Daily Price Outlook

- Gold is hovering around the critical $2,496 pivot point, with a bearish bias.

- RSI indicates mild bearish momentum, with a value of 40, signaling potential further downside.

- A break below $2,496 could target $2,475, while holding above this level might invite a correction.

Gold (XAU/USD) is trading at $2,486.21, down 0.27%, as bearish sentiment continues to weigh on the metal. The immediate pivot point rests at $2,496.11, just below the 50-day Exponential Moving Average (EMA) of $2,507.69.

This region represents a critical short-term threshold that, if breached, could invite further selling pressure. The next resistance levels to watch are $2,527.08 and $2,540.41, but the downside remains more compelling at the moment, with immediate support forming at $2,467.35.

The Relative Strength Index (RSI) sits at 40, signaling mild bearish momentum as prices approach oversold territory. A further breakdown below $2,467.35 could drive the metal toward deeper support at $2,452.84, with the next significant level at $2,480.08.

Gold's trajectory remains heavily dependent on its ability to sustain above the $2,496 pivot. If it holds, a bullish correction could emerge. However, a decisive break below $2,496 would likely trigger a sharp sell-off, targeting $2,475.

The price action will remain influenced by external factors, such as the U.S. dollar’s strength and global market risk sentiment, both of which have been pivotal in driving gold’s recent moves.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2496

Take Profit – 2475

Stop Loss – 2507

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$2100/ -$1100

Profit & Loss Per Mini Lot = +$210/ -$110

Daily Price Outlook

- GBP/USD hovers near a critical pivot point of $1.31620, leaning towards the bearish side.

- RSI at 39 suggests rising bearish momentum, but there is room before oversold conditions.

- A break below $1.31218 could drive the pair lower toward $1.30410, with support levels in focus.

The GBP/USD pair is trading at $1.31136, with a modest gain of 0.01%. Currently, the pair is hovering near a crucial pivot point at $1.31620, signaling potential indecision in the market.

The 50-day Exponential Moving Average (EMA) rests at $1.31695, just above the current price level, reinforcing the significance of the resistance at $1.31880. A break above this resistance could open the door for gains toward $1.32269, but for now, the downside appears to dominate the outlook.

The Relative Strength Index (RSI) is at 39, suggesting that bearish momentum is gaining strength, but it is not yet in oversold territory. If the pair breaks below the immediate support at $1.31218, we could see a test of lower levels, with the next support sitting at $1.30784. Further declines may push GBP/USD toward $1.30410 and $1.30111, which will be key areas for bulls to defend.

For today, the key battle lies around the $1.31620 pivot. A failure to break this level would likely result in a bearish continuation, with selling pressure intensifying if $1.31218 is breached. On the upside, a break above $1.31880 could trigger a bullish reversal, but the pair remains constrained by the broader downward trend.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.31218

Take Profit – 1.30649

Stop Loss – 1.31504

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$569/ -$286

Profit & Loss Per Mini Lot = +$56/ -$28

Daily Price Outlook

-  Gold struggles below $2,507 after breaking from an ascending triangle.

- Immediate support is seen at $2,491; resistance at $2,508.

- Sell setup below $2,507, targeting $2,492 with a stop loss at $2,517.

Gold is currently trading around $2,503, facing a critical juncture on the 2-hour chart. After breaking down from an ascending triangle pattern, the price has been hovering near the $2,503 level, struggling to reclaim its previous bullish momentum. This breakdown is significant as the ascending triangle was providing support around the $2,507 level, and the recent price action suggests that the bears are gaining control.

On the technical front, the pivot point is situated at $2,507, which is now acting as a critical resistance. Immediate resistance stands at $2,508, followed by stronger resistance levels at $2,514 and $2,517. On the downside, the immediate support is at $2,491, with subsequent support levels at $2,480 and $2,471. The 50 EMA, currently positioned at $2,508, is acting as a ceiling for the price, preventing any meaningful recovery.

