DBG Markets: Market Report for Apr 29, 2025

Market Analysis

GOLD GOLD has remained in consolidation, with both the RSI and the MACD respecting this bias. We refrain from calling for a specific change in the market, but we do look for more buying opportunities.

SILVER SILVER prices are currently finding increased bullish movement as prices get supported by the EMA200. The MACD is showing increased bullish movement, and the RSI is consolidating. We wait for a clearer movement but anticipate more buying to come.

DXY The Dollar falls ahead of U.S. data due to uncertainty about how it will come out. This weeks data train is set to lead the expectations of traders in the coming months, as we discussed in our analysis yesterday. Thus, we can only wait to see how this will play out. A little sour mood will spoil the Dollar for more selling. The MACD and the RSI are showing increased growth for the selling continuation as prices fail to go beyond the EMA200, indicating that the overall bearish movement is being respected.

GBPUSD The Pound found increased bullish movement, as we expected, and the MACD and the RSI are reflecting bullish momentum growth. We expect more buying in the coming days and anticipate further buying to continue, unless the economic condition of the U.S. turns out better than expected.

AUDUSD While the Aussie dollar does favor the bullish momentum, as we expected, we will refrain from changing our analysis and calling just yet, until we see a clearer break of structure in price.

NZDUSD The Kiwi is showing continued consolidation. We will wait for a clearer break of structure, as it is currently being squeezed between the EMA200 and 0.59796.

EURUSD The Euro is currently finding increased growth in bullish momentum as prices get supported by the EMA200. The MACD and the RSI are reflecting this growth in buying bias. However, even if prices are gaining strength in the market, we will refrain from overly selling the Dollar, as this might turn around depending on how the markets continue.

USDJPY The Yen retracted from the highs after a lack of volume to buy and shifted back to selling. The MACD and the RSI are reflecting bearish growth for more selling in the market. We expect prices to continue lower in the coming days, but we do wait to see how this will progress.

USDCHF The Franc is currently finding increased selling momentum, and the MACD and the RSI are reflecting this. While the Franc did show a clean shift to buy, there wasnt enough momentum and strength to continue that bullish move. Thus, we can only look for more selling. However, it has yet to shift fully back to selling momentum, as prices remain inside the consolidation zone. This may be affected by the sudden burst of sellers entering the Dollar, as they evacuate from it due to data closing in this week. We suggest staying alert and aware of how prices will progress.

USDCAD The CAD consistently failed to go beyond the EMA200 and remained bearish. Currently, we are seeing growth from both bearish momentum and volume, as shown by the RSI and the MACD. We remain on the lookout for more selling opportunities but do practice caution with how prices will move.