Daily Price Outlook

- Bearish Momentum: EUR/USD is trading below its 50-day EMA, indicating bearish pressure.

- Oversold RSI: The RSI is at 29, suggesting potential for a short-term corrective rebound.

- Key Levels to Watch: Support at 1.0951; resistance at 1.0999, with pivot at 1.0983.

The EUR/USD pair is displaying subdued price action, lingering near the 1.0966 mark. The Euro's slight dip against the Dollar reflects an overall lack of momentum, with the pair trading below its 50-day Exponential Moving Average (EMA) at 1.1036.

Currently, the Relative Strength Index (RSI) stands at 29, suggesting that the pair is in oversold territory and might be ripe for a corrective bounce. However, any upside movement faces immediate resistance at 1.0999, followed by stronger barriers at 1.1016 and 1.1036.

The technical outlook remains bearish as long as EUR/USD stays below the pivot point of 1.0983. A break below the immediate support level at 1.0951 could pave the way for further declines toward 1.0938 and potentially 1.0923.

This bearish sentiment is reinforced by the continued strength of the U.S. dollar amid expectations that the Federal Reserve may delay any further rate cuts due to strong U.S. economic data.

In conclusion, the EUR/USD is likely to remain under pressure unless it can break and sustain above the 1.0983 pivot point. Traders should monitor upcoming U.S. inflation data closely, as it could significantly impact the pair’s direction.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.09833

Take Profit – 1.09518

Stop Loss – 1.09996

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$315/ -$163

Profit & Loss Per Mini Lot = +$31/ -$16

Daily Price Outlook

- Bearish Sentiment: EUR/USD is trading below its pivot point at $1.1039, indicating potential weakness.

- Key Support Levels: Immediate support at $1.1017; a break below this could push the pair toward $1.1002.

- Resistance Barriers: Overhead resistance stands at $1.1055, limiting bullish attempts.

The EUR/USD pair is currently trading at $1.10275, a slight dip of 0.02%, as the euro struggles to find direction amid a stronger US dollar. The pair is hovering just below its pivot point of $1.1039, signaling potential weakness ahead. Immediate resistance is seen at $1.1055, followed by $1.1066 and $1.1083. A break above these levels could trigger a bullish recovery, but the broader trend remains cautious as the 50-day Exponential Moving Average (EMA) at $1.1082 continues to cap upside momentum.

On the downside, immediate support is noted at $1.1017, followed by $1.1002 and $1.0984. A breach below $1.1017 could accelerate selling pressure, with the next target at $1.1002. The RSI stands at 38, suggesting a bearish bias, though not yet in oversold territory, indicating the pair still has room for further declines.

Traders might consider a sell entry below $1.10387, targeting $1.10072, with a stop-loss placed at $1.10550. This setup aligns with the ongoing bearish momentum, as the pair remains below key moving averages and continues to test lower support levels. A sustained move below $1.1017 would confirm further downside potential, possibly pushing the pair toward $1.0984.

In the near term, the outlook for EUR/USD is tilted to the downside unless we see a significant break above $1.1055, which could negate the bearish scenario and attract new buyers.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10387

Take Profit – 1.10072

Stop Loss – 1.10550

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$315/ -$163

Profit & Loss Per Mini Lot = +$31/ -$16

Daily Price Outlook

- Pivot Point Watch: S&P 500 remains neutral above the $5,677.51 pivot point.

- Resistance Levels: Immediate resistance at $5,730.39 could signal potential bullish continuation.

- Support Levels: A break below $5,648.18 support may trigger bearish momentum.

The S&P 500 (SPX) is trading at $5,699.95, a slight decline of 0.17% for the session, as market sentiment remains cautious ahead of key economic data. The index is hovering just above its pivot point at $5,677.51, signaling indecision among traders.

A breakout above immediate resistance at $5,730.39 could provide a bullish confirmation, with potential targets set at $5,763.04 and $5,792.65. This movement would suggest a recovery from the recent consolidation phase and could attract more buyers to the market.

On the downside, strong support is positioned at $5,648.18, followed by lower levels at $5,617.74 and $5,583.62. A break below these levels could trigger a bearish momentum, potentially pushing the index further down to retest these support zones. The 50-day Exponential Moving Average (EMA) at $5,709.35 is currently acting as an overhead resistance, limiting upward momentum in the near term.

