MARKET OVERVIEW
Trump plans tariffs of up to 25% on Mexico and Canada starting February 1, 2025, citing inadequate efforts to curb undocumented migration. Additionally, a 10% tariff on Chinese imports could generate $1.5 trillion by 2035. Speculation of further tariffs continues, impacting cross-currency trading strategies.
GOLD
Gold prices are supported by the EMA 200. RSI and MACD indicate growing bearish momentum, though overall bias remains bullish. FOMC decisions could trigger consolidation. If Trump’s call for rate cuts is heeded, gold may surge. Long-term forex plans should consider gold as a hedge.
SILVER
Silver is consolidating between 30.6675 and 29.9000. RSI and MACD indicate selling pressure, though gold’s rise may pull silver higher. Scalping bots for forex can optimize short-term trades in silver.
DXY
The Dollar surged, signaling increased demand. RSI indicates overbought conditions, suggesting a reversal. MACD supports bullish movement, but gap-filling is likely. Data-driven forex trading strategies can help navigate volatility.
GBPUSD
The Pound is consolidating. MACD shows increased selling volume, while RSI signals oversold conditions. Best brokers for MetaTrader provide tools to track GBP trends effectively.
AUDUSD
The Australian Dollar weakened due to tariffs on raw materials. MACD and RSI show bearish momentum, with prices falling into the consolidation zone. Data-driven forex trading can help manage AUD volatility.
NZDUSD
The Kiwi is testing consolidation boundaries. MACD and RSI indicate rising selling momentum. A break below support could confirm bearish momentum. Scalping bots for forex may aid in short-term trading.
EURUSD
Euro is consolidating, showing bearish momentum. EMA 200 suggests a bullish hold, but MACD and RSI indicate a weakening Euro. Cross-currency trading strategies should factor in potential declines.
USDJPY
The Yen remains strong, driven by the BOJ’s hawkish stance. RSI suggests overbought conditions, pointing to a possible retracement. Best brokers for MetaTrader offer insights on USDJPY fluctuations.
USDCHF
Franc rebounded after Trump’s tariff threats. RSI suggests overbought conditions, with MACD supporting bullish movement. Long-term forex plans should account for USDCHF’s risk potential.
USDCAD
Canadian Dollar is consolidating ahead of tariff decisions. MACD and RSI indicate neutrality, but USD strength could push USDCAD higher. Data-driven forex trading is essential for managing risk.
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)
Leveraging best brokers for MetaTrader ensures access to advanced tools for data-driven forex trading. Traders focusing on cross-currency trading should adjust strategies accordingly.