Bitcoin hovers around $94,000: Investors await clear signals from the market

Cryptocurrency

Summary:

On April 29, 2025, the price of Bitcoin (BTC/USD) was trading around $93,914, down slightly from an intraday high of $95,533 and a low of $92,953...

BUY BTC-USDT

Close Time

CLOSED

94007.6

Entry Price

95500.0

93000.0

89016.5 -11.2 -0.01%

1007.5

Pips

Profit

93000.0

95015.1

Exit Price

94007.6

Entry Price

95500.0

Market Overview

Bitcoin is currently trading in a narrow range, reflecting investor hesitation ahead of key economic events. The possibility that the Fed will keep interest rates higher for an extended period is putting pressure on risk assets like cryptocurrencies. In addition, inflows from Bitcoin ETFs are also slowing, reflecting institutional investor caution.

Market psychology

The Fear Greed Index for the cryptocurrency market is at “Neutral,” indicating a balance between fear and expectation. Trading volume is down slightly, reflecting investors’ anticipation of important monetary policy decisions and economic data.

Technical analysis

Bitcoin hovers around $94,000: Investors await clear signals from the market_1

Bollinger Bands (20,0,2): Price is hovering near the middle band of the Bollinger Bands, indicating that the market is in a consolidation state. Price moving above or below the upper/lower band may signal a new trend.

Ichimoku Kinko Hyo (9,26,52): The price is near the Kumo cloud, indicating an unclear trend. A price move above the cloud would be a positive signal, while a fall below the cloud could signal a downtrend.

Stochastic Oscillator (5,3,3): The Stochastic indicator is in the neutral zone, indicating that the market has no clear overbought or oversold signals.

Trading Recommendations

Entry (First): $94,000 – $94,200

Take Profit: $95,500

Stop Loss: $93,000

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

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Adam

Commodity

Summary:

On April 29, 2025, the price of gold (XAU/USD) is trading around $3,349/oz after bouncing from the technical support zone at $3,306. The market is closely watching the upcoming US economic data, including the employment report and GDP, amid concerns about rising inflation due to the Trump administration's new tariff policy. The trend of gold in the coming time may continue to be influenced by technical factors and economic news.

BUY XAUUSD

Close Time

CLOSED

3344.29

Entry Price

3370.00

3295.00

4328.67 +29.28 +0.68%

492.9

Pips

Loss

3295.00

3294.54

Exit Price

3344.29

Entry Price

3370.00

Overview

Gold prices are currently hovering around $3,340/oz, after recovering from a mid-week low of $3,306, which coincides with the rising trend line and the 50-day EMA.

The market is under pressure from the Trump administration's new tariff policies, including a 10% tariff on all imports and higher tariffs on goods from 57 countries, including China, with effective tariffs of up to 54%.

These policies have raised concerns about inflation and slowing economic growth, especially as the IMF has downgraded its global growth forecast to 2.8% for 2025.

Market psychology

Investor sentiment is currently dominated by concerns about inflation and slowing economic growth. The University of Michigan's consumer sentiment index fell sharply to 52.2 in April, its lowest level since 1990. At the same time, long-term inflation expectations rose to 3.3%, the highest level since June 2008. These factors are boosting demand for safe-haven assets such as gold.

Technical analysis

Gold recovers slightly after correction: Will the rally continue as US economic data is due?_1

Bollinger Bands (20,0,2): Gold prices are currently hovering near the middle band of the Bollinger Bands, indicating that the market is in a consolidation state. Price moving above or below the upper/lower band could signal a new trend.

Ichimoku Kinko Hyo (9,26,52): Price is above the Kumo cloud, indicating that the uptrend is still maintained. However, the gap between price and the cloud is narrowing, need to monitor closely to determine the possibility of a reversal.

Stochastic Oscillator (5,3,3): The Stochastic indicator is in the neutral zone, indicating that the market has no clear overbought or oversold signals.

