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Published by the Global4EX Team. Learn more at global4ex.com