Daily Price Outlook

- Bullish Reversal: Engulfing candle signals potential upside.

- Momentum Shift: RSI recovering from oversold territory.

- Critical Resistance: $1.12937 remains a key barrier for bulls.

EUR/USD has staged a sharp recovery from the $1.11990 support, forming a bullish engulfing candle that signals potential upside.

The pair is now approaching the $1.12701 pivot point, with the 50 SMA at $1.12937 acting as immediate resistance. This area aligns closely with the recent breakdown level, making it a critical test for bullish momentum.

If buyers can push through this zone, the next resistance is at $1.12809, followed by a more significant barrier around $1.13058.

Technically, the RSI is climbing from oversold levels, currently at 44.81, indicating a potential momentum shift. The recent series of higher lows adds to the bullish case, suggesting the pair may attempt a larger recovery.

However, the overall trend remains bearish, as the 50 SMA continues to cap gains, and a break below $1.12332 could expose the pair to deeper losses toward $1.11990 and $1.11683.

In the short term, a move above the 50 SMA at $1.12937 is needed to confirm a more meaningful recovery, potentially opening the door to $1.13361.

However, failure to clear this barrier could see the pair resume its broader downtrend, with the $1.11990 support acting as a critical floor.

A sustained move above $1.12701 could trigger a push toward $1.12809, while a drop below $1.12332 risks a retest of $1.11990.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.12332

Take Profit – 1.12809

Stop Loss – 1.11990

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$477/ -$342

Profit & Loss Per Mini Lot = +$47/ -$34

Daily Price Outlook

- Trendline Support: 5630 holds as a critical base.

- Momentum Fading: Recent spinning top near 5720 suggests buyer hesitation.

- Resistance Cluster: 5720 to 5785 remains a key barrier for further gains.

The S&P 500 is currently trading around 5663, holding above a critical trendline that has defined the broader uptrend since mid-March. The 50 SMA at 5630 is acting as immediate support, aligning closely with the rising trendline, reinforcing the short-term bullish structure.

However, the recent rejection near 5720, coupled with a bearish engulfing pattern, suggests a potential pullback as buyers struggle to break through this key resistance zone.

Technically, the RSI is at 53.02, showing a slight decline after briefly pushing above 60, indicating a loss of near-term momentum.

The index also formed a spinning top near 5720, reflecting market indecision. This level aligns with a key horizontal resistance, marking the upper bound of a recent consolidation range.

If prices can clear 5720, the next significant resistance stands at 5785, potentially opening the path to a broader rally. On the downside, a break below 5630 could expose the index to deeper losses, with immediate support at 5575 and a more substantial floor around 5515.

Overall, the S&P 500 remains in a cautiously bullish structure, but the recent rejection at 5720 highlights the need for a decisive breakout to confirm further upside.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5630

Take Profit – 5720

Stop Loss – 5575

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$900/ -$550

Profit & Loss Per Mini Lot = +$90/ -$55

Daily Price Outlook

- Trendline Support: $3,300 holds as a critical base.

- Momentum Building: Higher lows signal potential recovery.

- Resistance Cluster: $3,352 to $3,385 remains a critical barrier.

Gold is attempting to recover after finding support at $3,300, aligning with a key ascending trendline that has held since late April. This level coincides with a psychological support zone, providing a potential base for a bullish rebound.

The 50 SMA at $3,355 is acting as immediate resistance, with the next target at $3,352, followed by a more significant barrier at $3,357.

If prices can clear this zone, a move toward $3,385 is possible. However, a break below $3,300 could expose the metal to a deeper decline toward $3,273, aligning with the broader trendline support.

The RSI is currently at 46.68, indicating a neutral stance but with room for further upside if momentum picks up. The recent higher lows pattern suggests building bullish momentum, but the 50 SMA still caps near-term gains.

Notably, the recent candlestick pattern shows a mix of spinning tops and small-bodied candles, reflecting market indecision as traders await a clearer direction.

A break above $3,352 could trigger a push toward $3,385, while a drop below $3,300 risks a retest of $3,273. Traders should watch for a decisive move to confirm the next trend.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above $3300

Take Profit – $3352

Stop Loss – $3273

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$5200/ -$2700

Profit & Loss Per Mini Lot = +$520/ -$270

Daily Price Outlook

- Bearish trendline break confirms potential downside.

- RSI remains above oversold levels, allowing for further selling pressure.

- Key support at $0.63855 is the next target if downside momentum persists.

The AUD/USD pair is currently trading around $0.64122, breaking below a critical ascending trendline that had supported the recent bullish structure. This trendline breach, combined with the drop below the 50-hour simple moving average (SMA) at $0.64670, indicates a potential bearish reversal.

