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

- Gold holds above the key $3,111 pivot, sustaining bullish bias.

- RSI recovery signals potential for a continuation move.

- Buy setup confirmed above $3,111 with target at $3,144.

Gold (XAU/USD) is maintaining its broader uptrend, holding within a well-defined ascending channel. After a brief correction that saw prices dip to an intraday low of $3,112.21, the metal has rebounded and is currently trading near $3,125.00.

The bullish structure remains intact as long as gold sustains above the 50-period EMA at $3,097.88. The recent pullback found support just above the $3,100.00 handle—a level that aligns with both the lower band of the channel and the 23.6% Fibonacci retracement from the late-March rally.

The pivot point sits at $3,112.21, a critical zone where buyers have returned repeatedly. Immediate resistance is seen at $3,144.00, followed by a stronger ceiling at $3,148.62.

A breakout above this area could open the path toward the next resistance at $3,165.66. On the downside, key support rests at $3,100.07, with additional cushions forming at $3,094.00 and $3,079.05.

The Relative Strength Index (RSI) is currently at 55.86, recovering from oversold territory and suggesting renewed bullish momentum, although not yet signaling overbought conditions.

The 50 EMA at $3,097.88 is sloping upward, reinforcing the short-term bullish bias, while price action remains comfortably above the psychological support at $3,100.

As long as XAU/USD holds above $3,111.00, the risk remains tilted to the upside. Traders may consider long positions above this level with a target at $3,144.00 and a protective stop at $3,094.00. Failure to hold above $3,100.00, however, could trigger a broader correction.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3111

Take Profit – 3144

Stop Loss – 3094

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$3300/ -$1700

Profit & Loss Per Mini Lot = +$330/ -$170

Daily Price Outlook

- EUR/USD is holding just above breakout support at $1.0787.

- RSI rebound and trendline break hint at recovery potential.

- Entry confirmed above $1.0787, target set at $1.0848, stop at $1.0757.

EUR/USD is attempting to stabilize above the $1.0787 mark, a key level near the breakout zone of a descending channel that had previously capped upside momentum throughout March.

Price action is currently consolidating near the 50-period SMA, which sits at $1.0803, acting as dynamic resistance. The RSI has improved modestly to 47.96, suggesting neutral momentum with a slight bullish tilt as it creeps back toward the 50 line.

The pair recently bounced from a low of $1.0740, which held as a critical support area. A confirmed break above the $1.0787 pivot opens the door toward $1.0848—yesterday’s high and the next major resistance.

The short-term structure shows buyers gradually reclaiming lost ground, but sustained bullish momentum requires a clean move above the 50-SMA and break of the recent high.

On the downside, $1.0784 acts as immediate support, followed by the stop-loss buffer at $1.0757 and a more significant support zone at $1.0733. Any breach below these levels would signal weakness and could reignite bearish pressure.

The EUR/USD outlook remains cautiously bullish if price sustains above $1.0787. A break higher could expose $1.0848, while failure risks another dip toward $1.0757.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.07877

Take Profit – 1.08485

Stop Loss – 1.07579

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$608/ -$298

Profit & Loss Per Mini Lot = +$60/ -$29

Daily Price Outlook

- GBP/USD hovers above trendline support at $1.2909.

- Momentum lacks conviction; RSI near midline.

- Bullish trigger lies above $1.2909, targeting $1.2966.

GBP/USD is consolidating just above the $1.2909 threshold, testing trendline support while trading slightly below the 50-SMA at $1.2932.

The pair’s structure is largely range-bound, with repeated attempts to break above $1.2972 meeting firm resistance.

Today’s price action remains cautious as traders await fresh macro catalysts. The RSI stands at 48.50, signaling indecision with a slight bearish divergence against recent higher lows in price.

A break and sustained move above the entry trigger at $1.2909 could initiate a recovery toward $1.2966, which marks the top of the recent range and immediate resistance.

The bullish case is supported by a confluence of support levels, including rising trendline support from the March lows and the psychological zone near $1.2874.

However, any failure to hold the $1.2874 level would likely expose $1.2843 and potentially $1.2813, reintroducing a bearish bias in the near term.

The technical bias remains neutral-to-bullish above $1.2909. A breakout above $1.2932 could lift the pair toward $1.2966, while a drop below $1.2874 would negate the setup.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.29098

Take Profit – 1.29660

Stop Loss – 1.28731

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$562/ -$367

Profit & Loss Per Mini Lot = +$56/ -$36

Daily Price Outlook

- AUD/USD rejected from descending trendline and 50-SMA near $0.6290

- RSI confirms bearish momentum under 50

- Breakdown below $0.6250 could target $0.6218 in the near term

The Australian Dollar remains under sustained selling pressure, with AUD/USD extending its downside drift below the 50-period simple moving average and clinging to the lower bounds of a descending trend channel.

