Current Market Trends

GOLD - Gold (XAUUSD) has broken through its previous all-time high and is now creating new highs within our demand zone. We anticipate gold to continue rising but are waiting for a better entry point. Gold prices indicate increasing confidence in safe-haven assets as a way to protect wealth amid global insecurity.

SILVER - Silver has climbed following yesterday's trading. We continue to anticipate a bullish trend for silver and are watching for further price action to break above 31.472.

DXY - The DXY recovered slightly with one candle after retail sales m/m showed a decline to 0%—better than the forecasted -0.3%. Core retail sales grew to 0.4% from last month's 0.1%, surpassing forecasts. However, this growth did not change traders' anticipation of a bearish run, as the dollar quickly lost its footing. Prices remain consolidated between 104.607 and 104.084.

GBPUSD - The pound is trading steadily near 1.29966, and we anticipate further bullish runs after a technical correction or consolidation. We are approaching a good setup for a continuation, especially with the expectation of rate cuts.

AUDUSD -The Aussie dollar remains above 0.67142 after a slight dip below 0.67531 following retail sales news, which showed better-than-expected results. We still expect a bullish run as buying structures are respected.

NZDUSD - The Kiwi (NZD) lost ground yesterday after reaching 0.60455, which was quickly rejected by price action. It has since moved back into the normal trading zone above 0.60847. We are waiting for further price action but already anticipate a bearish run as structures are starting to look bearish.

EURUSD - The EURUSD is still trading at 1.08950. We anticipate a potential downward move due to political uncertainty but see a bullish trend technically. We remain cautious in trading this market but will react accordingly.

USDJPY - The yen hasn't moved much since yesterday's trading. The price has slightly risen above 158.255 but has not shown significant movement yet. The weakness in the yen is still evident, but due to their now hawkish stance on monetary policies, we anticipate a stronger yen in the near future.

USDCHF -The CHF continues to show minimal price action, moving sideways. We anticipate the price to move downward as the bearish trend persists.

USDCAD -The CAD slipped against the dollar after the CAD CPI showed a decline, increasing anticipation for another rate cut. Currently, the price is trading slightly above 1.36612 and possibly moving towards 1.37261.

COT Reports Analysis

CAD - Weak (2/5)

CHF - WEAK (5/5)

GBP - Strong (5/5)

JPY - Weak (5/5)

EUR - Strong (3/5)

AUD - Strong (5/5)

NZD - Weak (3/5)

USD - Strong (2/5)

Silver - Strong (5/5)

Gold - Strong (5/5)