Daily Price Outlook

• Gold experienced a sharp decline on Monday, trading near the $1943 level.
• The double bottom support level at $1953 has been broken, now acting as a significant resistance for gold prices.
• The 50-day exponential moving average is also acting as resistance around $1953, indicating a potential continuation of the downward trend, with potential support around $1932.

On Monday, the price of gold witnessed a sharp decline, trading around the $1943 level. On the four-hour timeframe, gold broke below the double bottom support level at $1953, which is now expected to act as a significant resistance for gold prices.

The 50-day exponential moving average is also acting as resistance around the $1953 level, further indicating a potential continuation of the downward trend, with potential support around the $1932 level.

The 50-day exponential moving average suggests selling pressure, while the RSI and MACD indicators are in oversold territory. Therefore, the $1953 level is likely to be a pivot point for gold prices today, with investors potentially considering selling opportunities at this level.

Alternatively, if gold breaks above the $1953 level, the next resistance levels to watch for are around $1960 or $1975.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Sell Limit 1950

Stop Loss – 1965

Take Profit – 1932

Risk to Reward – 1 : 1

Profit & Loss Per Standard Lot = +$1711/ -$1586

Profit & Loss Per Micro Lot = +$171/ -$158

Daily Price Outlook

• The S&P 500 index is displaying a strong bullish bias around the 4282 level.
• The RSI and MACD indicators on the four-hour timeframe indicate a possible exhaustion of buyers.
• Resistance is observed around the 4300 level, with potential support at 4240 and further support at 4200 if the market experiences a correction.

On Monday, the S&P 500 stock market index is exhibiting a strong bullish bias, trading around the 4282 level. Our previous price prediction for the SPX has been in line with our forecast as it has reached our target.

Analyzing the four-hour timeframe, we observe that the RSI and MACD indicators have entered the overbought zone, suggesting a potential exhaustion of buyers and a possibility of sellers taking control for a correction in the market.

Currently, the SPX is facing resistance around the 4300 level, and a break below this level could lead to a decline towards the support level at 4240. However, if the SPX manages to stay above 4240, it may resume its bullish momentum.

On the other hand, a drop below 4240 could lead to further support at 4200, while a breakout above 4300 could set a target around 4348.

SPX Price Chart – Source: Tradingview

SPX S&P500 – Trade Idea

Entry Price – Buy Limit 4241.45

Stop Loss – 4192.62

Take Profit – 4347.82

Risk to Reward – 1 : 2.18

Profit & Loss Per Standard Lot = +$1063/ -$488

Profit & Loss Per Micro Lot = +$106/ -$48

Daily Price Outlook

• Bitcoin finds significant support at $26,750, reinforced by a triple bottom pattern
• RSI and MACD indicators signal bullish conditions
• Potential for a bullish breakout above $26,750, targeting resistance levels at $26,950 and $27,650

Bitcoin is currently finding significant support around the $26,750 level, which is reinforced by a triple bottom pattern, indicating a potential bullish reversal. The hourly timeframe also shows a trend line providing support at this level, adding to the likelihood of an upward move.

The RSI and MACD indicators are both signaling bullish conditions, further supporting the case for a potential reversal. Additionally, the resistance level around $27,350 is pushing Bitcoin’s price higher.

Despite the current bearish trend, there is potential for a bullish breakout above the $26,750 level. If this breakout occurs, the next resistance levels to watch for are around $26,950 and $27,650.

A breakout above the $27,350 level could propel Bitcoin towards $27,650 and potentially higher, reaching levels around $27,900 or $28,000.

Key levels to monitor for today include the $27,000 support level, as a break below could indicate a continuation of the bearish trend. Conversely, if Bitcoin breaks above the $26,750 level, the next trend could be bearish once again.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Sell Limit 27004

Stop Loss – 27471

Take Profit – 26489

Risk to Reward – 1 : 1

Profit & Loss Per Standard Lot = +$515/ -$467

Profit & Loss Per Micro Lot = +$51/ -$46

Daily Price Outlook

• Gold price has experienced volatility, bouncing off the triple bottom support and breaking through the $1,970 resistance level.
• Immediate resistance is expected around $1,985, with potential targets at $1,990 and $2,000.
• Technical indicators are favoring a bullish outlook, with support from the 50-day exponential moving average.

The price of the precious metal gold is currently experiencing some volatility after bouncing off the triple bottom support level around $1,954. It has now broken through the $1,970 resistance level and is currently holding around $1,987. In terms of immediate resistance, it is likely to be encountered around the $1,985 level, with the potential to reach the next target levels of $1,990 or $2,000.

Looking at the leading and lagging technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), all indicators are holding within a favorable zone. The 50-day exponential moving average is also providing significant support around the $1,970 level, further favoring the bullish outlook for gold.

