Daily Market Outlook, 29th Of April, 2025

RISK WARNING: This report is for educational purposes only. Trading forex involves significant risk and may not be suitable for all investors. Trade at your own risk. Always use proper risk management strategies to protect your capital.

MASTER TRADE PLANNER

Instrument Bias Long Entry Long SL Long TP1 Long TP2 Short Entry Short SL Short TP1 Short TP2
EURUSD Neutral → Bullish Above 1.1385 1.1345 1.1420 1.1450 Below 1.1340 1.1385 1.1284 1.1254
XAUUSD Bullish Above 3315 3290 3330 3355 Below 3285 3315 3260 3240
GBPUSD Bullish Above 1.3415 1.3375 1.3450 1.3485 Below 1.3370 1.3415 1.3325 1.3290
USOIL Bearish → Neutral Above 61.80 61.00 62.50 63.20 Below 61.00 61.80 60.50 59.80
US30 Strong Bullish Above 40,300 40,100 40,450 40,600 Below 40,100 40,300 39,850 39,700

 

📊 Overall Snapshot

Sentiment Summary
EURUSD: Slight Bullish (holding Fib + Pivot)
XAUUSD: Bullish (pushing above Bollinger midline)
GBPUSD: Bullish (holding Pivot + Fib)
USOIL: Weak/Neutral (struggling under Pivot)
US30: Strong Bullish (new highs attempted)

 

💶 EUR/USD

📊 Pivot Point Levels (Daily Standard Calculation)

  • Pivot Point (PP): 1.1367
  • Resistance 1 (R1): 1.1420
  • Resistance 2 (R2): 1.1450
  • Resistance 3 (R3): 1.1503
  • Support 1 (S1): 1.1337
  • Support 2 (S2): 1.1284
  • Support 3 (S3): 1.1254

→ Current price 1.1380 is slightly above Pivot (1.1367), slight bullish tone.

📐 Fibonacci Daily Levels (recent swing)

Recent move: 1.1270 low to 1.1450 high.

  • 38.2% retracement: 1.1375
  • 50% retracement: 1.1360
  • 61.8% retracement: 1.1345

→ Right now sitting around the 38.2% Fib (1.1375) — a crucial battleground.

📉 Bollinger Bands (Daily)

  • Upper Band: 1.1470
  • Lower Band: 1.1300
  • Middle Band (20 SMA): 1.1385

→ Trading slightly below the mid-Bollinger Band (1.1385). Key area for bounce or rejection.

📈 Elliott Wave View

  • EUR/USD likely working through a minor Wave 4 pullback within a larger Wave 3 rally.
  • Wave 5 potential upmove starting if it holds 1.1370–1.1360 zone.

🧱 Wyckoff Theory View

  • Still a Re-accumulation Phase:
    • Support zone: 1.1360–1.1345
    • Resistance zone: 1.1420–1.1450
  • Potential Phase D beginning if price breaks north soon.

🎯 Nearest Key Support and Resistance Levels

Support:

  • 1.1375 (Fib 38.2% + dynamic support)
  • 1.1360 (Fib 50%)
  • 1.1337 (S1 pivot)

Resistance:

  • 1.1420 (R1 pivot)
  • 1.1450 (R2 pivot)

🟩 Long Trade Setup (Buy Scenario)

📌 Premise:
Support holding at 1.1370–1.1360 zone and move toward key resistance.

Entry:

  • Buy above 1.1385 (confirmation reclaim of middle Bollinger Band).

Stop Loss:

  • Below 1.1345 (Fib 61.8% and strong support).

Take Profit:

  • Target 1: 1.1420 (R1)
  • Target 2: 1.1450 (R2)
  • Aggressive Target: 1.1503 (R3)

Trade Idea:

  • Buy dips while 1.1345 holds.

🟥 Short Trade Setup (Sell Scenario)

📌 Premise:
Failure to hold 1.1360–1.1345 zone would trigger deeper correction.

Entry:

  • Sell below 1.1340 (confirmed break).

Stop Loss:

  • Above 1.1385 (invalidates breakdown).

Take Profit:

  • Target 1: 1.1284 (S2)
  • Target 2: 1.1254 (S3)
  • Aggressive Target: 1.1180 (previous major support).

Trade Idea:

  • Short breakdowns if the 1.1340 zone is lost.

 

 

 

🪙 Gold (XAU/USD)

📊 Pivot Points

  • PP: 3305
  • R1: 3328
  • R2: 3345
  • R3: 3370
  • S1: 3288
  • S2: 3265
  • S3: 3245

🔵 Trading slightly above PP → bullish tilt.

📐 Fibonacci Levels

  • Recent move: 3275 → 3355
  • 38.2% Fib: 3315
  • 50% Fib: 3310
  • 61.8% Fib: 3305

🔵 Price hovering around Fib supports — strong base forming.

