Forex and financial risk appetite worldwide have been gradually improving this past week, with Friday’s stronger-than-anticipated US Core PCE Price Index data boosting stock markets.

Forex, Metals, Crypto & Economic Fundamentals Analysis

Speculation regarding the future of the US economy and interest rates based on the most recent significant economic data releases. Which dominates the news about the world’s financial markets. Despite Friday’s somewhat better-than-expected non-farm payroll numbers, in terms of (historical trends). It may still be weaker but the past trend still shows that Fed may raise interest rates by 25pb, once more. Keeping the US dollar steady in the near term.

Some analysts believe the likelihood of a recession in the United States is growing after some worse-than-expected US jobs data last week. There is currently a 66% possibility that the Federal Reserve will raise interest rates at its next meeting in May. According to the bond markets, although it is widely believed that this will likely be the last high in the current tightening cycle.

The latest production cut by OPEC, which has driven up the price of Crude oil during the past week, is another topic that has been attracting attention.

Due to the Easter vacation being observed by many forex and financial centers. Data releases were minimal last week, and markets generally traded with moderate volatility and closed the week a day early. When trading returns next week, though, there will be much more information to digest, so volatility will likely increase.

Next Week’s Key Economic Indicators Releases

The most important pieces of information to be released this week are:

1- American Consumer Price Index Figures

2- US Federal Open Market Committee Meeting Minutes

3- PPI figures from the US

4- Monetary Policy Report, Rate Statement, and Overnight Rate 5- from the Bank of Canada

6- GDP figures for the UK

7- Information on Retail Sales in the United States

8- Claims for US Unemployment Benefits.

9- UoM Consumer Opinion, Preliminary

10- Reports on Australia’s Jobless Rate

New Zealand, Australia, the United Kingdom, and Switzerland. Germany, France, and Italy will all be closed on Monday for public holidays.

Technical Analysis

US Dollars Index

The crucial point in the forex market in the weekly price graph analysis shows that the US Dollar Index declined again over the previous week, rejecting the crucial support level of 101.07.

Given the Dollar’s continued trading below its levels from three and six months ago, this rejection means we may likely witness another collapse during the following week.

Regardless of the technical merits, the value of the Dollar will likely be profoundly affected by the US inflation statistics announcement scheduled for Wednesday. This may have a significant impact on forex and financial markets

NASDAQ 100 

After finishing last week at a fresh 7-month high, the NASDAQ 100 Index suffered a modest dip throughout the week. Despite this, the broader price movement supports the bullish technical picture.

The price has the opportunity to grow over the next week as there are no significant resistance levels until 13735.

While the NASDAQ 100 Index seems like a good buy, bulls should know that some prominent industry figures are talking down the recent tech surge. A lot will rely on whether or not data due this Wednesday shows US inflation data decreasing solidly, as has been the case in previous months.

Bitcoin

The Bitcoin price printed a doji candlestick last week, indicating indecision, although the trend is still modestly optimistic.

The price trend is optimistic, with a new 9-month high set just two weeks ago. Although the price could not reach a new all-time high last week, it has remained stable and has refused to fall in addition to the bullish long-term trend, which implies that Bitcoin is still interesting.

According to the price chart below, three major barriers still separate the price from the huge round of $30,000. Traders anticipating a massive breakthrough should sit on their hands until we see a daily closing above $30k. The cost could go as high as $33,400. Conversely, it may prevail, setting off a steep drop to at least $26,687.

Gold

Gold’s price hit a new all-time high last week, finishing above the $2000 mark for the first time in over 2.5 years. A large upper wick is seen on the bullish weekly candlestick pattern. But the fact that the price has remained above $2000 indicates that there is still an opportunity for a retest of the all-time high at $2070.

Short-term charts show that Gold is in a negative retracement. Therefore, waiting for a positive comeback once trading begins this week before getting long, at $2000 or support levels below that, could be prudent.

Silver

Last week, the price of Silver reached its highest weekly closing price in a year, peaking just below the round figure at $25. While the bullish weekly candlestick in the price graph shows very little upper wick, bulls should be wary because the entire technical picture appears less optimistic than Gold.

Silver has potential on the long side, but it must first break above $26.50 to make a convincing move over $25. It may take a few tries to perfect it, but trading bullish breakouts above $25 on a shorter timeframe with tight stop losses may be the best strategy.

Technical Summary:

The finest prospects for trading this week, are:

1- If Bitcoin’s daily closing price is above $30,000, It indicates a possible buy signal.

2- NASDAQ 100 Index is bullish and indicates a buy signal.

3- In case of Bullish rejection in Gold at $2000, $1950, or $1917, buy the metal.

4- Convincing break out in Silver above $25 indicates a possible bull’s control and favor going long.