DBG Markets: Market Report for Mar 7, 2025

MARKET ANALYSIS

GOLD

Gold prices remain consolidated throughout the day, showing insignificant movements from this point. It may be positioning itself for gains after U.S. payrolls are reported later on. But before that, there is a chance for prices to take this lower for a premium price to buy upward. We may find a test on the previous higher swing low before a continuation upward. The U.S. payrolls will allow a clearer picture of where the markets will go moving forward.

SILVER

Silver prices are currently consolidated at a high point in price, appreciating before gold prices had a chance to. This reflects the overall bias of the markets, that they can see where gold prices are heading after the NFP news release later. The MACD is calling exaggerated bearish levels despite the prices finding a bullish move, showing increased buying strength. The RSI is also calling for oversold despite the swing being a higher low, showing increased momentum for a buy. Overall price action has long shifted bullish. Thus, we can identify this market as a buying market. We look for more opportunities to buy.

DXY

The dollar is still drooping low but took a breather with yesterdays session. It is priming itself for a potential large drop with news later. However, with the current market movement, there is a chance for it to rise for a bit to test relevant structures before dropping further. Although, the MACD is failing to see any improvement with the bullish volume. The RSI is also calling overbought after a muted rise in price. This tells us to only look for selling opportunities in the coming days.

GBPUSD

The pound is currently seeing increased selling potential with markets currently consolidating as we called yesterday. The MACD is seeing increased bullish volume after calling strong bearish movement with minimal price action. The RSI is also doing the same thing, keeping under despite the prices maintaining up. Although, there will be little movement and a potential for prices to drop before the massive rise later on. We wait for more confirmations on this market trend and see how it will continue in the coming days.

AUDUSD

The Aussie dollar is seeing increased selling momentum after the test on 0.63407. We can see the markets finding increased chances for a drop before a continuation high, a test on the EMA200 and the previous zone. The MACD reflects the increase in the selling volume. However, the RSI does call for overbought levels, seeing increased potential for markets to buy from here. We wait to see how the markets will continue moving forward, especially when the news releases.

NZDUSD

Kiwi prices are seeing increased chances for it to buy further. The MACD is currently seeing potential for the selling to continue to test the EMA200. Similar to the Aussie dollar, the RSI is also calling for oversold levels, potentially indicating a potential turnover from the point. But, we also expect the drop to happen before the actual rise from later. We wait for more confirmations on this.

EURUSD

Euro prices are going through a lot of relevant structures right now, and as you can see, prices are reacting to each one of them. However, we can tell that the consolidation is giving it a chance to drop a bit before the massive expected rise from the dollars weakness. The MACD is seeing increased selling but fails to reflect the actual movement with price action, which tells us that there is an increase in the bullish volume. The RSI is also maintaining the lows, showing strong momentum bullish.

USDJPY

The yen has finally started to pick up on strength after yesterday, crashing under the lowest point of the consolidation. The yen may be supported by prospects of more BOJ rate increases. “”Another solid Shunto outcome this year will raise the chances of more Bank of Japan interest rate hikes,“” CBA's Kristina Clifton says, citing news that Japan's biggest labor union group said unions were demanding stronger wages growth this year. “”We expect 25bp hikes in July and December,“” the senior economist and senior currency strategist says in a note.

The MACD continues going under but shows a slight cross up, showing potential to normalize the sell moving forward. The RSI is also showing promising growth for the market momentum, allowing us to see increased selling movement in the coming days.

USDCHF

Franc strength also started to pick up after the markets found increased selling momentum from yesterday. The MACD is seeing increased selling volume alongside the RSI reflecting the same thing for market momentum. We look for more selling opportunities with this market.

USDCAD

The CAD finds increased selling momentum after markets hit low and crashed under the previous swing low. We can also see the MACD crossing low from a short rise, and the RSI maintaining healthy levels of a low. This will be further highlighted later after the news release. Until then, we wait for more market movement to clarify our market direction.