Daily Price Outlook

The AUD/USD pair is currently evaluating the support of its intraday bullish channel and maintaining its position above this line, indicating potential upward movement towards our anticipated target of 0.6345. This outlook is bolstered by the positive indicators from the stochastic oscillator.

The EMA50 underpins the price, adding further weight to the anticipated uptrend. This bullish perspective will hold unless the price breaks the 0.6400 level and sustains below it at the daily close. Today, we anticipate the trading range to span between a support level of 0.6390 and a resistance point of 0.6490.

AUD/USD - Trade Idea 

Entry Price – Sell Limit 0.64393

Take Profit – 0.64001

Stop Loss – 0.64671

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$392/ -$278

Profit & Loss Per Micro Lot = +$392/ -$27

Daily Price Outlook

The EUR/USD pair is currently exhibiting a sideways movement, gravitating around the 1.0660 mark. It's noteworthy that the stochastic indicator shows waning positive momentum, transitioning into a negative overlap. This could potentially serve as a catalyst for the price to reinforce its bearish trajectory, targeting a break below 1.0635, which would further signal a descent towards the 1.0515 zone.

Consequently, our prevailing forecast leans towards a bearish outlook, underpinned by the downward pressure exerted by the EMA50. It's essential to underscore that a breach above 1.0685 might pivot the price towards an upward journey, aiming to touch 1.0725 and potentially stretching up to 1.0785 before considering any subsequent decline. The day's anticipated trading corridor is delineated between the support at 1.0570 and resistance at 1.0725, with the predominant sentiment for the day being bearish.

EUR/USD - Trade Idea 

Entry Price – Sell Limit 1.06866

Take Profit – 1.06332

Stop Loss – 1.07158

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$534/ -$292

Profit & Loss Per Micro Lot = +$53/ -$29

Daily Price Outlook

Gold demonstrates a pronounced bullish inclination, targeting the $1,929 mark. This aligns with the prospects of persisting positive momentum, with an initial goal set at $1,945.20.

Today's forecast leans towards a bullish stance, bolstered by the price movement above the EMA50. However, this momentum might encounter intermittent lateral shifts influenced by the stochastic downturn.

Conversely, it's pivotal to acknowledge that any inability to surpass $1,929 could instigate a price regression towards the $1,913.15 territory. Today's anticipated trading span oscillates between the support at $1,920 and resistance at $1,945.20.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Buy Stop 1932

Take Profit – 1942

Stop Loss – 1925

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1000/ -$700

Profit & Loss Per Micro Lot = +$100/ -$70

Daily Price Outlook

The GBP/USD pair has reaffirmed its downward trajectory, consolidating beneath the 1.2400 threshold. This strengthens the forecast for an ongoing primary bearish trend, paving the way towards our primary anticipated target of 1.2310.

The current bearish channel meticulously frames the projected downtrend, which receives consistent reinforcement from the EMA50. It's important to highlight that a breach of 1.2435 could propel the price towards challenging the crucial resistance at 1.2505 before embarking on another bearish maneuver. Today's anticipated trading parameters are set between a support of 1.2300 and resistance at 1.2450.

GBP/USD - Trade Idea 

Entry Price – Buy Limit 1.23798

Take Profit – 1.24463

Stop Loss – 1.23398

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$665/ -$400

Profit & Loss Per Micro Lot = +$66/ -$40

Daily Price Outlook

Gold commenced the trading session exhibiting evident bullish momentum, surpassing the $1,913.15 threshold and nearing the retest of the previously breached neckline of the head and shoulders pattern, which now stands as a pivotal resistance at $1,917.50. It's noteworthy to mention that the 50-day Exponential Moving Average (EMA50) aligns with this resistance level, reinforcing its significance and suggesting the potential for a renewed downtrend.

Given the current scenario, a prudent strategy would be to adopt a wait-and-see approach until there's a decisive breach of one of the critical levels mentioned, thereby offering greater clarity on the impending trajectory. A descent below the $1,913.15 support could indicate the reassertion of the bearish trend, with subsequent objectives at $1,890.00 and then $1,873.50.

