Daily Price Outlook

- Immediate support at $1.3493, with further levels at $1.3467 and $1.3442.

- Immediate resistance at $1.3572, followed by $1.3601 and $1.3635.

- RSI at 39 suggests bearish momentum with possible further downside before a reversal.

The USD/CAD pair is currently trading at $1.35105, down 0.19%, as the U.S. dollar weakens against the Canadian dollar during the early trading hours.

The price has slipped below its 50-day Exponential Moving Average (EMA) of $1.3561, signaling growing bearish momentum in the short term.

Immediate support is found at $1.3493, a key level that, if broken, could lead to further downside towards $1.3467 and $1.3442.

On the upside, the pair faces immediate resistance at $1.3572, which aligns with the pivot point at $1.3544. A sustained break above this could challenge higher resistance levels at $1.3601 and $1.3635, though the current downtrend suggests selling pressure may persist.

The Relative Strength Index (RSI) stands at 39, indicating the pair is approaching oversold territory but has room for further declines before a significant reversal.

Traders are watching for a potential sell-off below the $1.35298 level, with a take-profit target set at $1.34758.

Overall, the technical setup favors bearish sentiment, especially with the price trading below the 50 EMA and the RSI leaning towards oversold. If support at $1.3493 gives way, a sharper decline could be triggered.

In conclusion, USD/CAD presents a bearish outlook below $1.35298, with a potential downside target of $1.34758 and stop-loss at $1.35619.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.35298

Take Profit – 1.34758

Stop Loss – 1.35619

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$540/ -$321

Profit & Loss Per Mini Lot = +$54/ -$32

Daily Price Outlook

- Gold’s pivot point at $2,630 is the immediate resistance level to watch for further upside.

- RSI at 71 suggests overbought conditions, signaling potential short-term corrections.

- The 50-day EMA at $2,585 provides strong support, maintaining the bullish trend.

Gold (XAU/USD) is showing bullish momentum as the price continues to edge higher, currently trading at $2,624.20, up by 0.27%.

The recent price action suggests the market is testing critical resistance levels, while overall momentum remains strong. With a 4-hour chart timeframe, traders are focusing on key technical levels to gauge the next possible moves.

Gold is hovering near the pivot point at $2,630, which serves as both an immediate resistance and a crucial level to watch. A successful break above this point could see gold testing higher resistance levels at $2,639 and $2,648.

However, if the price fails to breach this level, we could see a pullback toward immediate support at $2,609. Below that, key support levels lie at $2,600 and $2,589, which will be crucial to maintaining the overall uptrend.

The technical indicators support the bullish outlook. The RSI is at 71, indicating that gold is in overbought territory, which could potentially lead to a short-term correction.

Nevertheless, the 50-day EMA at $2,585 is providing a strong base for the upward trend, suggesting that any dips could be viewed as buying opportunities.

In conclusion, the current technical setup favors a buy-above strategy with an entry price at $2,616.

Traders should target $2,630 for profit-taking, while setting a stop-loss at $2,610 to manage downside risk. Given the overbought conditions, a cautious approach is advised as gold approaches key resistance.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2616

Take Profit – 2630

Stop Loss – 2610

Risk to Reward – 1: 2.3

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

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

Daily Price Outlook

- EUR/USD is consolidating near $1.11625, with resistance at $1.1181 and pivot at $1.1199.

- RSI at 58 signals mild bullish momentum, with room for further gains.

- The 50-day EMA at $1.1103 provides critical support, maintaining the bullish bias.

The EUR/USD pair is currently trading at $1.11625, marking a flat session with minimal movement. The market is in a phase of consolidation, with a neutral bias, though technical indicators suggest the potential for further upside in the coming sessions.

The key to unlocking the next move lies around the pivot point at $1.1199. Should the pair break above this level, immediate resistance awaits at $1.1181, followed by stronger barriers at $1.1210 and $1.1241.

On the downside, the first line of support is at $1.1118, with deeper supports at $1.1094 and $1.1067.

