USD/CAD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The USD/CAD pair is on a downward trend, challenging the crucial 1.3480 support level.
- A breach below might steer towards a bearish stance, aiming for 1.3400 and potentially 1.3359.
- Surpassing 1.3520 resistance could herald a return to bullish momentum with eyes set on 1.3585.
The USD/CAD currency pair has initiated a downward trajectory, exerting pressure on the pivotal support level at 1.3480. In light of this movement, it is prudent to remain neutral until a clearer directional signal emerges, which could be ascertained through either a breach of the aforementioned support or a surpassing of the 1.3520 resistance level.
It's crucial to underscore that if the support is compromised, it could pave the way for the currency pair to revert to a bearish trajectory, targeting subsequent levels at 1.3400 and then potentially 1.3359. Conversely, if the pair manages to overcome the resistance, it could potentially signify the rejuvenation of a bullish trend, with the next significant objective positioned at 1.3585.
For today's trading activities, the anticipated range is demarcated between the support at 1.3410 and the resistance at 1.3560. The prevailing sentiment for the day remains neutral.
USD/CAD - Trade Idea
Entry Price – Sell Below 1.35132
Take Profit – 1.33283
Stop Loss – 1.36014
Risk to Reward – 1: 2
Profit & Loss Per Standard Lot = +$1849/ -$882
Profit & Loss Per Micro Lot = +$184/ -$88
GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold's price has consistently descended, breaking and closing below the $1,873.50 benchmark.
- The bearish trend, influenced by the EMA50, suggests further decline, potentially reaching as low as $1,810.00.
- Trading for the day is anticipated to range between the $1,845.00 support and $1,880.00 resistance.
The price of gold has persistently declined, successfully breaching the $1,873.50 mark and culminating in a daily close below this threshold.
This trajectory has enabled it to reach our revised target of $1,860.00, and projections indicate a sustained downtrend, potentially touching new lows at $1,839.00 and extending to $1,810.00.
Given the prevailing conditions, the bearish sentiment is anticipated to dominate the foreseeable future, bolstered by the downward pressure exerted by the EMA50.
It's worth noting that a breakthrough above $1,873.50 could curtail the anticipated drop, prompting short-term recuperative endeavors.
Today's trading is predicted to oscillate between the support level of $1,845.00 and the resistance at $1,880.00.
GOLD(XAU/USD) - Technical Analysis
Entry Price – Buy Above 1864
Take Profit – 1883
Stop Loss – 1853
Risk to Reward – 1: 7
Profit & Loss Per Standard Lot = +$1900/ -$1100
Profit & Loss Per Micro Lot = +$190/ -$110
S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The S&P500's technical analysis for September 29 indicates a pivot at $4365.
- Key resistances at $4420, $4519, and $4569, and primary supports at $4269, $4217, and $4122.
- Chart patterns reveal a significant 38.2% Fibonacci Retracement at $4325, suggesting potential price movement, with an overall bullish trend expected if the price remains above $4270.
When conducting a technical analysis of the S&P500 for September 29, it's crucial to consider several key factors. The chart timeframe under scrutiny is 4 hours, with the pivot point being established at $4365.
In terms of resistance, there are three primary levels to observe: immediate resistance at $4420, followed by the next resistances at $4519 and $4569.
Conversely, support levels are delineated at $4269, with subsequent support points at $4217 and $4122. Analyzing technical indicators provides deeper insights.
The Relative Strength Index (RSI) currently stands at 43, which hints at a slightly bearish sentiment since an RSI value below 50 typically signifies a bearish market stance.
In the MACD readings, a value of 7 and a signal of -26 were recorded. Interestingly, the MACD line's position above its signal line suggests potential bullish momentum.
The 50-day Exponential Moving Average (50 EMA) is at $4360, and since the price is marginally above this point, a short-term bullish trend can be inferred. Chart patterns further reveal a Fibonacci Retracement, with the 38.2% level pinpointed at $4325.
This level's breach, in either direction, could offer clues about the asset's forthcoming trajectory.
In the short term, it's anticipated that the S&P500 will endeavor to test the resistance stationed at $4420.
S&P500 (SPX) - Trade Idea
Entry Price – Sell Below 4337
Take Profit – 4226
Stop Loss – 4408
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$111/ -$710
AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The AUD/USD pair is on a notable downtrend, approaching the 0.6330 target.
- Bearish momentum is forecasted to persist, driven by the EMA50, with eyes set on the 0.6275 level.