Trading Recommendations

Recommended strategy:

Entry (First): $3,345 – $3,355

Take Profit: $3,370

Stop Loss: $3,295

A break above the $3,370 resistance level could open the door for further gains towards the $3,400-$3,420 zone. Conversely, a drop below the $3,295 support level could confirm a bearish bias.

Risk Warnings and Disclaimers

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Adam

Forex

Summary:

On April 29, 2025, the AUD/USD exchange rate fell sharply to 0.6420, under pressure from expectations that the Reserve Bank of Australia (RBA) will cut interest rates in May. At the same time, the weakening of the USD and global trade tensions are affecting the market....

SELL AUDUSD

Close Time

CLOSED

0.64000

Entry Price

0.62500

0.64600

0.66530 +0.00010 +0.02%

4.6

Pips

Profit

0.62500

0.63954

Exit Price

0.64000

Entry Price

0.64600

Overview

The AUD/USD pair is currently trading around 0.6450, down sharply from a high of 0.6941 in February 2025. The weakening USD and expectations of a rate cut by the RBA are putting downward pressure on the pair.

Market psychology

Current market sentiment reflects concerns about the global economic outlook and the divergence in monetary policy between the US and Australia. The Fear Greed Index shows increased concern, with a high fear ratio. Investors are looking for safe haven assets, which could support the USD in the short term and put pressure on the AUD.

Technical analysis

AUD/USD Falls Sharply: Will the Downtrend Continue as RBA Prepares to Cut Rates?_1

Bollinger Bands (20,0,2): Price is trading near the lower line of the Bollinger Band, indicating a potential continuation of the downtrend if it breaks the 0.6300 support level.

Ichimoku indicator (9,26,52): Price has fallen below the Ichimoku cloud, indicating a strong downtrend.

Stochastic Oscillator (5,3,3): This indicator is in the oversold zone, indicating a possible short-term reversal, but not strong enough to confirm an uptrend.

Support and resistance levels:

Support: 0.6300 (next support level).

Resistance: 0.6350 (nearest resistance level).

Trading Recommendations

Entry: Open a sell order when price confirms breaking the 0.64 support level.

Take Profit: 0.6250 (next support level).

Stop Loss: 0.6460 (nearest resistance level).

Risk Warnings and Disclaimers

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Adam

Forex

Summary:

The USD/CAD pair continues its strong downtrend, trading around 1.3855. The weakening of the USD and expectations of a rate cut by the Bank of Canada (BoC) are putting downward pressure on the pair.

SELL USDCAD

Close Time

CLOSED

1.38200

Entry Price

1.37500

1.38600

1.37621 -0.00079 -0.06%

40.0

Pips

Loss

1.37500

1.38603

Exit Price

1.38200

Entry Price

1.38600

Overview

The USD/CAD pair is currently trading around 1.3855, down sharply from a high of 1.4543 in January 2025. The weakening USD and expectations of a BoC rate cut are putting downward pressure on the pair. USD/CAD could continue its downtrend if it remains below the 1.3800 support level without a clear reversal signal.

Market psychology

Current market sentiment reflects concerns about the global economic outlook and the divergence in monetary policy between the US and Canada. Investors are looking for safe-haven assets, which could support the CAD in the short term.

Technical analysis

USD/CAD continues its strong downtrend_1

Bollinger Bands (20,0,2): Price is trading near the lower line of the Bollinger Band, indicating a potential continuation of the downtrend if it breaks the support level of 1.3800.

Ichimoku indicator (9,26,52): Price has fallen below the Ichimoku cloud, indicating a strong downtrend.

Stochastic Oscillator (5,3,3): This indicator is in the oversold zone, indicating a possible short-term reversal, but not strong enough to confirm an uptrend.

Support and resistance levels:

Support: 1.3800 (next support level).

Resistance: 1.3855 (nearest resistance level).

Trading Recommendations

Entry: Open a sell order when price confirms a break of the support level 1.3820.

Take Profit: 1.3750 (next support level).

Stop Loss: 1.3860 (nearest resistance level)

Risk Warnings and Disclaimers

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Eva Chen

Forex

Economic

Summary:

EURGBP has retreated further from its two-year highs, with the divergence in policy expectations between the Bank of England and the European Central Bank (ECB) potentially emerging as a headwind for the currency pair.