After failing to sustain gains above the $0.6290 region, price broke below the key $0.6289 SMA and is now positioned precariously near short-term support at $0.6250. The inability to retake the upper trendline or the moving average reflects persistent bearish sentiment.

The recent rejection from the $0.6330 resistance—coupled with the channel breakdown—points to an increasing probability of continuation toward the next key horizontal support at $0.6217.

Momentum indicators reinforce the bearish outlook: the RSI is hovering at 41.30, below the midline and signaling weak upside momentum, while the price remains capped under a firm downtrend line that has held since March 19.

A confirmed breach below $0.6250 could accelerate losses toward the $0.6218 and $0.6188 support levels. Meanwhile, resistance continues to stack at $0.6291 and $0.6330, with any rebounds likely to be short-lived unless the pair closes decisively above the falling trendline and 50-SMA.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.62911

Take Profit – 0.62176

Stop Loss – 0.63294

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$735/ -$383

Profit & Loss Per Mini Lot = +$73/ -$38

Daily Price Outlook

- USD/CAD breaks out of descending trendline, reclaiming bullish structure

- RSI confirms momentum shift with continued upside pressure

- As long as $1.4370 holds, bulls remain in control targeting $1.4450 and higher

USD/CAD has broken decisively above a multi-week descending trendline, signaling a potential bullish reversal as price reclaims ground above the 50-period simple moving average ($1.43219).

The pair’s upward momentum accelerated following the breakout from the $1.4370 resistance, which now flips to near-term support. Price is now hovering just below the $1.4450 zone, a level last tested mid-March.

The momentum shift is confirmed by the Relative Strength Index (RSI), currently reading 65.88 and trending higher—suggesting sustained buying interest without yet entering overbought territory.

The bullish crossover of the RSI and its moving average line reinforces this positive momentum. The 50-SMA, once resistance, is now providing dynamic support and aligning with the former descending trendline, offering technical confluence.

If price sustains above the $1.4370 breakout level, upside potential remains toward the $1.4450–$1.4526 resistance corridor. Conversely, a drop back below $1.4315 could invalidate the breakout and expose the pair to renewed bearish pressure toward $1.4237 and $1.4160.

Overall, technicals support a bullish near-term outlook, with momentum, structure, and breakout signals all aligned in favor of further gains—provided price holds above the $1.4370 pivot.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.43714

Take Profit – 1.44507

Stop Loss – 1.43050

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$793/ -$664

Profit & Loss Per Mini Lot = +$79/ -$66

Daily Price Outlook

- Gold remains inside a strong ascending channel, with bullish bias intact above $3,127.

- RSI cooling from highs suggests consolidation, not reversal.

- A break above $3,148 may trigger upside toward $3,165 and $3,185.

Gold prices remain firmly bid, holding within a well-defined ascending channel that has underpinned the bullish trend since March 25.

The metal continues to find strong dip-buying interest, with the recent pullback stalling above the $3,127 pivot point—coinciding with the lower boundary of the bullish channel and offering technical validation for near-term support.

Despite a minor correction from intraday highs around $3,148, gold bulls appear to be defending the structure, and the broader uptrend remains intact barring a breakdown below $3,110.

The Relative Strength Index (RSI) has cooled to 58.93 from overbought territory, signaling a pause in momentum rather than a trend reversal.

Meanwhile, the 50-period SMA at $3,106.56 continues to track closely below price, reinforcing the strength of the underlying trend and providing dynamic support.

A confirmed move above $3,148 could open the door toward $3,165 and potentially challenge the $3,185 level, where previous supply zones could re-emerge.

Conversely, a break below $3,127 may signal further profit-taking, exposing $3,110 and $3,099 as next downside targets.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3127

Take Profit – 3160

Stop Loss – 3110

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$3300/ -$1700

Profit & Loss Per Mini Lot = +$330/ -$170

Daily Price Outlook

- EUR/USD breaks above descending channel and 50 EMA

- RSI at 61.78 confirms bullish momentum

- Price structure favors buying above $1.08120 with $1.08849 target

The euro is showing signs of a trend reversal after a decisive breakout above the descending channel that had constrained price action since mid-March.

