Daily Price Outlook

The EUR/USD currency pair has firmly established support at the 1.0700 threshold, currently exhibiting a mild upward tendency, influenced by positive stochastic readings. There's potential for the pair to approach and test the pivotal 1.0785 resistance level before anticipated retracement.

The descending channel remains a dominant force in dictating the primary bearish trajectory, with the EMA50 consistently reinforcing this movement. The overarching bearish outlook remains intact for the foreseeable future unless the currency manages to breach and sustain above the 1.0785 mark. It's worth noting that our subsequent significant objective is pegged at 1.0635.

Today's trading range is projected between the support at 1.0635 and resistance at 1.0785.

EUR/USD - Trade Idea 

Entry Price – Sell Below 1.07314

Take Profit – 1.06872

Stop Loss – 1.07716

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$442/ -$402

Profit & Loss Per Micro Lot = +$44/ -$40

Daily Price Outlook

The technical outlook for the S&P 500 presents a captivating picture. While there have been slight variations akin to light rain, the $4400 level captures my focus. A detailed look indicates the 50-day exponential moving average providing solid resistance around $4475.

What stands out is the affirmation from candle closures below this mark, indicating a potential downward trend. Examining the technical metrics, both the relative strength index and the moving average convergence divergence indicators remain stable in the sell zone, hinting chances of a bearish movement.

Furthermore, the S&P 500 showcases the potential to target the $4390 mark. Achieving this could set the stage for the next target at $4350. On the flip side, bullish cross above $4475 might push the index towards the $4500 or $4545 areas. Given these insights, it's wise to stay alert and consider a selling around the $4475 mark for the day.

S&P500 (SPX) - Trade Idea 

Entry Price – Sell Below 4465

Take Profit – 4395

Stop Loss – 4500

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$700/ -$350

Profit & Loss Per Micro Lot = +$70/ -$35

Daily Price Outlook

Gold prices have distinctly retraced, approaching the anticipated primary target level at $1,913.15. Current indicators suggest an ongoing decline, potentially reaching the vicinity of $1,890.00, especially after surpassing the preceding benchmark.

Given this backdrop, we project a bearish trajectory in the near future, further underscored by the downward pressure exerted by the EMA50. It's imperative to highlight, however, that any breach above the $1,929.00 mark could halt the anticipated downtrend and prompt an intraday price recovery attempt.

Today's projected trading range lies between a support at $1,900.00 and a resistance at $1,930.00.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Above 1915

Take Profit – 1924

Stop Loss – 1909

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$900/ -$600

Profit & Loss Per Micro Lot = +$90/ -$60

Daily Price Outlook

The USD/JPY pair encountered a brief downtrend, touching the 147.00 barrier, before regaining momentum in an attempt to continue its anticipated bullish trajectory in both the intraday and short-term scopes.

The positive forecast remains grounded, bolstered by the EMA50 which underpins the price. It's essential to note that a breach of the 146.55 level might instigate a temporary bearish correction before the price ascends once more.

For today, the projected trading spectrum is demarcated between the support at 147.00 and the resistance at 148.40

USD/JPY - Trade Idea

Entry Price – Buy Above 147.030

Take Profit – 149.144

Stop Loss – 145.713

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$211/ -$131

Profit & Loss Per Micro Lot = +$21/ -$13

Daily Price Outlook

The EUR/USD pair continues its bearish trajectory, approaching our primary forecasted level at 1.0700. As the market opened, the currency exhibited a lateral movement, signaling an anticipation of further bearish momentum to guide the price towards its subsequent target at 1.0635.

The descending channel remains a dominant factor in steering the anticipated bearish movement, further bolstered by the consistent influence of the EMA50. It's crucial to underscore that sustaining this bearish course hinges on the price maintaining below the thresholds of 1.0785 and 1.0815.

Today's trading parameters are projected to span from a support level at 1.0635 to a resistance level at 1.0785.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.07362

Take Profit – 1.06704

Stop Loss – 1.07762

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$658/ -$400

Profit & Loss Per Micro Lot = +$65/ -$40

Daily Price Outlook

The AUD/USD pair concluded its trading below the 0.6400 mark yesterday, reinforcing the anticipated bearish trajectory for both intraday and short-term periods, with a clear path towards our target of 0.6300.

