Hi. I am updating my monthly assessment of the major trends on Forex. The overall trend can be described as "appeasement," which means Usd will be losing ground to other currencies in April.
I was correct about an up move by EurUsd the previous time. It has not yet reached 1.12, which was the resistance for the year 2024. So I believe EurUsd will be trying to reach this target in April. The violet line of Dixie should be going further down. An appreciation of Eur (and other currencies vs Usd) is pushing the Dixie down. If EurUsd and Dixie cross around 1.12 - 1.15, this will be the starting point of a big uptrend for EurUsd for the year 2025.
A different picture is offered by UsdCad. When Dixie grew in the last half-year, UsdCad followed it. Now Dixie is falling, but UsdCad is not following. This may be a good sign of a horizontal channel inside 1.42 - 1.45. Thus, I believe UsdCad should fall to 1.42 in April, and then start going up again to 1.45. Politically, this can be explained in the following way. Canada is smaller than Europe, so while Eur may be appreciating in the face of a possible trade war with the US, Cad will be fluctuating up and down.
Finally, Gold is a bewilderment. Many refuse to trade Gold now because its uptrend has become an unpredictable nuisance. It is hard to tell when it will start falling. I forecasted for March that it would rise for a few weeks and then start falling. Well, it has risen somewhat in March… but it has not started falling. My forecast for April: it should roll back!!
