Markets in Motion: USD Weakens, Bitcoin Surges, EUR/GBP Breaks Out & Oil Drops

US Dollar Index (DXY)

The US Dollar Index (DXY) continues its downward trend, breaking through key support levels at 106.00 and 105.50. The inability to hold above these levels signals a shift in momentum towards further downside. The next major support area lies around 103.88, with additional downside targets at 103.07 and 102.71 if bearish pressure persists. A potential short-term rebound is possible, but the structure remains weak unless the index reclaims the 105.50 level. The broader downtrend remains intact, reinforced by a declining trendline acting as resistance. Unless we see a sustained move above 107.00, the bearish outlook prevails.

BTC/USD

Bitcoin has rebounded strongly from the $82,000 support zone, reclaiming $90,000 after breaking through $89,400 resistance. This breakout is significant, as it suggests bullish continuation and an attempt to reclaim higher resistance zones. If BTC sustains above $90,000, the next key resistance stands around $92,000–$94,000. Failure to hold above $89,400 could trigger another pullback, with support levels at $86,700 and $81,700. Volume indicates increasing buying pressure, which strengthens the case for further upside. However, a retest of the breakout zone should not be ruled out before another leg higher.

EUR/GBP

EUR/GBP has broken out of its short-term descending trendline, signaling a shift in momentum towards the upside. This breakout confirms the end of the recent bearish pressure and suggests a potential bullish continuation towards 0.8360 and 0.8380 resistance levels. The price needs to hold above the previous breakout zone near 0.8320–0.8330 to maintain the bullish outlook. If sellers regain control, the first key support lies at 0.8280. The breakout is accompanied by increased volume, further reinforcing the bullish case. A sustained close above 0.8360 would validate a stronger trend reversal.

Brent Crude OIL

Brent crude oil has been trading in a horizontal range between $70 and $84, but the recent breakdown below the $70 support raises concerns of further downside. If Brent fails to reclaim this level, the next downside targets are $68 and $65. A bullish reaction from this zone could lead to a retest of $71.30, a key short-term resistance level that needs to be reclaimed for any meaningful recovery. If buyers step in and hold above $71.30, a reversal towards $74–$76 becomes possible. However, continued weakness in oil prices may signal further bearish pressure in commodities.