Daily Price Outlook

The USD/JPY pair has successfully breached the 145.75 mark and maintained its stance beneath this level, bolstering the anticipated bearish inclination on an intraday scale. The trajectory suggests a potential movement towards our primary target set at 144.55.

Current dynamics, underscored by the negative pressure exerted by the EMA50, fortify the likelihood of reaching the projected target. However, it's pivotal to underscore that for the bearish momentum to persist, the pair needs to remain anchored below the 146.55 benchmark.

Today's trading spectrum is delineated between a support threshold at 144.60 and resistance positioned at 146.00, with the prevailing sentiment skewed towards the bearish side.

USD/JPY - Trade Idea

Entry Price – Sell Below 145.706

Take Profit – 144.968

Stop Loss – 146.273

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$738/ -$567

Profit & Loss Per Micro Lot = +$73/ -$56

Daily Price Outlook

The EUR/USD pair decisively breached the 1.0880 threshold, closing below it yesterday, signaling a return to its prevailing bearish trajectory visible on the chart. In forthcoming sessions, the pair appears poised to further descend, potentially testing the 1.0785 marker. A break beneath this level could set the stage for a deeper decline, targeting 1.0700.

Today's outlook is predominantly bearish, further reinforced by the downward pressure exerted by the EMA50. However, it's pertinent to highlight that any move above 1.0880 could neutralize this bearish outlook, potentially paving the way for recovery efforts. The trading range for today is anticipated to span from a support at 1.0750 to a resistance at 1.0900.

GOLD(XAU/USD) - Trade Idea

Entry Price – Buy Limit 1.08349

Take Profit – 1.08773

Stop Loss – 1.07954

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$424/ -$395

Profit & Loss Per Micro Lot = +$42/ -$39

Daily Price Outlook

The gold price failed to surpass the $1,945.20 mark, leading to a downward trajectory with an anticipated initial target at $1,929.00. A breach of this threshold could further drive the price down to $1,913.15.

Given these dynamics, the outlook for upcoming sessions leans bearish. A dip below $1,937.00 could expedite the journey to the projected targets. However, it's essential to note that should the gold price break above $1,945.20, a recovery could ensue, potentially propelling prices towards the $1,960.00 mark. Today's anticipated trading range for gold is set between a support level of $1,925.00 and a resistance level of $1,950.00.

The prevailing trend forecast for the day is bearish.

GOLD(XAU/USD) - Trade Idea

Entry Price – Buy Limit 1936

Take Profit – 1948

Stop Loss – 1930

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1200/ -$600

Profit & Loss Per Micro Lot = +$120/ -$60

Daily Price Outlook

The GBP/USD pair demonstrated a robust upward surge in the previous session, finding support around the 1.2625 level and successfully reaching the anticipated bullish target at 1.2725. The pair has settled at this level, and our analysis suggests that surpassing this threshold during the morning trading session could pave the way for a continuation of the upward trajectory, aiming for levels around 1.2825 in the near-term perspective.

Consequently, our outlook leans towards a further bullish sentiment in the forthcoming sessions, bolstered by the ascent above the EMA50. It's important to note that a failure to breach the 1.2725 level may halt the positive scenario, potentially triggering a bearish phase targeting the 1.2625 level initially.

The projected trading range for today is expected to extend between the support at 1.2650 and the resistance at 1.2820.

GBP/USD - Trade Idea

Entry Price – Sell Below 1.27311

Take Profit – 1.26731

Stop Loss – 1.27665

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$580/ -$354

Profit & Loss Per Micro Lot = +$58/ -$35

Daily Price Outlook

The gold price has effectively reached our anticipated target at $1,945.20 and is presently positioned around this level. It is making efforts to establish a supportive foundation above this mark, with the aim of utilizing it as a pivot for further upward movement in the short-term and intraday perspectives. It is noteworthy that our subsequent positive milestones initiate at $1,960.00, extending onwards to $1,977.25.

Consequently, our outlook remains inclined towards a bullish trajectory in the near future, influenced by the completion of the earlier observed double bottom pattern. It's important to acknowledge that any failure to surpass the $1,945.20 threshold could interrupt the bullish momentum, potentially leading to a downward correction towards $1,929.00 as the initial target, prior to any potential renewed attempt at an upward surge.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Stop 1951

Take Profit – 1970

Stop Loss – 1935

Risk to Reward – 1: 1.19

Profit & Loss Per Standard Lot = +$1900/ -$1600

Profit & Loss Per Micro Lot = +$190/ -$160

Daily Price Outlook

The EUR/USD pair demonstrated significant upward momentum in the previous session, successfully breaching the 1.0880 level and advancing towards the 1.0955 threshold. This movement indicated an endeavor to regain ground in the upcoming trading sessions. However, the influence of stochastic negativity is currently introducing a certain bearish inclination.

