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GBPJPY, 15-minute timeframe chart GBPJPY formed a bearish Engulfing pattern 👉Level explanation GBPJPY has been trading in a sideways market for the last couple of hours. The pair moved up to the resistance level of 192.300. Now, the price displays a bearish Engulfing pattern. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 191.910. Set your stop loss at 192.380 above the previous high ($3.02 loss for 0.01 lot) and take profit at 191.440 ($3.02 profit for 0.01 lot). The risk-reward ratio for this order is 1:1. The upcoming news will not influence your orders within the mentioned period.

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📊 Gold continues rising Gold (XAU) jumped 1.34% on Tuesday as safe-haven demand increased amid uncertainty about U.S. President Donald Trump's potential trade tariffs. 👉 Possible effects for traders Yesterday, XAUUSD broke above the important $2,720 level and reached a two-month high. Investors rushed in to buy gold, feeling uneasy about the future of the global economy in case Trump's administration implements new trade restrictions. 'Today's move has largely been about the threat of U.S. blanket tariffs following Trump's inauguration. The information with respect to potential tariffs has only come in at a trickle', said Daniel Ghali, commodity strategist at TD Securities. Yesterday, Trump hinted that the administration may introduce import duties on Canadian and Mexican goods on 1 February. Furthermore, investors remember that during the first year of Trump's first administration in 2017, the gold price rose by 13%, which was its best annual performance in seven years. Trump's proposed policies are largely considered inflationary, potentially prompting the Federal Reserve (Fed) to maintain higher interest rates for an extended period to control inflation. XAUUSD was rising during the Asian and early European trading sessions. Today, the economic calendar is rather uneventful. However, a number of central bankers will be giving speeches during the World Economic Forum in Davos, so the market may experience unexpected volatility. It may particularly affect interest-rate-sensitive assets like gold as investors will react to officials' commentary on monetary policy and the global economic outlook. 'Spot gold may retrace into a range of $2,719 to $2,728 per ounce, as suggested by its wave pattern and the bearish divergence on the hourly RSI', said Reuters analyst Wang Tao. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

📊 Euro remains oversold The euro (EUR) gained 0.14% against the U.S. dollar (USD) during a rather choppy trading session on Tuesday as markets faced the uncertainty surrounding tariffs President Donald Trump may implement. 👉 Possible effects for traders 'Volatility is clearly back in a big way, and after the relatively calm term of Joe Biden, FX markets are on a hair trigger for any tariff talk from the Trump administration', said Helen Given, FX trader at Monex USA. However, any new changes in the U.S. trade policy will likely be implemented only gradually. Although Trump highlighted the possibility of a universal tariff introduction, he also said that the U.S. wasn't ready for it yet. Meanwhile, other officials said that new taxes would be imposed in a measured way. The eurozone is the U.S.'s major trade partner, and its currency is highly sensitive to any changes in trade relations. New tariffs can significantly impact export volumes and economic growth within the eurozone, subsequently affecting the euro's value. 'What you're seeing here, too, is just how crowded long dollar positioning is. All you need is some ambiguity on the tariff front, and you get these kinds of moves', said Erik Bregar, director of FX & precious metals risk management at Silver Gold Bull. According to the latest CFTC Commitment of Traders Report, the euro is one of the most oversold currencies among the majors. As of 14 January, large speculators were holding 225,000 net-short contracts in euro futures, an almost two-year record. Therefore, EURUSD may potentially rebound soon as there are currently too many short positions that may be closed at any moment. EURUSD was relatively flat during the Asian and early European trading sessions. Today, the formal macroeconomic calendar is rather uneventful. However, Christine Lagarde, the president of the European Central Bank, will give a speech at the World Economic Forum at 3:15 p.m. UTC. Hawkish remarks will probably push EURUSD higher, possibly above 1.04580. Conversely, a dovish tone may bring EURUSD down towards the major support level at 1.03550. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

📊 Australian dollar is under bearish pressure The Australian dollar (AUD) lost 0.05% against the U.S. dollar (USD) during Tuesday's very volatile trading session. 👉 Possible effects for traders Initially, AUDUSD declined towards the 0.62000 level but later recouped all the losses and finished the day essentially unchanged. Like other currencies, AUD is under pressure due to the uncertainty surrounding U.S. President Donald Trump's potential trade tariffs. While Trump didn't mention Australian goods as a target for his new trade restrictions, the implementation of a universal tariff may affect AUDUSD. Fundamentally, a downward pressure on AUDUSD also stems from the divergence in monetary policy expectations between the Reserve Bank of Australia (RBA) and the Federal Reserve (Fed). Cooling underlying inflation in Australia has increased the chances of RBA cutting interest rates next month. According to Reuters, traders currently see a 78% probability of a 25-basis-point rate reduction at the February meeting. AUDUSD was falling during the Asian and early European trading sessions. Today, the economic calendar is rather uneventful. Still, traders should monitor a number of central bankers' speeches at the World Economic Forum in Davos. Some unexpected volatility could affect markets, particularly risk-sensitive currencies like AUD. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

