Daily Price Outlook

- EUR/USD faces resistance at the 50 EMA near $1.0759.

- RSI at 36 suggests potential for further downside but hints at oversold levels.

- A short position below $1.0811 is favored, targeting $1.0745.

The euro is trading at $1.0712 against the U.S. dollar, marking a slight gain of 0.06% in the last session. The currency pair is consolidating within a narrow range as it faces strong resistance levels while maintaining immediate support. The pivot point at $1.0728 serves as a crucial reference level, reflecting current market sentiment.

Immediate resistance is found at $1.0752, which closely aligns with the 50-day Exponential Moving Average (EMA) at $1.0759. This level acts as a critical threshold for any upside movement. A sustained breach above this resistance could signal further gains, with the next resistance levels situated at $1.0788 and $1.0815.

On the downside, immediate support is positioned at $1.0687, with additional support levels at $1.0655 and $1.0622. If the euro fails to hold these levels, bearish pressure may intensify, targeting further declines toward the lower support zones.

Technical indicators reflect a cautiously bearish outlook. The Relative Strength Index (RSI) is currently at 36, indicating that the euro is approaching oversold territory, though it remains above critical support levels. The 50 EMA at $1.0759 reinforces the resistance, and any failure to break above this level could maintain the bearish trend.

For traders, a potential short position below $1.0811 might be attractive, with a target at $1.0745 and a stop-loss set just above $1.0855. A breakdown below the 50 EMA would reinforce the downtrend.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.07275

Take Profit – 1.06618

Stop Loss – 1.07712

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$657/ -$437

Profit & Loss Per Mini Lot = +$65/ -$43

Daily Price Outlook

- Gold remains bearish below the 50 EMA at $2,683.79.

- RSI near 36 suggests possible oversold conditions but limited buying.

- A short position below $2,707 is favored with $2,673 as the target.

Gold prices continue to face pressure, currently trading at $2,671.65, down 0.48% for the day. The metal is struggling to break through resistance levels as bearish sentiment prevails. The immediate pivot point lies at $2,682.99, providing a critical reference for short-term movement.

Gold’s immediate resistance stands at $2,697.76, followed by $2,710.07, with further resistance at $2,725.76. A failure to breach these levels would reinforce the selling momentum, potentially pushing prices toward the immediate support level of $2,666.69. Below this, additional support is seen at $2,654.69 and $2,643.30.

Technical indicators suggest a weak outlook for gold. The Relative Strength Index (RSI) is currently at 36, indicating that gold is approaching oversold territory, yet there’s limited buying interest at this stage. The 50-day Exponential Moving Average (EMA) at $2,683.79 acts as a resistance barrier. As long as gold remains below this moving average, the bearish bias remains intact.

In light of these technical factors, a potential short entry is recommended below $2,707, with a target of $2,673 for take-profit and a stop-loss set at $2,726 to manage risk. Traders should monitor the pivot point closely, as any sustained move above $2,683.79 could alter the bearish outlook, albeit temporarily.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2682

Take Profit – 2657

Stop Loss – 2698

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$2500/ -$1600

Profit & Loss Per Mini Lot = +$250/ -$160

Daily Price Outlook

- Immediate Resistance: $2,707.64; Next Resistances: $2,725.76, $2,743.00.

- Immediate Support: $2,687.30; Next Supports: $2,673.76, $2,654.69.

- RSI at 52 reflects a neutral stance, while the 50 EMA at $2,688.07 suggests bearish pressure persists, keeping the outlook cautious on further gains.

Gold prices are trading slightly lower at $2,694.61, down 0.45% as it hovers around crucial support levels amid renewed selling pressure. With immediate support at $2,687.30, gold remains in a tentative position. A breakdown below this level could expose gold to further downside risk, with the next key support points at $2,673.76 and $2,654.69.

