GOLD
Gold prices have risen amidst the risks associated with Trump’s policies. However, 2758.248 remains a resistance level, with both the MACD and RSI showing increased momentum and volume for selling. Despite this, overall price action suggests a higher likelihood of a buying continuation as the market consolidates for a few hours. Incorporating candlestick patterns, we observe bullish formations that support our entry point strategies for long positions. Global forex patterns also indicate that gold remains a strong hedge, reinforcing our bullish outlook. While gold prices could fall due to being overpriced at the moment, the probability of continued upward movement remains higher.
SILVER
Silver prices are currently consolidated, with a high likelihood of returning to a range below 30.6675. Both the MACD and RSI indicate increased momentum and volume, but prices show signs of a selling continuation. Utilizing entry point strategies, traders may look for breakdown confirmations before entering short positions. Auto trade alerts can provide signals to identify optimal moments for execution.
DXY (US Dollar Index)
The dollar is rising after reaching 107.834, suggesting a continued upward move to fill the gap it left behind. Although the RSI indicates overbought conditions, the MACD’s steady and increasing volume and momentum suggest further bullish movement. Global forex patterns highlight strength in the USD, influencing multiple currency pairs. Traders should use auto trade alerts to manage trades effectively.
GBPUSD
As mentioned yesterday, the Pound remains subdued, failing to break above 1.23720 and now testing 1.23000. There is a possibility for the market to crash below this level, though consolidation appears more likely. Candlestick patterns suggest weakening bullish attempts, aligning with entry point strategies that favor short positions. Portfolio allocation should consider reducing GBP exposure in favor of stronger assets.
AUDUSD
The Australian dollar has remained consolidated since yesterday, showing little conviction to move in a specific direction. Both the MACD and RSI indicate waning strength and momentum, suggesting a potential price decline. However, the current price’s comfort above the upper boundary of the consolidation zone hints at a possible shift to bullish momentum. Traders should monitor candlestick patterns and leverage auto trade alerts for confirmations. Diversification in portfolio allocation may be beneficial.
NZDUSD
The Kiwi dollar has found stability above its range, preserving the bullish shift in price. However, both the MACD and RSI reflect waning strength and momentum, with prices now consolidating. While we remain bearish on the Kiwi, we await further price movements for confirmation. Entry point strategies should focus on reversals and breakouts.
EURUSD
The Euro is making modest gains, with prices approaching 1.04672. However, the MACD is trending downward, and the RSI indicates oversold conditions. Similar to the Pound, we expect this market to weaken against the dollar. Global forex patterns suggest a continuation of USD strength, impacting the EUR. Portfolio allocation should consider hedging against potential declines.
USDJPY
The Yen is showing unexpected weakness ahead of tomorrow’s anticipated rate hike. Prices are testing the previous swing high, with both the MACD and RSI reflecting increased buying momentum and strength. Traders should watch for key candlestick patterns to refine their entry point strategies. Auto trade alerts will help in capturing sudden moves post-announcement.
USDCHF
The Franc remains healthy, trading below 0.90743, with increased chances of continuing lower. However, the MACD is currently showing buying momentum, and the RSI has signaled overbought conditions at the recent swing high. Entry point strategies should account for potential bullish reversals. Portfolio allocation may favor USD over CHF in the near term.
USDCAD
The Canadian dollar shows increased bullish momentum, with the RSI signaling a divergence from price as buying strength picks up. Prices are expected to continue rising from the current low, as the market respects this support level. Should Trump impose tariffs, we anticipate a substantial increase in this market, accompanied by a significant weakening of the CAD. Global forex patterns indicate CAD’s vulnerability, while auto trade alerts can assist in timing entries.
COT REPORT ANALYSIS
- AUD – WEAK (4/5)
- GBP – WEAK (5/5)
- CAD – WEAK (4/5)
- EUR – WEAK (4/5)
- JPY – WEAK (5/5)
- CHF – WEAK (5/5)
- USD – STRONG (5/5)
- 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 ca
