The tug-of-war around the $98.0 mark for the US dollar is still ongoing, and all major assets are looking for direction. I recently took a look at how different markets have been moving, and I feel there are some signals worth paying attention to.

Bitcoin here is especially interesting. It closed on Thursday near $76,000, but it broke through the daily downtrend line, which suggests the downtrend may be ready to reverse. If it can hold this level, the next move should be to challenge $80,000 and even $85,000. On the other hand, once it breaks below $70,000, everything will need to be reassessed. The latest data shows BTC around $77,710, and it looks like the rebound momentum remains quite strong.

For me, the euro is the most worth watching. On Thursday, EUR/USD briefly surged to 1.1823, and while it later pulled back, it still remains in an uptrend overall. The key is whether the euro can hold the 1.1800 level—if it can stabilize there, reaching 1.2000 or even 1.2200 is not out of the question. But note that the euro has been rising for eight straight days, so it may need a short-term adjustment. To truly turn this uptrend around, it would need to break down below 1.1700 effectively.

This week, AUD/USD hit a nearly four-year high, surging straight to 0.7197—just a little bit away from breaking 0.7200. This is a very clear signal: a new round of uptrend has already started. If 0.7200 is broken, it could move on to challenge 0.7300 and even 0.7500. This uptrend looks like it may continue until around mid-May.

As for gold, it rose 0.43% on Thursday and successfully moved above $4,800, breaking through that psychological level. After rebounding from the late-March low of $4,098, the gold price has been gradually strengthening. If it can hold above $4,800, the next target is the $5,000 round-number level, and it could even push toward $5,200.

Overall, the dollar is facing a choice of direction at the 98.0 level, but judging from the performance of these assets, the euro, AUD, and gold are all showing strength, and Bitcoin is also looking to break out. Future economic data and central bank policy will be key, so it’s worth continuing to monitor.