Gold
Gold experienced aggressive movement, reacting to a surge in market volatility. However, after multiple failed attempts to break the highs, selling momentum increased, aligning with our expectations. The MACD shows growing bearish volume, while the RSI indicates increasing bearish pressure. We anticipate further selling and potential downward movement in gold prices.
Silver
Similarly, Silver is seeing increased selling, particularly following gold’s pullback from its record high. The MACD reflects growing selling volume, and the RSI confirms bearish momentum. The overall market structure has weakened, with prices breaking below key support levels. This aligns with expectations for a more bearish outlook in silver markets.
DXY (US Dollar Index)
The US Dollar remains in consolidation with a bias toward further downside. Fundamentals still favor the Dollar, but traders are awaiting upcoming inflation data to gauge the FED’s next move. Another factor to consider is whether Trump will implement tariffs in March, which could influence Dollar strength. Both the MACD and RSI indicate continued selling momentum. While fundamentals suggest potential buying in the long term, the near-term outlook remains bearish.
GBP/USD
The Pound continues to consolidate despite weakness in the Dollar Index. The MACD shows increasing buying pressure, but the RSI signals overbought conditions, which suggests potential downside. We maintain a bearish outlook for GBP/USD in the near term, expecting the Dollar’s strength to overpower the Pound’s momentum.
AUD/USD
The Australian Dollar is experiencing increased selling pressure, with the RSI reaching overbought levels, signaling the potential for further downside. Although the MACD has yet to fully confirm this, price action has shifted downward, trading below the EMA200, indicating a bearish trend. This aligns with our expectations for Dollar strength to continue driving AUD/USD lower.
NZD/USD
The Kiwi remains supported by the EMA200 but has yet to test the previous higher swing low. The MACD has crossed back up, indicating a potential bullish setup. However, the RSI has consistently signaled overbought conditions, suggesting that a pullback may be in the cards. We expect further downside in the near term if US Dollar bullishness continues.
EUR/USD
The Euro has seen increased buying momentum, but the RSI is again approaching overbought levels, signaling a possible turnaround. Consolidation may continue until we see clearer price action. Despite short-term optimism, we expect the Euro to underperform relative to the Dollar, driven by overall strength in the USD.
USD/JPY
The Yen continues to weaken, though it still has further downside potential. The MACD and RSI confirm this bearish trend. Some analysts suggest the FED may delay rate cuts until late 2025, while others believe that rate hikes may persist due to inflationary pressures. With potential US-Russia collaboration on the horizon, Trump’s economic policies could accelerate the market’s current direction. We will continue to monitor developments closely, especially as USD/JPY shows signs of further weakness.
USD/CHF
The Swiss Franc has been seeing increased selling pressure due to Dollar weakness. Despite this, it has surprisingly outperformed other currencies in recent sessions. Both the MACD and RSI indicate growing bearish momentum, and we expect further downside in the coming days for USD/CHF.
USD/CAD
The Canadian Dollar strengthened following Trump’s tariff discussions, with market participants adjusting their positions. The MACD and RSI indicate increased buying volume, and we remain bullish on USD/CAD, expecting further upside momentum in the coming sessions.
COT Reports Analysis
| Currency | Strength Rating (Out of 5) |
| AUD | WEAK (3/5) |
| GBP | WEAK (1/5) |
| CAD | WEAK (4/5) |
| EUR | WEAK (3/5) |
| JPY | STRONG (5/5) |
| CHF | WEAK (5/5) |
| USD | STRONG (5/5) |
| NZD | WEAK (5/5) |
| GOLD | STRONG (4/5) |
| SILVER | STRONG (5/5) |
Conclusion: Forex Market Insights and Key Takeaways
- Gold and Silver are facing bearish pressure, with the MACD and RSI signaling further downside in the short term.
- USD strength remains a dominant force across multiple currency pairs, while the Euro and Pound continue to face challenges.
- Trading platform features and advanced forex strategies should focus on short-term forex gains with continued volatility in mind.
- USD/CAD remains bullish, particularly as Trump’s tariff policies start to take effect.
This blog integrates key technical indicators like MACD, RSI, and price action forecasting to provide insights into the current market situation, with a focus on major and minor currency pairs and commodities.
