Market Analysis
GOLD
Gold prices have dropped below the previous higher low zone, testing key support levels. The MACD is showing increased selling volume, while the RSI confirms bearish momentum. There is potential for further downside as markets await critical U.S. economic data releases. However, the overall price action remains bullish, meaning that any further dips could present buying opportunities in the long run.
SILVER
Silver prices are currently consolidating, awaiting a clearer directional movement. The MACD indicates increased selling volume, while the RSI is reflecting growing bearish momentum. This suggests further selling pressure in the near term. However, price action remains within a critical range, so traders should wait for additional confirmation before committing to trades.
DXY (Dollar Index)
The U.S. dollar remains in consolidation, awaiting a clearer market direction from upcoming economic data. At present, the MACD is showing increasing buying volume, but the lack of strong price movement suggests that the bullish momentum is weak. The RSI is relatively neutral, making it difficult to determine a clear trend. Until a definitive breakout occurs, patience is required to confirm the next movement.
GBP/USD
The British pound is experiencing reduced market movement, lacking strong momentum in either direction. The MACD is showing an increase in selling volume, with the RSI reflecting this bearish momentum. Despite this, previous price action saw the pound breaking below key structures, suggesting potential for further downside. However, the overall trend remains bullish, so traders should watch for possible reversals if support holds.
AUD/USD
The Australian dollar is facing increasing selling pressure, with both the MACD and RSI confirming bearish momentum. If the current support level fails, the dollar strength will resume, pushing the Aussie further downward. As fundamental factors continue to favor the U.S. dollar, traders should remain cautious and await further developments before taking positions.
NZD/USD
The New Zealand dollar remains in a similar position to the Aussie, but it is still holding above critical support. The MACD and RSI indicate increasing bearish momentum, suggesting that prices could dip further before resuming an upward trend. The EMA200 is providing support, meaning that as long as it holds, the Kiwi may continue consolidating. A clear break below would indicate a stronger bearish shift.
EUR/USD
The euro remains trapped between multiple market levels, making price action unclear. As a result, there are no significant changes from last week’s analysis. Traders should wait for a decisive breakout before making any strong directional calls.
USD/JPY
The Japanese yen has reached new lows but is moving downward at a slow, steady pace. This controlled drop suggests that sellers remain in control. However, there is also anticipation surrounding upcoming U.S. data releases, which could impact the market significantly. The MACD remains elevated despite falling prices, indicating a potential divergence. The RSI is also holding at higher levels, showing sustained selling pressure. Given these indicators, further downside movement is expected, and traders should look for more selling opportunities.
USD/CHF
The Swiss franc remains below key levels but is consolidating ahead of new economic releases. Price action suggests that the market is waiting for a catalyst before making a decisive move. The MACD is increasing in volume, while the RSI is reflecting stronger momentum, but neither is showing a clear direction. The EMA200 could serve as a temporary resistance before another potential drop. Until a definitive breakout occurs, traders should remain cautious.
USD/CAD
The Canadian dollar remains in a large consolidation zone, influenced by the ongoing U.S.-Canada trade conflict. The MACD is showing increased volume but is about to cross lower, while the RSI suggests continued buying pressure. Since bullish indicators are currently stronger than bearish ones, the market appears to have a higher chance of moving upward. However, confirmation of a breakout is needed before taking long positions.
COT Reports Analysis
- AUD – WEAK (5/5)
- GBP – STRONG (5/5)
- CAD – WEAK (5/5)
- EUR – WEAK (1/5)
- JPY – STRONG (5/5)
- CHF – WEAK (3/5)
- USD – STRONG (4/5)
- NZD – WEAK (5/5)
- GOLD – STRONG (3/5)
- SILVER – STRONG (4/5)
Conclusion
The market remains highly reactive to upcoming U.S. economic data releases, with most major currency pairs consolidating in anticipation. Gold and silver prices are showing short-term bearish movements, but their overall trends remain bullish. The U.S. dollar is awaiting confirmation of direction, with signs of potential strengthening in the near term.
Forex traders should employ expert forex techniques to navigate the uncertainty, while commodity traders should prepare for potential buying opportunities in gold and silver after the market stabilizes. Advanced trading systems and proper risk management will be essential in the coming days.