The past week was marked by a notable improvement in global risk sentiment. The key driver was the easing of geopolitical tensions in the Middle East, after confirmation that the Strait of Hormuz would remain open during the ceasefire period. As a result, oil prices fell sharply, removing part of the geopolitical risk premium, weakening the US dollar, and supporting both equity markets and precious metals.
At the same time, investors continued reassessing expectations for the Federal Reserve. Lower energy prices slightly eased short-term inflation concerns, although uncertainty remains ahead of upcoming macroeconomic data releases.
In the week ahead, traders will focus on preliminary PMI data from the Eurozone, the UK, and the US (April 23), as well as US durable goods orders and housing statistics (April 24). These indicators may shape expectations for economic growth and monetary policy, while geopolitical developments will continue to influence market dynamics.
As of the close on Friday, April 17, 2026, EUR/USD finished near 1.1764, Brent crude at 90.38, gold at 4,879.60, silver at 81.84, Bitcoin at 77,127, and Ethereum at 2,420.
EUR/USD
The EUR/USD pair ended the week near 1.1764 after testing the 1.1849 level. The euro remained supported by broad US dollar weakness amid improving market sentiment. However, the pair has yet to firmly lock above the key 1.1800 resistance zone.
If bullish momentum persists, EUR/USD may attempt another move toward 1.1800–1.1850, with a potential extension to 1.1900. On the downside, support levels are located at 1.1720, 1.1680, and 1.1630.
Baseline view: neutral-to-bullish while trading above 1.1720.
Brent Crude Oil
Brent crude closed the week near 90.38 after experiencing high volatility and a sharp decline from earlier highs above 100. The drop was driven primarily by easing concerns over supply disruptions following geopolitical developments.
In the coming week, Brent may attempt a corrective rebound toward 92.50 and 95.00 if prices stabilize above 89.00. However, continued easing of geopolitical risk could push prices lower toward 86.10 and 83.50.
Baseline view: neutral-to-bearish below 92.50.
Gold (XAU/USD)
Gold ended the week near 4,879 after rebounding strongly and approaching the 4,912 level. The metal continued to benefit from US dollar weakness and lingering geopolitical uncertainty.
Resistance levels are located at 4,912, 4,950, and 5,000. Support is seen at 4,840, 4,790, and 4,750. A break above recent highs could trigger further upside, while consolidation remains possible if risk sentiment continues to improve.
Baseline view: neutral-to-bullish above 4,840.
Silver (XAG/USD)
Silver closed near 81.84, showing stronger relative performance compared to gold. The metal reached a weekly high near 83.24, supported by both safe-haven demand and speculative interest.
Resistance levels are at 83.25, 84.50, and 86.00. Support is located at 80.00, 78.50, and 77.80. A sustained move above 83.25 may accelerate the upward trend, while a drop below 80.00 could trigger a correction.
Baseline view: bullish above 80.00.
Bitcoin (BTC/USD)
Bitcoin ended the week near 77,127 after testing resistance in the 78,000 area. The cryptocurrency benefited from improved risk appetite and continued investor interest.
If the upward trend continues, Bitcoin may target 78,250, 79,000, and the key 80,000 level. Support is located at 75,800, 74,550, and 73,000. A failure to hold above 75,800 could weaken short-term momentum.
Baseline view: mildly bullish above 75,800.
Ethereum (ETH/USD)
Ethereum closed the week near 2,420, following Bitcoin’s upward movement. The asset showed stable growth but remains slightly more volatile.
Resistance levels are at 2,465, 2,500, and 2,575. Support is located at 2,380, 2,318, and 2,250. Further growth will depend largely on overall crypto market sentiment.
Baseline view: neutral-to-bullish above 2,380.
Conclusion
The upcoming week will be shaped by a combination of macroeconomic data and geopolitical developments. EUR/USD remains supported but faces resistance near 1.18, oil has entered a corrective phase, and precious metals retain a positive bias. Cryptocurrencies are strengthening, although approaching key resistance zones.
Overall, markets are likely to remain volatile, with price action dependent on both economic data and external headlines.
NordFX Analytical Group
Disclaimer: These materials are not an investment recommendation or a guide for working on financial markets and are for informational purposes only. Trading on financial markets is risky and can lead to a complete loss of deposited funds.
