Daily Price Outlook

On October 16, the EUR/USD currency pair marked a value of 1.05248, illustrating a marginal ascent of 0.20%. Over a four-hour chart timeframe, critical data points emerge, illuminating potential future movements.

Starting with pivotal data points, the pair's current pivot point stands at 1.05495. Looking ahead, resistance levels manifest at 1.06018, 1.06912, and 1.07457. Conversely, support tiers for the asset are marked at 1.04558, followed closely by 1.04035 and extending to 1.0312.

Delving into the technical indicators, the Relative Strength Index (RSI) registers at 41, which, while not indicating overbought conditions, suggests the pair is leaning toward the bearish spectrum. The Moving Average Convergence Divergence (MACD) showcases a value of -0.0009, with its signal counterpart at -0.0014. This alignment hints at the MACD line having recently ventured above the signal line, insinuating possible upcoming bullish momentum.

Furthermore, the 50-Day Exponential Moving Average (EMA) posts a value of 1.05601. Interestingly, the current price lies below this EMA value. Traditionally, when a price positions itself below the 50 EMA, it often indicates a short-term bearish trend. Therefore, traders should tread cautiously and monitor subsequent movements closely.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.05570

Take Profit – 1.04839

Stop Loss – 1.05968

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$731/ -$398

Profit & Loss Per Micro Lot = +$73/ -$39

Daily Price Outlook

As of October 13, Gold is exhibiting intriguing dynamics on the technical front. Currently priced at $1877, it has experienced a 0.48% uptick within a 24-hour window. Analyzing a 4-hour chart timeframe, pivotal price markers have come to the fore.

A pivot point stands established at $1869. On the resistance spectrum, the initial resistance resides at $1881, followed by subsequent resistances at $1901 and $1916. Conversely, immediate support is delineated at $1854, with ensuing support levels at $1835 and $1820. Diving into technical indicators, the Relative Strength Index (RSI) is noted at 64, alluding to a bullish sentiment, given it's greater than 50.

The 50-Day Exponential Moving Average (50 EMA) further consolidates this sentiment, priced at $1860 and indicating that Gold's price trajectory is above this average, suggesting a short-term bullish trend. The chart also reveals a Triple Top Pattern that might hinder upside momentum around the $1880 mark.

However, the 50 EMA's positioning suggests potential buying opportunities.

On the fundamental front, US inflation data for September 2023 remains unaltered at 3.7%, surpassing the anticipated 3.6%. This steady rate is attributed to a subdued drop in energy prices, primarily as fuel prices make a comeback.

Given these parameters, a bullish overtone is sensed: a breakout above $1880 could stimulate further buying. (edited)

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Stop 1882

Take Profit – 1900

Stop Loss – 1870

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Micro Lot = +$180/ -$120

Daily Price Outlook

The EUR/USD pair, as of October 13, stands at 1.05442, reflecting a slight increase of +0.14% over the past 24 hours. This analysis is grounded in a 4-hour chart timeframe.

Pivotal to its price movement is the identified pivot point at 1.0545. From here, traders can anticipate several key resistance and support levels. The immediate resistance hovers at 1.0641, with further resistances at 1.0695 and 1.0793.

Conversely, if the pair retreats, immediate support could be found at 1.0489, followed by stronger supports at 1.0394 and 1.0337.

A glance at the technical indicators furnishes us with additional insights. The Relative Strength Index (RSI) is currently at 42, suggesting a neutral sentiment. The 50-Day Exponential Moving Average (EMA) stands at 1.0570. It's noteworthy that the price is below the 50 EMA, which implies a short-term bearish trend.

Chart patterns are also crucial in predicting future price movements. Currently, the EUR/USD has shown an upward channel breakout at 1.0540. This breakout, combined with the 50 EMA positioning, suggests a selling trend.

In conclusion, the overall trend for the EUR/USD is bearish, particularly if it remains below the 1.0570 mark. Conversely, if the asset surpasses this threshold, we might witness a bullish turn. For the short term, traders should be vigilant for potential fluctuations around these mentioned levels.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.05689

Take Profit – 1.05275

Stop Loss – 1.06103

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$414/ -$414

Profit & Loss Per Micro Lot = +$41/ -$41

Daily Price Outlook

On October 13, the S&P500 (SPX) stands at 4340, experiencing a decrease of 0.62% within the last 24 hours. This observation is based on a 4-hour chart timeframe.

