Market Analysis
GOLD
Gold prices continue their ascent, reaching new highs as critical trade tariff discussions approach. While the MACD shows increased selling volume, the RSI maintains strong bullish momentum, signaling continued buying interest. We expect further upside in the coming days, driven by ongoing market uncertainty and risk-off sentiment. Gold remains a strong safe-haven asset amid rising global tensions.
SILVER
Silver prices have bounced off 34.0252, reinforcing the potential for a bullish continuation. The MACD remains in consolidation, but it is showing volume growth for both bullish and bearish movement. The RSI indicates increased bullish momentum after calling the structure test oversold. Given that overall price action remains bullish, we anticipate further upside in the coming days.
DXY (Dollar Index)
The Dollar is experiencing increased selling pressure after breaking below the EMA200 and losing its bullish structure, shifting the overall trend to the downside. Concerns over upcoming tariff plans are contributing to growing bearish sentiment. The MACD reflects increased selling volume, while the RSI shows increased bearish momentum. Despite signaling oversold conditions, the RSI is failing to fully reflect the true strength of the move. We expect further downside unless a buying shift occurs.
GBP/USD
The Pound is gaining bullish volume, with both the MACD and RSI confirming increased momentum. However, consolidation persists as traders and analysts await Trump’s tariff announcement on April 2. While we anticipate further buying in the coming days, we also recognize the potential for additional volatility surrounding the event, keeping a cautious stance until a clearer trend emerges.
AUD/USD
The Aussie Dollar remains in extended consolidation as markets await clarity on trade policies. Both the MACD and RSI are also consolidating, indicating a lack of directional momentum. We will continue to monitor price action and wait for further developments before making any calls on this pair.
NZD/USD
The Kiwi is seeing growing selling momentum, with the RSI reflecting increased bearish pressure. The MACD suggests a potential rise in selling volume. We expect prices to decline toward 0.56859 to test the structure before determining the next move. Further price action is needed for confirmation.
EUR/USD
The Euro has shifted to bullish movement, with both the MACD and RSI reflecting increased volume and momentum. Breaking above the EMA200 confirms this trend shift, and we now anticipate continued buying pressure in the upcoming trading hours unless another reversal occurs.
USD/JPY
The Yen is experiencing increased selling momentum and volume, as shown in both the RSI and MACD. While an overall trend shift has yet to be confirmed, bearish strength is growing. The Yen’s strength is fueled by broader risk-off sentiment, particularly after reports that Trump has urged his advisors to take a more aggressive stance on tariffs in the coming days.
USD/CHF
The Swiss franc has strengthened after breaking out of a smaller consolidation zone. Both the MACD and RSI indicate increased bearish momentum and volume, supporting expectations of further selling pressure. The market’s shift toward risk-off sentiment is benefiting both the Franc and the Yen, as investors seek safe-haven assets.
USD/CAD
The Canadian dollar remains in a wait-and-see phase, with traders holding off until the April 2 tariff decision. We will refrain from making any directional calls until a clearer picture emerges. Market participants are closely watching the tariff decision, as it could provide more clarity on CAD’s direction in the coming days.
COT Reports Analysis
- AUD – WEAK (4/5)
- GBP – STRONG (5/5)
- CAD – WEAK (4/5)
- EUR – STRONG (5/5)
- JPY – STRONG (4/5)
- CHF – WEAK (4/5)
- USD – STRONG (3/5)
- NZD – WEAK (4/5)
- GOLD – STRONG (4/5)
- SILVER – STRONG (4/5)
Conclusion
Gold continues to rise, supported by geopolitical risks and trade tensions, while silver mirrors this upward movement. The U.S. dollar is under selling pressure, especially with concerns over tariffs and the overall economic outlook.
The Pound, Aussie, and Kiwi show mixed bullish momentum, while the Euro is shifting to the upside.As always, traders should monitor market developments closely, especially the U.S. tariff decision and its potential impact on currencies and commodities.