The Relative Strength Index (RSI) is currently at 44.41, indicating neutral momentum but with a slight tilt towards oversold conditions. This could imply a potential reversal or consolidation phase if the selling pressure continues to mount. However, the key to watch is whether the price can break back above the 50 EMA at $2,508, which could signal a shift in momentum.

In conclusion, Gold's recent breakdown from the ascending triangle pattern around the $2,507 mark has opened the door for further downside potential. If the price remains below $2,507, the bearish momentum could accelerate, targeting the next support at $2,491 and potentially down to $2,480 or even $2,471. Conversely, a recovery above $2,508 could challenge resistance levels at $2,514 and $2,517. For traders, an entry point could be considered at a sell position below $2,507, with a take profit target set at $2,492 and a stop loss at $2,517 to manage risk effectively.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2507

Take Profit – 2492

Stop Loss – 2517

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1500/ -$1000

Profit & Loss Per Mini Lot = +$150/ -$100

Daily Price Outlook

- USD/CAD breaks above $1.3502, signaling potential for further gains.

- RSI at 60.80 indicates increasing bullish momentum.

- Key resistance at $1.3549 aligns with the 61.8% Fibonacci retracement level.

The USD/CAD pair is currently trading around $1.3525, showing signs of a potential bullish reversal after a period of decline. The pair has recently broken above the 50-day EMA, which is now acting as immediate support around $1.3502, suggesting a shift in momentum. The current price action indicates that if the pair maintains this level, it could extend gains towards higher resistance levels.

Key resistance levels to watch include $1.3549, which aligns with the 61.8% Fibonacci retracement level, followed by $1.3577 and $1.3614. These levels represent critical barriers where selling pressure could re-emerge. On the downside, immediate support lies at $1.3502 (pivot point), with further support levels at $1.3482 and $1.3447.

Technical indicators are favoring a continuation of the bullish trend. The RSI is currently at 60.80, reflecting the increasing buying momentum as the pair approaches overbought territory. The 50-day EMA at $1.3502 provides a critical support zone, and a close above this level would further validate the bullish outlook.

Given the recent breakout above key levels, a buy position above $1.3507 could be considered, targeting $1.3561 with a stop loss at $1.3470 to manage potential downside risk.

The overall sentiment is cautiously optimistic, with the potential for further gains if the pair sustains above the $1.3502 pivot point.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.35076

Take Profit – 1.35614

Stop Loss – 1.34706

Risk to Reward – 1: 1.45

Profit & Loss Per Standard Lot = +$538/ -$370

Profit & Loss Per Mini Lot = +$53/ -$37

Daily Price Outlook

- AUD/USD is trading below the key support of $0.6754, now acting as resistance.

- RSI at 33.73 indicates oversold conditions, signaling potential short-term rebounds.

- Bearish momentum could continue towards $0.6720 and beyond if selling pressure persists.

The Australian Dollar (AUD/USD) is currently trading around $0.6742, showing signs of a bearish continuation following a recent breakdown. The pair is under pressure as it trades below the key support level of $0.6754, now acting as immediate resistance. The breakdown below this level has opened the door for further declines towards the next support levels.

The pivot point for today’s session is at $0.6754, which also marks the immediate resistance. Should the pair attempt a recovery, it may find resistance at $0.6770, with the next levels of resistance at $0.6784 and $0.6793. On the downside, immediate support lies at $0.6720, followed by $0.6699 and $0.6677.

Technical indicators are pointing towards continued bearish momentum. The Relative Strength Index (RSI) is currently at 33.73, indicating oversold conditions, which could suggest a potential short-term rebound before the downtrend resumes. The 50-day Exponential Moving Average (EMA) is positioned at $0.6784, reinforcing the resistance around this level.

Given the recent price action and the technical indicators, a sell position below $0.6754 could be considered, with a take profit target at $0.6720 and a stop loss set at $0.6770 to manage risk. The breakdown below key support levels suggests that the bears are in control, and the pair could see further declines if it remains below the $0.6754 pivot point.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.67540

Take Profit – 0.67200

Stop Loss – 0.67700

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$340/ -$160

Profit & Loss Per Mini Lot = +$34/ -$16

Daily Price Outlook

- Bearish Outlook: Gold remains under pressure below the $2,504.66 pivot, with RSI at 40 indicating further downside potential.

