The deterioration in US economic indicators could trigger an upward movement in XAUUSD towards 3,425 USD. Discover more in our analysis for 28 April 2025.
XAUUSD forecast: key trading points
- Dallas Fed Manufacturing Index (US): previously at -16.3, projected at -16.7
- Current trend: moving upwards
- XAUUSD forecast for 28 April 2025: 3,250 and 3,425
Fundamental analysis
The Dallas Fed Manufacturing Index is a monthly indicator that assesses the economic health of Texas’s industrial sector. Compiled by the Federal Reserve Bank of Dallas, it surveys factories and manufacturing plants regarding changes in production, orders, prices, and employment. A positive reading indicates expansion, while a negative one signals contraction.
The XAUUSD forecast for 28 April 2025 takes into account that the index might fall to -16.7. A further deterioration of this indicator could be a negative signal for the US dollar and potentially drive XAUUSD higher.
On the H4 chart, XAUUSD prices have formed a Hammer reversal pattern near the lower Bollinger band. At this stage, they are forming an upward wave following the signal from the pattern. The uptrend is expected to develop further as XAUUSD quotes remain within an ascending channel. The immediate upside target is the 3,425 USD resistance level.
At the same time, today’s technical analysis for XAUUSD also considers an alternative scenario, where prices correct towards 3,250 USD before resuming their upward movement.
Following the completion of the correction, XAUUSD prices may soon reach a new record high, aiming towards 3,700 USD.
Summary
After completing a corrective wave, XAUUSD appears poised for a new bullish impulse. Weakening US economic indicators could further undermine the US dollar.
Source: Roboforex
