What to Watch Today

GOLD

Gold remains range-bound, with no significant movement breaking the current structure. Price behaved as expected, bouncing off key support levels. However, a potential resolution in the Ukraine-Russia conflict could dampen golds bullish momentum, introducing uncertainty into its trajectory. Any major shift will depend on upcoming developments, so we await further price action.

Technical indicators show mixed signals—the MACD is reflecting an increase in bullish momentum, while the RSI is stabilizing, indicating that buying activity is evening out. Price structure remains intact, and a breakout from the current zones will determine the next move.

SILVER

Silver has pushed higher, continuing its bullish move. The MACD remains in an uptrend, and the RSI has recovered from oversold conditions, signaling that buying pressure is still present. However, the possibility of consolidation remains, as silver often takes cues from golds movement.

If gold breaks higher, silver could follow with significant gains. Until then, we expect limited movement unless a catalyst emerges.

DXY

The dollar is experiencing slight losses after a period of consolidation, allowing gold to find better footing. As tensions in Ukraine ease, the euro and other risk-sensitive currencies—such as the Australian and New Zealand dollars—are seeing renewed strength.

The RSI is overbought, suggesting increased selling pressure, while the MACD is showing signs of a possible continuation lower. Given the overall trend structure, further dollar weakness remains a strong possibility.

GBP/USD

The British pound is pushing higher, supported by optimism surrounding geopolitical developments. The MACD is positioning for a potential short-term correction before resuming its bullish trend, while the RSI is signaling strengthening upside momentum.

With price testing key resistance, the likelihood of further gains remains high. However, any geopolitical shifts could quickly change this outlook.

AUD/USD

The Australian dollar continues to hold its ground. If peace talks advance, global currency markets could stabilize further. The MACD is showing sideways movement, while the RSI is holding at oversold levels, indicating that the recent dip in price may be temporary.

The bullish structure remains intact, and we continue to look for opportunities to the upside, while staying cautious of a potential reversal if the U.S. dollar gains strength.

NZD/USD

The New Zealand dollar is consolidating but has managed to stay above key support levels. It continues to show marginally stronger performance than the Aussie dollar. The MACD remains neutral, while the RSI suggests growing buying pressure despite the lack of major price movement.

Given this setup, the Kiwi could see further upside if conditions align.

EUR/USD

The euro is gaining momentum, fueled by hopes of diplomatic progress in Ukraine. The MACD is near a bearish crossover, but the RSI has bounced from oversold conditions, pointing to a continued upward move.

For now, the euro remains in a bullish structure, though we will wait for confirmation before making any strong calls.

USD/JPY

The yen remains in a consolidation phase, moving within a broader trend. The probability of a failed rally is higher than a sustained rise. The MACD is showing increased buying pressure, but the RSI remains flat, indicating that traders are waiting for more clarity.

We remain on standby for a clearer signal or an update from the Bank of Japan.

USD/CHF

The Swiss franc is gradually strengthening, with investors eyeing potential conflict resolutions. Both the MACD and RSI confirm bullish momentum, though the RSI is approaching overbought levels.

A rejection at the EMA200 could trigger a pullback before any continuation lower. We remain neutral until a clearer movement emerges.

USD/CAD

The Canadian dollar continues to trade within a tight range. Neither the MACD nor the RSI indicate a strong directional shift, reinforcing the current consolidation phase.

We remain on watch for a breakout before looking for new opportunities in this pair.