Forex Weekly Forecast with Technical Analysis on April 20 to 24'26

Welcome to this week’s Moneytize forecast. We’re stepping into another environment where fundamentals are driving uncertainty across the board. Conflicting geopolitical developments and shifting expectations around global trade routes are keeping markets reactive rather than directional. As Nikkhil emphasizes, when fundamentals create noise, technicals become the anchor. This week is all about key levels and how price behaves around them. Nikkhil has mapped out exactly where clarity could emerge, and what needs to happen before committing to a move.

DXY (Dollar Index)

The dollar has spent the past few weeks compressing into a tight range, reflecting the broader indecision in the market. Structurally, the higher timeframe still leans bearish with lower highs and lower lows, but in the short term, price is showing signs of a potential rebound. After a false breakdown below support, DXY snapped back sharply, forming a V-shaped recovery supported by bullish divergence. This kind of move often signals exhaustion from sellers, at least temporarily. Nikkhil is watching the 97.91 level closely. This zone has become a key “magnet level,” where both bullish and bearish structures overlap. If price can break above and successfully retest this level, it opens the door for a push toward 98.80 and potentially higher toward 100. However, without that confirmation, the range remains intact. This is a reaction zone not a prediction zone.

DXY Technical Analysis on April 20 to 24'26
https://youtu.be/Mybn57duCOc?si=7v-yVU4P2gehnOZL


NASDAQ (US100)

NASDAQ continues to trade within a broader bullish structure, but recent fundamental developments have introduced short-term pressure. After printing new highs, price has started pulling back, with weekend data already showing weakness. Despite this, the key level at 26,300 remains intact, and that’s what matters most right now. Nikkhil highlights this zone as a critical support reinforced across multiple timeframes. If it holds, the broader bullish trend remains valid, and we could see continuation toward 27,500. However, a clean break below 26,300 shifts focus toward deeper support between 25,600 and 25,828. Even then, the expectation is for buyers to step back in, unless price decisively breaks below 25,600, which would invalidate the bullish structure. This is a classic “hold or fold” level. The reaction here will define the week. This level could dictate the next major leg.

NASDAQ Technical Analysis on April 20 to 24'26
https://youtu.be/Mybn57duCOc?si=7v-yVU4P2gehnOZL


Crude Oil

Crude oil has shifted firmly into bearish momentum after failing to sustain its previous highs. The breakdown below 91.41 confirms that sellers are in control for now, and price is actively pushing toward lower extension targets. The structure suggests that this move is still developing, not completed. Nikkhil is tracking a key demand zone between $75 and $80. This is where multiple extension levels converge, creating a high-probability area for buyers to step in. Until price reaches that zone, any upside move is likely to be a retracement rather than a reversal. If price bounces early, it’s expected to face resistance again near 89 - 91.

There’s also growing evidence of bullish divergence forming, but as always, it must complete before it can be trusted. The next move into this zone could be decisive.

Crude Oil Technical Analysis on April 20 to 24'26
https://youtu.be/Mybn57duCOc?si=7v-yVU4P2gehnOZL


Silver (XAGUSD)

Silver is currently in a corrective bullish phase within a broader bearish structure. Price has been climbing steadily, forming higher highs and higher lows, but the move lacks strong momentum, and that raises caution. Nikkhil notes that bearish divergence is likely forming, which could trigger a pullback. The immediate support sits around 77 - 78, with deeper support at 74 - 75. As long as price holds above 74 - 75, the bullish continuation toward 88 - 89 remains valid. However, a break below that level, especially with a daily close, would invalidate the bullish outlook and open the door for a much deeper move toward 61. This is a “cautiously bullish” setup. The structure is intact, but fragile. Don’t miss the key invalidation level.

XAG/USD Technical Analysis on April 20 to 24'26
https://youtu.be/Mybn57duCOc?si=7v-yVU4P2gehnOZL


Gold (XAUUSD)

Gold continues to move higher slowly, and without conviction. The structure shows a gradual climb, likely part of a broader corrective phase rather than a strong trend. Price has repeatedly tested the 4,850 - 4,855 resistance zone, and while a breakout attempt occurred, it failed to hold, raising doubts about bullish strength. Nikkhil is watching 4,759 as the key support. A break below this level opens the path toward 4,658, which becomes the next major level to hold. As long as 4658 holds, the expectation remains for gold to push toward the psychological 5,000 level. However, even if it reaches 5,000, Nikkhil anticipates a potential rejection and the start of a larger move down. If 4,658 breaks, the bullish scenario is invalidated entirely. This is a market at a tipping point…

XAU/USD Technical Analysis on April 20 to 24'26
https://youtu.be/Mybn57duCOc?si=7v-yVU4P2gehnOZL


This week isn’t short on opportunity, it’s just a little harder to read.

When the picture isn’t clear, it pays to slow down, stay patient, and let the levels do the talking.

Price is approaching key zones, and how it reacts there will shape everything that follows.

Take a few minutes to watch the full breakdown and step into the week with a clear, confident plan before the crowd catches on.

Click here to watch the full Moneytize Forecast

We’ll talk soon

Team Moneytize