Daily Price Outlook

    * Bitcoin breaks above the $27,000 barrier, but needs to surpass $27,800 for a substantial upward move.

    * Price correction follows a low near $25,851, with a bullish trend line break near $27,000 on the BTC/USD hourly chart.

    * Resistance levels are seen at $27,400 and $27,800, while support lies at $27,000 and the 100 hourly Simple Moving Average.

The price of bitcoin is showing signs of life as it breaks beyond the $27,000 barrier. Bitcoin, however, has to break over the $27,800 resistance level before any substantial upward movement can occur. Before the bulls came in, the price had fallen below $27,000 and had gotten as low as $26,200.

The price has formed a low around $25,851 and is currently correcting higher. A key bearish trend line near $27,000 on the hourly chart of BTC/USD has been broken, and the currency pair is now trading above both $26,500 and that line.

Bitcoin's current price is above the 50% Fibonacci retracement level of the fall from the $28,334 swing high to the $25,851 low. Price is trading above the 100 hourly Simple Moving Average and $26,500.

The 61.8% Fibonacci retracement level of the recent decline ($27,400) is providing initial resistance. Close to $27,800 is the next major barrier to growth.

If the price is able to close above $27,800, it may begin a solid uptrend. The next significant resistance level is about $28,000, above which the price might rise to $28,500.

But if Bitcoin can't go through $27,400, we might see another drop. On the downside, $27,000 and the 100 hourly Simple Moving Average provide near-term support.

If prices drop below the $26,500 area, the market may experience further weakness. In that case, it's possible that the price will fall back to the $26,000 level. Bitcoin's next significant support is at $25,000, so if prices keep falling, that's where it might end up.

BTC/USD - Trade Idea

Entry Price – Buy Above $27300

Stop Loss – $26750

Take Profit – $28300

Risk to Reward – 1 : 1.8

Profit & Loss Per Standard Lot = +$1000/ -$550

Profit & Loss Per Micro Lot = +$100/ -$55

Daily Price Outlook

    * Gold is exhibiting a strong bearish bias, declining from $2017 to $2007.

    * The four-hour chart shows a significant bearish engulfing candle, indicating prevailing bearish sentiment.

    * Gold is likely to target the immediate support level at $2004, with potential further declines towards $1990 and $1982, influenced by the violation of an upward trend line.

Good morning, everyone. Today marks the final trading day of the week, and gold is currently displaying a strong bearish bias, having dropped from the $2017 level to $2007.

On the four-hour time frame, we can observe that gold has formed a significant bearish engulfing candle, completely engulfing the previous bullish candle. This indicates that the bearish sentiment is prevailing in the market.

Given the current bearish sentiment, it is highly likely that gold will target the immediate support level at $2004. A break below this level has the potential to drive gold prices towards $1990 and $1982. This bearish outlook is primarily influenced by the violation of an upward trend line visible on the four-hour time frame.

As long as gold prices continue to close below this trend line, the bearish sentiment is expected to dominate the market, unless we receive any supportive fundamental news from the US economy.

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below $2015

Stop Loss – $2025

Take Profit – $1990

Risk to Reward – 1 : 2.5

Profit & Loss Per Standard Lot = +$2500/ -$1000

Profit & Loss Per Micro Lot = +$250/ -$100

Daily Price Outlook

    * The GBP/USD currency pair is trading at the 1.2517 level, rebounding from crucial support at 1.2499.

    * Despite disappointing UK GDP figures, the technical outlook on the four-hour time frame suggests a slight bullish bias as long as the 1.2500 level is maintained.

    * RSI and MACD indicators indicate oversold conditions for the Sterling, while the price remains below the 50-day exponential moving average, potentially signaling a bullish correction.

The GBP/USD currency pair is currently trading at the 1.2517 level, having rebounded from the crucial support around 1.2499. On the economic front, the market has witnessed significant impact from high-impact economic events in the UK, with particular focus on the disappointing UK GDP figures.

However, shifting our attention to the technical outlook on the four-hour time frame, there is a slight support or bullish bias as long as the 1.2500 level is maintained.

The RSI and MACD indicators indicate that the Sterling is in the oversold zone. Furthermore, the current price of the GBP/USD is well below the 50-day exponential moving average, suggesting the possibility of a bullish correction in the market.

Considering these factors, we can anticipate that GBP/USD prices may exhibit bullish momentum above the 1.2500 level, targeting levels around 1.2560 or 1.2585. Conversely, if the Sterling breaks below the 1.2500 support zone, the next support level is likely to be found around 1.2540.

GBP/USD - Trade Idea

Entry Price – Buy Above 1.24960

Stop Loss – 1.24563

Take Profit – 1.25847

Risk to Reward – 1 : 2.2

Profit & Loss Per Standard Lot = +$887/ -$397

Profit & Loss Per Micro Lot = +$88/ -$39

Daily Price Outlook

    * Bitcoin is trading bearish, breaking below the double bottom support level of $26,800.

