Daily Price Outlook

The EUR/USD forex pair has been showing interesting movements lately. On close inspection around the 1.0600 level, we observe a mild bearish inclination. This, however, doesn't overshadow the optimism brought about by the stochastic indicator's positive momentum. This momentum suggests there is potential for a bullish trend throughout the day, particularly targeting the 1.0675 region.

But every coin has two sides. While the future seems to hint at a bullish dominance, particularly if the pair successfully surpasses the 1.0600 mark, there are also challenges ahead. If the pair were to dip below 1.0550, this would likely spell an end to any bullish hopes, sending the pair down a more bearish path. For today, traders might expect the currency pair to oscillate between the 1.0520 support and 1.0660 resistance.

Diving deeper into the technical side of things, the pivot point stands at 1.0572 on a 4-hour chart. On the higher side, we have immediate resistances poised at 1.0658, followed by 1.0739 and then at 1.0907. On the flip side, supports are situated at 1.0488, trailing down to 1.0405 and further to 1.0238.

From an indicator's standpoint, the RSI, currently at 45, offers a neutral yet slightly bearish sentiment. It’s teetering in the middle, neither signaling an overbought nor an oversold condition. Another critical metric to monitor is the 50-Day Exponential Moving Average, which currently hovers around 1.06082. This figure could act as a litmus test for the market’s short-term direction.

Furthermore, the charts illustrate a downward trendline. This trendline exerts resistance, notably at the crucial 1.0600 juncture. The importance of this pattern cannot be stressed enough; a break here could catalyze a significant shift in momentum.

Conclusively, the fate of the EUR/USD in the short term appears to be hinged on the 1.0600 threshold. The sentiment is bearish beneath this level and bullish above it. Given the present technical indicators, it wouldn't be a stretch to anticipate the currency pair approaching the 1.0658 resistance soon, provided the bullish momentum sustains.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.05720

Take Profit – 1.04878

Stop Loss – 1.06243

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$842/ -$523

Profit & Loss Per Micro Lot = +$84/ -$52

Daily Price Outlook

On a 4-hour chart timeframe, Gold currently navigates crucial price levels with a pivot point set at $1,874. Looking at the immediate resistances, the first is situated at $1902, followed by higher resistances at $1955 and $2035. Conversely, for support levels, an immediate support is observed at $1820 with subsequent supports placed at $1793 and the more distant one at $1712.

The technical indicators shed further light on the asset's current stance. The Relative Strength Index (RSI) presents a value of 18. Such a low RSI suggests the asset is in an oversold condition, typically interpreted as a bearish sentiment. However, caution must be exercised as oversold conditions can occasionally precede a price rebound.

Another significant technical pointer is the 50-Day Exponential Moving Average (EMA). With a current value standing at $1889 and the price of Gold trading below this, it hints at a short-term bearish trend for the asset.

Turning to chart patterns, Gold's chart reveals the formation of Lower Lows. Additionally, the presence of the Three Black Crows candlestick pattern emphasizes a strong selling bias. Historically, these patterns are strong bearish indicators, suggesting that there might be further declines in the near term.

No fundamental news has been provided as part of this outlook. In conclusion, Gold's trend appears bearish, especially if it sustains below the $1858 mark. However, if it manages to breach this level, the outlook might tilt towards the bullish side. For the short term, given the prevailing bearish indications, it wouldn't be surprising to see Gold test the immediate support level at $1820 in the coming days. 

GOLD(XAU/USD) - Trade Idea

Entry Price – Sell Below 1855

Take Profit – 1827

Stop Loss – 1883

Risk to Reward – 1: 7

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

Profit & Loss Per Micro Lot = +$280/ -$280

Daily Price Outlook

The GBP/USD currency pair has recently shown some interesting behavior. Having reached the previously anticipated target of 1.2280, the pair displayed a bearish rebound from this level. This move hints at a potential return to its primary bearish trajectory, reinforced by the bearish channel visible on the chart. With this, there's an anticipation of the pair heading toward the 1.2110 mark, establishing it as the next key bearish target.

Given this backdrop, the forecast for today leans bearish. This outlook is further supported by the negative influence exerted by the 50-Day Exponential Moving Average (EMA50). However, it's important to note a key resistance level at 1.2280. Should the GBP/USD break above this point, it could potentially steer the currency pair towards a bullish correction, with the next target set at 1.2350. For the day, the trading range is predicted to lie between the 1.2100 support and the 1.2250 resistance.

Zooming in on the technical indicators:

RSI (Relative Strength Index): Currently standing at 46, the RSI provides a neutral-to-bearish sentiment. Typically, an RSI value above 70 denotes overbought conditions, whereas anything below 30 indicates oversold conditions. In its current state, being below 50, the RSI slightly leans towards a bearish sentiment.

In conclusion, the GBP/USD's trajectory for today is expected to be predominantly bearish, given the current technical indicators and recent price actions. Traders should, however, remain vigilant around the 1.2280 resistance level, as any breach could modify the short-term outlook.

GBP/USD - Trade Idea

Entry Price – Sell Below 1.21981

Take Profit – 1.21036

Stop Loss – 1.22868

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$945/ -$887

Profit & Loss Per Micro Lot = +$94/ -$88

Daily Price Outlook

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

Daily Price Outlook

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

Daily Price Outlook

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

Daily Price Outlook

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

Daily Price Outlook

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

Daily Price Outlook

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

Daily Price Outlook

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