Daily Price Outlook

- Bearish Pressure Holds: Price remains capped below $1.3912, suggesting continued downside risk.

- Momentum Weak: RSI at 37 confirms limited buying strength.

- Break Below $1.3830: Could accelerate a decline toward $1.3750 and $1.3677.

USD/CAD is trading in a narrow range following an extended downward move, holding below key resistance at $1.3912. This level aligns with a previous consolidation area and coincides with the 1.414 Fibonacci extension of the prior leg. The pair has been unable to break through this ceiling, reinforcing a bearish setup, especially with momentum indicators remaining under pressure.

The 50-period Simple Moving Average (SMA), currently at $1.4076, is sloping downward and far from current price levels, confirming that the medium-term trend remains to the downside. Additionally, the Relative Strength Index (RSI) is at 37.6, with no strong sign of reversal, indicating persistent bearish momentum.

Price continues to test the lower boundary of a short-term consolidation box between $1.3912 and $1.3830, signaling potential for further downside if the lower bound is breached.

If sellers regain control and push below $1.3830, the next support zone comes into focus near $1.3750 — a key Fibonacci projection level. A move beyond that may extend toward $1.3677, where deeper support from the 2.272 extension lies.

As long as price remains below the $1.3912 resistance, short-term bias stays bearish. A break above this level would invalidate the setup and open the way back toward the $1.3965 resistance. Until then, rallies are likely to face selling pressure.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.39126

Take Profit – 1.38034

Stop Loss – 1.39652

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$1092/ -$526

Profit & Loss Per Mini Lot = +$109/ -$52

Daily Price Outlook

- Rejection at Resistance: Price stalls at $0.6391 with signs of a triple top formation.

- Momentum Caution: RSI hovers near 65, suggesting reduced upside potential.

- Downside Targets: $0.6277 and $0.6218 emerge as key support levels if price breaks lower.

AUD/USD is encountering firm resistance near the $0.6391 level, where a potential triple top formation is taking shape. This technical pattern, which indicates repeated failure to move higher, suggests that bullish momentum may be weakening.

Price action has tested this area multiple times over the past few weeks, and the most recent approach was met with renewed selling interest.

The 50-period Simple Moving Average (SMA) is trending higher and currently sits around $0.6218, showing that the short-term structure has improved since the early April low.

However, with the pair approaching a historically strong resistance area, traders may start considering pullback scenarios — particularly if price slips below the $0.6391 neckline of the pattern.

Momentum indicators are signaling caution. The Relative Strength Index (RSI) is at 64.8, just below overbought levels. A decline below the 60 zone could confirm bearish divergence and further support the case for a short-term reversal.

A break below the $0.6391 threshold would shift the focus to $0.6277 as the next target, with potential to extend toward $0.6218 — close to the SMA and previous support.

Unless AUD/USD manages a clean breakout above $0.6444 — invalidating the triple top — the path of least resistance appears tilted to the downside in the near term.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.63912

Take Profit – 0.62768

Stop Loss – 0.64440

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1144/ -$528

Profit & Loss Per Mini Lot = +$114/ -$52

Daily Price Outlook

- Bullish Bias Holds: Gold sustains breakout above $3,168 pivot; eyes $3,255–$3,298 Fibonacci targets.

- Momentum Backed by SMA: 50-SMA at $3,167 continues to offer solid dynamic support.

- RSI Neutral-Bullish: RSI at 61 suggests further room for upside without immediate overbought risk.

Gold prices are exhibiting strong bullish momentum after decisively breaking above the $3,168 Fibonacci pivot level, retracing fully from the April 4 dip near $2,956.

The recent breakout above the 1.0 Fibonacci level at $3,168 has been sustained, with prices consolidating in a tight range just below the $3,255 resistance — the 1.414 Fib extension level. This signals a potential continuation toward the 1.618 extension at $3,298, provided the bullish structure remains intact.

Technically, gold remains supported by the upward sloping 50-period SMA, currently at $3,167. This moving average has acted as a dynamic support since the April rebound began, reflecting the persistent demand for the metal amid geopolitical and inflationary concerns.

Meanwhile, the Relative Strength Index (RSI) is hovering near 61, indicating that while bullish momentum is present, the market is not yet in overbought territory, offering room for further upside.

Immediate support is now observed at $3,206 — aligning with recent consolidation lows — followed by stronger buying interest expected near the $3,168 and $3,123 retracement zones. As long as gold holds above the $3,167 stop-loss threshold, the bullish thesis remains valid.