- Resistance Levels: Immediate resistance is seen at $2,514.84, with additional targets at $2,529.23 and $2,540.41.

- Support Levels: Key support is found at $2,491.71, followed by $2,480.08 and $2,471.29.

Gold (XAU/USD) is currently trading at $2,497.50, reflecting a decline of 0.30% as it remains under pressure amidst a strengthening US Dollar.

The 4-hour chart reveals that Gold is trading just below a key pivot point at $2,504.66, which serves as a critical level for determining the near-term direction.

A break above this pivot could see the precious metal testing immediate resistance at $2,514.84, with subsequent targets at $2,529.23 and $2,540.41.

However, the technical indicators suggest a bearish bias. The Relative Strength Index (RSI) stands at 40, indicating that momentum is leaning towards the downside but is not yet in oversold territory.

Additionally, Gold is trading below its 50-day Exponential Moving Average (EMA) at $2,512.02, reinforcing the bearish outlook. Immediate support is located at $2,491.71, with further levels at $2,480.08 and $2,471.29.

Given the current technical setup, traders may consider short positions below the pivot point at $2,504.66, targeting the $2,487.00 level.

Conversely, a break above $2,505 could invalidate this bearish view, paving the way for a potential rally towards higher resistance levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2505

Take Profit – 2487

Stop Loss – 2515

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1800/ -$1000

Profit & Loss Per Mini Lot = +$180/ -$100

Daily Price Outlook

- Bearish Bias: GBP/USD is under pressure below the $1.3156 pivot, with the RSI at 40 indicating further downside risk.

- Resistance Levels: Immediate resistance is seen at $1.3188, with additional targets at $1.3227 and $1.3265.

- Support Levels: Key support is found at $1.3119, followed by $1.3078 and $1.3041.

The GBP/USD pair is currently trading at $1.31347, showing a slight uptick of 0.02% in early trading.

The currency pair is hovering just below the pivotal $1.3156 level, which serves as a crucial point in determining the next directional move.

The 4-hour chart indicates that the pair faces immediate resistance at $1.3188, which aligns closely with the 50-day Exponential Moving Average (EMA).

A break above this level could push the pair towards the next resistance levels at $1.3227 and $1.3265.

On the downside, GBP/USD finds immediate support at $1.3119, with further support levels at $1.3078 and $1.3041.

The Relative Strength Index (RSI) is currently at 40, signaling that the pair is leaning towards a bearish trend, but is not yet in oversold territory.

This suggests that there could be more room for downside movement if the pair fails to hold above the key pivot point at $1.3156.

Given the current technical setup, traders might consider short positions below $1.3156, with a potential target around $1.3111.

Conversely, a break above $1.3188 would likely invalidate this bearish outlook, potentially setting the stage for a rally towards the $1.3227 level and beyond.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.31556

Take Profit – 1.31111

Stop Loss – 1.31865

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$445/ -$309

Profit & Loss Per Mini Lot = +$44/ -$30

Daily Price Outlook

- Bearish Bias: EUR/USD is under pressure below the $1.1070 pivot, with the RSI at 42 indicating potential for further downside.

- Resistance Levels: Immediate resistance is seen at $1.1101, with additional targets at $1.1140 and $1.1189.

- Support Levels: Key support is found at $1.1034, followed by $1.1000 and $1.0969.

The EUR/USD pair is currently trading at $1.10620, experiencing a slight gain of 0.02% in early trading.

The currency pair is hovering near the pivotal level of $1.1070, which serves as a crucial point for determining the next directional move.

The 4-hour chart shows immediate resistance at $1.1101, followed by higher resistance levels at $1.1140 and $1.1189. A successful break above these levels could set the stage for further bullish momentum.

On the downside, immediate support lies at $1.1034, with additional support at $1.1000 and $1.0969.

