Daily Price Outlook

- Pivot Point Support at $0.69069: The pair’s ability to hold above this level is crucial for maintaining a bullish bias.

- RSI Near Neutral at 48: Momentum is evenly balanced, suggesting no imminent overbought or oversold conditions.

- Resistance at $0.69403 in Focus: A decisive break above this level could propel AUD/USD towards $0.69622 and higher.

The Australian dollar (AUD) continues to edge higher against the U.S. dollar (USD), maintaining a cautious upward trajectory. As of the latest trading session, the AUD/USD pair is trading at $0.69223, marking a slight 0.15% increase.

This recent climb positions the pair above its pivot point at $0.69069, suggesting a potential for further gains if key resistance levels are breached.

Immediate resistance is observed at $0.69403, followed by additional hurdles at $0.69622 and $0.69823. The 50-day Exponential Moving Average (EMA) is currently situated at $0.69140, serving as a critical support area that underpins the current bullish bias.

A sustained hold above this level could reinforce the bullish outlook, encouraging further buying interest.

The Relative Strength Index (RSI) reads 48, signaling neutral momentum with a slight inclination towards the upside. This neutral reading suggests that the market is not yet overbought or oversold, offering room for additional price movement in either direction.

On the downside, immediate support is identified at $0.68886. Should the price break below this level, it could trigger a deeper correction towards $0.68696 and $0.68478, where buyers might step in.

Given the technical setup, a potential buy entry above $0.69069 appears favorable, targeting $0.69406 while maintaining a stop-loss just below immediate support at $0.68886.

The AUD/USD’s recent resilience hints at a measured bullish sentiment, provided it remains above the 50-EMA.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.69069

Take Profit – 0.69406

Stop Loss – 0.68886

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$337/ -$183

Profit & Loss Per Mini Lot = +$33/ -$18

Daily Price Outlook

- Momentum Near Overbought Zone: RSI at 61 indicates bullish momentum, but a reversal may occur if resistance levels hold.

- Key Support at $1.34900: Critical support just above the 50-EMA could act as a floor, preventing deeper declines.

- Resistance at $1.35440 in Focus: A break above this immediate resistance is needed to confirm bullish continuation.

The U.S. dollar is holding steady against the Canadian dollar, with the USD/CAD pair currently trading at $1.35264, a marginal dip of 0.01% as traders await key economic data releases.

The pair is hovering near its pivot point of $1.35174, which suggests that the market is seeking directional clarity amid fluctuating crude oil prices and shifts in U.S. interest rate expectations.

With the pair’s Relative Strength Index (RSI) sitting at 61, momentum is slightly in favor of the bulls, but the market is approaching overbought territory, which could cap any immediate upside movement.

Immediate resistance is noted at $1.35440, a level that aligns with recent highs and may act as a short-term barrier for further gains. A break above this resistance would pave the way for the next upside targets at $1.35811 and $1.36118.

On the downside, immediate support stands at $1.34900, followed by $1.34631, which coincides closely with the 50-day Exponential Moving Average (EMA) at $1.34861.

A sustained move below these levels would likely trigger additional selling pressure, driving the pair towards the lower support at $1.34328.

The technical landscape suggests a potential buy setup above the $1.35150 mark, with a take-profit target at $1.35500 and a stop-loss at $1.34900.

As long as the pair remains above the 50-EMA, the bias is slightly bullish, with buyers likely to defend the key $1.34900 support level.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.35150

Take Profit – 1.35500

Stop Loss – 1.34900

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$350/ -$250

Profit & Loss Per Mini Lot = +$35/ -$25

Daily Price Outlook

- Immediate Resistance at $2,650.27: Aligns closely with the 50-day EMA, creating a strong ceiling for any bullish attempts.

- Support Levels to Watch: Key supports at $2,633.19 and $2,624.76 are critical; a break below these could lead to further losses.

- RSI Signals Neutral Momentum: With an RSI of 45.00, gold lacks a clear directional bias, suggesting consolidation is likely until further market catalysts arise.

Gold prices are trading in a narrow range, reflecting a consolidation phase as the market digests recent comments from the U.S. Federal Reserve and awaits pivotal economic data releases.

