Market Analysis
GOLD
Gold prices hit a new high and appear poised to continue their bullish trend in the coming days. Although momentum slowed slightly yesterday compared to prior sessions, both the MACD and RSI indicate growing bullish volume and momentum supporting the uptrend. We remain bullish on gold and will monitor for further buying opportunities.
SILVER
Silver showed stronger price action than gold in the previous session, likely due to gold being perceived as too expensive, prompting investors to pivot toward silver. The appreciation in silver is expected to continue alongside gold’s rally. Both MACD and RSI reflect steady bullish volume and momentum, with prices nearing a key breakout level at 33.5028. A decisive break above this point would signal additional upside potential.
DXY (U.S. Dollar Index)
The Dollar continues to show underlying weakness, albeit with more sideways price action compared to the previous session. Both MACD and RSI suggest sustained bearish pressure. We maintain a bearish outlook on the Dollar and will look for sell-side opportunities in dollar-related pairs.
GBP/USD
The Pound maintains bullish momentum, although price is consolidating. Both MACD and RSI support ongoing buying interest. Further upside is anticipated as long as the structure holds. We remain bullish and will watch for re-entry opportunities on breakouts or retracements.
AUD/USD
The Aussie remains range-bound, and we hold a neutral stance until a clear directional break occurs. No significant changes are noted at present.
NZD/USD
The Kiwi remains pressured below key resistance, yet MACD and RSI indicate growing bullish momentum. This suggests a higher likelihood of bullish continuation rather than reversal. However, confirmation via a clear structural break is needed. We are cautiously optimistic, awaiting confirmation before entering new positions.
EUR/USD
The Euro has returned to consolidation within a defined range. After a failed sell-off attempt, resistance at the upper boundary is significant. MACD and RSI signal a healthy bullish trend. A breakout above this ceiling would confirm further upside potential. Until then, we maintain a cautious bullish bias.
USD/JPY
The Yen continues its bearish trajectory with increasing selling pressure. MACD and RSI both confirm ongoing downside momentum. Further selling opportunities are anticipated in upcoming sessions.
USD/CHF
The Franc continues to strengthen against the Dollar but is consolidating within a narrow boundary. Despite muted price advances, bearish momentum remains intact, supported by an overbought RSI and rising MACD. We anticipate additional downside for USD/CHF and will watch for short setups unless price action indicates otherwise.
USD/CAD
The Canadian Dollar is strengthening against the Dollar, maintaining a bearish continuation despite a recent bounce from the 1.38402 level. MACD and RSI support ongoing selling pressure. We expect the bearish trend to continue and will monitor for further short opportunities.
COT Reports Analysis
- AUD – WEAK (5/5)
- GBP – STRONG (3/5)
- CAD – WEAK (5/5)
- EUR – STRONG (5/5)
- JPY – STRONG (3/5)
- CHF – WEAK (5/5)
- USD – MIXED
- NZD – WEAK (4/5)
- GOLD – STRONG (5/5)
- SILVER – STRONG (4/5)
Final Thoughts
Gold and silver continue their bullish runs amid a weakening U.S. Dollar. The Dollar’s sideways to bearish momentum opens opportunities in forex pairs such as GBP/USD and NZD/USD, while commodity currencies like AUD/USD remain range-bound. Traders should watch key resistance levels closely and await clear breakouts to confirm next directional moves. Monitoring volatility and cross-currency correlations will be essential for managing risk effectively in this evolving market. Visit: https://worldquestfx.com/