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The US Dollar remains the strongest currency, fueled by expectations of a strong US economy. Meanwhile, the Euro and Pound face headwinds, and Gold experiences a correction. The future direction of Oil prices is uncertain.

 

EUR/USD

  • Short-term downtrend likely to continue.
  • Resistance: 1.0693 – 1.0685 (Sell)
  • Support: 1.0657, 1.0650 (Potential Buy)
  • US GDP data release is a key factor.

 

GBP/USD

  • Short-term downtrend likely to continue, especially with strong US data.
  • Resistance: 1.2335 (Sell)
  • Support: 1.2368 (Buy)
  • MACD indicator to be considered for entry/exit points.

 

USD/JPY

  • Trading within a side channel.
  • Breakout above 155.28 (Buy) or below 154.25 (Sell) needed for a clear direction.
  • US economic data will influence the pair.
  • Watch for intervention from the Bank of Japan.

 

Gold (XAUUSD)

  • Short-term downtrend in progress.
  • Resistance: 2377 – 2370, 2350 – 2345 (Sell)
  • Support: April 15th low (Sell target)
  • Potential for further decline if US core PCE data shows lower inflation.
  • Some analysts predict a rebound in the long term.

 

Oil (USCrude)

  • Short-term uptrend possible.
  • Support: 82.06 – 81.57 (Buy)
  • Resistance: April 12th high (Buy) or Target (88.61 – 87.95)
  • Watch for a break below support for a trend reversal.

 

Bitcoin (BTCUSD)

  • Expected to fall further in the short-term.
  • Sell target: 60400.00

 

Ethereum (ETHUSD)

  • Expected to decline in the short-term.
  • Sell target: 2907.00

 

Ripple (XRPUSD)

  • Expected to decline in the short-term.
  • Potential drop to 0.461 in the near future.

 

Additional Factors to Consider:

  • Release of US Core Personal Consumption Expenditures Price Index on April 26.
  • Geopolitical tensions and their impact on risk appetite.
  • Statements from central banks regarding monetary policy.
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Categories: Market News

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