MARKET OVERVIEW
Concerns rise as Trump’s tariff threats loom on February 1st, with potential tariffs on Canada, Mexico, China, India, and Brazil. Global forex patterns indicate heightened volatility, affecting currency pairs and commodities. Auto trade alerts can help monitor sudden shifts.
GOLD
GOLD has reached 2797.055, driven by tariff concerns. Candlestick patterns show strong bullish momentum, supported by the MACD and RSI. Entry point strategies favor continued buying, with price action targeting 3,000. Portfolio allocation should consider increased exposure to GOLD.
SILVER
SILVER follows GOLD’s rally, with the MACD and RSI reflecting strong buying pressure. The EMA200 confirms the uptrend. Entry point strategies suggest bullish positions, while portfolio allocation may benefit from including SILVER as a hedge.
DXY (US Dollar Index)
The Dollar consolidates below its previous swing high. The EMA200 acts as resistance, with muted momentum. Global forex patterns hint at potential bullish movement. Auto trade alerts can capture breakout opportunities.
MAJOR CURRENCY PAIRS
- GBPUSD: Consolidated, awaiting market catalysts. Candlestick patterns show low momentum.
- AUDUSD: Bearish momentum persists. Entry point strategies suggest selling opportunities.
- NZDUSD: Bearish with weak volume. Auto trade alerts help track shifts.
- EURUSD: Bearish trend confirmed below the swing low. Candlestick patterns support downside potential.
- USDJPY: Sideways movement; BOJ’s stance supports Yen strength. Global forex patterns indicate potential for gains.
- USDCHF: Potential bullish continuation. Monitor with auto trade alerts.
- USDCAD: Weakened by tariff concerns. Entry point strategies suggest bullish bias.
COT REPORT ANALYSIS
- AUD – WEAK (4/5)
- GBP – WEAK (5/5)
- CAD – WEAK (4/5)
- EUR – WEAK (5/5)
- JPY – WEAK (3/5)
- CHF – WEAK (5/5)
- USD – STRONG (4/5)
- NZD – WEAK (4/5)
- GOLD – STRONG (5/5)
- SILVER – STRONG (5/5)
By leveraging candlestick patterns, entry point strategies, auto trade alerts, portfolio allocation, and global forex patterns, traders can navigate market volatility effectively.
