enDaily Analysis 28/05/2025
Latest Economic and Fundamental Insights
The US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improved US consumer confidence boosted sentiment toward the dollar.
Gold maintains heavy losses
The dollar rose after data showed that U.S. consumer confidence rose sharply in May from its lowest level in nearly five years, indicating a more optimistic outlook for the economy and the labor market.
Moreover, President Donald Trump’s recent decision to postpone the imposition of tariffs on EU imports—allowing more time for negotiations—has eased concerns about escalating trade tensions.
Meanwhile, Minneapolis Federal Reserve President Neel Kashkari called on Tuesday for interest rates to remain steady until there is more clarity on how higher tariffs will impact inflation.
Investors are now awaiting the release of the minutes from the Federal Reserve’s latest meeting later today, as well as Friday’s personal consumption expenditures inflation data, for fresh insights into the central bank’s interest rate path.
Oil prices rose due to the possibility of US sanctions on Russia, with Brent crude trading at $64.00 and West Texas Intermediate at $63.00.
US President Donald Trump expressed frustration with Russian President Vladimir Putin on Tuesday amid stalled peace talks in Ukraine, indicating that new sanctions against Moscow may be unveiled this week.
Adding to the upward momentum, the United States banned Chevron from exporting Venezuelan crude oil under a new mandate that allows the company to retain assets but not export oil, increasing demand for crude oil in the Middle East.
On the trade front, EU officials are gathering information on US investments from major companies after Trump backed down from plans to impose steep tariffs on European goods.
Meanwhile, markets are awaiting the upcoming OPEC+ meeting, where a potential production increase of approximately 411,000 barrels per day is expected to be discussed.
Bitcoin price began a fresh rally above $108,000. Bitcoin is now consolidating its gains and could target $110,750.
Smart technical reports
How they work
A likely scenario is proposed for today, and the probability of this scenario being achieved, according to technical analysis, may be between 60% and 75%.
If the first scenario fails, the probability of the second scenario being achieved will be between 60% and 75% certain.
The first scenario fails when the price reaches the level of the alternative scenario condition, and the alternative scenario is immediately activated and the prediction from the first scenario is cancelled.
These reports are not considered a substitute for the trader’s decision, but rather they are a tool to assist the follower in making his own decisions, as a reference based on the origins of classical technical analysis.
GOLD
General trend: Upward
Time interval: half an hour (30 minutes)
Current price: 3305.93
First scenario: Buy gold with a break and hold above 3312.07, targeting 3320.79 and 3328.95.
Alternative scenario: Sell gold with a break and hold below 3296.99, targeting 3286.99 and then 3277.89.
Comment: Trading above the support and moving averages suggests an upward trend.
CRUDE OIL
Trend: Upward
Time interval: half an hour (30 minutes)
Current price: $60.67 per barrel
Scenario 1: Buy oil with a breakout and hold steady with a candle closing above $61.14, targeting $61.50 and then $61.85.
Alternative scenario: Sell oil after breaking the $60.60 level, targeting $60.24 and then $59.81.
Comment: Trading below the resistance and moving averages suggests a decline.
EURUSD
General trend: Upward
Time interval: half an hour (30 minutes)
Current price: 1.13068 Scenario 1: Buy EUR/USD after breaking 1.13299, targeting 1.13561 and then 1.13767
Alternative scenario: Sell the EUR/USD after a breakout and hold steady with a candle close below 1.12877, targeting 1.12702 and then 1.12501.
Comment: Trading above the support and moving averages suggests an upward trend.
GBPUSD
Trend: Upward
Time interval: half an hour (30 minutes)
Current price: 1.34771
Scenario 1: Buy GBP/USD with a break and stability above 1.34899, targeting 1.35075 and then 1.35274.
Alternative scenario: Sell GBP/USD after breaking and closing below 1.34607, targeting 1.34408 and then 1.34218.
Comment: Trading above the support and moving averages suggests an upward trend.
NAS100
Trend: Upward
Time interval: half an hour (30 minutes)
Current price: 21449
Scenario 1: Buy the Nasdaq after a breakout and hold steady with a close above 21532, targeting 21651 and then 21759.
Alternative scenario: Sell the Nasdaq after a breakout and close below 21375, targeting 21270 and then 21162.
Comment: Trading above the support and moving averages suggests an upward trend.
Economic Calendar
(Times are in GMT+3)
-From the United States of America, minutes of the Federal Open Market Committee meeting, 21:00
Fundamental Analysis
The US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improved US consumer confidence boosted sentiment toward the dollar.
Market optimism was further supported by President Trump’s decision to postpone the imposition of 50% tariffs on the European Union, which eased concerns about escalating trade tensions and improved the outlook for US assets.
Meanwhile, European leaders have reportedly asked major companies and CEOs to clarify their investment plans in the United States ahead of upcoming trade negotiations with Washington.
On the monetary policy front, Minneapolis Federal Reserve President Neel Kashkari said Tuesday that interest rates should remain unchanged until the inflationary impact of higher tariffs becomes clearer.
Externally, the dollar also received support from the sharp decline in the yen’s value following reports that Japanese authorities may intervene to stabilize the bond market, possibly by limiting the issuance of ultra-long-term bonds following a recent rise in yields.
Gold traded around $3,300 an ounce on Wednesday after a sharp sell-off in the previous session, as a stronger US dollar and improved risk sentiment weighed on the precious metal.
West Texas Intermediate (WTI) crude oil futures rose to around $61.4 a barrel on Wednesday, reversing sharp losses from the previous session as concerns mounted about potential new US sanctions on Russia, which could tighten global supplies.
Risk Disclaimer
Any information/articles/materials/content provided by WRPRO or displayed on its website is intended to be used solely for educational purposes only and does not constitute investment advice or a consultation on how the client should trade.
Although WRPRO has taken care to ensure that the content of such information is accurate, - it cannot be held responsible for any omission/error/miscalculation and cannot guarantee the accuracy of any material or any information contained herein.
Therefore, any reliance you place on such material is strictly at your own risk. Please note that the responsibility for using or relying on such material rests with the client and WRPRO accepts no liability for any loss or damage, including without limitation, any loss of profit which may arise directly or indirectly from the use of or reliance on such information.
Risk Warning: FX/CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. You should consider whether you understand how FX/CFDs work and whether you can afford to take the high risk of losing your money.
You should make sure that, depending on your country of residence, you are allowed to trade with WRPRO products. Please ensure that you are familiar with the company’s risk disclosure.