    * The formation of a three black crows candlestick pattern indicates a prevailing bearish sentiment in the market.

    * The next support level at $25,450, corresponding to the 50% Fibonacci retracement mark, could be the target if the bearish trend continues.

The leading cryptocurrency, Bitcoin, is currently trading sharply bearish as it has dropped below the double bottom support level of $26,800. The violation of this level and the formation of three black crows candlestick pattern indicate a strong bearish sentiment prevailing in the market.

This downward trend could potentially extend towards the next support level at $25,450, which aligns with the 50% Fibonacci retracement mark.

On the other hand, if Bitcoin manages to surpass the $26,800 level, it may signal a potential bullish correction towards the $28,300 level. However, it is important to note that today's pivot point is likely to be around $26,800, and it will be crucial to monitor the price action closely.

BTC/USD - Trade Idea

Entry Price – Sell Below 26800

Stop Loss – 28350

Take Profit – 23850

Risk to Reward – 1 : 1.9

Profit & Loss Per Standard Lot = +$2698/ -$1417

Profit & Loss Per Micro Lot = +$269/ -$141

Daily Price Outlook

    * Mixed CPI figures from the US economy have led to a mixed trading sentiment in the market.

    * Bitcoin is currently trading around $27,500 and is facing resistance at the $27,550 level.

    * If BTC breaks below $27,300 level, it may go down to $26,900 or $26,500 levels, but if it holds above this level, it has the potential to bounce back up to $27,800 or $28,250 levels.

Good morning everyone. The release of mixed CPI figures from the US economy has led to a mixed trading sentiment in the market. The inflation figures showed mixed results, with core CPI being positive while CPI figure was negative. Investors are trying to assess which way the market is likely to move.

Meanwhile, Bitcoin is currently trading around $27,500. It saw a sharp rise to the $28,250 level but failed to cross it and dropped dramatically to the $26,800 level. However, the downturn was short-lived as BTC recovered and is now trading in a narrow range between $27,327 and $28,800 levels.

The technical indicators are mixed, with BTC prices holding both above and below the 50-day exponential moving average, which is currently acting as resistance around the $27,550 level. Similarly, the RSI and MACD indicators are holding in a buying and selling zone, with RSI below 50 and MACD above 0, indicating investor confusion regarding the market direction.

If BTC breaks below the $27,300 level, it has the potential to go down to $26,900 or $26,500 levels. On the other hand, if BTC manages to hold above $27,300 level, it has the potential to bounce back up to $27,800 or $28,250 levels.

BTC/USD - Trade Idea

Entry Price – Sell Below 27150

Stop Loss – 26750

Take Profit – 28245

Risk to Reward – 1 : 1.66

Profit & Loss Per Standard Lot = +$1009/ -$400

Profit & Loss Per Micro Lot = +$100/ -$40

Daily Price Outlook

    * USD/JPY is currently trading at 134.200 level, gaining support at 133.950 level on the 12-hour timeframe

    * Hammer candlestick pattern suggests a potential bullish movement towards 134.650 or 135.350 levels

    * If USD/JPY breaks below 133.950, it may experience downward movement towards 133.400 or even below 133 levels.

The USD/JPY currency pair is currently trading at 134.200 level. On the 12-hour timeframe, the USD/JPY is gaining support around the 133.950 level, which is being extended by an upward trendline that has supported the currency pair around 133.600 in the past.

The trendline is currently supporting around 133.900. The formation of a hammer candlestick pattern just above this trendline suggests that we may see a bullish movement in the currency pair, potentially pushing it up to 134.650 or 135.350 levels.

On the other hand, if USD/JPY breaks below 133.950, the currency pair may experience a downward movement towards 133.400 or even below 133 levels.

Therefore, it can be said that the 133.900 level is likely to act as a pivot point, and it is important to monitor the currency pair closely.

USD/JPY - Trade Idea

Entry Price – Buy Above 133.918

Stop Loss – 133.630

Take Profit – 134.649

Risk to Reward – 1 : 2.5

Profit & Loss Per Standard Lot = +$731/ -$288

Profit & Loss Per Micro Lot = +$73/ -$28

Daily Price Outlook

    * Gold maintained a neutral bias with a trading range between $2020 and $2047.

    * Technical indicators like the 50-day exponential moving average act as resistance at $2035 levels.

    * Investors may look for a bounce above the $2025 level, while a break below $2020 may find support at $2010 or $2000 levels.

On Monday, the price of gold maintained a neutral bias, with a wide trading range between $2020 and $2047. Investors are waiting for upcoming fundamental news from the US economy, as the US inflation failed to drive any significant movement.

