Good morning, and welcome Spring !
BITCOIN
After trading at a low of $81,141 last Tuesday, March 18th, Bitcoin started a slow recovery which made the week end on a positive note. With market trading early today in Europe above $87,200, all indicators point to a possible move towards the resistance located at around $90,200 , which if broken might open the door towards $94,700. Support at $84,700, then $79,000.
Any dip should be seen a a buying opportunity. I would stay long on Bitcoin this week.
DOLLAR
Euro was again unable to break 1.0900, and has been on the defensive all week. This situation should repeat this week , with first support at 1.0750, then 1.0520.
Again this week, my idea is to stay aside until 1.0700 is reached, where I would be a scale down buyer every 50 pips.
PRECIOUS METALS
Gold reached early last week the forecasted $3,040/$3,060 per ounce area, setting a new ATH at $3,057 and coming sligthly down on profit taking , but managed to stay above the important $3,020 level, which makes us think we will see further gains this week, into uncharted territory.
Inflationary pressures from the impact of tariffs in US inflation figures, and the safe-haven character of gold , should help on the quest for higher prices.
Silver was hesitant last week and was short of our $35 objective. However still looks good and we might probably see this level on the current week.
With this behaviour, Gold/Silver ratio rocketed above $81 for the first time since February 2024 and looks as it might try higher levels on gold strength . I would be aside this week .
Good luck !
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