SELL EURGBP

Close Time

CLOSED

0.85073

Entry Price

0.82670

0.86650

0.87752 -0.00037 -0.04%

39.9

Pips

Profit

0.82670

0.84674

Exit Price

0.85073

Entry Price

0.86650

Fundamentals

Alfred Kammer, the International Monetary Fund's (IMF) Director for Europe, indicated that Germany's increased infrastructure spending will provide some support for Europe's growth outlook, but it is insufficient to offset the damage caused by US tariffs.

In an interview with CNBC, Kammer emphasized that "tariffs and trade tensions are weighing on the outlook rather than providing any positive fiscal impact."

He noted that the IMF has "significantly downgraded" its growth forecasts for advanced economies in Europe over the next two years and has made even steeper downward adjustments to its growth projections for emerging economies in the eurozone. The IMF has revised its growth forecasts for the eurozone downward by 0.2% for both 2025 and 2026, now expecting growth rates of 0.8% and 1.2%, respectively.

Kammer also offered clear policy advice to the ECB. Acknowledging the success of deflationary measures, he stated that the ECB has "room to cut rates by another 25 basis points in the summer." Thereafter, rates should be maintained around 2%, barring any significant shocks.

Francois Villeroy de Galhau, a member of the ECB's Governing Council from France, expressed confidence today that neither France nor Europe is facing an imminent recession risk, while inflation is expected to continue declining.

In an interview with RTL radio, Villeroy reiterated that despite global uncertainties, the ECB still retains "the leeway for gradual rate cuts."

Villeroy also issued a strong warning about the risks posed by US trade policies. He criticized the protectionist stance of the US government, stating that it "not only harms the US economy but, unfortunately, also the world economy."

He emphasized that protectionism ultimately leads to "slower growth and higher inflation."

Market Observations: The divergence in policy expectations between the Bank of England and the ECB may further weigh on the euro.

According to data released on Monday, UK retail sales unexpectedly rose by 0.4% in March, with the previous month's increase revised downward to 0.7%. Combined with market expectations that the Bank of England's rate-cutting pace will be slower than that of other major central banks, including the ECB, this should support the pound and cap any upside for EURGBP.

Technical Analysis

During the day, the trend of EURGBP currently remains neutral-biased downward, following the breach of the 0.8518 support level.

On the upside, if bulls break above the minor resistance at 0.8622, it will first trigger a retest of the 0.8737 level. A sustained hold above this resistance would reignite the broader uptrend that began at 0.8221.

However, a sustained break below 0.8518 would push EURGBP further down towards the 55-day moving average, currently located at 0.8450.

Trading Recommendations

Trading Direction: Sell

Entry Price: 0.8530

Target Price: 0.8267

Stop Loss: 0.8665

Valid Until: May 13, 2025, 23:55:00

Support: 0.8465/0.8379/0.8313

Resistance: 0.8547/0.8565/0.8584

Risk Warnings and Disclaimers

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Eva Chen

Economic

Forex

Summary:

The UK retail sales increased by 0.4% MoM in March and by 1.6% in the first quarter. Amid trade tensions, the Bank of England is expected to avoid a significant rate cut.

BUY GBPUSD

Close Time

CLOSED

1.33479

Entry Price

1.36000

1.28300

1.34002 +0.00295 +0.22%

68.3

Pips

Loss

1.28300

1.32796

Exit Price

1.33479

Entry Price

1.36000

Fundamentals

GBPUSD rebounded during the European session on Monday, reclaiming the key level of 1.3350. The pause in the US dollar's rally, coupled with a modest improvement in market risk sentiment, facilitated the recovery of GBPUSD.

Data released by the UK Office for National Statistics on Monday revealed that retail sales in March rose by 0.4% MoM, exceeding market expectations of a 0.3% decline. The sales performance was stronger than expected, which was primarily attributed to favorable weather conditions that bolstered sales for clothing and outdoor goods retailers. However, this growth was partially offset by a weak performance from supermarkets.

