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As the week comes to an end, Crude Oil continues to command attention with its recent bullish breakout. After months of consolidation, prices have surged, driven by a combination of technical patterns and robust economic data from China, a major global oil consumer. With higher highs and bullish momentum prevailing, market participants are closely monitoring key resistance and support levels, alongside geopolitical developments, to assess the near-term trajectory of crude oil prices.

A volatile trading week lies ahead as several high-impact economic events are set to shape market sentiment across key assets. Major data releases, including inflation figures from the UK and the US, Australia’s employment change, and US crude oil inventories, will be closely monitored by traders for potential price shifts. Additionally, geopolitical tensions and trade policy concerns, particularly in light of President-elect Donald Trump’s tariff plans, continue to support the US dollar’s strength. 

This week’s economic landscape is marked by key events across major economies, with a focus on inflation, employment, and consumer spending data from the U.S., UK, and Australia.  Against this backdrop, EURUSD remains in a well-defined bearish trend, though technical indicators hint at a potential corrective move.  Traders will closely monitor critical support and resistance levels while the latest strong U.S. jobs report continues to influence market sentiment, tempering expectations for immediate Fed rate cuts.

This week’s market outlook is shaped by key economic events, including Australia’s CPI, U.S. Unemployment Claims, and crucial employment data from Canada and the U.S.  On the technical front, BTCUSD has entered a bearish phase, with downside momentum intensifying after peaking in mid-December.  Key resistance and support levels highlight potential price targets depending on market sentiment.  Meanwhile, heightened volatility in the crypto market, driven by stronger U.S. economic data and rising Treasury yields, has increased liquidation risks.  Traders will be closely watching upcoming macroeconomic events, including the Federal Reserve’s interest rate decision, to gauge future market direction.

This week, crucial economic data—ranging from Germany’s inflation to the US nonfarm payrolls—will shape market sentiment. EURJPY shows sustained bullish momentum, backed by technical patterns and strong indicators.
On the fundamentals side, Trump’s re-election adds uncertainty for Europe, while Japan eyes moderate growth amid wage-driven consumption. Traders face a complex landscape of opportunities and risks driven by geopolitical shifts and economic forecasts.

Ahead of the ISM Manufacturing PMI release on Friday at 17:00 (GMT+2), the dollar remains strong, supported by robust labor market data and steady economic conditions.  The EURUSD, down significantly since September, faces continued bearish pressure, though technical divergences hint at a potential rebound.  Traders are eyeing key support and resistance levels for guidance.

Despite a sharp correction from its July highs, Crude Oil has found firm support above the $66.00 mark and recently formed a reversal pattern, signaling potential further upside. Technical indicators are reinforcing the bullish bias, with the Momentum Oscillator and RSI both holding above their neutral thresholds. Key resistance levels lie between $72.968 and $77.913, while support levels stretch down to $66.742, offering reference points for traders on both sides of the market. Fundamentals reflect a delicate balance between improving economic signals in China and ongoing demand concerns, setting the stage for potentially volatile moves into the coming weeks.

As the holiday season unfolds, key economic data and central bank actions take center stage.  The US reports on unemployment claims and crude oil inventories, while Japan's Tokyo Core CPI offers insight into inflation trends.
The USDJPY pair maintains a bullish trajectory, supported by technical patterns and strong dollar demand.  Meanwhile, the Federal Reserve's gradual easing contrasts with the Bank of Japan's unexpected decision to hold rates steady, shaping market sentiment during this festive period.