- Today's trading is expected to oscillate between a 0.6300 support and a 0.6400 resistance.
The AUD/USD pair exhibited a distinct downtrend, nearing our initial forecasted target of 0.6330. We project a continued bearish momentum with an aim to reach the subsequent level at 0.6275. This outlook is underpinned by the bearish pressure exerted by the EMA50.
It's imperative to note that the persistence of this bearish trend hinges on the price maintaining its position below the 0.6400 mark. For today's trading landscape, we anticipate a range between a support level at 0.6300 and a resistance threshold at 0.6400.
AUD/USD - Trade Idea
Entry Price – Sell Limit 0.63875
Take Profit – 0.63300
Stop Loss – 0.64342
Risk to Reward – 1: 1.2
Profit & Loss Per Standard Lot = +$575/ -$467
Profit & Loss Per Micro Lot = +$57/ -$46
GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold price holds at $1873.50; potential decline targets are $1860.00 and $1845.00.
- A failure to drop below $1873.50 could trigger a bullish shift towards $1890.00 and $1900.00.
- Today's expected trading range spans from a $1855.00 support to a $1890.00 resistance.
The gold price has stabilized at the $1873.50 mark following a pronounced downturn experienced the previous day. It's anticipated that should this level be breached, we could see further downward momentum targeting the $1860.00 mark, followed by the $1845.00 threshold.
Given this context, a bearish trajectory is projected for the near term. However, it's pivotal to note that any inability to move below the $1873.50 level could curtail this decline, potentially initiating a bullish adjustment with objectives set at the $1890.00 and subsequently the $1900.00 marks.
For today, the anticipateThe gold price has stabilized at the $1873.50 mark following a pronounced downturn experienced the previous day. It's anticipated that should this level be breached, we could see further downward momentum targeting the $1860.00 mark, followed by the $1845.00 threshold.
Given this context, a bearish trajectory is projected for the near term. However, it's pivotal to note that any inability to move below the $1873.50 level could curtail this decline, potentially initiating a bullish adjustment with objectives set at the $1890.00 and subsequently the $1900.00 marks.
For today, the anticipated trading range is delineated between a support at $1855.00 and a resistance at $1890.00.d trading range is delineated between a support at $1855.00 and a resistance at $1890.00.
GOLD (XAU/USD) - Trade Idea
Entry Price – Buy Above 1872
Take Profit – 1893
Stop Loss – 1862
Risk to Reward – 1: 2
Profit & Loss Per Standard Lot = +$1200/ -$1000
Profit & Loss Per Micro Lot = +$120/ -$100
USD/JPY Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The USD/JPY pair is on an ascending path, nearing the 150.00 target, bolstered consistently by the EMA50.
- Potential breaches of this target might escalate bullish momentum towards 151.00 and then 151.85 levels.
- The day's anticipated trading spectrum is bracketed by a 148.70 support and a 150.20 resistance.
The USD/JPY pair has sustained its upward trajectory, approaching our newly-set target of 150.00. This momentum is consistently underpinned by the EMA50, amplifying the prospects of an enduring bullish stance in both intraday and short-term contexts. It's worth noting that breaching the aforementioned level could further propel the bullish momentum, targeting successive key levels at 151.00 and subsequently 151.85.
Entry Price – Buy Limit 149.128
Take Profit – 150.179
Stop Loss – 148.692
Risk to Reward – 1: 2.4
Profit & Loss Per Standard Lot = +$1051/ -$436
Profit & Loss Per Micro Lot = +$105/ -$43
Our forecast remains bullish for the forthcoming sessions, contingent upon the pair not descending and sustaining below the 148.40 mark.
Today's projected trading boundaries are delineated between a support at 148.70 and a resistance at 150.20.
USD/JPY - Trade Idea
Entry Price – Buy Limit 149.128
Take Profit – 150.179
Stop Loss – 148.692
Risk to Reward – 1: 2.4
Profit & Loss Per Standard Lot = +$1051/ -$436
Profit & Loss Per Micro Lot = +$105/ -$43
GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold's price has notably dropped below the $1913.15 level, moving towards the $1900.00 mark, hinting at a strengthened short-term bearish perspective with targets set at $1890.00 and potentially further down to $1875.00.
- The EMA50 underlines a downward trajectory, suggesting an extended decline in upcoming sessions.
- Today's trading range is expected between support at $1880.00 and resistance at $1913.00, with the dominant trend leaning bearish.
