DBG Markets: Market Report for Apr 24, 2025

Market Analysis

GOLD GOLD prices are currently gaining bullish momentum after bouncing off the EMA200. This swing low triggered oversold levels on the RSI, while the MACD is also turning upward, signaling growing bullish volume. The market is expected to continue trending upward in the coming days, though we remain cautious and will monitor how price action unfolds.

SILVER SILVER has broken higher and is showing increased potential for a bullish continuation, as anticipated. Both the MACD and RSI are rising, supporting further upside. We continue to watch for buying opportunities as momentum builds.

DXY The Dollar is currently testing the EMA200, following a day of consolidation. Although there was a significant push above the EMA200, the move wasnt convincing enough to confirm a bullish shift. The RSI is nearing oversold territory, which may offer temporary support, but our outlook remains bearish for now. Any further gains in the dollar are likely to depend on fundamental developments, especially ongoing concerns about the U.S.–China trade war. While recent news has helped ease fears, we await clear progress before committing to a bullish stance.

GBPUSD The Pound has bounced off the EMA200, but both the MACD and RSI indicate rising selling pressure. This suggests a likely continuation of consolidation. If prices break below the EMA200, the momentum would shift decisively bearish, prompting a change in bias. For now, we expect some buying to resume post-bounce, but acknowledge the potential for prices to stagnate and remain range-bound.

AUDUSD The Aussie Dollar has entered consolidation, with the MACD showing limited volume. The RSI is signaling oversold levels and a potential rebound off the EMA200, pointing to weakening bearish momentum. We expect further buying in the near term as price regains strength.

NZDUSD The Kiwi is also consolidating, which is consistent with signals from both the MACD and RSI. Despite the pause, price structure remains bullish, and we retain our previous positive outlook on the NZD.

EURUSD The Euro is currently testing the EMA200 and the lower boundary of its consolidation zone. A further drop from current levels would likely shift our outlook back to bearish. The MACD is showing increased selling volume, and the RSI confirms growing bearish pressure. While we remain cautiously bullish, we await a clear directional break before reaffirming this stance.

USDJPY The Yen surpassed the EMA200 but failed to break above 143.442, which remains a key resistance level. Both the MACD and RSI show increased bullish momentum, suggesting potential for further upside. However, until price decisively breaks this structure, we hold off on declaring a confirmed trend reversal.

USDCHF The Franc is currently gaining strength, with both the MACD and RSI showing rising volume and momentum. While recent easing in global tensions has temporarily weakened safe-haven demand, the overall price action has shifted bullish. Prices are now testing the upper boundary of the range. We look for buying opportunities as upward momentum builds.

USDCAD The CAD is currently testing the EMA200, and were seeing signs of continued consolidation in both the MACD and RSI. As there is no clear directional bias yet, we maintain our previous outlook and wait for a more decisive breakout before adjusting our positioning.