The technical indicators support a cautious bullish outlook. The Relative Strength Index (RSI) stands at 58, indicating positive momentum but not yet overbought territory, leaving room for further gains.

Meanwhile, the 50-day Exponential Moving Average (EMA) is positioned at $1.1103, providing a solid foundation for the pair. As long as the EUR/USD remains above this level, the overall trend favors the bulls.

In terms of trade strategy, a buy-above approach seems prudent, with an entry point at $1.11466. A reasonable profit target would be the pivot level of $1.11988, with a stop-loss set at $1.11174 to mitigate downside risk.

Given the relative calm in the market, the focus will be on whether the pair can gather enough momentum to break through resistance levels and sustain any rally.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11466

Take Profit – 1.11988

Stop Loss – 1.11174

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$522/ -$292

Profit & Loss Per Mini Lot = +$52/ -$29

Daily Price Outlook

- GBP/USD faces immediate resistance at $1.3361, with a pivot point at $1.3419 critical for further gains.

- RSI at 66 suggests overbought conditions may be approaching, indicating potential for a pullback.

- The 50-day EMA at $1.3005 provides robust support, helping to maintain the bullish outlook.

The GBP/USD pair is currently trading at $1.33131, down by 0.05% as the pound faces modest pressure amidst a subdued market environment.

Despite the minor dip, the broader technical outlook remains cautiously optimistic, with the pair poised near key levels. The pivot point stands at $1.3419, a critical juncture that, if breached, could signal further upward movement.

Immediate resistance is situated at $1.3361, with additional hurdles at $1.3438 and $1.3507. Should the pair rally above these levels, a renewed bullish push could unfold.

However, on the downside, the first support lies at $1.3198. A move below this level could trigger a deeper correction, with further supports at $1.3114 and $1.3035. These levels will be crucial in determining whether the pound can maintain its overall uptrend or if bearish momentum takes control.

Technically, the RSI is hovering at 66, suggesting that the pair is approaching overbought conditions, signaling caution for traders eyeing further gains.

Meanwhile, the 50-day Exponential Moving Average (EMA) sits at $1.3005, continuing to provide a solid foundation for the pair’s upward trajectory. As long as the price remains above this level, the broader trend remains supportive of the bulls.

In conclusion, a buy-above strategy remains attractive, with an entry price at $1.32643 and a profit target at the pivot level of $1.34194.

Traders should consider placing a stop-loss at $1.31995 to protect against downside risks, particularly if the pair fails to break above its immediate resistance.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.32643

Take Profit – 1.34194

Stop Loss – 1.31995

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$1551/ -$648

Profit & Loss Per Mini Lot = +$155/ -$64

Daily Price Outlook

- S&P 500 is bullish above $5,733.36, with resistance targets at $5,766.23 and $5,818.03.

- 50-day EMA at $5,558.58 supports the ongoing uptrend, maintaining bullish momentum.

- RSI at 67 suggests the market is nearing overbought territory, indicating potential for a brief pullback.

The S&P 500 index is currently trading at $5,713.65, up by 1.70%, as bullish sentiment continues to drive the market higher. With the price nearing a key pivot point at $5,733.36, traders are eyeing the next levels of resistance.

Immediate resistance is seen at $5,766.23, with further targets at $5,818.03 and $5,868.94. A break above these levels could indicate further upside, particularly if macroeconomic conditions remain supportive.

On the downside, immediate support lies at $5,687.97, followed by $5,650.83 and $5,603.38. A sustained break below these support levels could signal a trend reversal or at least a short-term correction.

The 50-day Exponential Moving Average (EMA) at $5,558.58 continues to provide strong support, maintaining the index's bullish structure as long as prices remain above this key technical level.

The Relative Strength Index (RSI) is currently at 67, nearing overbought conditions, which suggests the possibility of a brief consolidation or pullback in the near term.

However, the market appears to be in a strong uptrend, with any dips likely seen as buying opportunities unless the price breaks below the $5,650 level.

In conclusion, the technical outlook for the S&P 500 remains bullish above $5,733.36. Traders should watch for a break above $5,766.23 to confirm the continuation of the upward trend, while a move below $5,687.97 may signal the beginning of a corrective phase.