The price of gold decisively surpassed the $1913.15 mark, stabilizing below it, and has now approached the $1900.00 threshold. This strengthens the interim bearish outlook, setting sights on potential descents to $1890.00, followed by a further decline to the $1875.00 mark.
Given this trajectory, we anticipate a continued decline in the forthcoming sessions, bolstered by the downward momentum exhibited by the EMA50. It's pivotal to highlight that any breach of the $1913.15 level would negate this bearish perspective, prompting the gold price to initiate intraday recovery maneuvers.
For today, the projected trading span is set between a support of $1880.00 and a resistance at $1913.00. The prevailing trend for the day is anticipated to be bearish.
GOLD (XAU/USD) - Trade Idea
Entry Price – Sell Below 1902
Take Profit – 1890
Stop Loss – 1910
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$1200/ -$800
Profit & Loss Per Micro Lot = +$120/ -$80
USD/JPY Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The USD/JPY is poised around 149.00, with the stochastic indicator hinting at potential bullish momentum; the next bullish target is identified at 150.00.
- Supported by the EMA50's consistent positive trajectory, the bullish outlook will hold, provided the price remains above 148.25.
- Today's expected trading boundaries lie between supports at 148.30 and resistances at 149.80, reflecting a dominant bullish sentiment.
The USD/JPY pair currently hovers near the 149.00 mark, with the stochastic indicator showing emerging positive convergence, suggesting potential upward momentum in the coming sessions. Our subsequent target for this bullish trend is set at 150.00.
The ongoing bullish inclination is bolstered by the EMA50's persistent positive influence. This bullish perspective is contingent upon the price maintaining its stance above 148.25.
For today, the anticipated trading parameters are anchored between a support at 148.30 and a resistance at 149.80, with the predominant market sentiment leaning bullish.
USD/JPY - Trade Idea
Entry Price – Buy Above 148.875
Take Profit – 149.567
Stop Loss – 148.431
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$692/ -$444
Profit & Loss Per Micro Lot = +$69/ -$44
EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- The EUR/USD pair is exhibiting a pronounced bearish momentum, inching closer to the anticipated 1.0515 target and potentially declining further to the 1.0440 mark.
- The bearish trend is evident within the chart's channel and is reinforced by the EMA50's negative pressure, making a case for continued bearishness in the coming sessions.
- Retention below the 1.0635 level is critical for achieving these bearish targets, with today's forecasted trading range set between 1.0470 (support) and 1.0620 (resistance).
The EUR/USD pair demonstrates an enhanced bearish tendency, progressively nearing our anticipated target of 1.0515. We project the persistence of this negative trajectory, aiming for further declines towards the 1.0440 zone.
Within the context of the bearish channel depicted on the chart, and backed by the downward pressure from the EMA50, the bearish outlook remains pertinent for the foreseeable future.
It's crucial to underscore that maintaining levels below 1.0635 is a primary prerequisite to realize these targets. Today's projected trading band spans from a support at 1.0470 to a resistance at 1.0620, with the prevailing sentiment being bearish.
EUR/USD - Trade Idea
Entry Price – Sell Below 1.05736
Take Profit – 1.05182
Stop Loss – 1.06115
Risk to Reward – 1: 1.4
Profit & Loss Per Standard Lot = +$554/ -$379
Profit & Loss Per Micro Lot = +$55/ -$37
GOLD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Gold price nears critical support at $1913.15, facing downward pressure influenced by the EMA50.
- Uncertainty around the $1913.15 mark suggests potential movements towards $1890.00 or an upward swing to $1945.20.
- Today's trading range is forecasted between $1900.00 (support) and $1930.00 (resistance).
The gold price exhibited a discernible downward trajectory yesterday, closely approaching the pivotal support level at $1913.15. Influenced by the negative pressure from the EMA50, there are emerging indications suggesting potential further depreciation should it breach this support.
Given the uncertainty, a wait-and-see approach is recommended until there's a clearer stance regarding the $1913.15 benchmark. A breach could intensify the bearish momentum, potentially steering the price towards targets of $1890.00 and subsequently, $1875.00. Conversely, if it sustains above this level, a resurgence targeting $1945.20 in the short term might be anticipated.
For today, the expected trading range is between support at $1900.00 and resistance at $1930.00.
GOLD (XAU/USD) - Trade Idea
Entry Price – Sell Below 1915
Take Profit – 1905
Stop Loss – 1920
Risk to Reward – 1: 2
Profit & Loss Per Standard Lot = +$1000/ -$500
Profit & Loss Per Micro Lot = +$100/ -$50