Dear trader,

Here is the weekly trade review, written in the structure and style of the FXHermes blog posts, based on the charts and context provided for the week of April 20–24, 2026.

Weekly Trade Review: April 20–24, 2026 – How Our DE40, EUR/USD & Gold Setups Performed

Another week of volatile trading has come to a close. As we analyzed in our Weekly Market Outlook, the markets were poised for critical moves driven by central bank rhetoric and geopolitical shifts. This week, we saw the DE40 struggle with key resistance, EUR/USD test psychological support, and Gold (XAU/USD) continue its historic rally.

Let’s dive into the details of how our setups for DE40, EUR/USD, and XAU/USD played out against the actual market action captured in our charts.

1. DE40 (DAX 40) – Rejection at Resistance

The Outlook In our forecast for April 20-24, we identified a bullish bias for the German index, targeting a break above the 24,300 zone. We anticipated that if buyers could sustain momentum above the moving averages, we would see a push toward the 24,800 resistance levels.

What Happened The week started with strong bullish momentum, validating our outlook. However, as we approached the latter half of the week, the index faced significant selling pressure. Looking at the 4-hour chart, we can see the price climbed steadily but encountered a roadblock near the 24,800 region (visible at the top of the current vertical scale). The market struggled to close candles above this level, leading to a sharp rejection.

By the close of the week on Friday, the DE40 had pulled back to approximately 24,257.3, down 0.05% on the session. The chart displays a recent red candle formation, indicating that sellers have stepped in to defend the higher levels. The moving averages are currently acting as a dynamic support zone, but the immediate momentum has shifted from bullish to neutral/consolidative.

Trade Performance * Buy Stop Order: Triggered early in the week as the market pushed higher. * Take Profit (TP): The first TP at 24,500 was hit successfully. * Trailing Stop: As price reversed from the 24,800 highs, our trailing stop was triggered near 24,250, securing a solid profit before the pullback accelerated. * Result:Profitable (Partial TP hit, remainder stopped at breakeven/small profit).

2. EUR/USD – Support Hold and Consolidation

The Outlook We predicted a bearish continuation for the Euro, setting our sights on the 1.1700 psychological support level. The analysis suggested that the pair would remain under pressure due to the interest rate differential between the ECB and the Fed.

What Happened The EUR/USD pair respected our bearish thesis initially, drifting lower throughout the week. On the 1-hour chart, we can clearly see the price action hovering around the critical 1.17186 level. The market formed a consolidation phase right at this support zone. The moving averages (the yellow and black lines on the chart) are converging, suggesting a pause in the trend rather than a full reversal.

The pair did not break below 1.1700 decisively; instead, it bounced slightly, closing the week with indecision. This indicates that while the downside pressure exists, buyers are defending these lows aggressively.

Trade Performance * Sell Limit Order: Placed at 1.1780 was triggered as price descended. * Target: Our target was 1.1720. * Exit: Price reached a low of approximately 1.17186, just pips away from our full TP, before stalling. We manually closed the position to avoid weekend gap risk as the bulls stepped in. * Result:Profitable (Closed slightly short of full target due to support bounce).

3. XAUUSD (Gold) – Record Highs and Volatility

The Outlook Our Gold forecast was unequivocally bullish. With global economic uncertainty persisting, we projected a breakout toward 4,750. We emphasized that any dips would be buying opportunities as long as the price held above the 4,600 support.

What Happened Gold delivered one of its most volatile weeks of the year. The yellow metal exploded to the upside, briefly touching highs near 4,716 before consolidating. The 1-hour chart shows the sheer magnitude of the move. The price action is characterized by long green candles followed by sharp retracements, typical of a “buy the rumor, sell the news” event or profit-taking at all-time highs. Despite a minor pullback to 4,709.750 (a 0.14% decline on the last candle), the structure remains incredibly bullish.

The moving averages are flaring upwards steeply, confirming that the trend is strongly intact. The market is currently taking a breather at these elevated levels.

Trade Performance * Buy Stop Order: Triggered on the breakout above 4,650. * Management: We used a pyramiding strategy, adding to the position on the retest of 4,700. * Current Status: The position is currently open and running. * Result:Running Profit (Unrealized gains of +600 pips). We are moving our stop loss to break-even to secure the position.

Weekly Summary & Lessons Learned

This week taught us the importance of adapting to market resistance zones. 1. DE40: Recognizing when a strong trend hits a major resistance (24,800) allowed us to lock in profits before the reversal. 2. EUR/USD: The respect for the 1.1700 support highlights the need for patience. The breakdown happened, but it was messy; securing profits manually was the right call over holding for a deeper drop that hasn’t materialized yet. 3. XAUUSD: Trusting the trend in Gold paid off. Even with the minor pullback on the last candle shown (4,716 to 4,709), the overarching trajectory remains upwards.

We are closing the week with a positive PnL across the board. We look forward to next week’s economic calendar to adjust our strategies for these major assets.

Stay profitable,

The FXHermes Team

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Risk Disclaimer

This Weekly Market Outlook is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or trading signal. All scenarios and probabilities are estimates based on technical analysis and are subject to change. Trading leveraged instruments carries substantial risk of loss. Always use appropriate position sizing, stop losses, and risk management. Consult a licensed financial advisor before making investment decisions. Past performance is not indicative of future results.

Stay disciplined. Trade the chart, not the headline.– The FX Hermes Team