S&P 500 - Trade Ideas

Entry Price – Sell Below 5733

Take Profit – 5670

Stop Loss – 5766

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$630/ -$330

Profit & Loss Per Mini Lot = +$63/ -$33

Daily Price Outlook

- Gold trading near $2,600 with next resistance at $2,609.07 and $2,619.51.

- 50-day EMA at $2,578.06 provides solid support, maintaining the bullish outlook.

- RSI at 63 signals bullish momentum but approaches overbought territory, suggesting a potential pullback or consolidation.

Gold (XAU/USD) is currently trading at $2,593.96, up 0.25%, as it hovers near the psychological level of $2,600. With the price approaching key technical levels, the metal remains bullish in the short term.

The pivot point at $2,600 serves as a critical juncture. Immediate resistance is seen just above at $2,600.32, with further upside targets at $2,609.07 and $2,619.51. Should prices break above these levels, gold could see an extended rally, driven by positive momentum.

On the downside, immediate support is positioned at $2,577.27, followed by $2,564.14 and $2,551.52.

The 50-day Exponential Moving Average (EMA) at $2,578.06 is acting as a strong support level, ensuring the bullish bias remains intact unless broken.

The Relative Strength Index (RSI) stands at 63, signaling upward momentum but nearing overbought conditions, which could prompt a short-term pullback or consolidation around current levels.

A sustained break above $2,600 would confirm the continuation of the uptrend, while a fall below $2,577 could introduce selling pressure and test lower support levels.

Gold’s technical outlook remains favorable as long as the price holds above $2,578.06. Traders may want to keep an eye on broader economic data, particularly inflation figures, which could further support gold's appeal as a safe-haven asset amid ongoing market uncertainties.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2590

Take Profit – 2600

Stop Loss – 2580

Risk to Reward – 1: 1

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

Profit & Loss Per Mini Lot = +$100/ -$100

Daily Price Outlook

- EUR/USD bullish above $1.1146, with resistance targets at $1.1181 and $1.1210.

- 50-day EMA at $1.1131 supports the upward trend, reinforcing bullish sentiment.

- RSI at 58 suggests there is room for further gains before overbought conditions emerge.

The EUR/USD pair is trading at $1.11650, up by 0.04%, maintaining a slightly bullish tone as it holds above the key pivot point at $1.1146. Immediate resistance is seen at $1.1181, with additional resistance targets at $1.1210 and $1.1241.

A break above these levels could indicate further upside potential for the euro, especially if market sentiment towards the U.S. dollar remains weak.

On the downside, immediate support is located at $1.1118, followed by $1.1094 and $1.1067. These levels could serve as key turning points if bearish pressure intensifies.

The 50-day Exponential Moving Average (EMA) at $1.1131 is providing near-term support, reinforcing the bullish bias as long as prices stay above this level.

The Relative Strength Index (RSI) currently stands at 58, suggesting that the market still has room to move higher before hitting overbought territory. With the RSI not yet signaling overextension, there is potential for the pair to continue its upward momentum.

However, traders should monitor any break below $1.1118, which could signal a deeper pullback or trend reversal.

In conclusion, the EUR/USD outlook remains bullish as long as the pair holds above $1.1146. A break above $1.1181 would confirm continued bullish momentum, while a fall below $1.1118 could lead to a bearish correction.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11466

Take Profit – 1.11988

Stop Loss – 1.11174

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$522/ -$292

Profit & Loss Per Mini Lot = +$52/ -$29

Daily Price Outlook

- AUD/USD remains bullish above $0.6809, with key resistance at $0.6868 and $0.6888.

- 50-day EMA at $0.6749 provides strong support for the ongoing uptrend.

- RSI at 66 indicates approaching overbought territory, but momentum remains positive for now.

The AUD/USD pair is trading at $0.6872, up 0.83%, signaling bullish momentum as it moves above key technical levels. Immediate resistance lies at $0.6845, with further resistance targets at $0.6868 and $0.6888. On the downside, immediate support is found at $0.6784, followed by deeper supports at $0.6750 and $0.6725.