The enduring influence of the bearish flag pattern underscores the projected decline, complemented by the downward pressure exerted by the EMA50. It's pivotal to highlight that any surge beyond 0.6400 could disrupt this bearish outlook, prompting the price to initiate a recovery phase.

For today's trading, we project a range bracketed by a 0.6310 support level and a 0.6410 resistance threshold, with prevailing sentiment tilting bearish.

AUD/USD - Trade Idea

Entry Price – Buy Above 0.63840

Take Profit – 0.64194

Stop Loss – 0.63541

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$354/ -$299

Profit & Loss Per Micro Lot = +$35/ -$29

Daily Price Outlook

The price of gold remains on a declining course, approaching the pivotal support mark set at $1,923. This threshold mirrors the broken neckline of the clear double bottom pattern illustrated on the chart, acting as a barrier to further price drops.

The lingering effects of the recently culminated double top pattern are palpable, enhancing the prospects of the gold price declining past the noted support, steering towards our chief target at $1,913.15. As a result, our forecast is inclined towards a bearish trend in the near term. Importantly, if there's a breach of the $1,929 level, it might trigger a price reversal, ushering in a brief recovery with potential intraday upswings aiming for $1,945.20.

For today's trading, we anticipate a range bordered by the $1,913 support and $1,940 resistance, maintaining a bearish stance.

GOLD (XAU/USD) - Trade Idea

Entry Price – Sell Below 1932

Take Profit – 1915

Stop Loss – 1943

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1700/ -$1100

Profit & Loss Per Micro Lot = +$170/ -$110

Daily Price Outlook

The EUR/USD pair currently displays a modest bullish inclination, influenced by the positive momentum indicated by the stochastic. This could lead to interim intraday appreciations before resuming a downward trajectory.

At present, the predominant bearish trend remains intact, exemplified by the descending channel visible on the chart and augmented by the downward pressure from the EMA50. We anticipate that a breach of the 1.0700 mark would pave the way for an ascent towards 1.0635.

Conversely, it's imperative to highlight that surpassing the 1.0785, followed by the 1.0825 thresholds, would disrupt the bearish narrative, prompting the price to embark on short-term recovery efforts. Today's trading is anticipated to oscillate between a support at 1.0640 and a resistance at 1.0790, with the dominant sentiment leaning bearish.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.07202

Take Profit – 1.07668

Stop Loss – 1.06810

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$466/ -$46

Profit & Loss Per Micro Lot = +$46-$39 

Daily Price Outlook

The gold price faced resistance at the $1,945.20 threshold, subsequently pivoting to a bearish trajectory and descending past the $1,938.50 marker. This sets the stage for anticipated downward dynamics in ensuing sessions. This movement is underscored by the manifestation of a double top formation, indicating bearish objectives, initially targeting the $1,929.00 mark. A breach here could set sights on a primary target at $1,913.15.

Given this context, a bearish inclination is projected for today. However, it's crucial to note that a successful move beyond $1,945.20 could reinvigorate the bullish trend, steering the precious metal toward $1,960.00 as a subsequent focal point. The anticipated trading band for today spans a support level of $1,920.00 and a resistance at $1,945.00.

GOLD (XAU/USD) - Trade Idea

Entry Price – Sell Stop 1933

Take Profit – 1920

Stop Loss – 1945

Risk to Reward – 1: 1

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

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

Daily Price Outlook

The USD/JPY pair has opened today's trading session on an upbeat note, successfully surpassing the 146.55 mark and making endeavors to consolidate above this level. This movement suggests a potential cessation of the recent bearish correction, with the pair positioning to realign with its prevailing bullish trajectory. The anticipated upward targets are set initially at 147.55, progressing to 148.40 as a subsequent focal point.

The EMA50 underpins the pair, bolstering the bullish perspective. This optimistic outlook will persist unless there's a decline below the 146.55 level, further intensified by a drop beneath the 145.95 threshold. For the day, the trading range is projected between a support at 146.10 and resistance at 147.60.

USD/JPY - Trade Idea

Entry Price – Buy Above 146.626

Take Profit – 147.950

Stop Loss – 145.835

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$132/ -$79

Profit & Loss Per Micro Lot = +$13/ -$7