The Relative Strength Index (RSI) stands at 46, indicating a neutral market position. This suggests that neither bulls nor bears have the upper hand, leaving the index in a wait-and-see mode. For traders, a buy entry is recommended above $5,676, with a take-profit target at $5,737 and a stop-loss set at $5,647.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5676

Take Profit – 5737

Stop Loss – 5647

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$610/ -$290

Profit & Loss Per Mini Lot = +$61/ -$29

Daily Price Outlook

- Pivot Point in Focus: Gold remains cautiously bullish above the $2,663.15 pivot point.

- Immediate Resistance: Watch for a breakout above $2,671.80 to signal further gains.

- Support Levels: Key support at $2,651.14; a drop below this level could shift momentum.

Gold is currently trading at $2,662.35, gaining 0.27% and staying just below its pivot point of $2,663.15. This minor upward movement indicates a cautious optimism among traders as they await the upcoming Non-Farm Payrolls (NFP) data, which could significantly impact the metal's short-term trajectory. Immediate resistance is noted at $2,671.80, and a break above this level could push prices towards the next resistance points at $2,678.07 and $2,685.66.

On the downside, the $2,651.14 support level is pivotal, backed by the 50-day EMA at $2,651.08. If gold breaks below this level, it may extend its losses to $2,642.23 and possibly even $2,634.48. The RSI is currently at 58, suggesting moderate bullish momentum but with room to rise further before approaching overbought territory.

For traders looking to capitalize on short-term opportunities, a buy entry above $2,665 is recommended, targeting a take-profit level at $2,677, while maintaining a stop-loss at $2,654. This setup aligns with the expectation of bullish continuation if prices sustain above the pivot point. A successful breach above $2,671.80 would add to the bullish case, attracting more buyers and pushing gold toward the upper resistance levels.

However, if the NFP data surprises on the upside, a stronger US dollar could weigh on gold, driving it back toward support levels. For now, gold’s short-term outlook remains cautiously bullish above $2,665, with potential for further gains if technical conditions align favorably.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2665

Take Profit – 2677

Stop Loss – 2654

Risk to Reward – 1: 1.09

Profit & Loss Per Standard Lot = +$1200/ -$1100

Profit & Loss Per Mini Lot = +$120/ -$110

Daily Price Outlook

- Bearish Momentum Intact: AUD/USD remains pressured below the pivot point at $0.68873, with the 50 EMA at $0.69022 reinforcing a downtrend.

- RSI Nearing Oversold: The RSI at 37 suggests the pair is approaching oversold conditions, but a clear buy signal has not yet emerged.

- Critical Support Levels: Immediate support at $0.68423; a break below could target $0.68211 and $0.67994.

The Australian Dollar (AUD) is losing ground against the U.S. Dollar (USD), currently trading at $0.68622, down 0.33% for the session. The bearish pressure comes amid heightened risk aversion, as investors digest mixed U.S. economic data and concerns over China’s economic slowdown, which is weighing on commodity-linked currencies like the AUD.

The 4-hour chart shows that the AUD/USD pair is struggling to hold above its pivot point at $0.68873, indicating sellers are dominating the market. Immediate support is found at $0.68423, with subsequent support levels at $0.68211 and $0.67994.

The technical indicators reinforce a cautious outlook. The 50-day Exponential Moving Average (EMA) hovers at $0.69022, well above the current price, underscoring the bearish momentum. Meanwhile, the Relative Strength Index (RSI) is at 37, approaching oversold territory but not yet signaling a reversal. Traders should remain vigilant as a break below $0.68423 could see the AUD/USD pair testing deeper support levels.

Immediate resistance stands at $0.69160, and for any significant recovery, the pair would need to surpass this barrier, targeting $0.69403 and $0.69622 as next upside objectives. The short-term outlook remains bearish, particularly if the pair continues to trade below its 50 EMA, which could open doors for further declines.

Conclusion: Traders might consider entering short positions below $0.6878, aiming for a take profit around $0.68426, while maintaining a stop-loss at $0.69051 to manage risk effectively.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.6878

Take Profit – 0.68426

Stop Loss – 0.69051

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$354/ -$271

Profit & Loss Per Mini Lot = +$35/ -$27

Daily Price Outlook

- Symmetrical Triangle Formation: Suggests an imminent breakout, with key levels at $2,663.03 resistance and $2,644.53 support.

