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

Daily Price Outlook

    * Bitcoin's price is approaching the $27,000 support level, and could drop to $25,000 if it falls below it.

    * The decline was triggered by a break below $28,800, which has caused selling pressure to push BTC to the $27,200 level.

    * A significant negative trend line has formed on the hourly chart with resistance at around $28,150, and the next support level is around $27,000.

Bitcoin's price has fallen below $28,000 and is now approaching the $27,000 support level. If it falls below that level, it could drop to $25,000. This decline was triggered by the break below $28,800, which has caused selling pressure to push BTC to the $27,200 level.

The price is currently trading below $28,000 and the 100 hourly Simple Moving Average, and a significant negative trend line has formed on the hourly chart with resistance at around $28,150.

The next significant support level for Bitcoin is around $27,000, and any further declines could push it down to $25,500. Keep an eye on the market and trade wisely!

BTC/USD - Trade Idea

Entry Price – Sell Below 27733

Stop Loss – 28175

Take Profit – 27000

Risk to Reward – 1 : 1.66

Profit & Loss Per Standard Lot = +$733/ -$442

Profit & Loss Per Micro Lot = +$73/ -$44

Daily Price Outlook

    * The EUR/USD pair traded negatively and broke the 1.1010 level yesterday, settling below it and under expected negative pressure on the intraday basis.

    * Today, we suggest a bearish bias, but note that the expected decline is temporary and we anticipate resuming the main bullish wave starting at the 1.1075 level.

    * The expected trading range for today is between 1.0930 support and 1.1060 resistance.

Yesterday, the EUR/USD pair traded negatively and broke the 1.1010 level, settling below it and falling under expected negative pressure on the intraday basis. The main target is to test the 1.0945 level. Today, we suggest a bearish bias, noting that the expected decline is temporary and we anticipate resuming the main bullish wave that starts by testing the 1.1075 level.

If the decline continues and breaks the 1.0945 level, the price will be under more correctional bearish pressure, heading towards visiting the 1.0865 areas on a near-term basis. However, if the 1.1010 level is breached, it will represent the key to resume the bullish wave again without the expected decline.

The expected trading range for today is between 1.0930 support and 1.1060 resistance. Keep an eye out for any changes and happy trading!

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09844

Stop Loss – 1.09629

Take Profit – 1.10191

Risk to Reward – 1 : 1.17

Profit & Loss Per Standard Lot = +$347/ -$215

Profit & Loss Per Micro Lot = +$34/ -$21

Daily Price Outlook

    * Gold prices have settled around $2,020.00 with positive support from EMA50.

    * Stochastic is gathering positive momentum on the intraday time frames, indicating a potential rise in upcoming sessions.

    * First positive station target is $2,048.70, but breaking $2,002.00 could lead to correctional bearish wave. Expected trading range today is between $2,007.00 support and $2,045.00 resistance.

Gold prices are currently settled around the $2,020.00 level, with continuous positive support from the EMA50. The stochastic is beginning to gather positive momentum on the intraday time frames, which leads us to believe that there are valid chances for the rise to continue in the upcoming sessions.

Our first positive station target is set at $2,048.70, and breaching this level will push the price to $2,075.25 as the next target. However, breaking $2,002.00 represents a negative factor that will push the price to start a correctional bearish wave on the intraday basis.

The expected trading range for today is between $2,007.00 support and $2,045.00 resistance. Happy trading!

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above $2020

Stop Loss – $2005

Take Profit – $2055

Risk to Reward – 1 : 2.33

Profit & Loss Per Standard Lot = +$3500/ -$1500

Profit & Loss Per Micro Lot = +$350/ -$150