📉 Bollinger Bands (Daily)

  • Upper Band: 3360
  • Lower Band: 3280
  • Middle Band: 3320

🔵 Sitting just under middle band. Needs to clear 3312–3315.

📈 Elliott Wave

  • Looks like minor correction over, fresh push in Wave 5 possible.

🧱 Wyckoff Phase

  • Phase D advancing toward breakout.

🎯 Nearest Support & Resistance

  • Support: 3305 / 3288
  • Resistance: 3328 / 3345

🟩 Long Setup

  • Entry: Above 3312
  • SL: 3288
  • TP1: 3330
  • TP2: 3350

🟥 Short Setup

  • Entry: Below 3285
  • SL: 3312
  • TP1: 3265
  • TP2: 3245

 

💷 GBP/USD

📊 Pivot Points

  • PP: 1.3390
  • R1: 1.3450
  • R2: 1.3480
  • R3: 1.3530
  • S1: 1.3360
  • S2: 1.3315
  • S3: 1.3285

🔵 Above pivot — bullish bias.

 

 

📐 Fibonacci Levels

  • Recent move: 1.3310 → 1.3480
  • 38.2% Fib: 1.3410
  • 50% Fib: 1.3395
  • 61.8% Fib: 1.3380

🔵 Holding 38.2% zone = strong.

📉 Bollinger Bands (Daily)

  • Upper Band: 1.3500
  • Lower Band: 1.3300
  • Middle Band: 1.3400

🔵 Trading around middle band.

📈 Elliott Wave

  • Could be starting a new wave up from consolidation.

🧱 Wyckoff Phase

  • Re-accumulation inside 1.3360–1.3450 box.

🎯 Nearest Support & Resistance

  • Support: 1.3410 / 1.3380
  • Resistance: 1.3450 / 1.3480

🟩 Long Setup

  • Entry: Above 1.3430
  • SL: 1.3385
  • TP1: 1.3470
  • TP2: 1.3500

🟥 Short Setup

  • Entry: Below 1.3380
  • SL: 1.3430
  • TP1: 1.3345
  • TP2: 1.3300

 

 

🛢️ Crude Oil (WTI)

📊 Pivot Points

  • PP: 61.55
  • R1: 62.30
  • R2: 63.00
  • R3: 63.75
  • S1: 60.80
  • S2: 60.00
  • S3: 59.20

🔴 Below Pivot → slight bearish bias.

📐 Fibonacci Levels

  • Recent move: 59.80 → 63.00
  • 38.2% Fib: 61.80
  • 50% Fib: 61.40
  • 61.8% Fib: 61.00

🔴 Testing Fib 50% support.

📉 Bollinger Bands (Daily)

  • Upper Band: 63.50
  • Lower Band: 60.00
  • Middle Band: 61.75

🔴 Below middle band.

📈 Elliott Wave

  • Minor correction underway.
  • Holding 61.00 key to bullish recovery.

🧱 Wyckoff Phase

  • Redistribution unless immediate bounce.

🎯 Nearest Support & Resistance

  • Support: 61.00 / 60.00
  • Resistance: 61.80 / 62.30

🟩 Long Setup

  • Entry: Above 61.80
  • SL: 61.00
  • TP1: 62.30
  • TP2: 63.00

🟥 Short Setup

  • Entry: Below 61.00
  • SL: 61.80
  • TP1: 60.50
  • TP2: 59.70

📈 Dow Jones (US30)

📊 Pivot Points

  • PP: 40,210
  • R1: 40,450
  • R2: 40,600
  • R3: 40,850
  • S1: 40,060
  • S2: 39,850
  • S3: 39,700

🟢 Trading above pivot — bullish.

📐 Fibonacci Levels

  • Recent move: 39,900 → 40,600
  • 38.2% Fib: 40,340
  • 50% Fib: 40,250
  • 61.8% Fib: 40,160

🟢 Holding above 50% Fib.

📉 Bollinger Bands (Daily)

  • Upper Band: 40,900
  • Lower Band: 39,800
  • Middle Band: 40,350

🟢 Slightly under mid band.

📈 Elliott Wave

  • Wave 5 continuation unfolding.

🧱 Wyckoff Phase

  • Markup in Phase E — uptrend intact.

🎯 Nearest Support & Resistance

  • Support: 40,250 / 40,060
  • Resistance: 40,450 / 40,600

🟩 Long Setup

  • Entry: Above 40,300
  • SL: 40,100
  • TP1: 40,450
  • TP2: 40,600

🟥 Short Setup

  • Entry: Below 40,100
  • SL: 40,300
  • TP1: 39,900
  • TP2: 39,700