Conversely, on the upside, immediate resistance is noted at $2,707.64, which aligns with recent intraday highs. Any sustained move above this level could allow for a bullish run towards the next resistance zones at $2,725.76 and $2,743.00, with a more formidable barrier at $2,758.57.

The Relative Strength Index (RSI) stands at 52, indicating neutral momentum, neither overbought nor oversold, which implies room for movement in either direction. Meanwhile, the 50 EMA, currently at $2,688.07, supports the notion of a short-term bearish trend if prices remain below this level.

Traders might consider a selling entry below $2,707.64, with a target at $2,673.76 and a stop-loss set at $2,726, as market dynamics lean toward downside risk given the subdued momentum.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2707

Take Profit – 2673

Stop Loss – 2726

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$3400/ -$1900

Profit & Loss Per Mini Lot = +$340/ -$190

Daily Price Outlook

- Immediate Resistance: $1.08558; Next Resistances: $1.08921, $1.09363.

- Immediate Support: $1.07463; Next Supports: $1.06982, $1.06471.

- RSI at 48 reflects neutral momentum, while the 50 EMA at $1.08229 serves as a resistance, supporting a cautious bearish outlook for the pair.

The EUR/USD pair is trading modestly lower at $1.07811, marking a 0.19% decline. After failing to breach the pivot level at $1.08115, the pair has found resistance, with immediate levels of concern at $1.08558 and higher at $1.08921 and $1.09363.

These levels present potential challenges for any bullish attempts, especially as the market momentum remains muted. The Relative Strength Index (RSI) sits at 48, indicating neutral sentiment, which suggests limited upward movement unless the pair breaks above these resistance points decisively.

On the downside, immediate support lies at $1.07463, with stronger support levels at $1.06982 and $1.06471, which could come into play if selling pressure intensifies. The 50 EMA, positioned at $1.08229, acts as a dynamic resistance that further validates the current bearish stance.

Given the neutral RSI and resistance from the 50 EMA, traders may find selling opportunities below $1.08112, targeting a move towards $1.07455. A stop-loss at $1.08549 could help manage risk in case of an unexpected reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08112

Take Profit – 1.07455

Stop Loss – 1.08549

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$657/ -$437

Profit & Loss Per Mini Lot = +$65/ -$43

Daily Price Outlook

- Immediate Resistance: 5,988.57; Next Resistances: 6,056.54, 6,103.34.

- Immediate Support: 5,877.15; Next Supports: 5,838.15, 5,809.17.

- RSI at 76 signals an overbought condition, hinting at possible consolidation, while the 50 EMA at 5,816.12 underpins the bullish trend, but caution is advised as the market nears critical resistance levels.

The S&P 500 (SPX) has seen upward momentum, currently trading at 5,973.09, marking a 0.74% gain. After breaking above the pivot level at 5,928.40, the index is approaching immediate resistance at 5,988.57.

Should SPX hold above this pivot, it could extend gains to the next resistance levels at 6,056.54 and 6,103.34, bolstered by strong bullish sentiment. However, with the Relative Strength Index (RSI) at 76, the market is in overbought territory, which raises the likelihood of a short-term pullback or consolidation phase.

On the downside, immediate support lies at 5,877.15, followed by additional support levels at 5,838.15 and 5,809.17. The 50 EMA is positioned at 5,816.12, acting as a foundational support level that aligns with a bullish trend.

Traders may view 5,988 as a critical level; failing to sustain above it could trigger selling pressure with a potential target of 5,928.40. A recommended stop-loss can be set near 6,033.14 to limit risk on short positions if the market reverses.

S&P 500 - Trade Ideas

Entry Price – Sell Below 5988

Take Profit – 5928.40

Stop Loss – 6033.14

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$596/ -$451

Profit & Loss Per Mini Lot = +$59/ -$45

Daily Price Outlook

- Immediate Resistance: Key level at $2,670; a break above could suggest recovery.

- Immediate Support: Strong support at $2,644; a breach could prompt further losses.

