Despite the massive and prolonged upward price swing, bulls have so far failed to update the structural high, preserving the overall bearish character of the chart.

The asset is in the final stage of its downtrend as the market approaches a major support zone around 2,750.

Although the overall downward trend reversal was confirmed last week, the market has chosen a consolidation scenario within a triangle to accumulate momentum before the primary move.

Gold found solid support in the $4,040 zone, which could enable bulls to make another attempt at challenging the descending trendline near $4,100.

The sharp escalation of hostilities in Iran and the Strait of Hormuz has bolstered the US dollar against the euro.

Bitcoin (BTC/USD) trades at 62,770 this Monday morning, closely tracking a risk-averse macro environment as the escalating military hostilities between the US and Iran eclipse native cryptocurrency indicators.

Brent Crude opened the week with a violent 4% gap up, trading at $78.87 this Monday morning following a sharp intensification of Middle Eastern military hostilities over the weekend.

GBP/USD remains in a short-term uptrend but is nearing a major psychological resistance level that could limit further gains.

Bitcoin is extending its recovery, but the rally is approaching a key resistance zone where bullish momentum could begin to fade.

Natural gas remains under heavy selling pressure, with bearish momentum keeping the focus on lower support levels despite the potential for short-term technical rebounds.

USD/JPY remains under bearish pressure after confirming its downside scenario, with the focus shifting to lower support levels following a brief corrective rebound.

EUR/USD is trading within a well-defined 50-pip range as market participants avoid taking aggressive positions ahead of the weekend.

Gold remains under pressure near $4,115 as stronger US economic data and hawkish Federal Reserve expectations outweigh safe-haven demand.

Brent crude is holding near $76 as markets weigh severe supply risks in the Strait of Hormuz against growing optimism over US-Iran diplomacy.

USD/JPY has tested the supply area near 162,700, marking the likely end of the recent correction. Bears are now poised to push the pair toward the next major downside target.