DBG Markets: Market Report for Apr 08, 2025

Market Overview

GOLD - GOLD prices have gone deep—down into previous historical high records. However, this move has yet to determine the overall gravity of the situation. In the immediate term, we see some profit-taking to consolidate the losses. However, in the long term, we expect further bullish movement with GOLD as overly inflationary measures are being placed on the dollar. The MACD is showing an increase in selling volume, and the RSI is also showing an increase in bearish momentum. We can expect more selling in the coming days but wait to see how the markets progress.

SILVER - SILVER prices are still finding more downward momentum. But the most recent price prints are showing consolidation, and the MACD is finding upward volume. The RSI is also consolidated at the moment. We wait to see how prices will continue but expect to see more selling in the coming days. There is a chance that prices will test the EMA200 before a continuation.

DXY - The Dollar is currently testing the EMA200. Depending on how prices react to this level, we may see increased selling or buying. However, the current price direction still looks like a sell continuation, as overall price action remains bearish. Although, the MACD and the RSI are reflecting an increase in bullish volume and momentum. Thus, we hold off on making a call on this chart and allow more price action to take place so we can see a clearer direction. The dollar is an important variable to every market direction at the moment—but the question is, for how long？

GBPUSD - The Pound is currently showing potential for more selling to continue, but the 1.27256 level is acting as effective support. The MACD shows an increase in selling volume, while the RSI is hitting high and shows potential for selling continuation. This suggests a higher chance of further bearish movement. However, we maintain a level of conservatism, as theres also a possibility that prices will test the EMA200 before continuing lower.

AUDUSD - The Aussie dollar is currently consolidating near the lows while the MACD finds increasing bullish volume—although it still highlights selling volume, as the bullish increase fails to be reflected in prices. The RSI is also triggering overbought calls, showing increased bearish momentum. We anticipate a test on the EMA200 before a continuation sell, but we are looking for more selling opportunities.

NZDUSD - The Kiwi is continuing to consolidate. The MACD, like the Aussie dollar, is showing more bullish volume despite slower price movement. We expect further selling in the coming days, as shown by both the RSI and the MACD, alongside overall price action respecting a bearish structure.

EURUSD - The Euro is gaining. This is in line with expectations following the previous price consolidation. The possibility wasnt called for nothing. Prices are currently testing the EMA200 and are showing a strong chance of continuing bullish. However, the RSI is calling for overbought prices. The MACD is currently showing increased selling momentum. But the recent switches in the dots indicate potential for consolidation before continuation. The massive sell-off was also picked up by the MACD, and there is potential for it to continue, as indicated by the RSI. However, overall price action remains bullish. Thus, we continue to look for bullish opportunities.

USDJPY - The Yen is currently showing increased bullish potential, with both the MACD and the RSI displaying stronger bullish momentum and volume. Prices are currently testing the EMA200, and depending on the reaction, we may see more buying. Although, overall price action is still bearish. Thus, we remain bearish until we see a clearer shift.

USDCHF - The Franc is consolidating. The MACD is showing increased bearish volume, as reflected by the rise in buying volume despite prices remaining within the consolidation zone. The RSI is respecting consolidation barriers, indicating potential for prices to remain in range until a clear break of structure occurs. There is potential for prices to test the EMA200 before a continuation lower.

USDCAD - The CAD is currently experiencing increased selling after testing the EMA200 and failing to break structure after multiple attempts. The MACD is showing increased selling volume, while the RSI has yet to fully reflect the bearish move. However, we remain focused on selling, as overall price action is very bearish.