Market Overview
This week is filled with major economic data releases that will influence global markets. Key reports include Canadian CPI, UK Unemployment, and New Zealand CPI. Later in the week, investors will watch US Unemployment Claims, Canadian Retail Sales, and PMI reports from Europe, the UK, and the US. The Bank of Japan’s outlook will also play a crucial role in market sentiment.
With the US markets closed on Monday, anticipation builds around President Trump’s policies post-inauguration. Investors are closely monitoring potential economic shifts that could impact cross-currency trading strategies. Meanwhile, geopolitical tensions in the Middle East remain fragile, affecting market stability.
Market Analysis
GOLD
Gold prices remain above critical support at 2689.197, offering potential for reversal. RSI shows normalization, while MACD reflects increased selling momentum. However, overall price action remains bullish. Data-driven forex trading suggests monitoring entry point strategies for optimized positions.
SILVER
Silver holds strong at 29.9000 despite bearish pressure. MACD and RSI show increased selling, yet price remains within a key consolidation zone. Long-term forex plans should factor in silver’s potential resilience.
DXY
With Trump’s inauguration imminent, market volatility is expected. The Dollar consolidates within a key range, with MACD and RSI signaling a possible buying continuation. Data-driven forex trading supports a watch-and-wait approach for confirmation.
GBPUSD
The Pound remains stagnant, with weak momentum reflected in MACD and RSI. Despite hints of buying potential, fundamentals favor a bearish trend. Best brokers for MetaTrader provide tools to track shifts effectively.
AUDUSD
The Australian Dollar struggles to break its previous swing high. MACD indicates possible buying, but RSI warns of overbought conditions. Cross-currency trading strategies suggest caution amid market uncertainty.
NZDUSD
The Kiwi shows selling pressure, staying below key support. While MACD hints at bullish potential, RSI signals a likely reversal. Scalping bots for forex can help identify short-term opportunities.
EURUSD
The Euro remains in a bearish structure, with overbought RSI levels increasing the probability of further declines. Long-term forex plans should consider maintaining a cautious stance.
USDJPY
The Yen faces continued selling pressure, with MACD and RSI showing potential bullish momentum. However, price action remains bearish. Traders should factor in Bank of Japan policy shifts in their data-driven forex trading plans.
USDCHF
The Swiss Franc maintains a bullish structure, holding above key support. MACD suggests further gains, while RSI indicates oversold conditions. Scalping bots for forex could be effective in navigating short-term fluctuations.
USDCAD
The Canadian Dollar weakens, breaking above 1.44440. RSI divergence suggests a possible pullback before further bullish continuation. Entry point strategies and long-term forex plans can help optimize positioning in cross-currency trading.
COT Reports 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)