- 50 EMA as Critical Pivot: Gold must hold above $2,652.76 to sustain bullish momentum.

- RSI Neutral at 53: Indicates the market is in equilibrium, awaiting directional cues from economic data.

Gold prices are currently trading at $2,656.04, marking a slight decline of 0.11% as investors await key U.S. economic data later in the week. The precious metal has entered a consolidation phase, oscillating within a narrow range as market participants assess the impact of the upcoming Non-Farm Employment report and Average Hourly Earnings data.

The 4-hour chart indicates a symmetrical triangle formation, with immediate resistance seen at $2,663.03 and support levels around $2,644.53. This pattern typically suggests that a significant price breakout is on the horizon, though the direction remains contingent on the forthcoming economic indicators.

The 50-day Exponential Moving Average (EMA) is positioned at $2,652.76, acting as a short-term pivot point for price movements. If the metal stays above this level, it could pave the way for a bullish run, targeting $2,671.80 and $2,685.66 in the coming sessions. On the downside, if prices dip below $2,644.53, gold may see further declines towards the next support at $2,636.09 and potentially $2,627.49.

The Relative Strength Index (RSI) sits at 53, reflecting a neutral stance with no clear overbought or oversold signals, suggesting that traders should remain cautious as volatility could surge. Market participants should look for a break above the $2,663.03 resistance to signal a bullish continuation, while a fall below $2,644.53 may reignite bearish sentiment.

Conclusion: Traders looking to enter positions could consider buying above $2,653, targeting $2,670 with a stop-loss set at $2,645, given the current technical setup and near-term economic calendar.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2653

Take Profit – 2670

Stop Loss – 2645

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1700/ -$800

Profit & Loss Per Mini Lot = +$170/ -$80

Daily Price Outlook

- Uptrend Remains Strong: USD/JPY is trading well above its 50 EMA at 144.045, supporting the bullish bias.

- RSI in Overbought Territory: The RSI at 70 signals potential for a short-term pullback or consolidation phase.

- Critical Resistance at 147.248: A breakout above this level could drive the pair toward 147.866 and 148.567.

The U.S. Dollar (USD) is maintaining its upward trajectory against the Japanese Yen (JPY), currently trading at 146.768, up 0.22% for the session. The pair’s strength can be attributed to a combination of favorable U.S. economic data and continued monetary policy divergence between the Federal Reserve and the Bank of Japan.

The 4-hour chart shows USD/JPY trading above its pivot point of 146.231, with bullish momentum pushing the price towards the immediate resistance level at 147.248. Further resistance is noted at 147.866 and 148.567, where a breakout could spark another leg higher.

Technical indicators reveal a mixed outlook. The Relative Strength Index (RSI) has surged to 70, suggesting that the pair is now approaching overbought territory. This could result in a short-term pullback or consolidation phase as traders look to lock in profits. On the support side, the 50-day Exponential Moving Average (EMA) is positioned at 144.045, providing a solid floor that could limit any downward movement.

Immediate support stands at 145.585, followed by additional support levels at 145.104 and 144.609. A break below 145.585 could see the pair testing the 50 EMA near 144.045, though the overall uptrend remains intact as long as prices hold above the pivot point at 146.231.

Conclusion: With the pair nearing overbought conditions, traders may consider short positions if the price drops below 147.255, targeting 145.620, while placing a stop-loss at 148.227 to limit potential losses.

USD/JPY - Trade Ideas

Entry Price – Sell Below 147.255

Take Profit – 145.620

Stop Loss – 148.227

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1635/ -$972

Profit & Loss Per Mini Lot = +$163/ -$97

Daily Price Outlook

- Resistance at $2,669.37: Gold needs to clear this level for a bullish reversal.

- Immediate Support at $2,648.16: A break below may trigger further declines.

- 50-EMA as a Barrier: Acting as strong resistance, holding back bullish momentum.

Gold (XAU/USD) is currently trading at $2,654.30, down 0.35% for the day, as the metal faces renewed selling pressure. Despite a modest recovery attempt, gold failed to breach the immediate resistance level at $2,669.37, which aligns with its descending trendline and the 50-day Exponential Moving Average (EMA) at $2,656.41. This has reinforced bearish sentiment among traders.