The price action has formed a clear bearish engulfing candle, confirming the downward momentum, while the RSI is hovering near 36.73, signaling increasing bearish pressure but not yet oversold.

The break below the ascending trendline and 50-hour SMA signals a potential bearish continuation, with a possible sell entry below $0.64211, targeting the $0.63855 support. A protective stop-loss above $0.64436 helps manage risk in case of a bullish rebound.

Traders should watch for a potential three black crows pattern, signaling continued bearish dominance if the next few candles close lower.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.64211

Take Profit – 0.63855

Stop Loss – 0.64436

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$356/ -$225

Profit & Loss Per Mini Lot = +$35/ -$22

Daily Price Outlook

- Immediate selling pressure below $3,350 could expose $3,300.

- RSI remains in oversold territory, suggesting caution for buyers.

- A close below $3,301 confirms bearish control, potentially targeting $3,265.

Gold is trading near $3,337, struggling to hold the 50-hour simple moving average (SMA) at $3,384 after a sharp rejection from the 23.6% Fibonacci retracement level at $3,381.

The price is currently testing the 50% Fibonacci retracement at $3,325, a critical support level, with the 61.8% level at $3,301 acting as a potential next downside target if selling pressure continues.

The short-term outlook remains bearish, with a potential sell entry below $3,350 targeting $3,300, while a protective stop-loss above $3,382 reduces downside risk.

A close below the 61.8% level at $3,301 could accelerate the decline toward the $3,265 support, completing a potential three black crows pattern on lower timeframes, confirming further weakness.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3350

Take Profit – 3300

Stop Loss – 3382

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$5000/ -$3200

Profit & Loss Per Mini Lot = +$500/ -$320

Daily Price Outlook

- USD/JPY maintains a bullish structure above the 50-period SMA, targeting 145.110.

- RSI at 69.82 signals strong momentum without immediate overbought risk.

- The pair needs to clear 144.640 for a sustained breakout, with downside risk contained at 143.424.

USD/JPY is trading around 144.389, maintaining its upward momentum within a well-defined ascending channel on the 1-hour chart. The pair has recently cleared the 50-period Simple Moving Average (SMA) at 143.242, reinforcing the bullish structure.

This move above the 50 SMA indicates strong buying interest, as this level often acts as a dynamic support in trending markets.

From a price action perspective, the recent candles have formed a sequence of higher lows, confirming the bullish trend.

The sharp upward move from the 143.000 region has been supported by a bullish engulfing candle, which provided the initial breakout above the 143.242 support.

This bullish momentum has carried the price towards the critical resistance at 144.640, the upper boundary of the ascending channel.

A successful break above this level could open the door to the next major resistance at 145.110, aligning with the take profit target.

Momentum indicators further support the bullish outlook. The Relative Strength Index (RSI) has surged to 69.82, indicating strong positive momentum, but without yet entering the overbought territory, suggesting room for further upside.

Additionally, the 50-period SMA remains a key support level, currently holding the bullish structure intact.

However, a failure to break above 144.640 could lead to a pullback towards the 144.002 mid-channel support or even the critical 143.424 stop loss level, where buyers are expected to re-enter aggressively.

USD/JPY - Trade Ideas

Entry Price – Buy Above 144.078

Take Profit – 145.110

Stop Loss – 143.424

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1032/ -$654

Profit & Loss Per Mini Lot = +$103/ -$65

Daily Price Outlook

- Gold is forming a rising trendline, reinforcing bullish sentiment.

- RSI indicates potential overbought conditions, suggesting caution.

- A break above $3,430 could signal a fresh bullish leg toward $3,450.

Gold is trading near $3,393, consolidating just above the 23.6% Fibonacci retracement at $3,381, a key level after its recent bullish surge.

The 50-day Simple Moving Average (SMA) at $3,302 is providing a robust support base, aligning with the 61.8% Fibonacci level at $3,301, reinforcing the bullish structure.

The recent uptrend is marked by a series of higher lows, supported by a rising trendline from late April, indicating continued buying interest.

Candlestick analysis reveals a potential Doji near the $3,393 resistance, reflecting market indecision at this critical level.

A break above this zone could pave the way for a rally toward the next resistance at $3,430, followed by the psychological $3,450 mark, aligning with the recent swing high.

However, a failure to clear this resistance could trigger a pullback toward the 38.2% Fibonacci level at $3,350, with deeper support at $3,326 and $3,302, the latter aligning with the 50-SMA.