A breakout above $3,255 could trigger momentum toward the $3,283 and $3,298 resistances, with potential for a further extension to $3,338 should bullish sentiment intensify. However, failure to hold above $3,206 would expose gold to a pullback toward the $3,167-$3,123 support cluster.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3206

Take Profit – 3283

Stop Loss – 3167

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$7700/ -$3900

Profit & Loss Per Mini Lot = +$770/ -$390

Daily Price Outlook

- EUR/USD trades well above the 50 EMA, maintaining bullish strength

- RSI near 70 warns of potential short-term pullback

- Key breakout above $1.13960 opens the door to $1.14895 and $1.15533 targets

The euro continues its strong upward trajectory against the dollar, trading around $1.14158 after breaking above the psychological $1.13960 pivot. The bullish trend remains intact, supported by a steep ascending structure and consistent higher highs. Price action has extended well beyond the 50 EMA ($1.10505), underlining bullish dominance.

Immediate resistance lies at $1.14661, and a break above could expose $1.14895, the next logical technical target. Beyond that, $1.15533 becomes relevant based on the 2.618 Fibonacci extension.

On the downside, $1.13330 serves as immediate support, followed by $1.13015 and $1.12505. The Relative Strength Index at 70.50 suggests momentum remains elevated, though near-term exhaustion is possible. Traders should monitor potential profit-taking around $1.14895.

The bullish setup remains favorable as long as EUR/USD holds above $1.13960. A confirmed break above resistance could fuel further upside, but overbought signals may prompt a brief pause or consolidation.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13960

Take Profit – 1.14895

Stop Loss – 1.13330

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$935/ -$630

Profit & Loss Per Mini Lot = +$93/ -$63

Daily Price Outlook

- Breakout above $1.31025 strengthens bullish outlook

- RSI in overbought zone signals momentum, but caution warranted

- Trendline structure and SMA support the upward bias

The British pound has resumed its climb against the U.S. dollar, currently trading at $1.31659 after holding the uptrend support. The pair broke above the critical $1.31025 pivot level, turning it into new support and validating a bullish continuation setup.

RSI is above 73, suggesting buying momentum remains elevated, although price is now flirting with overbought conditions.

Price action is aligned with a rising trendline, and as long as that structure holds, the bullish case toward $1.32078 remains valid. If this resistance breaks convincingly, GBP/USD could extend to $1.32697, and potentially toward the psychological barrier at $1.33236. A pullback below $1.31025, however, would expose the market to deeper corrections toward $1.30387 and $1.29847.

The technical setup favors a bullish bias as long as price stays above $1.31025. Traders may consider initiating long positions on a sustained break, aiming for $1.32078 while managing risk tightly below $1.30387.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.31025

Take Profit – 1.32078

Stop Loss – 1.30387

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1053/ -$638

Profit & Loss Per Mini Lot = +$105/ -$63

Daily Price Outlook

- Gold tests $3,255 resistance after clean breakout above $3,206

- Overbought RSI may trigger short-term pause or consolidation

- Next upside targets lie at $3,283 and $3,298 if momentum holds

Gold (XAU/USD) is extending its bullish momentum, currently hovering near the $3,232 level after decisively breaking past the $3,206 pivot. The uptrend remains firmly intact, supported by strong price action and a 50 SMA rising below current levels at $3,096. The market is now testing resistance at $3,255.39, a key Fib extension level, with upside potential toward $3,298.43 if buyers maintain control.

However, RSI at 70.82 signals overbought conditions, suggesting the rally could stall or consolidate before pushing higher. If the price fails to clear $3,255, we could see a retest of $3,206 or deeper toward $3,167, which now serves as a key downside risk level.

Gold remains bullish above the $3,206 breakout point. A sustained close above this level keeps the upside bias toward $3,283 and $3,298, with caution warranted as RSI stretches into overbought territory.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3206

Take Profit – 3283

Stop Loss – 3167

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$7700/ -$3900

Profit & Loss Per Mini Lot = +$770/ -$390

Daily Price Outlook

- S&P 500 holds key support at 5,211, eyeing breakout above 5,345.

- RSI stabilizing near 50 suggests momentum reset.

- Watch 5,433 as crucial trend resistance to reclaim.

The S&P 500 is attempting to stabilize after its recent selloff, now consolidating around 5,268. A modest bounce from the 5,200 zone has brought the index back into a key technical confluence near the descending trendline and the 50-period SMA at 5,433. This area is critical, as it marks a cluster of resistance from both a structural and moving average standpoint.

The index remains range-bound between 5,208 and 5,345, with short-term buyers showing interest above 5,211 support. The RSI at 49.76 reflects a neutral momentum tone, suggesting potential for either a breakout or more consolidation.

