Forex Weekly Forecast with Technical Analysis on 21st April'24

Quick Market Overview:

The surprising surge in U.S. retail sales has rattled expectations, hinting that the Federal Reserve might pause its rate cuts, given the boost in consumer spending. This shift has ripple effects across various financial instruments, potentially influencing everything from the dollar's strength to tech-heavy indices like NASDAQ.

This Week's Profit-Packed Trading Pairs insights:


Nikkhil’s analysis reveals a bullish outlook on the EUR/GBP pair, noting a consistent pattern of bullish flags and divergences across multiple timeframes. This suggests a continuation of the bullish trend, with opportunities to 'buy on the dips' as the pair progresses through technical patterns indicating upward momentum.

EUR/GBP Technical analysis on 22 April'24


Contrasting the strength seen in EUR/GBP, the GBPNZD pair shows signs of bearishness, with technical indicators like bearish divergences and selling pressures suggesting a downward trajectory. Short-term pullbacks could provide selling opportunities, with detailed technical strategies outlined for those looking to capitalise on these movements.

GBP/NZD Technical analysis on 22 April'24


With the U.S. dollar's strength inversely impacting stock indices, NASDAQ faces downward pressures, confirmed by bearish divergences and resistance levels that suggest a continuation of the current bearish trend. You should consider strategies focused on selling on rallies, with specific targets and invalidation levels discussed.

NASDAQ Technical analysis on 22 April'24

XAGUSD (Silver)

Silver shows a bullish monthly and weekly pattern, with higher highs and higher lows indicating strong upward momentum. The analysis points to potential price targets and a detailed look at silver's technical setups, suggesting a bullish stance with long-term growth toward significant resistance levels.

XAG/USD Technical analysis on 22 April'24

WTI (Crude Oil)

In the energy sector, crude oil remains bullish, with a pattern of higher highs and lows signalling strong buying opportunities. Detailed analysis of support and resistance levels, alongside Fibonacci extensions, guides you on potential entry and exit points, aiming for profitability in upward trends.

Crude Oil Technical analysis on 22 April'24

As we look ahead, the interconnectedness of market movements and economic indicators suggests a week filled with opportunities. From currency pairs to commodities and indices, understanding the underlying technical patterns can significantly enhance trading strategies.

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Stay tuned for real-time updates, and as always, trade wisely and profitably!

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