On a quarterly basis, the overall performance of retail sales paints an encouraging picture of consumer resilience. Retail sales for the first quarter increased by 1.6% QoQ and 1.7% YoY. These figures suggest that despite broader economic uncertainties, UK consumers remain relatively active.

However, household confidence was severely dented in April due to trade tensions and a series of annual price increases, including council tax and energy bills. As a result, the long-awaited recovery in consumer spending may prove to be short-lived.

The Bank of England's Monetary Policy Committee is scheduled to meet next month to determine the next steps. Amid signs of an economic slowdown, investors widely expect a 25-basis-point rate cut. The Bank of England is likely to remain cautious.

In contrast, investors have been pricing in the possibility of the Federal Reserve restarting its rate-cutting cycle in June, with at least three rate cuts anticipated by the end of this year. These concerns, coupled with worries about the economic impact of US trade policies, have deterred dollar bulls from making new bets and provided some support for GBPUSD. As a result, the pound is likely to continue to challenge the key resistance level of 1.3434, which it has not yet breached (the euro has already broken through its key barrier, reaching a three-year high).

Technical Analysis

GBPUSD rose during the European session on Monday, reversing the downward trend observed over the previous three trading days.

After pulling back from the short-term high of 1.3422, GBPUSD still has the potential to decline further. However, the downside should be limited by the 38.2% Fibonacci retracement level of 1.2917, derived from the range between 1.2099 and 1.3422.

On the upside, if GBPUSD can sustainably break above 1.3354, it will resume its broader upward trend.

Trading Recommendations

Trading Direction: Long

Entry Price: 1.3318

Target Price: 1.3600

Stop Loss: 1.2830

Valid Until: May 13, 2025, 23:55:00

Support: 1.3234/1.3203/1.3032

Resistance: 1.3423/1.3434/1.3519

Risk Warnings and Disclaimers

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Alan

Forex

Summary:

Polls indicate that the Liberal Party is highly likely to win the Canadian federal election. The risk of trade friction between Canada and the United States may intensify, posing a potential recession risk for the Canadian economy.

BUY USDCAD

Close Time

CLOSED

1.38758

Entry Price

1.41400

1.37700

1.37621 -0.00079 -0.06%

105.8

Pips

Loss

1.37700

Exit Price

1.38758

Entry Price

1.41400

Fundamentals

The market's focus has shifted to the outcome of the Canadian federal election, with the new government's stance on trade negotiations expected to influence the outlook for the Canadian dollar. Polls show that the Liberal Party is leading with nearly 43% support, compared to the Conservative Party's 39%. The market generally anticipates that the Liberal Party's compromising stance on U.S. tariff policies may continue, further escalating trade friction risks between Canada and the United States. If the Liberal Party remains in power, the 25% tariff imposed by the U.S. on Canadian automobiles could lead to an 18% reduction in exports, resulting in a loss of approximately CAD 12 billion.

Moreover, it is worth noting that a recent forecast report by the Canadian Federation of Independent Business (CFIB) indicates a weak economic growth in Canada in the first quarter of this year, with a significant contraction expected in the second quarter. The report estimates that Canada's first-quarter GDP will grow at an annualized rate of 0.8%, while the second quarter is projected to contract at an annualized rate of 5.6%.

Overall, if the Liberal Party wins the Canadian federal election today, the Canadian economy is likely to face a recession risk, and the Canadian dollar will come under depreciation pressure.

Technical Analysis

On the weekly chart, after a sustained decline, USDCAD halted its downward trend last week, closing a bullish Doji candlestick near the support level of 1.3880. This suggests strong support at this level, and USDCAD is likely to rebound upward in the short term.

Looking at the moving average system, the MA60 and MA144 of USDCAD remain in a bullish alignment, indicating that the long-term upward trend of USDCAD has not been broken.

For short-term trading, it is recommended that traders adopt a strategy of buying on dips, using last week's low of 1.3780 as a stop-loss level. If a new low is reached, traders should consider closing their positions to limit losses.