The precious metal is currently hovering around $2,638.40, showing a modest uptick of 0.14%. The recent price action has positioned gold just below its immediate resistance at $2,650.27, which coincides closely with the 50-day Exponential Moving Average (EMA) of $2,651.13.

This technical confluence suggests a robust barrier to any upside moves unless a substantial catalyst emerges.

The Relative Strength Index (RSI) reads 45.00, indicating that momentum is neutral, with a slight bearish tilt. Given the lack of strong directional momentum, gold is likely to continue oscillating between key support and resistance levels in the short term.

On the downside, immediate support is observed at $2,633.19, a level that, if breached, could accelerate declines toward $2,624.76 and potentially $2,615.24.

For traders, the pivot point at $2,643.35 is crucial. A sustained break below this level could signal further downside risk, making a short position attractive with a target of $2,630.

Conversely, a rebound above the 50-EMA resistance could pave the way for gold to test $2,660.86 and $2,671.02, offering a possible bullish reversal.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2643

Take Profit – 2630

Stop Loss – 2650

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1300/ -$700

Profit & Loss Per Mini Lot = +$130/ -$70

Daily Price Outlook

- Mild Bullish Bias: EUR/USD trades above its pivot at $1.1184, eyeing resistance at $1.1214.

- Support Levels: Immediate support at $1.1171; break below could test $1.1150.

- Buy Strategy: Consider buying above $1.1184, targeting $1.1214 with a stop-loss at $1.1169.

EUR/USD is currently trading at $1.11937, reflecting a modest gain of 0.03% as it hovers above the pivot point at $1.1184. The pair has been in a steady upward trajectory, suggesting mild bullish sentiment in the near term.

Immediate resistance is observed at $1.1200, followed by $1.1214 and $1.1232, making these levels critical for further upward momentum. A break above $1.1214 could lead to a test of $1.1232, indicating a stronger bullish continuation.

On the downside, immediate support lies at $1.1171, with subsequent levels at $1.1150 and $1.1133. The 50-day Exponential Moving Average (EMA) is positioned at $1.1166, indicating that the pair is trading above its short-term trend line and suggesting continued bullish momentum.

However, the Relative Strength Index (RSI) is at 61, nearing overbought territory, which could limit further gains unless there is a strong catalyst, such as positive economic data from the Eurozone or dovish commentary from the Federal Reserve.

From a technical perspective, traders may consider long positions above $1.1184, targeting resistance at $1.1214 and setting a stop-loss around $1.1169 to manage risk.

The focus will be on key economic releases, such as the Eurozone inflation data and U.S. employment numbers, which could significantly influence the pair’s direction in the coming days.

For now, the EUR/USD remains supported above $1.1184, but any break below this pivot point could shift sentiment to bearish, bringing $1.1150 back into play as a key support level. Until then, the pair looks poised to test resistance levels as it sustains its upward momentum.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11844

Take Profit – 1.12141

Stop Loss – 1.11696

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$301/ -$148

Profit & Loss Per Mini Lot = +$29/ -$14

Daily Price Outlook

- Bearish Bias: Gold remains under pressure below $2,658, with immediate support at $2,645.

- Key Resistance: $2,666 and $2,685 are critical levels to watch for a bullish breakout.

- Short Entry: Consider selling below $2,658 with a target of $2,640 and stop-loss at $2,665.

Gold (XAU/USD) is trading at $2,650.58, reflecting a slight decline of 0.08% as bearish sentiment persists. The metal is struggling to break above its pivot point at $2,658.20, indicating a lack of upward momentum.

Gold faces immediate resistance at $2,666.42, followed by a stronger barrier at $2,685.82. Any move above these levels could signal a potential bullish reversal; however, with the 50-day Exponential Moving Average (EMA) positioned at $2,663.47, this area remains a significant resistance zone for gold in the short term.

On the downside, immediate support is at $2,645.13, with further levels to watch at $2,634.74 and $2,624.02. A break below $2,645.13 could open the door to a deeper retracement, possibly testing the 200-day EMA around $2,628.98.

The Relative Strength Index (RSI) is currently at 41, suggesting a bearish bias but not yet oversold, leaving room for further declines.

From a technical perspective, sellers seem to have the upper hand as long as prices remain below the $2,658 pivot level. Traders might consider short positions below this level with a target of $2,640 and a stop-loss set at $2,665.