Trading at $1.08217, EUR/USD has cleared the key pivot level of $1.08120, signaling renewed bullish interest and a potential shift in short-term market sentiment.

The move comes after a sharp rebound from the $1.07585 level, backed by a breakout above the 50-period SMA ($1.07913), now acting as dynamic support.

The recent rally is technically significant, as it follows weeks of downward momentum and coincides with a strong RSI rebound.

The Relative Strength Index currently reads 61.78, pointing to growing bullish momentum without yet entering overbought territory.

Traders are eyeing a move toward the next resistance levels at $1.08544 and $1.08849, with extended upside potential toward $1.09177.

The setup favors a continuation higher, particularly if EUR/USD holds above the $1.08120 pivot. A failure to maintain this breakout level could lead to a retest of $1.07585 and, if breached, expose support at $1.07214 and $1.06780.

For now, however, the price structure favors buying dips, with the breakout confirmed by both price action and momentum.

A favorable risk-reward setup is evident for long positions entered above $1.08120, targeting $1.08849, with a stop loss below $1.07585.

The shift in structure and the break above the channel suggest further gains are likely, barring any major macro-driven dollar strength.

EUR/USD has confirmed a bullish breakout above $1.08120. The trend favors upside toward $1.08849, while $1.07585 remains key support to protect the bias.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.08120

Take Profit – 1.08849

Stop Loss – 1.07585

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$729/ -$535

Profit & Loss Per Mini Lot = +$72/ -$53

Daily Price Outlook

- Gold breaks above $3,077, confirming short-term bullish momentum.

- RSI at 66.95 suggests room for further upside without overextension.

- Channel support and SMA alignment keep the bias bullish unless $3,065 fails.

Gold continues to extend its bullish trajectory, with XAU/USD trading at $3,085.34 after breaking above the short-term pivot at $3,077.

The move confirms bullish continuation within a well-established ascending channel, as buyers maintain control despite broader macroeconomic uncertainties.

The recent breakout is supported by favorable momentum and strong trend structure, reinforcing the case for additional upside toward $3,105 and potentially $3,118.82.

The 50-period Simple Moving Average, currently at $3,037.63, has provided consistent dynamic support, aligning with the channel's lower boundary.

The Relative Strength Index (RSI) holds at 66.95, suggesting momentum remains healthy without tipping into extreme overbought territory.

A potential trade setup emerges with a buy entry above $3,077, targeting $3,105 as the primary resistance, with a stop loss set at $3,065. This configuration offers a compelling risk-to-reward ratio of approximately 1:2.3.

As long as the price holds above $3,070, the bias remains firmly bullish. However, any drop below the $3,065 support could trigger a short-term correction toward $3,055 and possibly $3,037.

This technical structure continues to favor the bulls, supported by rising moving averages, solid channel support, and a well-behaved RSI.

Traders should monitor price action closely near the $3,105 resistance, as a break above this level could open the door to fresh highs toward $3,118.82.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3077

Take Profit – 3105

Stop Loss – 3065

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$2800/ -$1200

Profit & Loss Per Mini Lot = +$280/ -$120

Daily Price Outlook

- GBP/USD rejected from descending trendline near $1.29582

- RSI below 50 shows waning bullish strength

- Breakdown below $1.29187 favors a move toward $1.28670

The British pound is once again testing the lower end of a narrow consolidation zone as GBP/USD slips to $1.29331.

Price action remains range-bound below the descending trendline extending from the March high, with bearish pressure mounting as the pair struggles to reclaim the $1.29582 resistance.

The pair is now hovering just above a key pivot zone at $1.29187—an area that, if broken, could shift momentum firmly in favor of the bears.

The setup favors a short position below $1.29187, targeting $1.28670 as the next support, with a protective stop placed at $1.29582.

This configuration offers a risk-reward ratio of approximately 1:2, ideal for short-term positioning in a market that remains technically indecisive.

RSI currently reads 48.36—below the neutral midpoint—indicating fading bullish momentum and the potential for a deeper pullback if price closes below support.

The 50-period Simple Moving Average sits at $1.29286 and is now flatlining, suggesting a loss of directional bias.

However, a break below the moving average and horizontal support could open the door to further downside toward $1.28300.

Meanwhile, bulls would need to clear $1.29704 to invalidate the bearish scenario and shift momentum higher toward $1.30143.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29187

Take Profit – 1.28670

Stop Loss – 1.29582

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$517/ -$395

Profit & Loss Per Mini Lot = +$51/ -$39