Daily Price Outlook

- Price remains capped below the 50-period SMA and descending trendline.

- Support at $1.41024 is key for confirming further downside.

- Momentum favors bears unless $1.42204 is reclaimed with strength.

USD/CAD is trading at $1.41636, leaning bearish after failing to break above the $1.42204 resistance level. The pair continues to struggle under a descending trendline and the 50-period SMA at $1.42646, both of which cap upside momentum.

Price recently attempted a corrective move, but selling pressure resumed near $1.42200, suggesting bears remain in control. The setup shows potential for a deeper decline, particularly if price breaks and holds below $1.41600.

On the downside, key support is seen at $1.41024—just above the April low. A break beneath this level could open the door to $1.40308 and potentially $1.39619 in extension.

The RSI at 41.16 remains below the neutral 50 mark, indicating momentum is soft and still favors sellers. If price fails to reclaim $1.42204 and stays below the 50 SMA, a bearish continuation becomes increasingly likely.

Traders will want to see a sustained move under $1.41600 to confirm the breakout, ideally on increased volume and without immediate rejection. Until then, short-term price action remains vulnerable to minor retracements.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.42204

Take Profit – 1.41024

Stop Loss – 1.43052

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1180/ -$848

Profit & Loss Per Mini Lot = +$118/ -$84

Daily Price Outlook

- Gold rejected at broken trendline near $3,046

- 50 EMA acting as firm resistance at $3,101

- Bearish momentum may resume below $3,013

Gold prices are under pressure following a decisive breakdown below both the ascending trendline and the $3,046 horizontal support, which previously acted as a pivot area for bulls. After slipping as low as $3,003, buyers briefly stepped in near the 200-period EMA, but the rebound lacked conviction.

Price is currently pinned under the $3,046 resistance zone and struggling to reclaim ground above $3,062. This resistance band, once supportive, now acts as a ceiling for any meaningful recovery. The technical landscape has turned bearish unless gold reclaims and closes above the $3,062 level.

The broader market structure also reflects caution, as the 50 EMA at $3,101.72 is now sloping downward, providing additional headwind. Meanwhile, the RSI sits at 39.81, suggesting bearish momentum is in play but not yet stretched enough to imply oversold conditions.

A break below the $3,013 handle would signal renewed selling pressure, opening the path toward the psychological support at $3,000 and possibly extending to $2,970, the next major horizontal demand zone.

Bulls would need to regain control above $3,062 to neutralize the bearish bias and make a case for a push toward the 50 EMA and $3,087. Until that happens, any upside moves are likely to be viewed as relief rallies rather than the start of a sustained uptrend.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3046

Take Profit – 3013

Stop Loss – 3062

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$3300/ -$1600

Profit & Loss Per Mini Lot = +$330/ -$160

Daily Price Outlook

- EUR/USD holds trendline support above $1.09519

- Break above $1.10484 may confirm bullish continuation

- RSI and EMA support ongoing upside momentum

The EUR/USD is attempting to reclaim upside momentum against the U.S. dollar following a healthy pullback from $1.10484. Price action remains supported by a firm uptrend structure, with a rising trendline dating back to mid-March and the 50 EMA at $1.08619 now acting as dynamic support.

After rebounding off the $1.09519 level—a key horizontal and psychological zone—EUR/USD is showing renewed buying interest as it tests the pivot area near $1.1000. The recovery has paused just shy of immediate resistance at $1.10484, and a clean breakout above this zone would clear the path toward $1.11480 and $1.12208.

RSI is currently at 59.40 and turning higher, suggesting building momentum without being overbought. The pair remains technically constructive as long as price stays above the 50 EMA and ascending trendline. A break below $1.09519 would invalidate the immediate bullish bias, exposing downside risk toward $1.08617 and $1.07512.

Overall, the recent dip appears corrective, and the bullish trend remains intact unless key support levels fail. If bulls manage to secure a decisive close above $1.10484, continuation toward $1.11511 becomes increasingly probable, with higher resistance zones within reach.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.09504

Take Profit – 1.11511

Stop Loss – 1.08632

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$2007/ -$872

Profit & Loss Per Mini Lot = +$200/ -$87

Daily Price Outlook

- Bearish bias below $1.2955, with the 50 SMA and Fibonacci resistance reinforcing downside pressure.

- Support at $1.2821 is critical—a break below could accelerate the move toward $1.2769 and $1.2720.

- RSI at 38.71 signals increasing bearish momentum, with rallies likely to face resistance unless $1.2955 is reclaimed.

After an aggressive sell-off from $1.3206, the British pound (GBP/USD) has entered a corrective phase, but gains remain capped below the $1.2955 resistance level. The pair is trading just under the 50-period SMA at $1.2957, which coincides with the 38.2% Fibonacci retracement—now acting as resistance.

