DBG Markets: Market Report for May 22, 2025

Market Analysis

GOLD Gold prices hit a new high and appear poised to continue their bullish trend in the coming days. However, momentum slowed slightly yesterday compared to prior sessions. Despite this, the MACD and RSI both show continued growth in bullish volume and momentum, supporting the overall uptrend. We remain bullish on gold and will continue to monitor for further buying opportunities.

SILVER Silver saw stronger price action than gold in the previous session, likely due to gold becoming perceived as too expensive, prompting investors to turn to silver as an alternative. The appreciation in silver is expected to continue in tandem with gold's rally. The MACD and RSI reflect steady bullish volume and momentum, and prices are now approaching a key breakout level at 33.5028. A decisive break above this level would signal further upside potential.

DXY The dollar continued to show underlying weakness, although price action was more sideways compared to the prior session. The MACD and RSI both indicate a continuation of bearish pressure. We maintain a bearish outlook and will continue to look for sell-side opportunities in dollar-related pairs.

GBPUSD The Pound continues its bullish momentum, although price has entered a period of consolidation. Both the MACD and RSI support the continuation of buying, and we expect to see further upside potential as long as the structure holds. We remain bullish and will watch for re-entry opportunities upon breakouts or retracements.

AUDUSD The Aussie remains in consolidation, and we maintain a neutral stance until a clear directional break occurs. No significant changes are noted at this stage.

NZDUSD The Kiwi remains pressured below a key resistance, but both the MACD and RSI reflect growing bullish momentum. This increases the probability of a bullish continuation rather than a reversal. However, a clear structural break is required to confirm direction. We remain cautiously optimistic and await confirmation before initiating new positions.

EURUSD Euro prices have returned to consolidation within a defined range. While the prior attempt at a sell-off failed, the pair now faces resistance at the upper boundary. The MACD and RSI indicate a healthy bullish trend, and we will continue to monitor for a breakout above this ceiling, which would confirm further upside potential. Until then, we maintain a cautious bullish bias.

USDJPY The Yen continues to show bearish movement, with increasing selling pressure. Both the MACD and RSI reflect continued downside momentum, confirming the bearish trend. We will look for further selling opportunities in the sessions ahead.

USDCHF The Franc continues to gain strength against the dollar, although price is consolidating within a boundary. The broader bearish momentum remains intact, supported by an overbought RSI and a rising MACD, despite muted price advances. These indicators suggest further downside for USD/CHF, and we will continue to look for short setups unless price action suggests otherwise.

USDCAD The CAD continues to strengthen against the dollar, with price action showing a bearish continuation despite a recent bounce from the 1.38402 level. The MACD and RSI support continued selling pressure, and we expect the bearish trend to persist. We will continue to monitor for more short-side opportunities.