The pivot point for the index is pinpointed at 4357. Several significant resistance and support levels emerge around this pivot.

The immediate resistance is located at 4399, followed by subsequent resistances at 4447 and 4504. Should the index retract, immediate support might be felt at 4331, with the potential for steeper declines towards the support levels at 4287 and 4214.

Analyzing the technical indicators offers further insights. The Relative Strength Index (RSI) is currently at 54. An RSI value greater than 50 traditionally indicates bullish sentiment, suggesting a slightly positive momentum for the index.

The 50-Day Exponential Moving Average (EMA) is precisely at the pivot point, 4357. Since the current price is slightly below the 50 EMA, it signals a short-term bearish trend.

In conclusion, the overall trend for the S&P500 (SPX) leans bearish, especially if the price sustains below the 4357 mark. On the flip side, surpassing this level could tilt the sentiment to bullish.

For short-term maneuvers, traders and investors should anticipate the index's movements around these delineated levels, especially with a potential test of the 4399 resistance in the forthcoming sessions.

S&P500 (SPX) - Trade Idea 

Entry Price – Sell Limit 4330

Take Profit – 4445

Stop Loss – 4275

Risk to Reward – 1: 95

Profit & Loss Per Standard Lot = +$1150/ -$587

Profit & Loss Per Micro Lot = +$115/ -$58

Daily Price Outlook

On October 12, Gold (XAU/USD) exhibited a positive trajectory, registering a modest 0.31% gain to settle at $1,878.9 as reflected in the 4-hour chart. A broader analysis reveals the pivot point for the precious metal anchored at $1,831.

In terms of resistance barriers, the first immediate hurdle stands at $1,851, followed closely by $1,869 and a more formidable barrier at $1,890. On the support end, Gold finds a preliminary cushion at $1,813, with deeper anchors set at $1,792 and further down at $1,774.

Technical indicators are pointing toward the bullish side. The Relative Strength Index (RSI) registers a value of 76, which is indicative of overbought conditions. This often signals a strong buying trend, but traders should exercise caution as it may also hint at potential pullbacks. The Moving Average Convergence Divergence (MACD) portrays an upward momentum, with the MACD line at 1.59 crossing above its signal line, which stands at 9.8. Furthermore, Gold is currently trading above its 50-day Exponential Moving Average (EMA), which is priced at $1,856, further emphasizing a short-term bullish trend.

In conclusion, the prevailing sentiment for Gold remains bullish, especially as the metal maintains its position above the $1,863 mark. If XAU/USD manages to break through the $1,880 resistance level, we could witness a heightened buying trend. The ongoing scenario presents a robust case for Gold's positive momentum, although investors and traders are advised to monitor key technical benchmarks and remain vigilant to potential shifts in the market landscape.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Limit 1875

Take Profit – 1894

Stop Loss – 1858

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$1900/ -$1700

Profit & Loss Per Micro Lot = +$190/ -$170

Daily Price Outlook

On October 12, the USD/JPY currency pair saw a marginal downtrend of 0.11%, positioning at 149.122 during the Asian trading session as reflected in the 4-hour chart. The established pivot point for the pair stands at 148.92.

From a resistance standpoint, USD/JPY confronts an immediate barrier at 150.55, with ensuing levels positioned at 151.78 and 153.41. Contrarily, the support zones are discernible at 147.69, then at 146.04 and further down to 144.81.

Focusing on the technical indicators, the Relative Strength Index (RSI) manifests a value of 55, which tilts slightly towards a bullish bias, yet remains neutral without entering the overbought or oversold territories.

The Moving Average Convergence Divergence (MACD) posts a reading of 0.061, contrasting with its signal line at 0.02, signifying possible upward momentum. Significantly, the pair currently hovers just above its 50-Day Exponential Moving Average (EMA), marked at 148.94, which typically indicates a short-term bullish inclination.

While specific chart patterns are yet to emerge prominently, the overarching sentiment for USD/JPY leans bearish if it settles below the 149.30 mark, with a potential reversal to bullishness if it surpasses this threshold. For the immediate future, traders should remain vigilant and anticipate potential tests of the aforementioned resistance and support zones, which would shape the short-term direction of the currency pair.