Price failed to sustain above the key pivot at $1.2913 and is hovering near a critical support zone. If this level breaks, it may open the door toward $1.2821, where the ascending trendline converges with horizontal support.

Downside pressure is reinforced by a sharply falling RSI, currently at 38.71, suggesting bearish momentum still has room to run. The 50 SMA has flattened, pointing to market indecision in the near term. A deeper pullback could extend toward $1.2769 or even $1.2720 if $1.2821 fails to hold.

That said, upside risks remain if GBP/USD can clear $1.2955 decisively. A sustained move higher could see the pair test $1.3014 and $1.3060—levels aligning with the 50% and 61.8% retracements of the recent drop.

However, without a clean break above the 50 SMA and Fibonacci cluster, rallies are likely to face selling pressure. Bias favors the downside as long as price stays below $1.2955. Break below $1.2821 opens room for deeper retracement toward $1.2720.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29548

Take Profit – 1.28216

Stop Loss – 1.30258

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1332/ -$710

Profit & Loss Per Mini Lot = +$133/ -$71

Daily Price Outlook

- Gold finds support above $3,090, holding within a rising channel.

- A break above $3,123 may target $3,148 and $3,167 resistance.

- Momentum remains cautious; watch RSI and 50 EMA for confirmation.

Gold continues to trade within a rising channel, showing signs of stabilization after recent volatility. The current price of $3,103.86 reflects a modest rebound from a key intraday low, finding support just above the pivot point at $3,090. With price now holding slightly above that level, bulls are attempting to reclaim control, though momentum remains cautious.

Immediate resistance is seen at $3,123, a level that aligns closely with the 50-period EMA at $3,121.96. A decisive break above this zone would expose $3,148 and $3,167, areas that previously capped upward movement. On the downside, $3,087 and $3,066 represent the next supports, with a sharper decline potentially targeting the channel's lower trendline near $3,054.

The RSI is currently at 45.80, suggesting neutral momentum after a pullback from overbought territory. This aligns with the recent correction, though the broader structure remains bullish as long as gold holds above the trendline and $3,066 support.

Technically, a buy signal is favored above $3,090, with a suggested take-profit at $3,123 and a protective stop-loss at $3,066. A close above the $3,123 resistance would likely validate a continuation toward the $3,148–$3,167 zone. Until then, traders should watch for price action clarity near the 50 EMA to confirm trend strength.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3090

Take Profit – 3123

Stop Loss – 3066

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$3300/ -$2400

Profit & Loss Per Mini Lot = +$330/ -$240

Daily Price Outlook

- EUR/USD holds firm above $1.1013, maintaining bullish structure

- RSI above 70 signals strong buying, though overbought

- Price target remains $1.1220, with support at $1.0893

The EUR/USD pair is advancing firmly, trading around $1.1062 after clearing the key psychological resistance at $1.1013. This breakout has reinforced bullish momentum, aided by a strong RSI reading of 72.24, which reflects overbought conditions but also sustained demand.

The pair is comfortably positioned above the 50-day SMA at $1.0626, with price action trending well within an ascending channel.

Immediate resistance is seen at $1.1147, with bulls eyeing extended targets at $1.1220 and $1.1286. On the downside, a break below $1.1013 would shift focus to $1.0943 and $1.0893, while $1.0783 serves as a deeper support level. Despite overbought RSI, the bullish structure remains intact unless $1.1013 is breached to the downside.

As long as EUR/USD holds above its pivot, momentum favors continued upside—particularly if macro data supports the euro or weakens the dollar.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10127

Take Profit – 1.12214

Stop Loss – 1.08934

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$2087/ -$1193

Profit & Loss Per Mini Lot = +$208/ -$119

Daily Price Outlook

- SPX trades below 5,494, reinforcing bearish sentiment.

- RSI indicates oversold conditions but no rebound yet.

- Bearish setup targets 5,291 with resistance near 5,640.

The S&P 500 is extending its corrective decline, slipping 0.86% to trade near 5,396.51 following a rejection below 5,640 resistance and a firm breakdown beneath the 5,494 pivot.

The price action has carved out a clear descending channel, with the index now approaching key support at 5,341.70. A breach below this level would expose the next bearish target at 5,291, reinforcing a negative technical bias in the short term.

Adding to the cautious tone is the RSI, currently hovering at 29.56—deep in oversold territory, but not yet signaling a reversal. The index continues to trade well below the 50-period SMA at 5,675, a level that also aligns with the upper bound of the descending trendline. Any bounce from current levels is likely to face strong resistance at 5,494 and then 5,640.

The broader structure suggests the market remains vulnerable to further downside, particularly if macroeconomic risks persist or if investors react negatively to upcoming job or inflation data. A bearish setup remains valid as long as SPX stays below 5,492, with a downside target at 5,291 and a stop loss at 5,641.