However, it is important to monitor the key resistance level around $1,995, as a failure to break through this level could trigger a reversal and potentially lead to a bearish trend towards the $1,975 or $1,970 level.

On the other hand, if the triple top resistance level at $1,985 is violated, it has the potential to further propel the gold price towards the $2,000 level. It is important to note that market participants should closely monitor the upcoming US nonfarm payroll data and unemployment rate, as it could have a significant impact on price action.

GOLD Price Chart – Source: Tradingview

GOLD (XAU/USD) Trade Idea

Entry Price – Buy Above 1975

Stop Loss – 1962

Take Profit – 2000

Risk to Reward – 1 : 1.92

Profit & Loss Per Standard Lot = +$2500/ -$1300

Profit & Loss Per Micro Lot = +$250/ -$130

Daily Price Outlook

• AUD/USD has shown a bullish run, breaking above the 0.6585 resistance level.
• A bullish engulfing candlestick pattern suggests strong momentum and bullish sentiment.
• Target levels for further upward movement are 0.6640 and 0.6675.

The AUD/USD currency pair has experienced a bullish run, breaking above the key resistance level at 0.6585. On the four-hour timeframe, a bullish engulfing candlestick pattern has formed, indicating strong upward momentum and bullish sentiment towards the AUD/USD price.

Currently, it is trading around the 0.6612 level, with a high likelihood of continued upward movement towards the 0.6640 or 0.6675 levels. On the downside, immediate support is expected around the 0.6585 level, followed by potential support at 0.6550 or 0.6500 levels.

The 50-day exponential moving average, relative strength index (RSI), and moving average convergence divergence (MACD) indicators all suggest a balanced outlook for the currency pair. Therefore, it is important to monitor the 0.6585 level, as a successful break above it could lead to further upward momentum.

Additionally, keep an eye on the upcoming US unemployment figures, particularly the nonfarm payrolls (NFP) and unemployment rate, as they have the potential to influence additional price movements.

AUD/USD Price Chart – Source: Tradingview

AUD/USD – Trade Idea

Entry Price – Buy Above 0.65986

Stop Loss – 0.65452

Take Profit – 0.66726

Risk to Reward – 1 : 1.92

Profit & Loss Per Standard Lot = +$740/ -$534

Profit & Loss Per Micro Lot = +$74/ -$53

Daily Price Outlook

• Bitcoin exhibited bullish momentum after rebounding from the 26,620 level.
• The formation of hammer candlesticks near 26,620 suggests a weakening bearish sentiment.
• Resistance is expected around the 27,275 level, with technical indicators indicating continued upward momentum.

On Friday, during the Asian session, the leading cryptocurrency Bitcoin exhibited bullish momentum after rebounding from the 26,620 level. This aligns with our previous price prediction, as we anticipated this price action in our recent Bitcoin forecast.

The 2-hour timeframe shows the formation of hammer candlesticks near the 26,620 level, indicating a weakening bearish sentiment and a possible buying opportunity for Bitcoin.

On the upside, Bitcoin is expected to encounter resistance near the 27,275 level, which coincides with the 61.8% Fibonacci retracement level that previously acted as support. This level is likely to serve as a barrier for further upward movement.

Additionally, key technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have crossed into the buying zone, indicating a high probability of continued upward momentum, especially on the lower timeframe.

It’s important to note that there is a downward trend line on the daily timeframe that could potentially limit Bitcoin’s rise around the 27,275 level. A decisive break above this trend line could lead to a further increase towards the 27,499 level and potentially reach $28,000 as the next significant target.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Buy Above 26600

Stop Loss – 26200

Take Profit – 27500

Risk to Reward – 1 : 2.25

Profit & Loss Per Standard Lot = +$900/ -$400

Profit & Loss Per Micro Lot = +$90/ -$40

Daily Price Outlook

• The S&P 500 is experiencing a slight bearish sentiment around the 4,180 level after failing to break through 4,215 resistance.
• A doji candlestick pattern on the four-hour timeframe suggests a weakening bullish trend and increasing influence of sellers.
• Potential support is seen around the 4,150 level, confirmed by a trend line on the four-hour timeframe.

The S&P 500 index is currently trading with a slight bearish sentiment around the 4,180 level after failing to break through the 4,215 resistance level.

On the four-hour timeframe, the SPX has formed a single doji candlestick pattern, indicating a weakening bullish trend and the increasing influence of sellers.

On the upside, there is potential support around the 4,150 level, which is also confirmed by a trend line visible on the four-hour timeframe.

Today’s strategy involves monitoring the 4,150 level and considering selling positions if the price approaches this level.