The broader market sentiment will likely be influenced by key events like the upcoming Non-Farm Payrolls (NFP) report and Fed Chair Powell’s speech, which could inject volatility into gold prices.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2658

Take Profit – 2640

Stop Loss – 2665

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$1800/ -$700

Profit & Loss Per Mini Lot = +$180/ -$70

Daily Price Outlook

- Bullish Momentum: GBP/USD trades above its pivot at $1.3390, targeting resistance at $1.3427.

- Support Levels: Immediate support is seen at $1.3359; a break below could test $1.3334.

- Buy Strategy: Consider buying above $1.3390, targeting $1.3448 with a stop-loss at $1.3362.

GBP/USD is trading at $1.34054, up 0.15% for the day, indicating a mild bullish bias as it trades above its pivot point at $1.3390. The pair has been gaining traction, supported by positive UK economic data, and is now eyeing key resistance levels.

Immediate resistance is seen at $1.3427, followed by $1.3456 and $1.3487. A break above $1.3427 could pave the way for further gains, potentially targeting $1.3456 in the near term.

On the downside, immediate support lies at $1.3359, with subsequent support levels at $1.3334 and $1.3312. The 50-day Exponential Moving Average (EMA) at $1.3390 serves as a key short-term support level, and any sustained move below this point could shift the sentiment back to bearish.

Additionally, the Relative Strength Index (RSI) is currently at 58, indicating that the pair is not overbought, leaving room for potential further upside before reaching overextended levels.

Traders looking to capitalize on the current momentum might consider entering long positions above $1.3390, targeting $1.3448 with a stop-loss set around $1.3362 to limit downside risk. The GBP/USD outlook will remain dependent on upcoming economic data releases from both the UK and the U.S., with particular focus on U.S. jobs data and any potential shifts in Federal Reserve policy.

In summary, GBP/USD is trading with a slight bullish bias, holding above its pivot point. A break above $1.3427 could further strengthen the pair’s upward momentum. However, any move below $1.3359 would negate this bias and possibly lead to a retest of lower support levels.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33897

Take Profit – 1.34478

Stop Loss – 1.33621

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$581/ -$276

Profit & Loss Per Mini Lot = +$58/ -$27

Daily Price Outlook

- Immediate resistance is at $1.1183; a break above could target $1.1198 and $1.1214.

- Support is firm at $1.1154, with the 50 EMA at $1.1162 providing additional backing.

- RSI at 51 signals neutral momentum; a move above 60 could indicate a bullish shift.

The EUR/USD pair is currently trading at $1.11672, down 0.14% in today’s session, as traders remain cautious ahead of key macroeconomic data releases. The pair is hovering around the pivot point of $1.1164, a critical level that could dictate the direction of the next move.

Immediate resistance is seen at $1.1183, followed by $1.1198 and a more significant level at $1.1214. A breakout above these levels could trigger bullish momentum, driving the pair higher.

On the downside, immediate support lies at $1.1154, with further supports at $1.1140 and $1.1126. These levels will be crucial in maintaining the pair’s current uptrend.

The 50-day Exponential Moving Average (EMA) at $1.1162 is providing immediate support, aligning closely with the pivot point. A sustained move above this EMA could signal bullish continuation, while a break below could lead to a deeper correction.

The Relative Strength Index (RSI) is at 51, indicating neutral momentum. This suggests the pair could go either way, depending on how it interacts with immediate support and resistance levels. If the RSI rises above 60, it could indicate a stronger bullish trend. However, a dip below 50 could shift the sentiment to bearish.

In conclusion, EUR/USD is at a critical juncture, with the potential for both bullish and bearish scenarios.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11637

Take Profit – 1.11938

Stop Loss – 1.11493

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$301/ -$144

Profit & Loss Per Mini Lot = +$30/ -$14

Daily Price Outlook

- Immediate resistance stands at $2,677.76, with further resistance at $2,685.83.

- The 50-day EMA at $2,664.45 is providing crucial short-term support.

- RSI at 53 indicates neutral momentum, with room for further gains or potential downside.