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📊 Gold rises as the U.S. dollar weakened after Trump's inauguration Gold (XAU) price rose by 0.24% on Monday, supported by a weaker U.S. dollar (USD), as markets evaluated the possible economic impact of U.S. President Donald Trump's policies after his inauguration. 👉 Possible effects for traders 'I believe Donald Trump (presidency) will result in higher market volatility. This should continue to support safe-haven assets like gold', UBS analyst Giovanni Staunovo said. At the same time, Trump's policies also may put a bearish pressure on metals. His new trade tariffs and immigration policy might stimulate inflation, prompting the Federal Reserve (Fed) to keep rates higher for longer and reducing the appeal of non-yielding gold. Trump considers 10% tariffs on global imports, 60% on Chinese goods, and 25% import surcharge on Canadian and Mexican products. If implemented, these tariffs will increase import prices, pushing the U.S. Consumer Price Index (CPI) higher. Currently, the market expects the Fed to deliver only one or two rate cuts in 2025 due to inflation risk. XAUUSD was rising strongly during the Asian and early European trading sessions as the U.S. dollar weakened. There has been growing speculation that Trump would impose new tariffs on the first day of his presidency. Today's drop in USD is likely due to a relief that Trump hasn't focused on tariffs thus far. The formal macroeconomic calendar is rather uneventful today, but traders should continue monitoring the development in Washington as Trump signs more executive orders. 'Spot gold may break resistance at $2,728 per ounce and rise into the $2,738 to $2,754 range', said Reuters analyst Wang Tao. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

📊 Euro remains under bearish pressure The euro (EUR) jumped by 1.39% against the U.S. dollar (USD) on Monday after it became clear that Donald Trump's administration won't immediately impose trade tariffs. This prompted a rally in some U.S. trade partners' currencies, including the eurozone. 👉 Possible effects for traders Market participants had been expecting Trump to announce trade tariffs via executive orders right after his inauguration. Such a move would have increased U.S. inflation expectations, prompting the Federal Reserve (Fed) to slow or even pause its rate-cutting campaign. However, no new tariffs were announced, and the U.S. dollar immediately plunged, following a 'buy the rumours, sell the news' dynamic. 'There is a relief rally in foreign currencies right now. Even though Trump didn't specify, it's very clear that when he says that the U.S. is going to be a big auto manufacturer, he's talking about tariffs. So whether he imposes them on Day 1, or Day 5, or Day 10, I'm not sure it makes that much of a difference', said Marc Chandler, chief market strategist at Bannockburn Global Forex. Talking to reporters on Monday, Trump said he would remedy the trade imbalance between the U.S. and the eurozone either through tariffs or by Europe buying more U.S. oil and natural gas. EURUSD was falling during the Asian and early European trading sessions. The strategy of selling the rallies in EURUSD, which has been in place since early November, appears to work well. Fundamentally, the eurozone economy continues to face challenges such as high energy costs and deindustrialisation, while the European Central Bank (ECB) is expected to pursue a more dovish monetary policy in 2025 compared to the Fed. The macroeconomic calendar is rather uneventful today, but traders should pay attention to the development in Washington as Trump signs more executive orders. Key levels to watch are resistance at 1.04470 and support at 1.03550. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

📊 USDCAD seems to find support The Canadian dollar (CAD) gained 1.22% against the U.S. dollar (USD) on Monday as the greenback weakened after it became clear that Donald Trump's new administration won't immediately impose trade tariffs. 👉 Possible effects for traders USDCAD declined yesterday due to what traders call a 'relief rally'. The market has been widely expecting Trump to announce new trade tariffs as soon as he takes office. He didn't, and the bull bets on the U.S. dollar were immediately closed, prompting a rally in other currencies. Still, CAD continues to face devaluation risks. On Monday, Donald Trump said he was thinking of imposing 25% tariffs on imports from Canada and Mexico because 'they were allowing many people to cross the border as well as fentanyl'. Indeed, according to Goldman Sachs, the oil market is already pricing in a nearly 40% probability of 25% U.S. tariff on Canadian goods, including oil. If implemented, tariffs will almost certainly have a bullish impact on USDCAD. At the same time, because the pair is already near its new multi-year highs, it's relatively risky to expect a further rise. USDCAD was rising during the Asian and early European trading sessions and almost recovered all yesterday’s losses. Today, traders should continue monitoring Washington's development and more executive orders Trump signs. In addition, Canadian inflation data will come out at 1:30 p.m. UTC. Higher-than-expected figures may trigger another bearish correction in USDCAD. Conversely, lower-than-expected results may pull the pair towards a new multi-year high. Key levels to watch are resistance at 1.45410 and support at 1.43600. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

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#economic_calendar These events may affect the market on 21 January.