Technical indicators such as the 50-day exponential moving average are acting as resistance around $2035 levels, while the RSI and MACD indicators are holding in a buying and oversold zone respectively, indicating a lack of direction for investors.

On the daily timeframe, the trendline is expected to support gold prices near the $2025 level, and above this level, investors may look for a potential bounce. However, if gold breaks below $2020, the next support is likely to be found around the $2010 or $2000 levels.

On the upside, gold is expected to face immediate resistance around the $2047 and $2060 levels.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Limit $2025

Stop Loss – $2015

Take Profit – $2050

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$2500/ -$1000

Profit & Loss Per Micro Lot = +$250/ -$100

Daily Price Outlook

    * The USD/JPY currency pair is trading at 135.338, facing resistance at 135.350 due to a double top pattern on the two-hour chart.

    * Technical indicators like the 50-day exponential moving average suggest an upward trend around the 135 level, with bullish sentiment dominating the market.

    * If the USD/JPY breaks above 135, a buying position may be considered. However, it may be wise to await US inflation data for further price direction.

Examining the USD/JPY currency pair, it is currently trading at the 135.338 level. A double top pattern on the two-hour time frame is presenting solid resistance around the 135.350 level. When we consider technical indicators, such as the 50-day exponential moving average, they suggest an upward trend around the 135 level, and the closure of candles above the 135 level indicates that bullish sentiment is prevailing in the market.

Simultaneously, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are both situated in a buying zone. This suggests that if the USD/JPY pair successfully breaks through the 135.350 resistance level, it could potentially aim for the next target level of 136.

In summary, if the USD/JPY manages to break above the 135 level, investors may consider a buying position. Alternatively, it would be prudent to await US inflation figures to guide further price action in the Japanese yen today.

USD/JPY - Trade Idea

Entry Price – Buy Stop 135.404

Stop Loss – 134.904

Take Profit – 136.004

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$600/ -$500

Profit & Loss Per Micro Lot = +$60/ -$50

Daily Price Outlook

    * The EUR/USD pair shows a mild bullish trend, currently trading around 1.0960 after bouncing from the 1.0941 level.

    * Strong resistance for the pair exists near the 1.0990 level, reinforced by earlier highs and the 50-day exponential moving average.

    * Investors' attention today is on the US CPI figures, with higher inflation potentially driving a EUR/USD selling trend, and weaker figures possibly pushing the pair past 1.0990 towards 1.1054.

Good morning, everyone.

The EUR/USD currency pair is currently displaying a slight bullish bias, having bounced off the 1.0941 level and is currently trading around 1.0960. On the upside, the EUR/USD pair faces strong resistance near the 1.0990 level, a barrier strengthened by previously established highs and the 50-day exponential moving average (green line). These factors are likely to keep the EUR/USD upward movement limited.

Today, investor focus is expected to remain on the US CPI figures. Higher inflation figures typically trigger a selling trend in the EUR/USD currency pair. Conversely, if inflation figures are weaker or if the US economy falters, there's a possibility that the EUR/USD might breach the 1.0990 level and aim for the next resistance level at 1.1054.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09581

Stop Loss – 1.09279

Take Profit – 1.10315

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$735/ -$302

Profit & Loss Per Micro Lot = +$73/ -$30

Daily Price Outlook

    * Gold hit $2,030 on Wednesday, failing to cross $2,037, and slipped below the 50-day exponential average, despite bullish indicators.

    * An upward trend may support gold at $2,020, providing a buy opportunity if sustained. A fall below $2,020 could prompt a decline to $2,010 or $2,000.

    * If bullish trends dominate, gold could break the $2,035 resistance, potentially targeting $2,050 and $2,057.

On Wednesday, the precious metal gold traded at the $2,030 level, having failed to surpass the $2,037 resistance level. Presently, a glance at the technical side of the market reveals that gold has dipped below the 50-day exponential moving average, which was providing significant support around the $2,034 level. Concurrently, the RSI and MACD indicators remain in a buying zone.

There also appears to be an upward trend line likely to support gold prices around the $2,020 level. Hence, if gold continues its upward trajectory and closes above the $2,020 level, investors may have an opportunity to consider a buy position above this level. A break below the $2,020 level could potentially drive the gold price towards the next support levels at $2,010 or the psychological mark of $2,000.

On the other hand, if bullish buying dominates the market, then gold has the potential to break above the $2,035 resistance level. On the upside, it could potentially target the subsequent resistance levels of $2,050 and $2,057.

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below $2035

Stop Loss – $2045

Take Profit – $2020

Risk to Reward – 1 : 1.5

Profit & Loss Per Standard Lot = +$1500/ -$1000

Profit & Loss Per Micro Lot = +$150/ -$100