Technical Analysis Post

Daily Market Report: Expert Technical & Fundamental Insights – 22.04.2025

| 22 April, 2025 at 10:00 GMT

EURUSD

EURUSD slightly fell today & traded at $1.1497 after two consecutive days of positive closing, still at the highest level since November 2021. What happened in the last month made EUR preferred currency over USD & became safer currency after the US President Trump showed his intention to fire the Fed Chair Powell from his position saying that he wants the Fed to cut the  rates immediately. Such a political intervention draws negative outlook about the future of USD index that collapsed by -6% in a month. EZ consumer confidence is due later today. 

Technical correction would be highly probable, targeting $1.1490 then $1.1455, however trend index remained bullish which means that the correction (if happens) could be short-lived. 

USDJPY

For the third day in row, USDJPY traded weaker & fell to 140.50 today as the pressure on USD continued. In the meantime, US bond yields improved again above 4.4% on 10Y bonds, but the major issue was USD itself which faces considerable lack of confidence. Next week’s BoJ policy meeting will be important. BoJ may lower the economic growth forecasts . 

Price action is still showing fragile correction, which means that the re-positioning is likely to be short-lived. Beware of the risky exposure with risky leverage. We think that the Strength of the Yen is not yet finished. 

GBPUSD

GBPUSD was little changed today, trading at $1.3385. As global trade tensions increased, BoE could support the economy by lowering the rates anytime soon. Inflation in the UK slowed to 2.6% last month which means less pressure on the central bank. 

As clarified yesterday, trend remained bullish. $1.3360 is the daily target for short-sellers amid higher bullish bets than bearish ones. 1H RSI is trading neutral for now. 

GOLD

Who is still doubtful about the future of gold? With more than 6% increase in a week, gold kept advancing to new record-highs, trading at $3456 per ounce today after hitting $3495 early in the morning, what a performance! Gold gained more than 31% this year, outperforming other metals including silver, copper & platinum. Demand for tangible assets is likely to remain robust due to weaker USD, Trump’s trade chaos & central banks’ dovish stance ahead. 

1H RSI is still overbought and the correction to $3430 is possible. Price action is not yet supporting solid correction as the daily trend index remained strongly bullish. 

SILVER

Unlike gold, silver fell today & traded at $32.49 per ounce. Traders & investors are still focusing on gold’s rally even if gold/silver ratio shows that silver is still undervalued. The main reason for not matching the performance of gold is that the demand for silver could be disrupted by weaker manufacturing growth in 2025 & more trade’s obstacles including higher tariffs & production costs. 

Mixed sentiments persisted amid neutral RSI indicator. $32.10 is support. $32.90 is the next resistance for day traders. 

Oil-WTI

Crude oil prices traded higher today by more than 1%, WTI $63.40PB, Brent $67.22PB, both crude oil benchmarks remained down by -10% in 2025 and more than -20% YoY. More oil supply by OPEC+ is likely to keep oil prices under pressure. Politically speaking, the collapse of Iran- US nuclear talks ( if happens) may result in higher geopolitical risks & higher oil prices as well. Keep an eye on these developments.  

Monthly forecast poll showed bullish bets on WTI & expected an  increase to $66.38PB. Price action supports now further advance but slow to $64.35PB. $62 is support for day traders. 

DAX40

Amid low volatility, DAX was little changed today, trading  at 21227 in the first trading session after Easter break. EZ stock indexes will remain highly correlated to the US counterparts, US stock futures traded higher today. Keep an eye on Germany Central Bank ( Bundesbank) monthly report & EZ consumer confidence later today. 

21090  & 20500 are support levels, 21500 will be the next target  ( resistance). 

NASDAQ

US stock futures traded higher today after huge losses on Monday, Dow Jones lost -0.48%, SPX fell by -2.3% and Nasdaq tumbled by more than -2.5% with all SPX500 sectors ending lower, Nvidia -4.5%, Tesla -5.8% and Amazon -3.1%. President Trump kept the pressure on the Fed Chair Powell, whether to cut the rates immediately or resign from his position. Markets will remain highly obsessed by the political developments between China & the US. Tesla’s quarterly results with earnings report will be released later today. 

Price action is heading higher today ( correction) & targeting 18100 then 18350. 17600 is support ( could happen again). Volatility remained high. 

BITCOIN

Major cryptocurrencies traded higher today, led by Eth 3%, BTC 1.2% to $88585, Cardano 2.5% & Ripple 1%. Crypto fear & greed index improved today to 38 from 34 yesterday, still at fear territory. Chart shows that the higher the greed index, the higher BTC price is likely to be. In the meantime, ECB said that the US President Trump’s pro-crypto policies could trigger instability without stronger EU safeguards. We think that ECB may start immediately working on considerable change in crypto regulations, which is going to be positive factor. 

$86800 is support, however markets’ sentiments still support further advance to $90600.