Market Analysis
GOLD
Gold continues to demonstrate its strength, with the MACD cross low failing to impact price action and instead confirming an increase in bullish volume. The RSI remains stable and is not signaling overbought conditions, indicating potential for further bullish movement in the coming days.
Key factors driving gold’s rise include geopolitical uncertainty due to Middle East tensions, particularly Israel’s airstrikes in Gaza, alongside potential rate cuts by the Federal Reserve. These factors have contributed to gold’s record rally, and a continuation of this bullish trend is widely expected.
We anticipate buying opportunities when the market retraces or tests lower levels before continuing its upward movement.
SILVER
Silver remains in a consolidation phase, with prices holding steady despite gold’s gains. The MACD suggests that silver’s momentum will eventually pick up, especially if gold continues to gain traction. The RSI is showing a neutral stance, supporting the view that silver will follow gold’s bullish trend once consolidation breaks.
We maintain a cautious stance but will look for buying opportunities as the market aligns with our expectations.
DXY (US Dollar Index)
The U.S. dollar is experiencing prolonged consolidation and has faced a sharp price drop after the Federal Reserve’s indications of potential rate cuts later in the year. The RSI consistently signals overbought conditions, suggesting that further selling is likely.
The EMA200 serves as a strong resistance level, and the MACD shows an increasing likelihood of a bearish move. We expect further downside pressure for the dollar, pending Chair Powell’s comments on the economy and rate decisions.
GBPUSD
The British pound faces growing selling pressure, although it remains in a consolidation phase. The 1.29966 level continues to act as a strong resistance. While further upside is possible, the outlook depends on the dollar’s strength in the coming days.
We await a decisive breakout before committing to a clear directional bias for GBPUSD.
AUDUSD
The Australian dollar has seen a bullish continuation, in line with our expectations, especially following hawkish signals from the Reserve Bank of Australia (RBA). The MACD confirms upward movement, while the RSI indicates consolidation rather than a reversal.
We maintain a bullish outlook for AUDUSD and continue to look for buying opportunities in the near future.
NZDUSD
The Kiwi is experiencing a similar bullish trend to the Aussie dollar, driven by Chinese economic growth and global risk sentiment. The MACD supports the bullish trend, while the RSI signals oversold conditions, suggesting further upside.
We expect continued bullish movement in NZDUSD in the coming days.
EURUSD
The Euro is maintaining bullish momentum, despite ongoing consolidation. It is close to breaking the previous high, and market sentiment remains cautiously optimistic ahead of Fed policy updates.
The MACD shows low but steady volume growth, and the RSI suggests the bullish trend remains intact. We anticipate buying opportunities but remain cautious of potential shifts in sentiment.
USDJPY
The Japanese yen has shown increased selling pressure following a breakout in recent trading. However, both the MACD and RSI indicate consolidation, and support levels remain intact.
We await confirmation of a bearish trend following this breakout. The Bank of Japan’s policy decision will play a key role in shaping future yen movements.
USDCHF
The Swiss franc has continued to show selling pressure, but price action remains constrained below the EMA200. The MACD and RSI confirm the continuation of bearish momentum, signaling that the franc may continue to decline.
We expect further downside movement for USDCHF, but will monitor for potential reversals.
USDCAD
The Canadian dollar continues to remain in consolidation without significant movement. The MACD and RSI show increased bearish momentum, but a clearer breakout is required before making a directional call.
We will reassess the CAD’s outlook as price action develops.
COT Reports Analysis
- AUD – WEAK (5/5)
- GBP – STRONG (5/5)
- CAD – WEAK (5/5)
- EUR – STRONG (5/5)
- JPY – STRONG (5/5)
- CHF – WEAK (5/5)
- USD – STRONG (4/5)
- NZD – WEAK (5/5)
- GOLD – STRONG (3/5)
- SILVER – STRONG (4/5)
Final Thoughts
Gold’s continued rise is supported by geopolitical tensions, tariff concerns, and Fed rate cut speculation. Meanwhile, the U.S. dollar remains under pressure, and we expect continued bullish momentum in gold and silver.
As market conditions evolve, traders should watch for Fed updates and geopolitical developments that may shape market direction. Stay alert for buying opportunities in the near future.