Technical My Tips

#economic_calendar These events may affect the market on 7 February.

BoE Impact 👍🔥🔥

BOC Impact 👍

BOE Interest Rate Decision 📈 🕗Today At 5:30PM (IST) 💥Don’t Miss the Opportunity💥 🍀BE READY WITH YOUR DEPOSIT 🔥

BTCUSD, 30-minute timeframe chart BTCUSD formed a bullish Triangle pattern 👉General outlook BTCUSD has been trading in a sideways market within the last day. Now, the price displays the Triangle pattern. 👉Possible scenario The best way to use this opportunity is to place a Buy order at 98,781.84. Set your stop loss at 97,628.84 below the previous low ($11.53 loss for 0.01 lot) and take profit at 99,934.84 ($11.53 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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USDJPY, 15-minute timeframe chart USDJPY pulled back from the resistance level of 152.900 👉General outlook USDJPY has been trading in a bullish trend for the last couple of hours. The pair rose to the resistance level of 152.900. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 152.628. Set your stop loss at 153.199 above the previous high ($3.74 loss for 0.01 lot) and take profit at 152.058 ($3.74 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.

📊 Gold continues rising The gold (XAU) price rose by 0.81% on Wednesday as investors continued to flock to safe-haven assets amid escalating concerns about the economic impact of a potential U.S.–China trade war. Also, weaker-than-expected U.S. macro statistics gave bullion an additional boost. 👉 Possible effects for traders Gold continues to be largely influenced by trade uncertainties—the tariffs with China and the retaliation has the market on edge, so safe-haven flows remain the dominant factor', said Peter Grant, vice president and senior metals strategist at Zaner Metals. In response to U.S. actions, China imposed its own tariffs on U.S. goods earlier this week as the U.S. President showed no interest in engaging with Chinese President Xi Jinping to mitigate the tensions. Economists largely agree that trade tariffs could drive U.S. inflation higher, making the Federal Reserve (Fed) more likely to hold its base interest rate higher for longer. At the same time, yesterday's U.S. ISM Services report came out much weaker than expected, improving the chances for an additional interest rate cut later this year. Overall, while the strong U.S. dollar and still relatively hawkish Fed exert downward pressure on XAUUSD, geopolitical uncertainty continues to push investors into safe-haven assets. XAUUSD was rising slightly during the Asian and early European trading sessions. Today, the formal macroeconomic calendar is relatively uneventful, but traders should monitor the news for any developments regarding U.S.-China trade relations. In addition, the Jobless Claims report at 1:30 p.m. UTC may spur some extra volatility. Lower-than-expected figures will likely have a slight bearish impact on XAUUSD, while higher-than-expected results may help the pair retest recent highs. 'Spot gold may rise to $2,934 per ounce, as suggested by a projection analysis and a rising channel', said Reuters analyst Wang Tao. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

📊 Euro rises slightly on weakened U.S. dollar The euro (EUR) gained 0.24% against the U.S. dollar (USD) on Wednesday as the greenback weakened following lower-than-expected U.S. ISM Services Index figures. 👉 Possible effects for traders Also, the absence of a U.S. response to China's newly imposed import tariffs may have contributed to a belief among some investors that a full-scale trade war could be avoided. This may have led some traders to close their long positions in the U.S. dollar, helping the euro recover. 'Markets continuing to price out tariff risks from FX markets', said Nick Rees, head of macro research at Monex Europe. Still, the eurozone economy remains deeply troubled, with little sign of a significant turnaround. Yesterday, French and Spanish Services Purchasing Managers' Indices (PMIs) came out weaker than expected. The data raised concerns about a potential slowdown in Europe's non-manufacturing sector, which has been a key driver of the eurozone economy's growth lately. Earlier today, EURUSD fell during the Asian and early European trading sessions. Traders should pay attention to any developments regarding U.S.–China trade relations. In addition, the German Factory Orders report at 7:00 a.m. UTC and Jobless Claims data at 1:30 p.m. UTC may heighten volatility. Technically, a failure to close above the key 1.04000 level means that bearish sentiment continues to dominate in EURUSD. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

📊 Canadian dollar rises after a pause in U.S. trade tariffs The Canadian dollar (CAD) gained 0.1% yesterday after Canada won a reprieve from U.S. trade tariffs. 👉 Possible effects for traders Overall, USDCAD has been one of the most volatile Forex pairs lately. Trade tensions between the U.S. and Canada created significant uncertainty, impacting investor confidence and driving rapid price movements in the pair. However, despite a few substantial swings, USDCAD seems to have stabilised as Donald Trump paused the implementation of new tariffs and gave way to negotiations. Tariff worries are easing—for now, at least—allowing the CAD to stabilise. Unless trade talks deteriorate significantly again, there is a chance that the USDCAD peak reached Monday near 1.48 will represent a significant high-water mark for spot', said Shaun Osborne, chief currency strategist at Scotiabank. In addition, Canada Statistics reported yesterday that the country has managed to achieve a trade surplus for the first time in 10 months, as exports expanded faster than imports. The news may have also contributed to the USDCAD decline. Earlier today, USDCAD was rising during the Asian and early European trading sessions. Today, the formal macroeconomic calendar is relatively uneventful, but traders should monitor the news for any developments regarding U.S.–China trade relations. Also, Jobless Claims data due at 1:30 p.m. UTC may spur some extra volatility in the market. However, the major event for the USDCAD traders is tomorrow's Labour Force Survey report. Most traders will focus on the change in employment over the past month. Higher-than-expected figures may push USDCAD below 1.42200, whereas lower-than-expected results may prolong the bullish trend in USDCAD. Sign Up Now ➡️https://bit.ly/attocta Partner Code ➡️ 3788810

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BOE Interest Rate Decision 📈 🕗Today At 5:30PM (IST) 💥Don’t Miss the Opportunity💥 🍀BE READY WITH YOUR DEPOSIT 🔥