The Relative Strength Index (RSI) is holding at 50, indicating a lack of strong momentum in either direction. If gold prices break below the immediate support at $2,648.16, it could trigger a deeper correction toward the next support levels at $2,639.79 and $2,631.27. Conversely, if gold manages to clear the $2,669.37 resistance, it could set the stage for a move higher to $2,677.74 and potentially $2,685.39.

Short-term technical indicators suggest a cautious outlook, with gold needing to maintain support above $2,648.16 to avoid further declines. Traders should watch for a clear break above $2,669.37 to confirm any renewed bullish momentum.

Gold remains under bearish pressure. An entry position could be considered below $2,660, targeting support at $2,648. For upside potential, a break above $2,669 is required to open further gains.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2660

Take Profit – 2648

Stop Loss – 2669

Risk to Reward – 1: 1.3

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

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

Daily Price Outlook

- Immediate Resistance: $1.33299 – A break above could see the pair testing the $1.33569 resistance.

- Immediate Support: $1.32724 – Failure to hold this level may push the pair to test $1.32368 and $1.32084.

- Pivot Point: $1.32951 – Critical for determining near-term direction.

GBP/USD is currently trading at $1.32756, down 0.07% for the day, reflecting bearish sentiment amid concerns over potential interest rate decisions by the Bank of England (BoE). The pair has been under pressure since failing to sustain above the 50-day Exponential Moving Average (EMA) at $1.33647, a critical resistance that capped recent bullish attempts. The Relative Strength Index (RSI) stands at 34, indicating weak momentum, but not yet oversold, suggesting room for further declines.

On the downside, immediate support is seen at $1.32724, closely followed by $1.32368 and $1.32084. If the pair breaks below these levels, it could trigger additional selling pressure, pushing GBP/USD further down. Conversely, on the upside, the pivot point at $1.32951 will be crucial for the pair to reclaim a bullish bias. Immediate resistance is pegged at $1.33299, with subsequent resistance levels at $1.33569 and $1.33889. A sustained break above these levels would indicate renewed bullish momentum.

The 50-day EMA at $1.33647 remains a key barrier for GBP/USD. If the pair can rise above this level, it would signal a potential trend reversal. Until then, the outlook remains cautiously bearish.

The pair remains under bearish pressure, with an entry above $1.32722 offering potential profit at $1.33299. Monitor resistance at $1.33299 for signs of a bullish reversal.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.32722

Take Profit – 1.33299

Stop Loss – 1.32339

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$577/ -$383

Profit & Loss Per Mini Lot = +$57/ -$38

Daily Price Outlook

- Immediate Resistance: $1.10832 – A break above could lead to testing the next resistance at $1.10952.

- Immediate Support: $1.10461 – Failure to hold this level could result in a decline to $1.10254 and $1.10051.

- Pivot Point: $1.10695 – Currently acting as a short-term neutral level.

EUR/USD is currently trading at $1.10651, down 0.02% in today’s session. The pair has struggled to gain traction, reflecting the broader uncertainty in global currency markets. After testing the $1.10832 resistance level earlier today, EUR/USD failed to break higher, suggesting that bearish momentum is still intact. The 50-day Exponential Moving Average (EMA) at $1.11405 continues to act as a strong resistance, capping further upside potential.

The Relative Strength Index (RSI) has dipped to 32, indicating bearish momentum and suggesting that EUR/USD could face additional downward pressure if it drops below 30. On the downside, immediate support is seen at $1.10461. A break below this level could accelerate declines toward $1.10254 and $1.10051. Conversely, for a bullish reversal to take hold, the pair must decisively break above the pivot point at $1.10695 and test the resistance levels at $1.10832 and $1.10952.

Short-term technical indicators suggest that EUR/USD may experience further declines if it fails to regain ground above $1.10695. The pair remains under selling pressure, with an entry below $1.10694 offering potential profit at $1.10453. Traders should watch for a move above $1.10832 to signal a potential bullish reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10694

Take Profit – 1.10453

Stop Loss – 1.10838

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$241/ -$144

Profit & Loss Per Mini Lot = +$24/ -$14