SPX Price Chart – Source: Tradingview

SPX S&P500 – Trade Idea

Entry Price – Buy Above 4150.17

Stop Loss – 4103.49

Take Profit – 4262.69

Risk to Reward – 1 : 2.4

Profit & Loss Per Standard Lot = +$1125/ -$466

Profit & Loss Per Micro Lot = +$112/ -$46

Daily Price Outlook

• Gold is showing slight bullish sentiment around the $1,962 level after failing to break through $1,970 resistance.
• A reversal from the $1,975 level indicates weakening bullish bias and potential dominance by sellers.
• Immediate support is around $1,956, with further targets at $1,950, $1,940, or $1,936. Breaking above $1,970 may lead to targets around $1,985 or $1,995.

The price of the precious metal gold is currently showing slight bullish sentiment around the $1,962 level after failing to break through the resistance at $1,970. While it briefly reached the $1,975 level on the four-hour timeframe, it reversed and fell below $1,970, settling around $1,965.

This indicates a weakening bullish bias and the potential for sellers to gain dominance, leading to a decline in the price of gold.

On the downside, gold has immediate support around $1,956, and a break below this level could push the price towards $1,950. Further bearish movement may expose the next support levels at $1,940 or $1,936.

Conversely, if gold manages to break above the $1,970 level and close above it, the next target levels could be around $1,985 or $1,995.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below 1965

Stop Loss – 1980

Take Profit – 1944

Risk to Reward – 1 : 1.40

Profit & Loss Per Standard Lot = +$2100/ -$1500

Profit & Loss Per Micro Lot = +$210/ -$150

Daily Price Outlook

• Bitcoin is currently trading around the 26,850 level, displaying slightly bearish behavior.
• The 78.6% Fibonacci retracement level has been reached, with the next support at 26,650.
• Breaking above the 26,600 level could trigger a bullish reversal, while a break below it may lead to a target of around 26,000.

The price of Bitcoin is exhibiting slightly bearish behavior, trading around the 26,850 level. On the four-hour timeframe, Bitcoin has already reached the 78.6% Fibonacci retracement level and has fallen towards the next support level at 26,650.

This level holds significance as discussed in our previous update, as breaking above it could trigger a bullish reversal in Bitcoin’s price. The formation of a bearish engulfing candlestick below the 50-day exponential moving average indicates dominance by the bears in the market.

However, as long as the price remains above the 26,600 level, there is potential for a reversal and a move towards the resistance levels at 27,300, 27,500, or even 28,000. On the downside, if BTC breaks below 26,600, the next target could be around 26,000.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Buy Above 26600

Stop Loss – 26200

Take Profit – 27500

Risk to Reward – 1 : 2.25

Profit & Loss Per Standard Lot = +$900/ -$400

Profit & Loss Per Micro Lot = +$90/ -$40

Daily Price Outlook

• Bitcoin faces selling pressure after breaking $27,500 and the 50% Fibonacci, signaling a bearish trend.
• It has reached the 61.8% Fibonacci at $27,250 and approaches support at $26,950.
• A breakout above $27,950 could target support at $26,500, triggering a bullish upswing. Resistance levels are at $27,300 and $27,500. Monitor $27,500 and watch for rebounds near $26,500.

Bitcoin is currently encountering considerable selling pressure following its breach below the crucial $27,500 level, which acted as a robust support for the cryptocurrency. The four-hour chart reveals a breach not only of the 50% Fibonacci retracement level but also of the Alpha train line, amplifying the bearish sentiment.

A bearish engulfing candlestick pattern further confirms the prevailing downward trend. Bitcoin has already descended to the 61.8% Fibonacci retracement level at $27,250 and appears to be gravitating towards the next significant support at the 78.6% Fibonacci level, approximately $26,950.

A successful breakthrough above the $27,950 level has the potential to propel Bitcoin's price towards the subsequent support zone at $26,500. This level has proven its reliability as a support multiple times in the past, exemplified by its role on the 14th, 17th, 18th, 22nd, and most recently on the 27th. Consequently, it holds substantial significance.

A decisive close above the critical threshold of $26,500 is likely to ignite a bullish upswing for Bitcoin's price. On the upside, we anticipate the reestablishment of the previously violated resistance level around $27,300, followed by the subsequent resistance at $27,500. Moreover, if the upward momentum persists, Bitcoin could potentially challenge the next resistance level at $28,000.

To conclude, diligent monitoring of the $27,500 level is crucial as it serves as a pivotal support zone, while also remaining vigilant for potential rebound opportunities in the vicinity of the $26,500 level for Bitcoin. BTC/USD Price Chart – Source: Tradingview

BTC/USD - Trade Idea

Entry Price – Sell Below 27250

Stop Loss – 27800

Take Profit – 26500

Risk to Reward – 1 : 1.35

Profit & Loss Per Standard Lot = +$750/ -$550

Profit & Loss Per Micro Lot = +$75/ -$55