Given this situation, the conflicting technical indicators prompt us to adopt a neutral stance until clearer signals emerge regarding the next directional movement. These signals could manifest through either a breach of the 1.0955 level or a breakdown below the 1.0880 support. It's important to note that a continuation of the ascent beyond this resistance could drive the price towards 1.1030 as the subsequent favorable target. Conversely, a breach of the support holds the potential to reignite the primary bearish trend, with the next target positioned at 1.0785.

Anticipated trading activities for today are expected to transpire within the range of support at 1.0830 and resistance at 1.1010.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.08932

Take Profit – 1.09840

Stop Loss – 1.08489

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$908/ -$443

Profit & Loss Per Micro Lot = +$90/ -$44

Daily Price Outlook

The EUR/USD pair has successfully reached our anticipated target at 1.0880, encountering strong resistance at this level. This resistance is a result of the convergence of the previously breached 61.8% Fibonacci correction level with the resistance of the corrective bearish channel. Additionally, clear negative signals have emerged through the stochastic indicator.

Consequently, we hold the view that there is a valid possibility of a bearish rebound, leading to potential negative price movement in the upcoming trading sessions. The focus is on testing the 1.0785 level as a primary target. It's noteworthy that surpassing the levels of 1.0880 to 1.0890 would negate the projected decline, potentially allowing for further gains toward the 1.0955 region. The projected trading range for today is anticipated to lie between the support at 1.0785 and the resistance at 1.0925.

The anticipated trend for today is bearish.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.08503

Take Profit – 1.09279

Stop Loss – 1.08001

Risk to Reward – 1: 1.55

Profit & Loss Per Standard Lot = +$776/ -$502

Profit & Loss Per Micro Lot = +$77/ -$50

Daily Price Outlook

The USD/JPY pair made an attempt to breach the 146.55 level yesterday; however, it encountered a strong downward reversal, ultimately reaching our initial awaited target at 145.75. At this point, it discovered significant support, setting the stage for a potential break of this level. Such a breach would serve as confirmation for the continuation of the prevailing bearish bias, guiding the price towards the subsequent downside target at 144.55.

Consequently, our stance maintains the bearish outlook for the forthcoming period. It's important to highlight that surpassing the 146.55 level would halt the projected decline and propel the price back into the realm of the primary bullish trajectory. The projected trading range for today is expected to fluctuate between the support level at 145.40 and the resistance at 146.95.

USD/JPY - Trade Idea

Entry Price – Buy Above 145.738

Take Profit – 147.339

Stop Loss – 145.117

Risk to Reward – 1: 1.2.5

Profit & Loss Per Standard Lot = +$1601/ -$621

Profit & Loss Per Micro Lot = +$160/ -$62

Daily Price Outlook

Gold's price experienced a robust upward surge yesterday, resulting in a significant breach of our initial target at $1,929.00. This breakthrough has solidified the path for further gains, with the next primary objective projected at $1,945.20.

The persistent influence of the double bottom pattern remains in effect, bolstering the likelihood of continued upward movement. It's important to highlight that a breach below $1,929.00 would exert downward pressure on the price, potentially leading it towards a crucial intraday support level at $1,913.15, before a definitive trend direction is determined. The projected trading range for today spans from $1,925.00 as the support to $1,950.00 as the resistance.

In terms of the anticipated trend for today, a bullish sentiment is expected to prevail.

GOLD (XAU/USD) - Trade Idea

Entry Price – Sell Below 1938

Take Profit – 1927

Stop Loss – 1946

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1100/ -$800

Profit & Loss Per Micro Lot = +$110/ -$80

Daily Price Outlook

Upon examining the technical aspects of the S&P 500, it currently indicates fluctuations around the 4430 level. Analyzing the four-hour chart, the S&P 500 has rebounded from a significant support level of 4350. The manner in which the candles have closed suggests that the S&P 500 carries potential upside momentum.

It is nearing the 38.2% Fibonacci retracement level situated around 4440. Should the S&P 500 maintain its position above this level, it will likely encounter the next significant resistance at approximately 4475. Further upwards, another major resistance aligns with the 61.8% retracement level, amplified by a 61.8% extension. Conversely, if the S&P 500 drops below the 4400 level, subsequent support can be expected at 4450 and 4335.

The pivotal focus remains on the crucial support level of 4400, which is also today's pivot point. A stance above this level indicates a probable continuation of the bullish trend, while a position below may suggest further selling pressure.

S&P500 (SPX) - Trade Idea 

Entry Price – Buy Above 4400

Take Profit – 4470

Stop Loss – 4350

Risk to Reward – 1: 1.4

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

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