Momentum indicators are mixed. The Relative Strength Index (RSI) is hovering near 71, suggesting overbought conditions, which may prompt short-term profit-taking.

However, the overall trend remains bullish as long as prices hold above the key support at $3,348, a critical pivot point.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3380

Take Profit – 3450

Stop Loss – 3348

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$7000/ -$3200

Profit & Loss Per Mini Lot = +$700/ -$320

Daily Price Outlook

- EUR/USD forming a potential bullish wedge, supporting recovery.

- RSI indicates moderate strength, supporting further gains.

- Break above $1.1380 needed for a sustained rally.

EUR/USD is trading around $1.1365, consolidating within a descending wedge pattern, a structure typically associated with potential bullish reversals.

The pair is testing the 50-day Simple Moving Average (SMA) at $1.1323, which has acted as dynamic support in recent sessions.

A series of higher lows on the recent bounce from the $1.1265 level suggests building bullish momentum, supported by a minor trendline connecting recent lows.

Candlestick analysis reveals a potential bullish engulfing pattern forming just above the $1.1323 support, reinforcing the bullish case.

However, the pair faces immediate resistance at $1.1380, where a bearish shooting star formed recently, indicating possible short-term selling pressure.

A break above this level could open the door to the next resistance at $1.1421, aligning with the recent swing high. Beyond this, the $1.1452 level stands as a key barrier, representing a critical psychological level for bulls.

The Relative Strength Index (RSI) is currently at 58.75, just below the 60 level, suggesting the pair has room to extend its recovery before entering overbought territory.

However, a break below the immediate support at $1.1323 could trigger a deeper pullback toward $1.1298 or even the critical $1.1265 support, aligning with the lower wedge boundary.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13489

Take Profit – 1.13993

Stop Loss – 1.13157

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$504/ -$332

Profit & Loss Per Mini Lot = +$50/ -$33

Daily Price Outlook

- GBP/USD is maintaining a rising trendline, reinforcing bullish sentiment.

- RSI remains supportive of further gains, with no immediate overbought signals.

- A break above $1.3385 could open the door to $1.3413 and $1.3442.

GBP/USD is trading near $1.3351, maintaining its recent upward momentum within a rising trendline that has supported the pair since early May.

The 50-day Simple Moving Average (SMA) at $1.3324 is providing critical dynamic support, aligning closely with the recent swing low, reinforcing the short-term bullish bias. The pair's steady climb is characterized by a series of higher lows, indicating sustained buying interest.

The recent pullback found support around the $1.3324 level, coinciding with the trendline and the 50-SMA, confirming this as a key pivot zone.

A break above the immediate resistance at $1.3385 could trigger further gains toward the next significant resistance at $1.3413, a level that aligns with a previous consolidation area. Beyond this, the $1.3442 mark represents a major swing high, acting as the next key target for bulls.

The Relative Strength Index (RSI) is currently at 55.86, suggesting mild bullish momentum with room for further upside before hitting overbought levels.

However, a break below the trendline and the $1.3324 support could expose the pair to a deeper correction, potentially targeting the next support at $1.3309, followed by the $1.3258 level.

Entry Price – Buy Above 1.33344

Take Profit – 1.33849

Stop Loss – 1.33099

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$505/ -$245

Profit & Loss Per Mini Lot = +$50/ -$24

Daily Price Outlook

- Breakout from higher low formation and bullish triangle

- Price above 50-SMA with strong momentum and pattern confirmation

- RSI suggests caution, but trend remains in buyers' control

Gold has powered through key resistance at $3,350, breaking above the 50-period SMA ($3,273.07) and pushing into a tight descending triangle structure.

Price is now testing the upper boundary of this triangle, which has consistently held since the late-April rejection near $3,449.

The recent rally began after a firm higher low formation near $3,222, confirming bullish structure within a broader ascending channel.

Candlestick momentum is strong, with a near-vertical series of bullish candles—visually resembling a short-term "three white soldiers" pattern.

This signifies aggressive buyer interest. The RSI reading at 73.79 suggests overbought conditions, but no bearish divergence is present yet. Momentum remains intact, though traders should be cautious of potential exhaustion near the $3,408 resistance.

If the breakout clears $3,409 with conviction, the next targets become $3,449 and $3,499.80. A pullback toward $3,305 would still keep the structure intact if buyers defend that level.

Below that, $3,271 and $3,222 remain deeper support. The risk-reward favors the long side for now, with bullish bias maintained above $3,350.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3350

Take Profit – 3408

Stop Loss – 3305

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$5800/ -$4500

Profit & Loss Per Mini Lot = +$580/ -$450