Conversely, a breakthrough of the $1,917.50 resistance may negate the adverse implications of the pattern, paving the way for gold to ascend and target gains commencing at $1,929.00. The anticipated trading bandwidth for the day is projected between a support of $1,900.00 and resistance at $1,930.00.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Buy Above 1912

Take Profit – 1925

Stop Loss – 1900

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$1300/ -$1200

Profit & Loss Per Micro Lot = +$130/ -$120

Daily Price Outlook

The GBP/USD pair experienced a pronounced downtrend yesterday, successfully reaching our anticipated target of 1.2400 and currently hovering around this mark. We anticipate further potential decline, with the next significant target positioned at 1.2310.

This bearish outlook remains dominant, reinforced by the EMA50 which exerts downward pressure on the price. It's imperative to note that for the bearish momentum to persist, the price should remain below 1.2505. Today's projected trading range lies between a support level of 1.2320 and a resistance level of 1.2480.

GBP/USD - Trade Idea 

Entry Price – Sell Below 1.24516

Take Profit – 1.23734

Stop Loss – 1.25092

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$782/ -$576

Profit & Loss Per Micro Lot = +$78/ -$57

Daily Price Outlook

Upon scrutinizing the technical nuances of the S&P 500, the index displays volatility around the $4,500 mark. Delving into the four-hour chart, the S&P 500 has staged a comeback from a critical support pegged at $4,470. The candlestick configurations hint at a possible upward trajectory for the index.

Should the S&P 500 sustain above this threshold, it is poised to confront the ensuing formidable resistance near $4,500. Beyond this, another significant resistance coincides with the 61.8% retracement mark, intensified by a 61.8% extension.

On the flip side, if the S&P 500 descends below the $4,470 benchmark, ensuing supports are likely at $4,450 and $4,335. The linchpin remains the pivotal $4,400 support, serving as today's fulcrum. A position above this point insinuates a potential bullish continuation, whereas a breach below might signal augmented selling activity.

S&P500 (SPX) - Trade Idea 

Entry Price – Buy Above 4490

Take Profit – 4545

Stop Loss – 4440

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$550/ -$500

Profit & Loss Per Micro Lot = +$55/ -$50

Daily Price Outlook

The EUR/USD pair displays indications of continued downward movement. Current observations note a negative correlation in the stochastic oscillator, bolstering the likelihood of an extended bearish trend for the day, with a primary target set at 1.0635.

Our analysis maintains a bearish outlook for subsequent sessions only if it manages to break below 1.07207 level. For today, we project a trading range with support at 1.0660 and resistance at 1.0810.

EUR/USD - Trade Idea 

Entry Price – Buy Above 1.07224

Take Profit – 1.07666

Stop Loss – 1.06998

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$442/ -$226

Profit & Loss Per Micro Lot = +$44/ -$22

Daily Price Outlook

The gold price maintains its position below $1,913.15, in anticipation of factors that could reinforce the price's trajectory towards the projected downward trend for the day. This inclination is influenced by the previously established head and shoulders pattern. It's worth noting that our projected targets commence at $1,890.00 and may reach down to $1,873.50.

The 50-day Exponential Moving Average (EMA50) backs the forecasted bearish movement, which will persist as the dominant prediction unless there's a breach surpassing the $1,913.15 mark, further solidified if it surpasses $1,916.80 and sustains above these thresholds.

Today's anticipated trading bandwidth is set between a support level of $1,875.00 and a resistance level at $1,920.00.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Sell Below 1912

Take Profit – 1905

Stop Loss – 1917

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$700/ -$500

Profit & Loss Per Micro Lot = +$70/ -$50

Daily Price Outlook

The USD/JPY pair has decisively surpassed the 146.90 threshold, signaling a resurgence of the primary bullish trajectory. This movement is in line with the bullish channel delineated on the chart, enhancing the probability of eclipsing the recent peak of 147.86 and steering towards the 149.00 region as the forthcoming key target.

The 50-day Exponential Moving Average (EMA50) lends positive reinforcement to the pair, underscoring the anticipated upward trend in subsequent sessions. However, it's crucial to note that a breach below the 146.90 mark, followed by a drop past 146.35, could thwart the projected ascent and redirect the pair back to a corrective bearish path.

For today, the trading spectrum is projected to oscillate between a support at 146.70 and resistance at 148.20.

USD/JPY - Trade Idea 

Entry Price – Buy Limit 146.677

Take Profit – 147.955

Stop Loss – 145.774

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1278/ -$903

Profit & Loss Per Micro Lot = +$127/ -$90