Gold (XAU/USD) is trading at $2,670.84, down 0.16% during today’s session, as it struggles to maintain its recent bullish momentum. The precious metal is hovering around key technical levels, with immediate support found at $2,659.88. A drop below this could see further downside toward $2,653.43, while strong resistance at $2,677.76 will be the first hurdle for bulls to overcome.

The 50-day Exponential Moving Average (EMA) is currently at $2,664.45, providing short-term support. If Gold prices remain above this level, the bullish trend could resume, targeting the next resistance at $2,685.83. A decisive break above this could open the door to test the psychological $2,700 mark. However, failure to hold the EMA could lead to further declines, with the next support seen at $2,646.49.

The Relative Strength Index (RSI) sits at 53, indicating neutral conditions. With room for further upward movement, the RSI suggests that Gold could still have some upside potential, especially if upcoming U.S. economic data triggers safe-haven demand. However, a cautious approach is recommended as any break below $2,660 could trigger a sharper selling trend.

In conclusion, Gold’s near-term outlook hinges on its ability to stay above the 50 EMA and immediate support levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Limit 2666

Take Profit – 2680

Stop Loss – 2660

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1400/ -$600

Profit & Loss Per Mini Lot = +$140/ -$60

Daily Price Outlook

- Immediate resistance stands at $5,766.23, with further resistance at $5,792.65.

- The 50-day EMA at $5,707.61 is a crucial support level to watch.

- RSI at 61 suggests bullish momentum, but caution is warranted with current price action.

The S&P 500 (SPX) is trading at $5,745.36, down 0.40% in today’s session, as markets remain cautious amid lingering economic uncertainty. The index is hovering below its pivot point at $5,778.74, with immediate support seen at $5,704.50. If this level holds, the index could bounce back toward resistance at $5,766.23, and further gains may lead it to challenge $5,792.65 and $5,819.96.

Technical indicators are mixed, with the 50-day Exponential Moving Average (EMA) at $5,707.61 acting as a critical support level. A sustained move above the 50 EMA could indicate the resumption of the broader uptrend. However, a failure to hold this level could see the index slipping further, with the next support at $5,676.00 and a deeper one at $5,648.18.

The Relative Strength Index (RSI) is currently at 61, signaling relatively strong bullish momentum. This suggests that the S&P 500 could find buying interest if it manages to stay above the key support areas. However, given the current economic backdrop and the index trading below the pivot point, investors should remain cautious, as downside risks persist.

In conclusion, while the technical outlook remains slightly bullish, the S&P 500’s price action will largely depend on its ability to hold above the 50 EMA and immediate support levels. Traders should watch key levels closely, as any move below $5,704.50 could signal deeper corrections.

S&P 500 - Trade Ideas

Entry Price – Buy Limit 5730

Take Profit – 5775

Stop Loss – 5705

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$450/ -$250

Profit & Loss Per Mini Lot = +$45/ -$25

Daily Price Outlook

- USD/JPY is approaching key resistance at 145.409, with a pivot point at 145.398.

- Immediate support at 143.968, reinforced by the 50-EMA at 144.016.

- RSI at 66 indicates the pair is nearing overbought territory, suggesting caution.

The USD/JPY pair is trading slightly higher at 144.877, marking a modest increase of 0.04% for the day. The pair is hovering near a crucial pivot point at 145.398, which could serve as a turning point for future price action.

Immediate resistance is found just above at 145.409, with further resistance levels at 145.973 and 146.514, which could become significant if the current upward momentum persists.

On the downside, immediate support stands at 143.968, followed by deeper supports at 143.475 and 142.910. The 50-day Exponential Moving Average (EMA), currently at 144.016, is providing strong dynamic support, suggesting the pair will remain buoyed above this level.

Meanwhile, the Relative Strength Index (RSI) is at 66, signaling that the pair is nearing overbought conditions, a potential indicator of short-term exhaustion.

Traders may consider a buy limit at 144.478, targeting the pivot point at 145.398, with a stop loss at 143.978 to mitigate downside risks. The overall trend remains bullish, as long as the price stays above the 50-EMA.

USD/JPY - Trade Ideas

Entry Price – Buy Limit 144.478

Take Profit – 145.398

Stop Loss – 143.978

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$920/ -$500

Profit & Loss Per Mini Lot = +$92/ -$50