S&P 500 - Trade Ideas

Entry Price – Sell Below 5492

Take Profit – 5291

Stop Loss – 5641

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$2010/ -$1490

Profit & Loss Per Mini Lot = +$201/ -$149

Daily Price Outlook

- USD/JPY breaks rising channel, tests oversold levels

- RSI near 30 supports potential bounce from ¥146.60

- Reclaiming ¥148.095 could revive bullish sentiment

The U.S. dollar is rebounding modestly against the Japanese yen after a sharp intraday sell-off that broke decisively below the rising channel structure.

The pair fell from above ¥149, slicing through key support at ¥148.095 and triggering a steep drop toward a local low near ¥146.80. The price now sits just above the buy-entry zone at ¥146.607, where dip buyers may attempt to regain short-term control.

Technical damage has been done with the break below the 50-period SMA at ¥149.457, shifting the short-term bias to bearish.

However, momentum indicators suggest the decline may be overextended. The RSI currently reads 30.60, indicating the pair has reached oversold territory. If ¥146.607 holds, a recovery toward ¥148.655 is possible, in line with the previously tested support-turned-resistance level.

Below ¥146.607, further downside could accelerate toward the stop loss zone at ¥145.654. A break of this level may expose deeper levels at ¥144.979 and ¥144.226.

Conversely, a bullish reversal above ¥148.095 would shift the tone, reopening the path toward the 50-SMA at ¥149.457. Entry above ¥146.607 favors a rebound toward ¥148.655. Stop loss placed at ¥145.654 to manage downside exposure.

USD/JPY - Trade Ideas

Entry Price – Buy Above 146.607

Take Profit – 148.655

Stop Loss – 145.654

Risk to Reward – 1: 2.1

Profit & Loss Per Standard Lot = +$2048/ -$953

Profit & Loss Per Mini Lot = +$204/ -$95

Daily Price Outlook

- AUD/USD trades within a tightening triangle pattern

- $0.62650 serves as key technical pivot and entry level

- Break above $0.63130 could trigger broader upside momentum

The Australian dollar is trading near $0.6299, showing signs of bullish momentum after rebounding from the $0.62650 support zone.

This level, which aligns with the ascending trendline and previous demand area, has proven to be a key pivot in recent sessions.

The 50-period SMA at $0.62868 is now being tested as near-term support after a strong upward move that briefly reached resistance at $0.63130.

Price action remains compressed within a broader symmetrical triangle pattern, with lower highs forming against a gradually rising support base.

A break above $0.63130 would signal renewed bullish control, potentially targeting the next resistance levels at $0.63406 and $0.63634.

On the downside, a sustained move below $0.62650 would expose deeper supports at $0.62333 and $0.62255. If breached, this could trigger a broader breakdown toward the base of the pattern near $0.61973.

The RSI at 55.39 shows mild bullish momentum, holding above its moving average. However, traders should watch for a confirmed close above $0.63130 before anticipating any significant upside extension.

Entry above $0.62650 remains valid while price holds trendline support. Targets lie near $0.63130 with a protective stop at $0.62333.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.62650

Take Profit – 0.63130

Stop Loss – 0.62333

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$480/ -$317

Profit & Loss Per Mini Lot = +$48/ -$31

Daily Price Outlook

- Gold trades within a rising channel, pivoting near $3,111 support

- RSI signals weakening momentum but no clear breakdown yet

- Break above $3,144 may expose $3,167 and channel top at $3,184

Gold continues to consolidate within a rising parallel channel, with price action testing support near the channel’s lower boundary around $3,111.

This level also coincides with the key pivot point, providing a critical juncture for short-term market direction. Price is currently hovering just below the 50-period Simple Moving Average (SMA), which is positioned at $3,128.34—acting as dynamic resistance in the current structure.

On the upside, immediate resistance sits at $3,144. A breakout above this level would signal renewed bullish momentum, exposing higher resistance targets at $3,148 and $3,167.

Beyond that, the next bullish target stands at $3,184, where the upper boundary of the channel may curb further gains. On the downside, a failure to hold $3,111 would likely invite fresh selling pressure, targeting $3,096 and $3,084 as next support zones.

The RSI is currently at 44.32, signaling weakening momentum after recently retreating from overbought territory.

The bearish divergence between price highs and RSI peaks suggests some fatigue among buyers. Still, the bullish channel remains valid, and traders are closely watching the $3,111 level as a potential re-entry point.

Bullish bias remains intact above $3,111. A long position from $3,111 with a target at $3,144 and stop loss at $3,096 offers a favorable risk-reward.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3111

Take Profit – 3144

Stop Loss – 3096

Risk to Reward – 1: 2.2

Profit & Loss Per Standard Lot = +$3300/ -$1500

Profit & Loss Per Mini Lot = +$330/ -$150