- Oversold Conditions: RSI at 22 indicates potential for a short-term bounce, but trend remains bearish.

Gold prices have continued their recent descent, trading at $2,655 as of Thursday, pressured by dollar strength and shifting risk sentiment in global markets. Currently, gold is hovering above a critical support pivot at $2,644. Holding this level is essential for bulls aiming to stabilize the metal.

On the upside, immediate resistance stands at $2,670, followed by the $2,690 mark, with a more robust cap at $2,708. A break above these resistance points would be necessary to trigger any sustained bullish reversal, especially with the 50-day Exponential Moving Average (EMA) positioned significantly higher at $2,741, underscoring the current bearish trend.

If gold fails to maintain support at $2,644, traders may see increased selling pressure, with support levels potentially coming into play at $2,626 and $2,605. An extended decline could push prices toward the $2,585 zone, which would be critical for assessing whether this downtrend has more room to run.

The Relative Strength Index (RSI) sits at a low 22, firmly indicating oversold conditions and suggesting that a short-term bounce may be on the horizon. However, the overall technical landscape remains bearish, and gold's path forward is likely to depend on whether it can break above $2,670 or if support at $2,644 gives way to further downside.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2644

Take Profit – 2678

Stop Loss – 2626

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$2626/ -$1800

Profit & Loss Per Mini Lot = +$262/ -$180

Daily Price Outlook

- Immediate Resistance: AUD/USD faces resistance at $0.66612; a break above may signal further upside.

- Pivot and Support Levels: $0.66395 is a key pivot; $0.65929 serves as critical support.

- RSI Reading: With an RSI of 63, momentum is moderately strong but nearing overbought levels.

AUD/USD is showing strength, trading at $0.66208, following a rebound that lifted the pair above the crucial support level of $0.66235. The immediate resistance sits at $0.66612, and if breached, it could open the door to further gains towards $0.66849.

However, the pivot point at $0.66395 remains a critical level for traders, with the 50-day Exponential Moving Average (EMA) at $0.65940, suggesting underlying support.

Technical indicators present a mixed picture; the Relative Strength Index (RSI) is currently at 63, leaning towards overbought territory but not yet signaling a full reversal. This level indicates that buyers maintain control, though caution may be warranted as momentum could slow if resistance levels hold.

For bears, a drop below the immediate support of $0.65929 could shift the bias downward, potentially driving prices towards $0.65646 and then to the next support at $0.65471.

In the short term, the Australian dollar appears poised to extend its rally, though this optimism is fragile and reliant on maintaining levels above $0.66235. A close below the 50-day EMA at $0.65940 would signal a possible shift to bearish sentiment.

Given the current dynamics, traders may look to sell below $0.66260 with targets near $0.65933 while setting a stop loss at $0.66444.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.66260

Take Profit – 0.65933

Stop Loss – 0.66444

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$327/ -$184

Profit & Loss Per Mini Lot = +$32/ -$18

Daily Price Outlook

- Pivot Pressure: Key pivot at ¥155.155; a breach may shift momentum.

- Support Zones: Immediate support at ¥153.907, with next support at ¥153.415.

- RSI Neutral: RSI at 49 reflects neutral sentiment, though a decline may trigger a bearish continuation.

USD/JPY is trading slightly lower at ¥154.053, displaying a bearish bias as it approaches a critical pivot point at ¥155.155. This level will serve as a key decision point for traders, with a potential reversal or further decline hinging on whether the pair can hold or breach this mark.

The immediate resistance stands at ¥155.557, followed by the next barriers at ¥155.984. A break above these levels would indicate a reversal back to bullish sentiment. However, with current momentum skewed to the downside, resistance appears unlikely to be tested unless the pair finds a solid footing above the pivot.

On the downside, USD/JPY has immediate support at ¥153.907, a level closely aligned with the 50-day Exponential Moving Average (EMA) of ¥153.307, which reinforces the pair’s lower boundary. Should this support level fail to hold, traders may see further declines towards ¥153.415 and then ¥153.008.