A sustained move above 5,345 would expose the next key resistance at 5,400, while a failure to clear this level could see the index revisiting 5,211 and possibly 5,108.

Price structure suggests a higher low is forming near 5,200, with the broader uptrend still technically intact as long as the ascending trendline holds. The 50 SMA, currently at 5,433, will act as a key barrier for bulls to reclaim in order to shift sentiment more decisively upward.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5208

Take Profit – 5400

Stop Loss – 5108

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$1920/ -$1000

Profit & Loss Per Mini Lot = +$192/ -$100

Daily Price Outlook

- Gold stalls near $3,219 Fibonacci resistance as RSI signals overbought.

- Short-term correction likely if $3,219 fails to break cleanly.

- Break below $3,160 may trigger drop toward $3,095.

Gold (XAU/USD) continues to climb, extending its rally to a session high of $3,213.16 before cooling slightly to $3,208.71. Price action is pushing against a significant resistance zone at $3,219, which aligns with a key Fibonacci retracement level.

While momentum remains bullish, traders should be cautious of a short-term pullback as the RSI at 74.14 signals overbought conditions and a potential bearish divergence.

The metal is trading well above its 50-period EMA at $3,065.10, reinforcing the strength of the uptrend. However, a rejection near the $3,219 resistance could trigger a corrective move. The key pivot support sits at $3,160, a level that previously acted as both resistance and now flipped to potential support.

Immediate resistance is marked at $3,219, with higher targets at $3,252 and $3,338 should bullish momentum continue. On the downside, a break below $3,160 could open the door toward $3,124 and further to $3,095.

Given the strong advance, traders may look for a reversal pattern near $3,219 for a potential short entry. A break below the $3,160 pivot would confirm near-term bearish pressure and shift sentiment toward consolidation.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3219

Take Profit – 3160

Stop Loss – 3252

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$5900/ -$3300

Profit & Loss Per Mini Lot = +$590/ -$330

Daily Price Outlook

- EUR/USD breaks higher above $1.12804 with momentum favoring bulls

- RSI suggests short-term overbought risks—watch for minor pullbacks

- Targeting $1.14111 with key support now forming at $1.12804

EUR/USD continues its bullish breakout, pushing toward the $1.13830 region after clearing the key $1.12804 pivot. The pair is riding a strong upside channel, supported by a steep RSI climb currently at 76.22—well into overbought territory. Still, momentum remains in the bulls’ favor following yesterday’s soft U.S. inflation data, which weighed on the dollar and bolstered euro demand.

Price is now pressing against immediate resistance near $1.13830, with the next target at $1.14111. A sustained break above this level could expose the $1.14483 zone. On the downside, $1.12804 now acts as a critical support level, and below that, $1.12021 is the line in the sand for short-term bulls.

Technically, the pair is well supported above the 50 SMA, currently at $1.10382, and has room to run if risk sentiment stays upbeat. However, with RSI flashing overbought, traders should be cautious of short-term pullbacks or profit-taking near the highs. Momentum remains strong but needs confirmation through a daily close above $1.14111.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.12804

Take Profit – 1.14111

Stop Loss – 1.12021

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1307/ -$783

Profit & Loss Per Mini Lot = +$130/ -$78

Daily Price Outlook

- USD/JPY consolidates below major resistance at 148.08.

- 50 EMA at 146.43 acts as a key support level.

- Neutral RSI suggests a wait-and-see mode for traders.

USD/JPY is trading near 146.74 after slipping below the 147.00 threshold, with resistance at 148.08 capping recent gains. Despite an earlier push higher, the pair has retreated toward the 146.64 pivot zone, which now acts as a key inflection point.

The 50 EMA at 146.43 provides nearby support, and a sustained move above 148.08 would be needed to signal bullish continuation toward 148.98 and potentially 150.53.

On the downside, 146.43 is the level to watch. A break below exposes the pair to further losses toward 145.86 and 144.97. The RSI reads 52.72, suggesting neutral-to-bullish momentum, though upside conviction remains soft.

Price is currently rangebound, with traders awaiting cues from upcoming U.S. inflation data and broader risk sentiment shifts. Unless USD/JPY breaks through 148.08, buyers may remain sidelined.

Momentum is tentative. A move above 148.08 may revive bullish sentiment, but holding above 146.64 is critical for near-term upside.

USD/JPY - Trade Ideas

Entry Price – Buy Above 146.640

Take Profit – 148.084

Stop Loss – 145.867

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1444/ -$773

Profit & Loss Per Mini Lot = +$144/ -$77