At the end of the Asian market on Wednesday (April 19th), the US dollar index maintained its intraday rebound trend and is currently around 101.85. Spot gold has experienced a fierce short-term sell-off, with gold prices currently around 1992 US dollars per ounce and plummeting by about 13 US dollars in the day. The well-known financial information website Economies.com recently wrote an article on Wednesday, conducting a forward-looking analysis of the daily trends of the euro/dollar, pound/dollar, dollar/Canadian dollar, and gold.

According to Economies.com, if the significant support falls below $1992.20 per ounce, there may be a greater pullback in gold prices.

Today and tomorrow will be the peak period for Federal Reserve officials to deliver speeches this week, including Waller, who ignited market hawk expectations last Friday, and Gullsby, who had previously made dove comments. These officials' comments are expected to trigger market conditions. In addition, on Wednesday local time, the Federal Reserve will release its latest economic situation Beige Book, which investors will closely monitor.

On Tuesday local time, St. Louis Fed Chairman Brad stated that given recent data showing inflation is still ongoing and the overall economy is expected to maintain growth, the Federal Reserve should continue to raise interest rates. Brad is a representative figure of hawkish officials among Federal Reserve policymakers, known as the "Eagle King", but he does not have voting rights in this year's monetary policy decisions.

Atlanta Fed Chairman Bostick stated on Tuesday that he expects the Fed to raise interest rates again and then maintain them unchanged for a considerable period of time to curb still high inflation.

On Wednesday local time, the Federal Reserve will release a brown book on economic conditions; In 2023, FOMC Voting Committee and Chicago Fed Chairman Gullsby will deliver a speech; FOMC Permanent Voting Committee and New York Fed Chairman Williams will deliver a speech.

On Thursday local time, Federal Reserve Governor Warren will deliver a speech; Cleveland Fed Chairman Maester will deliver a speech on the economic and monetary policy outlook; Federal Reserve Governor Bowman will attend the "Fed Listening" event; Atlanta Fed Chairman Bostick will deliver a speech on the economic situation; In 2023, FOMC Voting Committee and Philadelphia Fed Chairman Huck will deliver a speech on the economic outlook.

According to data from the interest rate futures market, the probability that traders expect the Federal Reserve to raise interest rates by 25 basis points next month is as high as 88%.

The following is the main content of an article written by Economies.com:

EUR/USD

The euro/US dollar closed above 1.0945 yesterday, thus stopping the bearish adjustment and is expected to resume the main bullish trend. The first bullish target for EUR/USD is to test the recent high of 1.1075.

Therefore, we are waiting for the euro/dollar to further rise in the coming trading days. From the 4-hour chart, the 50 cycle index moving average (EMA) continues to provide support. It should be considered that if the euro/US dollar falls below 1.0945, this will stop the bullish scenario and push the currency back to a correction bearish track.

It is expected that EUR/USD trading will be between the support level of 1.0900 and the resistance level of 1.1065 today.

The expected trend for EUR/USD today is bullish.

GBP/USD

The pound/dollar hovers around the 50 cycle EMA, which constitutes strong resistance, while random indicators transmit negative signals, causing the pound/dollar to show a sideways trend. At present, we are waiting for the random indicators to gain positive momentum, which will help drive the GBP/USD back to an upward trend and first rise to 1.2500, with the next target at 1.2545.

The GBP/USD remains above 1.2370, which allows us to continue predicting a bullish trend for the currency pair in the future. It should be pointed out that if the GBP/USD falls below this level, it will force a new bearish adjustment in the currency pair, with the next target being 1.2262.

It is expected that today's GBP/USD trading will be between the support level of 1.2370 and the resistance level of 1.2520.

The expected trend for GBP/USD today is bullish.

USD/CAD

The US dollar/Canadian dollar experienced a brief downward trend yesterday and approached key support of 1.3350. The currency pair then returned to its upward trend and resumed its bullish intraday trend. At present, we are waiting for the bearish channel resistance of 1.3410 in the US dollar/Canadian dollar test. It should be pointed out that if we break through this level, it will push the currency to test the next bullish target of 1.3500.

Therefore, we will continue to predict a bullish trend for the US dollar/Canadian dollar in the future. As long as it remains above 1.3350, bullish expectations remain valid; Once it falls below this level, it will drive the US dollar/Canadian dollar to return to a bearish trend.

It is expected that the US dollar/Canadian dollar trading will be between the support level of 1.3330 and the resistance level of 1.3470 today.

The expected trend for the US dollar/Canadian dollar today is bullish.

gold

From the 4-hour chart, it can be seen that gold prices fluctuate around the 50 cycle EMA, and random indicators continue to lose positive momentum, which makes the expectation of gold prices returning to a corrective bearish trend still valid. The gold price needs to fall below $1992.20 per ounce to confirm the continuation of the bearish trend and move towards the $1957.30 per ounce area.

Therefore, we will continue to predict that gold prices will remain bearish for a period of time in the future. It should be pointed out that if the gold price rebounds above $2010.00 per ounce, it will stop the bearish adjustment and return to the main bullish trend.

It is expected that gold prices will trade between the support level of $1985.00 per ounce and the resistance level of $2015.00 per ounce today.

The expected trend for gold prices today is bearish.