The Relative Strength Index (RSI) is currently at 42, suggesting that the pair is leaning towards a bearish bias but is not yet in oversold territory.

This implies that there may be room for additional downside movement if the pair fails to hold above the key pivot point at $1.1070.

The 50-day Exponential Moving Average (EMA), currently positioned at $1.1109, is acting as a resistance level, reinforcing the bearish outlook.

Given the current technical setup, traders might consider selling positions below $1.10831, with a potential target near the $1.10338 level.

Conversely, a break above $1.1101 could invalidate this bearish outlook, potentially paving the way for a rally toward $1.1140 and beyond.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10831

Take Profit – 1.10338

Stop Loss – 1.11194

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$493/ -$363

Profit & Loss Per Mini Lot = +$49/ -$36

Daily Price Outlook

- EUR/USD hovers near $1.10695 support, with RSI at 40 indicating slight bearish pressure.

- A break above $1.11005 pivot could target $1.11395 and $1.11892 resistance levels.

- Downside risks increase below $1.10695, with next support at $1.10337 and $1.09995.

The EUR/USD pair is currently trading at $1.10757, down 0.01% as it hovers just above a key support level at $1.10695. The market sentiment appears cautious, with the Relative Strength Index (RSI) at 40, signaling a slight bearish bias in the short term.

This reflects some downward pressure as the pair remains below the 50-day Exponential Moving Average (EMA) of $1.11355, indicating that the bears might still have some control.

The immediate pivot point at $1.11005 serves as a critical juncture for traders. A decisive break above this level could signal a potential recovery, with immediate resistance at $1.11395 and further targets at $1.11892.

On the downside, if the price slips below $1.10695, the next support lies at $1.10337, with additional support levels at $1.09995 and $1.09685. These levels are crucial for maintaining the current range, and a breach could open the door to more significant declines.

Given the current technical setup, traders might consider entering a long position above $1.10697, with a take profit target near $1.11188. A stop loss placed around $1.10430 could help mitigate downside risk if the support fails to hold.

Overall, EUR/USD is trading within a tight range, with the possibility of a breakout depending on how the price interacts with the $1.11005 pivot point. As the market awaits further directional cues, the pair’s movement around these key levels will be pivotal in determining the next trend.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10697

Take Profit – 1.11188

Stop Loss – 1.10430

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$491/ -$267

Profit & Loss Per Mini Lot = +$49/ -$26

Daily Price Outlook

- Gold consolidates near $2,512.36 with neutral RSI at 52.

- Key pivot at $2,529.23; breakout could target $2,544.34 and $2,560.54.

- Watch for a break below $2,512.36, which could drive prices towards $2,500.

Gold (XAU/USD) is currently trading at $2,519.84, down 0.07% on the day, as it hovers near the key support level of $2,512.36.

The metal remains caught in a narrow range, reflecting a lack of strong directional momentum. The Relative Strength Index (RSI) is neutral at 52, indicating that neither bulls nor bears have a clear upper hand in the short term.

Technically, Gold is positioned just above the 50-day Exponential Moving Average (EMA) at $2,515.16, providing near-term support. A critical pivot point lies at $2,529.23, which traders should closely monitor.

If the price breaks above this level, it could open the door to further gains, with immediate resistance at $2,544.34 and subsequent targets at $2,560.54.

However, failure to sustain above the pivot could lead to a retracement towards the immediate support at $2,497.03, with deeper support levels at $2,485.59 and $2,471.29.

The market’s indecision is highlighted by the tight trading range, with Gold consolidating between $2,512.36 and $2,529.23. This consolidation phase could precede a significant move.

Given the broader market context, a break above $2,529.23 could be an entry point for bullish positions, targeting $2,530 with a stop-loss just below $2,512 to manage risk effectively.

Conversely, a break below the $2,512.36 support could signal a bearish turn, potentially driving prices towards $2,500 and lower.

In summary, Gold's near-term outlook hinges on key levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2512

Take Profit – 2530

Stop Loss – 2500

Risk to Reward – 1: 5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Mini Lot = +$180/ -$120