Gold short-term analysis – 29 April 2022
Gold has bounced to a critical resistance level in a downtrend.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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Gold has bounced to a critical resistance level in a downtrend.
Until fundamentals change on the ground, the dollar has the perfect storm of support.
Bitcoin's low volatility may be the proverbial "calm before the storm."
Google parent, Alphabet, is taking a hit as forecast growth rates moderate.
Last Thursday, Fed Chair Powell hinted at a 50 bps hike for May. He also endorsed an acceleration in the raising of rates. Moreover, the market is preparing for these to be front-loaded over the next few meetings. The ECB is also growing more hawkish, and EU CPI came in at 7.2%. Twitter has agreed to Elon Musk's offer of $54.20 per share in a takeover, and this week will…
Bitcoin has rallied over the last 24 hours. However, it has hit a critical level and looks to be reacting off of it.
The DAX bounce may have run its course as the index reacts off of crucial resistance.
Gold declines, and the dollar finds a bid as market participants prepare for Fed front-loading.
The market is waiting on an announcement after the Twitter board, and Elon Musk met over the weekend. Twitter is due to report its Q1 results on Thursday.
Cryptocurrencies have aligned themselves with the risk side of the market. More aggressive monetary policy is putting them under pressure.
As yields rise, pressure mounts on global indices, including the GER30.
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