Recently, I’ve been paying attention to the trends in the forex market and commodities, and I feel there are some interesting signals at several key levels this week.

First, let’s talk about the euro. EUR/USD has been oscillating around 1.1800 on Thursday, briefly reaching 1.1823 but failing to hold, then pulling back for consolidation. It looks like the euro has been rising for eight consecutive days from a low, so a short-term correction might be needed. However, overall, the trend remains upward. If it can hold above 1.1800, it should continue to push higher, with targets possibly at 1.2000 or even 1.2200. Conversely, if it effectively breaks below 1.1700, the rally will be truly broken. Support levels are at 1.1740, 1.1680, and 1.1600.

The AUD/USD performance was even more vigorous, reaching 0.7197 on Thursday, hitting a nearly four-year high. After finding support around 0.6900 some time ago, this currency pair started a new rally, and the upward momentum still looks good. If it can break through the psychological level of 0.7200, it may challenge 0.7300 or even 0.7500 in the future. But if it falls below 0.7100, that indicates the rally is in trouble. Interestingly, this upward move might continue until around mid-May.

Gold also broke through a key level this week. It rose 0.43% on Thursday, finally surpassing $4,800. Previously, gold repeatedly tested this level, and this successful breakout should support further gains. From a larger cycle perspective, gold has rebounded from the low of $4,098 at the end of March and remains in this rebound cycle. If it can hold above $4,800, the next target is the psychological level of $5,000, possibly even reaching $5,200. To reverse this upward trend, a drop below $4,600 would be necessary.

Bitcoin also shows new signals. Although Thursday’s price was consolidating around $76,000 with little volatility, the latest data shows it has risen to $77,710. More importantly, on the daily chart, Bitcoin has broken through a downward trendline, suggesting that the previous downtrend may have reversed. If this judgment is correct, the probability of further upward movement increases. If it can break through $80,000, it might continue to challenge $85,000. Support levels are at $70,000, $65,500, and $60,000.

Overall, the battle between bulls and bears around the 98.0 level for the dollar is intense, affecting other currency pairs’ directions. But from the euro, AUD, precious metals, to cryptocurrencies, there are signs of upward movement. Of course, these are based on technical analysis, and actual trading should also consider your risk tolerance.