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Gold
 

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There’s almost no way I can do any analysis of the overall markets without looking at gold. The gold market ended the week hanging around just below the crucial $5000 level, although it appears to be a bit stretched at the moment.

I would anticipate some type of pullback here, but I don’t think such an outcome would be anything other than a potential buying opportunity if and when the yellow metal can break above the $5000 level. We will likely see the gold market rip even higher. I see support at every $200, all the way down to at least the $4000 level.

EUR/GBP
 

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This is a market that I think too many traders are overlooking. The euro initially tried to rally against the British pound during the week, but it seems some 'market memory' came into the picture at the 0.8750 level. 

Given the stronger-than-anticipated Retail Sales figures coming out of the United Kingdom and the forward-looking PMI numbers, it makes sense that the British pound has continued to strengthen. In fact, the British pound is rapidly becoming one of the better performers in the G-10 world (the other one being the Australian dollar).

At this point in time, rallies may continue to be fading opportunities for short-sellers, and a breakdown below the 200-day EMA could see the currency pair drop much further.

Silver
 

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The other market that everybody has been asking me about is silver, which has doubled in price over the last nine weeks. The gray metal managed to break above the $100-an-ounce level on Friday.

Sooner or later, however, everybody loses money -- and with a move like this, I would be very cautious. I still think it would be wise to either buy dips or sit on the sidelines, as I certainly wouldn’t want to be the person trying to short this type of momentum. Keep in mind, though, that if the market was to drop back down to the $70 level, such a fall would wipe out most traders.

USD/JPY
 

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The US dollar initially rallied against the Japanese yen, but it has since experienced a lot of volatility during the course of the trading week, as it broke above the JPY158 level before crashing lower as the Bank of Japan decided to sit still.

The interest rate differential could still help the US dollar, but it has remained in an area that has shown massive resistance more than once, so a bit of a pullback would not be a huge surprise. Ultimately, I think this is a “buy on the dip” pair, but a trader would probably need to get out in the short-term, as the US dollar is definitely on its back foot at the moment.

EUR/USD
 

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The euro shot straight up in the air during the week, as trade tensions between the United States and the European Union continud to cause headaches. As I write this article, the pair has been testing the 1.18 level, an area that has been a massive resistance, extending by at least 50 pips.

If it can break above all of that, such a move would be a very strong sign for the euro. Ultimately, this is a market that appears to be range-bound still, but it certainly looks like the currency pair is trying to break out.

USD/MXN
 

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The US dollar fell significantly against the Mexican peso again this week, as it broke below the crucial MXN17.50 level. At this point, the market appears to be heading toward the MXN17 level, as the carry trade continues to play out. Short-term rallies will likely continue to serve as selling opportunities in a market that is beaten down rather significantly, and as a result, I like the idea of shorting the space.

Bitcoin
 

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Bitcoin moved all over the place during the week, as traders have continued to question the cryptocurrency's resiliency in the longer-term and the sustainability of the $84,000 level. The $84,000 level seems to be a rather important one from a technical analysis standpoint, though you could also make an argument for a bearish flag formation.

A breakdown below the $80,000 level could open up a move down to the 200-week EMA, which is sitting right around the $60,000 level. If Bitcoin can turn around and recapture the $95,000 level, then there could be potential to reach toward the $100,000 level above.

S&P 500
 

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The S&P 500 fell to the 6800 level early in the week, but it spent the rest of the week rallying from there, as the spat between the European Union and the United States calmed down. With that being the case, traders have been starting to focus on the upcoming earnings calls that will be the main market driver, barring any geopolitical noise over the next couple of weeks.

As things stand right now, it looks like the S&P 500 is well supported. At this point in time, I believe the 6800 level may offer massive support.

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