The Relative Strength Index (RSI) sits at 49, indicating neutral momentum. However, a reading near 50 suggests a potential shift is forthcoming; a dip below this could strengthen bearish sentiment.

In conclusion, USD/JPY remains vulnerable to further losses below the pivot level of ¥155.155. Traders may consider short positions below ¥154.245, aiming for a target near ¥153.425 with a stop loss at ¥154.935.

USD/JPY - Trade Ideas

Entry Price – Sell Below 154.245

Take Profit – 153.425

Stop Loss – 154.935

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$820/ -$705

Profit & Loss Per Mini Lot = +$82/ -$70

Daily Price Outlook

- Entry Strategy: Consider selling below $1.29118, targeting $1.28273, with a stop loss at $1.29526.

- Immediate Support: Key support at $1.28134; further downside risk if this level fails.

- Technical Indicators: RSI at 31 indicates potential for a minor bounce, but overall trend remains bearish.

The British pound is under pressure against the U.S. dollar, with GBP/USD dropping to $1.28510, reflecting a 1.45% decline on the day. The pair has slipped below key support levels, signaling a bearish outlook as the dollar strengthens.

The immediate support now stands at $1.28134, with further downside targets at $1.27817 if selling momentum continues. On the upside, resistance sits at $1.29125, with additional resistance levels at $1.29524 (pivot) and $1.29950. A break above these levels would be necessary to ease the bearish tone, though current indicators suggest that the pound is likely to remain under pressure in the near term.

Technical indicators paint a bearish picture, with the 50-day EMA positioned at $1.29512, well above the current price. This moving average underscores the downward trend and suggests limited upside potential for the pound unless it can reclaim levels above $1.29524.

The RSI stands at 31, edging close to oversold territory. Although this level could suggest a short-term bounce, the broader trend remains bearish, particularly as dollar strength persists.

For traders, a short position below the pivot of $1.29118 may be prudent, with a take-profit target near $1.28273 and a stop loss at $1.29526. With the pound struggling to find traction, maintaining positions below key levels aligns with current market sentiment.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29118

Take Profit – 1.28273

Stop Loss – 1.29526

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$845/ -$408

Profit & Loss Per Mini Lot = +$84/ -$40

Daily Price Outlook

- Entry Strategy: Sell below $1.07767, targeting $1.06941, with a stop loss at $1.08204.

- Immediate Support: Watch for $1.06791; a break here could lead to $1.06375.

- Technical Indicators: RSI at 24 signals oversold conditions but confirms ongoing bearish momentum.

EUR/USD has dropped to $1.07183, shedding nearly 2% as the pair struggles to find support amidst continued dollar strength. The sharp decline in the euro signals bearish momentum, with immediate support now positioned at $1.06791.

Should this level fail to hold, the next critical support zones lie at $1.06375 and potentially lower, putting additional downside pressure on the euro. The pair faces resistance at $1.07760, with further resistance levels at $1.08108 and $1.08558. A push above these levels would be needed to shift momentum back in favor of the euro.

Technical indicators confirm the bearish outlook, with the RSI hovering at an oversold level of 24, suggesting intense selling pressure. While an oversold RSI could hint at a potential short-term bounce, the broader trend remains downward. The 50-day EMA, currently at $1.08728, sits well above the current price, reinforcing the bearish bias and indicating that any upside attempt may be limited.

Given the strong dollar environment, traders might consider selling positions below the pivot point at $1.07767, with a target take-profit level around $1.06941 and a stop loss near $1.08204. If EUR/USD remains under $1.07760, sellers are likely to stay in control, pushing the pair lower towards key support levels.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.07767

Take Profit – 1.06941

Stop Loss – 1.08204

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$826/ -$437

Profit & Loss Per Mini Lot = +$82/ -$43