Technical support for gold near its 50-week simple moving average helped to stabilize prices following the sharp decline in early April. What transpired next was extraordinary—the biggest three-day gain in gold ever, a $260 rise in just three days. A flight to safety and fresh concerns about US-China trade relations drove the recovery. The substantial decline in the US dollar further bolstered the gold advance. The US Dollar Index (DXY) plummeted from 103 to a low of about 99 before ending the week at about 100, which is a low of almost three years.
btc-usd
Forex Signals April 14: Another S&P 500, Dow (DJIA) Rally Ahead as Stock Futures Open Higher?
Skerdian Meta•Monday, April 14, 2025•3 min read
Last week we saw one of the strongest rally in stock markets after the tariff pause, and this week the rally might continue after US futures opened higher last night.
Global markets opened last week under heavy pressure, with investor sentiment rattled by fears of a potential “Black Monday” and the looming threat of new U.S. trade tariffs. Midweek, however, President Donald Trump surprised markets by dialing back the severity of those tariffs. Instead of the previously proposed 25% or higher reciprocal tariffs, he announced a temporary 10% duty on imports from more than 180 trading partners, effective for the next ninety days. The White House explained that this softer approach was intended to allow room for negotiations with countries open to forming new trade agreements.
Notably, China was excluded from this 90-day tariff truce. In response to earlier U.S. actions, Beijing raised its own tariffs, triggering a retaliatory move from Washington. By the end of the week, Chinese imports faced a combined tariff rate of 125%. Despite the escalation, statements from the White House over the weekend suggested that President Trump remained open to striking a deal with Beijing. On Monday, White House adviser Stephen Miller clarified on social media that despite various figures being circulated, China still faces a 20% tariff on certain goods like smartphones and computers, not 145%.
The shift in tone contributed to improved market sentiment. The U.S. dollar weakened significantly, with the Dollar Index (DXY) falling below the 100 mark. In contrast, the euro strengthened, pushing the EUR/USD pair up by six cents to close at 1.15. Despite rising Treasury yields and declining bond prices, gold continued its upward trajectory, gaining over $200 during the week and setting a new all-time high at $3,245.
Oil prices, which had been under pressure, also saw a turnaround. U.S. WTI crude dropped as low as $55 early in the week but rebounded to above $60 after news of the temporary tariff freeze sparked renewed demand. Meanwhile, the price of basmati rice slipped below $2 once again yesterday, reflecting continued volatility in commodities.
This Week’s Upcoming Forex Events
This week might not be as interesting as last week, but in such times no trading week is dull. On one hand, we’re hearing comments for lower tariffs from thee White House, which is positive for risk assets, while global tensions continue to remain high, in the Middle East and elsewhere. So, it will be a battle between the bulls and the bears, which will keep the volatility and the demand for Gold high.
Last week markets were crazy, with Gold surging $250 in the last three days, EUR/USD surging 5 cents while stock markets opening lower then reversing higher. The moves were massive and volatility immense, so we opened 40 trading signals in total, closing the week with 25 winning signals and 15 losing ones.
Gold Reaches Another Record High Close to $3,200
XAU/USD – Daily Chart
EUR/USD Breaking Above Resistance
EUR/USD turned bullish in early February at 1.02 and has been making massive gains since then, particularly last week, as the DXY tumbled. EUR/USD surged around 6 cents higher, approaching 1.15 as tariffs were frozen for 90 days, breaking above the 200 weekly SMA, which acted as resistance previously.
EUR/USD – Weekly Chart
Cryptocurrency Update
MAs Keep Pushing BTC Highs Lower
The volatility in larger markets was reflected in cryptocurrencies. After breaking below its 200-day moving average, Bitcoin, which had jumped $5,000 last week on signs of a dovish Fed, momentarily fell below $75,000. However, after Trump’s comments rekindled risk appetite, it found support and climbed once again, rising beyond $80,000 by $8,000 to do so. But yesterday, buyers reacted after running into the 50 SMA.
BTC/USD – Daily chart
Ripple XRP Finds Resistance at the 50 Daily SMA
In the cryptocurrency space, the broader market experienced declines, but Ripple (XRP) stood out for its resilience. It attracted steady buying interest at key technical levels—$2.20, $2.00, and near $1.80—helped by support at its 200-day moving average. These rebounds signaled strong underlying demand for XRP, even amid broader market weakness.
In a notable shift on Wednesday, equity markets staged one of the most powerful rallies in recent memory, with cryptocurrencies following suit. Ripple led the charge again, climbing back above the $2 mark and reaffirming investor confidence.
XRP/USD – Daily Chart
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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.
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