USD INDEX
The USD rally which has been in place since the beginning of the year was wiped out and reversed in a week which saw the world’s global currency sold off across the board. Notwithstanding Trump’s about turn re. Greenland (military takeover and tariffs), it appears that negative sentiment surrounding the USD set in, keeping buyers on the sidelines confirming limited demand for the dollar. The White House’s repeated threats against Iran added to the mood. Note this is the 3rd round of attempts to break the 07.00 support area since mid 2025. Resistance at 99.07 with support at 97.19.
S&P 500
Following a steep sell-off early in the week, US stock markets bounced back to end the week with a slightly lower close. EMA s pointing down. For the 5th consecutive week, the index has traded loosely between 6900 and 7000, with the 6950 area holding as a comfort zone for both buyers and sellers. Resistance at 6963 with support at 6815.
GOLD
Another round of daily and weekly record highs as demand for the safe haven commodity continues. As prices continue to push higher into unchartered territory, the moves are sharp and strong with no previous resistance levels to provide technical analysis for traders to work with. Geopolitical conflicts and global financial uncertainty (tariffs, stock market bubble, recession fears) contribute to the one-sided activity with buyers stepping in at every level. Neither the elements of profit-taking or overbought technicals (RSI 80) have provided an incentive for sellers to enter the market, yet. Resistance at $4989 with support at $4641.
BRENT OIL
While buyers added to the uptrend, the charts show the big picture downtrend from early 2025 signals last week’s high ($66.84) as perhaps a new lower higher. Price action was contained close to the $64 area through last week, until Friday when Trump repeated aggressive threats re. Iran intervention - resulting in a one day sharp rally. Resistance at $65.44 with support at $62.91.
BITCOIN
The downtrend remains in place with sellers in control. Significantly, price activity was very much contained below the $90K mark, confirming a lack of demand for the cryptocurrency. Sellers have been testing current support area since mid November 2025, with buyers guarding the level, so far. Noteworthy that BTC has once again failed to draw interest as a safe haven currency in the face of current USD weakness. Following the deep sell-off from October/November 2025, buyers have been unable to stage a fightback. The Resistance at $93.6K with support at $86.4K.
