Daily Price Outlook

The EUR/USD currency pair has decisively surpassed the 1.0880 benchmark, culminating in a daily candlestick closure beneath this threshold. This development reinforces the projection of an extended bearish trajectory in the forthcoming phase, setting the stage for an eventual descent towards our subsequent objective situated at 1.0785.

The 50-Day Exponential Moving Average (EMA50) consistently underpins this envisaged downward momentum. It's noteworthy that this sentiment has been influenced by the recently culminated double bottom formation. It's pivotal for investors to recognize that any potential breach of the 1.0880 level could instigate the pair to embark on recovery endeavors, initially aiming for the 1.0955 zones, prior to making another downturn effort.

For today, the anticipated trading bracket is delineated between the support level of 1.0780 and the resistance at 1.0935.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.08783

Take Profit – 1.08370

Stop Loss – 1.09134

Risk to Reward – 1: 1.1

Profit & Loss Per Standard Lot = +$413/ -$351

Profit & Loss Per Micro Lot = +$41/ -$35

Daily Price Outlook

Following the recent data from the Australian Bureau of Statistics, the nation's unemployment rate for July experienced an uptick, settling at 3.7%, a rise from June's 3.5%. This data revealed a growth in the number of unemployed individuals by 36,000. Additionally, the participation rate, representing the percentage of those aged 15 and older either employed or actively seeking employment, witnessed a slight dip of 0.1 percentage points, closing at 66.7%. This macroeconomic development has cast a shadow over the AUD/USD pair.

Professionally examining the trajectory of the AUD/USD pair, it has adeptly met our anticipated target at 0.6400. Initiating today's trading with a bearish undertone, the pair not only breached the 0.6400 level but also affirmed the dominating bearish trend, hinting at a potential movement towards our forthcoming bearish target set at 0.6310.

Reinforcing this downtrend, the 50-Day Exponential Moving Average (EMA50) lends its weight behind the envisaged bearish momentum. However, this sentiment will hold its validity contingent upon the pair's ability to maintain its position below the 0.6400 threshold.

For today's trading landscape, we foresee the pair oscillating within a range, demarcated by the 0.6310 support level and the 0.6420 resistance level.

AUD/USD - Trade Idea

Entry Price – Sell Below 0.64003

Take Profit – 0.62815

Stop Loss – 0.64833

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1188/ -$830

Profit & Loss Per Micro Lot = +$118/ -$83

Daily Price Outlook

In a comprehensive assessment of gold's market trajectory, the precious metal has demonstrated a pronounced downturn, successfully reaching our initial anticipated benchmark at $1892.00. Currently, gold is exerting pressure on this level, aiming to validate its break beneath it. This augments the likelihood of persisting in a bearish trend, with potential descent aiming towards the subsequent target of $1873.50.

In light of these dynamics, our outlook remains bearish for the foreseeable horizon, underscored by the downward impetus provided by the 50-Day Exponential Moving Average (EMA50). It is paramount to observe that any breach of the $1905.00 level, succeeded by the $1913.15 benchmark, would arrest the anticipated decline, potentially pivoting the metal's trajectory towards an ascent.

For the day's trading landscape, we project gold's valuation to oscillate between a support threshold of $1875.00 and a resistance cap of $1905.00.

GOLD(XAU/USD) - Trade Idea

Entry Price – Sell Below 1897

Take Profit – 1885

Stop Loss – 1906

Risk to Reward – 1: 1.33

Profit & Loss Per Standard Lot = +$1200/ -$900

Profit & Loss Per Micro Lot = +$120/ -$90 

Daily Price Outlook

The EUR/USD pair exhibited a bearish rebound upon encountering the initial significant resistance at 1.0955, signaling an intent to continue its corrective downward trajectory. A breach of the 1.0880 mark is crucial to pave the way for our subsequent target at 1.0785.

Given these dynamics, the prevailing outlook remains bearish for the forthcoming period, further reinforced by the negative momentum implied by the EMA50.

It's noteworthy that surpassing the 1.0955 level, followed by the 1.1030 threshold, would nullify the anticipated decline, steering the pair back toward a primary bullish trend.

Today, we foresee a trading spectrum with a floor at 1.0820 and a ceiling at 1.0970.  

EUR/USD - Trade Idea

Entry Price – Sell Below 1.09313

Take Profit – 1.08499

Stop Loss – 1.09766

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$814/ -$453

Profit & Loss Per Micro Lot = +$81/ -$45

Daily Price Outlook

The AUD/USD pair demonstrates an increased bearish inclination, nearing our projected target of 0.6040. We anticipate sustained downward momentum that might breach the stated level, setting the stage for further declines, potentially towards the 0.6310 mark.

Given these factors, a bearish trajectory is projected for both intraday and short-term intervals, underpinned by the negative influence of the EMA50. It's imperative to note that maintaining a position below 0.6550 is crucial to perpetuate the predicted bearish trend.

Today, the forecasted trading bracket spans from a support at 0.6380 to a resistance at 0.6490.  