USD/JPY - Trade Idea

Entry Price – Sell Below 149.260

Take Profit – 148.407

Stop Loss – 149.838

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$853/ -$578

Profit & Loss Per Micro Lot = +$85/ -$57

Daily Price Outlook

On October 12, the AUD/USD pair exhibited a modest uptrend, marking a 0.08% gain to position itself at 0.64205, as captured in the 4-hour timeframe. The pivot point for the currency pair stands decisively at 0.6372.

In the realm of resistance, the AUD/USD faces an immediate barrier at 0.6457, with subsequent levels at 0.6530 and then at 0.6617. On the downside, the first line of defense is at 0.6296, followed by supports at 0.6212 and further to 0.6138.

Diving into the technical indicators, the Relative Strength Index (RSI) is currently at 57, signifying a somewhat bullish sentiment without being in the overbought territory. The Moving Average Convergence Divergence (MACD) presents a reading of -0.00008 against its signal line at 0.00135. This suggests a potential for downward momentum, although it's marginal and might require careful observation. Notably, the pair is trading just above its 50-day Exponential Moving Average (EMA) valued at 0.6392, hinting at a short-term bullish trajectory.

In wrapping up, the AUD/USD portrays a bullish sentiment as long as it remains above the 0.6392 mark. However, given the close proximity of the current price to this threshold and mixed technical signals, traders should exercise caution. The near-term forecast anticipates the pair testing the immediate resistance levels, but market participants would do well to closely monitor global economic events and technical indicators to make informed decisions.

AUD/USD - Trade Idea

Entry Price – Buy Limit 0.63989

Take Profit – 0.64784

Stop Loss – 0.63573

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$795/ -$416

Profit & Loss Per Micro Lot = +$79/ -$41

Daily Price Outlook

The GBP/USD currency pair, as presented on the 4-hour chart, is currently trading at 1.22912. The established pivot point for the pair stands at 1.21769.

On the upside, immediate resistance lies at 1.2318, followed by 1.24016 and 1.25426. On the downside, GBP/USD experiences support at 1.20933, with subsequent support levels at 1.19523 and 1.18686.

From a technical indicators standpoint, the Relative Strength Index (RSI) showcases a value of 62.51, suggesting a bullish momentum without breaching the overbought threshold.

The MACD records a slight bullish divergence with a value of 0.00074, which is below its signal line placed at 0.0034. Notably, the current price of GBP/USD is trading above the 50-day Exponential Moving Average (EMA) marked at 1.22064, reinforcing the bullish bias in the short term.

GBP/USD - Trade Idea

Entry Price – Sell Limit 1.2301

Take Profit – 1.2208

Stop Loss – 1.2352

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$922/ -$512

Profit & Loss Per Micro Lot = +$92/ -$51

Daily Price Outlook

Gold price stands at $1860.02, presenting an uptick in the current market, as per the 4-hour chart. The pivot point for this precious metal is set at $1831.29. On the resistance spectrum, immediate resistance is identified at $1851.26, followed by successive resistances at $1869.27 and $1889.8. Conversely, the metal finds support at $1812.71 with additional support lines at $1792.18 and $1774.39.

The Relative Strength Index (RSI) registers a value of 64.02, implying a robust bullish momentum without reaching overbought territory. Meanwhile, the MACD, with a value of 1.44, remains above its signal counterpart at 7.13, further emphasizing the bullish trend. Gold's current price is comfortably above the 50-day Exponential Moving Average (EMA) of $1851.02, suggesting a prevailing short-term bullish trend.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Limit 1850

Take Profit – 1880

Stop Loss – 1834

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$3000/ -$1600

Profit & Loss Per Micro Lot = +$300/ -$160

Daily Price Outlook

The EUR/USD currency pair, as indicated by the 4-hour chart, is trading at 1.0605. It finds its pivot point at 1.05445. On the upside, immediate resistance stands at 1.06413, with further resistances at 1.06974 and 1.07942. Conversely, the pair sees support at 1.04907, with subsequent levels at 1.03939 and 1.03389.

The Relative Strength Index (RSI) records a value of 59.58, signaling a healthy bullish momentum without reaching the overbought territory.

The MACD, with a reading of 0.00048, is slightly below its signal line, marked at 0.00207, hinting at a potential pause in the bullish momentum.

Importantly, the EUR/USD's current price is perched above the 50-day Exponential Moving Average (EMA) of 1.05612, emphasizing its short-term bullish trajectory.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.0617

Take Profit – 1.0559

Stop Loss – 1.0651

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$577/ -$336

Profit & Loss Per Micro Lot = +$57/ -$33