The 50-day Exponential Moving Average (EMA) at $0.6749 is providing solid support, indicating that the current upward trend remains intact. The Relative Strength Index (RSI) sits at 66, suggesting the market is nearing overbought conditions, but still leaves room for further gains.

A break above $0.6868 would confirm the bullish trend, targeting the next resistance at $0.6888. However, if the pair falls below $0.6784, it could trigger a shift toward a more bearish outlook, testing the $0.6750 support level.

With China being a key trading partner for Australia, any news regarding China's economic performance or trade relations will likely influence the next move for AUD/USD. Additionally, the U.S. dollar’s performance following the Federal Reserve’s recent interest rate decisions will play a critical role in the pair’s trajectory.

In summary, AUD/USD shows strong bullish signals but faces immediate resistance. Traders should watch for a breakout above $0.6868 to confirm further upward momentum.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.68086

Take Profit – 0.68511

Stop Loss – 0.67830

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$425/ -$256

Profit & Loss Per Mini Lot = +$42/ -$25

Daily Price Outlook

- Gold remains bullish above $2,575, with resistance levels at $2,589.57 and $2,601.99.

- 50-day EMA provides strong support, ensuring stability near $2,575.37.

- RSI at 55 indicates steady buying momentum, with potential for further upside above $2,589.57.

Gold (XAU/USD) is trading at $2,575.97, up 0.19%, holding steady above key technical levels, signaling potential bullish momentum. The immediate resistance is seen at $2,589.57, with further resistance at $2,601.99 and $2,612.69. On the downside, immediate support is at $2,555.78, followed by $2,545.84 and $2,535.16.

The 50-day Exponential Moving Average (EMA) at $2,575.37 is acting as crucial near-term support, reinforcing the upward trend. The Relative Strength Index (RSI) stands at 55, indicating moderate buying interest, yet still leaving room for additional gains.

If gold breaks above $2,589.57, it may open the door for further gains towards the $2,600 mark. However, a failure to hold above $2,555.78 could trigger bearish pressure, bringing prices down towards the lower support levels.

With global economic uncertainty and a weaker US dollar following the Fed’s recent monetary easing, gold continues to benefit from its safe-haven appeal. The near-term outlook remains bullish as long as prices hold above the $2,568 level.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2568

Take Profit – 2597

Stop Loss – 2553

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$2900/ -$1500

Profit & Loss Per Mini Lot = +$290/ -$150

Daily Price Outlook

- USD/JPY is bullish above 142.44, with resistance targets at 143.17 and 143.97.

- 50-day EMA at 141.22 offers strong support, keeping the trend positive in the short term.

- RSI at 54 indicates neutral momentum with the potential for further gains if resistance is broken.

USD/JPY is trading at 142.32, up 0.05%, indicating a mild upward trend as the pair holds above key support levels. The immediate resistance is noted at 142.44, with further resistance at 143.17 and 143.97. On the downside, immediate support is at 140.46, followed by 139.70 and 138.95, marking significant levels where the price could potentially reverse.

The 50-day Exponential Moving Average (EMA) at 141.22 acts as critical support, providing stability for near-term bullish sentiment. The Relative Strength Index (RSI) is currently at 54, reflecting neutral-to-bullish momentum, signaling that the market still has room for further upward movement.

A break above 142.44 could confirm a bullish bias, paving the way toward the next resistance level at 143.17. However, if USD/JPY falls below 140.46, the short-term trend could turn bearish, testing the lower support at 139.70.

The broader outlook for USD/JPY remains influenced by the divergent monetary policies between the U.S. Federal Reserve and the Bank of Japan. While the Fed signals caution after its recent rate adjustments, the Bank of Japan maintains its dovish stance, providing continued support for the dollar against the yen.

USD/JPY - Trade Ideas

Entry Price – Buy Above 141.895

Take Profit – 143.184

Stop Loss – 141.270

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1289/ -$625

Profit & Loss Per Mini Lot = +$12/ -$62