DBG Markets: Market Report for Apr 16, 2025

Market Analysis

GOLD - GOLD prices are experiencing strong bullish momentum, as anticipated. This surge occurred during the early Asian session, with traders and analysts buying at a premium. The MACD confirms the move with increased bullish volume, while the RSI is approaching overbought levels, suggesting the possibility of a brief pullback before a continuation higher. GOLD has now printed new historic highs at $3,275.30/oz, surpassing expectations from many analysts for the year. We maintain our outlook of a target at $3,800/oz by year-end, subject to how geopolitical and economic dynamics evolve.

SIVER - SILVER remains relatively muted despite GOLDs breakout, reinforcing the view that GOLD still has room to climb. We expect SILVER to catch up once GOLD rallies further. The RSI signals a cool-down following overbought conditions, and although the MACD is showing increased bullish volume, it continues to lag behind price action, indicating a disconnect between momentum and actual price movement. Patience is key here as we await clearer direction.

DXY - The US Dollar continues to face downward pressure. The MACD shows a divergence with increased selling volume despite printing positives, reflecting underlying bearish sentiment. Meanwhile, the RSI suggests the market is oversold, supporting the idea of continued consolidation at these lows before another leg down.

GBPUSD - The Pound is seeing a resurgence of bullish movement, supported by both the MACD and RSI, which show strengthening bullish volume and momentum. We anticipate continued upside in the coming sessions, particularly as the dollar weakens.

AUDUSD - The Aussie Dollar also reflects strong bullish volume and momentum, confirmed by the MACD and RSI. However, there is potential for a pullback near the EMA200 before any continuation higher. Still, we maintain a bullish bias and look for further opportunities.

NZDUSD - The Kiwi mirrors the Aussie in performance, showing increasing bullish momentum and volume. The MACD and RSI remain supportive, but we exercise caution given the possibility of a short-term retracement back to the EMA200.

EURUSD - The Euro continues to consolidate, with the RSI fluctuating between overbought and oversold levels, reflecting market indecision. Meanwhile, the MACD is showing strengthening bullish volume despite price failing to follow through. The EMA200 is approaching, and a test of this level is likely before a potential bullish breakout. We remain cautiously optimistic, awaiting a clear structure break.

USDJPY - The Yen remains in consolidation, as traders continue shifting toward GOLD as a hedge amid rising concerns over global trade and economic slowdown—particularly driven by Trumps tariff strategies. Both the MACD and RSI lack significant directional signals, indicating that range-bound trading may persist in the near term.

USDCHF - The Franc is also stuck in consolidation, with neither the MACD nor RSI presenting strong directional momentum. We anticipate further selling once broader market participation returns. At the moment, most of the movement is concentrated in the Pound, Aussie, and Kiwi, while the Franc remains relatively flat.

USDCAD - The CAD is showing short-term bullish momentum, pushing toward the EMA200, as seen in both the MACD and RSI. However, the overall trend remains bearish, and we continue to favor sell opportunities unless price structure breaks convincingly to the upside.