AUD/USD - Trade Idea

Entry Price – Sell Below 0.64604

Take Profit – 0.64138

Stop Loss – 0.64920

Risk to Reward – 1: 1.45

Profit & Loss Per Standard Lot = +$466/ -$316

Profit & Loss Per Micro Lot = +$46/ -$31

Daily Price Outlook

 During the previous trading session, gold displayed a distinct downward trajectory, nearing our anticipated target of $1,892. This decline followed a period of fluctuating behavior, during which the price tested a pivotal resistance at $1,913, only to retreat in a bearish manner.

This reinforces the ongoing bearish trend in intraday and short-term perspectives, clearly delineated within the chart's evident bearish channel. We project a further descent toward the $1,874 mark.

Given these factors, our forecast remains bearish for the forthcoming period, with the EMA50 providing additional support for this stance.

This outlook hinges on the price's consistent positioning below the $1,913 threshold. For today, we anticipate a trading corridor with support at $1,885 and resistance capped at $1,915.  

GOLD(XAU/USD) - Trade Idea

Entry Price – Buy Above 1899

Take Profit – 1893

Stop Loss – 1889

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$1900/ -$1000

Profit & Loss Per Micro Lot = +$190/ -$100

Daily Price Outlook

The GBP/USD pair adeptly met our initial forecasted target at 1.2625, encountering robust support at this juncture. This was accompanied by a transient bullish inclination. Intriguingly, the stochastic indicator has unmistakably lost its upward drive, while the EMA50 consistently exerts downward pressure on the currency's valuation.

Given these dynamics, our prognosis leans towards a bearish trajectory for the ensuing phase. For this forecast to materialize, the pair must decisively penetrate the aforementioned 1.2625 mark, setting its sights on 1.2505 as the subsequent bearish milestone. It's crucial to underscore that any surge beyond 1.2725, and subsequently 1.2825, would negate this bearish outlook, potentially catalyzing an upward price movement.

GBP/USD - Trade Idea

Entry Price – Buy Stop 1.27289

Take Profit – 1.27931

Stop Loss – 1.26644

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$642/ -$645

Profit & Loss Per Micro Lot = +$64/ -$64

Daily Price Outlook

The gold price has decisively breached the $1,913.15 level, as evidenced by the daily candlestick's close below this mark. This move has initiated bearish trades, applying pressure towards the $1,900.00 threshold. A further decline is anticipated, with primary targets pinpointed at $1,892.00, and possibly reaching as low as $1,873.50.

The current market sentiment leans towards an ongoing bearish trend in the near term, reinforced by the negative sway of the EMA50 and further highlighted by the manifestation of a double top pattern on the chart. Importantly, any rally beyond the $1,913.15 mark might counteract the present bearish pull and pave the way for short-lived recovery maneuvers.

Today's trading dynamics are forecasted to fluctuate between a support level set at $1,885.00 and resistance situated at $1,915.00.

GOLD(XAU/USD) - Trade Idea

Entry Price – Sell Stop 1902

Take Profit – 1893

Stop Loss – 1910

Risk to Reward – 1: 1.13

Profit & Loss Per Standard Lot = +$900/ -$800

Profit & Loss Per Micro Lot = +$90/ -$80

Daily Price Outlook

The EUR/USD pair is currently hovering around the 1.0900 mark. It's noteworthy that the stochastic indicator is displaying a diminishing bullish momentum, which could potentially prompt the pair to continue its downward trajectory, breaking below the 1.0880 threshold and aiming for the subsequent target of 1.0785.

Given the backdrop of the recently formed double top pattern, coupled with the bearish influence exerted by the EMA50, we anticipate a continued bearish outlook. It's pivotal to highlight that maintaining levels below 1.1030 is crucial for the continuation of this predicted bearish momentum.

For today, the trading spectrum is projected between a support level of 1.0830 and a resistance level of 1.0980.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.09416

Take Profit – 1.08914

Stop Loss – 1.09683

Risk to Reward – 1: 1.88

Profit & Loss Per Standard Lot = +$502/ -$267

Profit & Loss Per Micro Lot = +$50/ -$26

Daily Price Outlook

The EUR/USD pair has successfully breached the 1.0955 mark, sealing the daily candlestick beneath it, thus strengthening the anticipation of an extended bearish trajectory in the intraday context, with a subsequent objective set at 1.0880.

The persistent influence of the double top formation is anticipated to exert additional downward pressure, potentially leading the pair to exceed the previously mentioned target, setting its sights on 1.0785 as the subsequent bearish milestone.

Given the adverse momentum steered by the EMA50, a continued bearish sentiment is forecasted in ensuing sessions. It's pivotal to note that for this bearish momentum to persist, the pair should remain below 1.1030.

Today's trading spectrum is delineated with a support at 1.0840 and resistance positioned at 1.1000.

A bullish sentiment will prevail above 1.09249, whereas a stance below this figure leans towards bearishness.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09228

Take Profit – 1.09679

Stop Loss – 1.08965

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$451/ -$263

Profit & Loss Per Micro Lot = +$45/ -$26