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Bitcoin

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Bitcoin plunged during the week, but it has recently been searching for support near the 50-week EMA. It's also worth noting that the $75,000 level is just below that point. 

The shape of the weekly candlestick resembles a hammer formation a bit, so that could bring in some technical traders. It’ll be interesting to see if price action can break above the top of the hammer in the coming days. Such a move could see Bitcoin shift focus to the $90,000 level.

EUR/USD

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The euro rallied once again during the course of the week, yet it now seems to be struggling at the 200-week EMA. It also seems like the 1.09 level could be offering a significant amount of resistance.

A breakdown below the 1.08 level could spark a further decline in the euro. In the current market environment, it would not be too much of a stretch to see traders flee back to the US dollar in search of safety. After all, the euro has been wobbling a bit.

GBP/USD

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The British pound initially jumped during the course of the trading week, but the 1.30 level is now acting as a significant barrier. The recent high for the week could be a technical indicator worth watching, as it marks the 61.8% Fibonacci retracement from the massive plunge seen late last year.

The currency pair appears to be forming a shooting star structure, which seems to suggest that the US dollar may experience similar price action this week.

USD/CAD

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The US dollar initially rallied against the Canadian dollar during the course of the week, but it also gave back quite a bit of those gains as it reached the 1.45 level. This market experienced a large amount of noise over the week, and I think that will continue to be the case due to tariff announcements and the rhetoric emerging from both sides of the border in North America.

NZD/USD

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The New Zealand dollar initially fell against the US dollar during the course of the week, before it then turned around to show signs of life. That being said, the range is still very tight in the New Zealand dollar, as traders are continuing to punish New Zealand due to its reliance on Asia.

In fact, the New Zealand dollar is one of the few larger currencies that has not fared well against the greenback for the last several weeks. Because of this, I think this space will continue to see sideways price action.

DAX

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The German index fell during the week, but it has since seen some significant buying, and it has formed a bit of a hammer on the chart. The EUR22,000 level continues to be the floor in the market at the moment, and I think short-term dips could serve as buying opportunities. 

If the index can break above the EUR23,450 level, then it could potentially move toward the EUR24,000 level. Regardless, any drops in this market could see a surge of buying.

Nasdaq 100

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The Nasdaq 100 ended up being negative again for the week, as it reached all the way down to the 19,129 level. That being said, the market did bounce a bit from there, and it is worth noting that volume has been starting to pick up.

I believe the Nasdaq 100 could see some type of bounce at this point, but I don't believe it would be worth buying with its current momentum. The question now is whether or not the recent price action was just a 10% correction, or if it was something worse?

USD/MXN

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The US dollar initially tried to rally against the Mexican peso this week, but it plunged below the MXN20 level.It seems to be on the verge of a significant breakdown. If you look at the longer-term, multi-year charts, the area between the MXN20 and MXN21 levels typically ends up being a massive resistance zone.

It seems that traders are starting to take notice of how tensions between the United States and Mexico have cooled quite significantly. If we see a breakdown from here, such a move could see the dollar drop down to the MXN19 level.

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