Forex Signals April 22: Mind Tesla and Google Earnings After US Stock Markets Close

With no concrete progress on trade deals, investors sold off U.S. assets while today we have Tesla and Alphabet Q1 earnings...

Skerdian Meta•Tuesday, April 22, 2025•3 min read

Earnings week kicks off with Tesla and Alphabet Q1 reports

Quick overview

Investor sentiment is declining due to a lack of progress in trade negotiations, leading to sell-offs in U.S. assets.
Tesla's upcoming Q1 earnings report is expected to show weak results, with lower vehicle deliveries and shrinking margins.
Alphabet is anticipated to report steady growth despite ongoing legal challenges, with analysts forecasting an EPS of $2.03.
Gold has surged to an all-time high amid expectations of Federal Reserve rate cuts and increasing trade tensions.

With no concrete progress on trade deals, investors sold off U.S. assets while today we have Tesla and Alphabet Q1 earnings, offering potential catalysts in a jittery market.

Market Sentiment Sours Amid Trade Stalemate

Investor patience is wearing thin as the lack of tangible progress on trade negotiations continues to weigh on markets. Early in the U.S. session, both the dollar and U.S. equities slumped to intraday lows after President Trump’s comments reignited concerns about non-tariff barriers. Although trade agreements are still expected eventually, market confidence is fading fast.

A modest recovery in the late U.S. session followed, driven in part by a rise in long-term Treasury yields. However, the rebound did little to offset the day’s losses. The Dow Jones and Nasdaq both closed down by roughly 2.56%, signaling renewed risk-off sentiment.

Interestingly, even a Trump social media post referencing “good meetings” on trade failed to uplift risk assets—a clear sign that markets are growing skeptical. Without substantial progress soon, both the U.S. dollar and equities may face deeper downside.

Today’s Market Outlook

Tesla Faces a Critical Q1 as Delivery Misses Weigh on Outlook

After markets close on April 22, Tesla is set to release its first-quarter earnings—and expectations are subdued. Analysts anticipate weak results, primarily due to softer vehicle deliveries and shrinking margins.

The company reportedly delivered just 337,000 vehicles in Q1, falling well short of projections. Wells Fargo forecasts earnings per share (EPS) of $0.34, significantly below the consensus of $0.42. Operating leverage also underperformed, and gross margins (excluding regulatory credits) are expected to drop from 13.6% in Q4 to 12.8%.

Tesla has also lowered its full-year 2025 EPS forecast by 16%, citing a projected 11% drop in deliveries and weaker demand for the revamped Model Y. The earnings release could prove pivotal for TSLA stock, which has been under pressure amid broader market declines.

Alphabet Earnings: Modest Growth Expected Despite Legal Headwinds

Alphabet (GOOG) will also report Q1 results after Tuesday’s U.S. close. Despite facing ongoing legal challenges, thecompany is expected to show steady growth. Analysts are forecasting $2.03 EPS on revenue of $89.2 billion, compared to $1.89 EPS and $80.5 billion in revenue during the same period last year.

Still, Alphabet continues to battle antitrust scrutiny, with recent DOJ rulings declaring Google’s dominance in both search and adtech as monopolistic. While appeals are underway, these cases pose long-term risks that may weigh on investor sentiment moving forward.

Last week, markets were chaotic, with gold soaring $250 in the final three days, the EUR/USD surging 5 cents, and stock markets opening down before turning upward. The moves were big, and the volatility was enormous, so we opened 40 trading signals in total, finishing the week with 25 winning signals and 15 losing ones.

Gold Surges to All-Time High on Fed Dovishness and Safe-Haven Demand

Gold posted its largest two-week rally in history, surging by nearly $500 amid growing expectations of Federal Reserve rate cuts and intensifying trade tensions. Spot gold (XAU/USD) soared to a new all-time high of $3,357 before pulling back slightly, only to resume its climb and reach $3,444.

The rally was reinforced by Fed Chair Jerome Powell’s dovish tone, which triggered bets on rate cuts totaling 90 basis points by year-end. The market now sees the possibility of policy easing beginning as early as June or July. Demand for traditional safe havens like gold and the euro has spiked, largely due to U.S. dollar weakness and trade uncertainties—particularly those stemming from escalating U.S.-China tensions. Chart XAUUSD, D1, 2025.04.22 00:07 UTC, MetaQuotes Ltd., MetaTrader 5, Demo

XAU/USD – Daily Chart

EUR/USD Above 1.15, Defying ECB Cut Speculation

EUR/USD rallied past the 1.1414 resistance level as the euro gained strength against a weakening dollar. What’s notable is that the euro remains firm despite speculation about a potential ECB rate cut, underscoring the market’s growing view that the dollar may remain under pressure for the foreseeable future.

Traders are now questioning whether EUR/USD will even revisit the 1.10 level in the near term, as appetite for dollar exposure continues to fade. Chart EURUSD, D1, 2025.04.22 00:07 UTC, MetaQuotes Ltd., MetaTrader 5, Demo

EUR/USD – Daily Chart

Cryptocurrency Update

Bitcoin Building A Bullish Case

Bitcoin reflected the broader market’s nervous energy, with sharp swings driven by central bank speculation and political headlines. After surging $5,000 on dovish Fed signals, BTC dropped below its 200-day moving average, briefly dipping below $75,000.

However, the narrative flipped again following comments from former President Trump, which sparked optimism across risk markets. Bitcoin quickly rebounded, rallying $8,000 to reclaim the $80,000 handle. Technical support at the 50-day moving average after climbing above it also helped reignite the bullish momentum yesterday.

BTC/USD – Daily chart

Ripple (XRP) Holds Firm Amid Crypto Whipsaws

Despite extreme volatility across the crypto landscape, Ripple (XRP) has demonstrated remarkable stability. It managed to hold key psychological and technical levels—$2.20, $2.00, and $1.80—thanks to strong support from its 200-day moving average.

This resilience has not gone unnoticed. As investor confidence returns to the broader crypto space, XRP has begun to attract renewed interest. By midweek, it had successfully reclaimed the $2.00 level, helping to lead a modest rebound across digital assets. XRP/USD – Daily Chart

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ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.