Daily Price Outlook

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

Daily Price Outlook

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

Daily Price Outlook

The USD/JPY currency pair is persistently advancing, currently nearing our anticipated target of 149.00. We foresee this bullish momentum extending beyond this level, potentially aiming for the significant milestone at 150.00.

Underpinned by the EMA50's support, our bullish outlook remains intact for the foreseeable future. It's essential to emphasize that sustaining this upward trajectory necessitates the pair remaining above the 147.90 mark.

Today's projected trading boundaries lie between a support at 148.30 and a resistance at 149.80, with an overall bullish sentiment prevailing.

USD/JPY - Trade Idea 

Entry Price – Buy Limit 148.779

Take Profit – 149.561

Stop Loss – 148.352

Risk to Reward – 1: 8

Profit & Loss Per Standard Lot = +$782/ -$427

Profit & Loss Per Micro Lot = +$78/ -$42

Daily Price Outlook

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

Daily Price Outlook

The AUD/USD currency pair currently hovers around the crucial 0.6400 support level, consistently maintaining above this threshold. Notably, the stochastic indicates pronounced positive momentum, enhancing the likelihood of a continued upward trajectory aiming for our primary anticipated target of 0.6545.

Given this backdrop, we remain optimistic about a bullish trend in the near future. However, it's imperative to note that any breach below the 0.6400 mark could curtail the anticipated ascent, pivoting the currency pair into a decline.

Today's forecasted trading range is anchored between support at 0.6380 and resistance at 0.6480.

AUD/USD - Trade Idea 

Entry Price – Sell Below 0.64191

Take Profit – 0.63820

Stop Loss – 0.64463

Risk to Reward – 1: 3

Profit & Loss Per Standard Lot = +$371/ -$272

Profit & Loss Per Micro Lot = +$37/ -$27

Daily Price Outlook

The gold price has encountered resistance at the $1929 mark, exhibiting a minor bearish inclination. This trend is influenced by the stochastic indicator, which is gradually shedding its negative momentum. The market awaits a positive catalyst that could propel the price beyond the aforementioned level, aiming for a subsequent target at $1945.20.

For the time being, our outlook remains optimistic unless there's a breach below the $1913.15 threshold and sustained trading beneath it. Penetrating this level could be detrimental, potentially leading the price to further declines targeting $1875.00 in the near term.

Today's anticipated trading bracket is set between a support at $1910.00 and a resistance at $1940.00.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Sell Below 1925

Take Profit – 1914

Stop Loss – 1930

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1096/ -$500

Profit & Loss Per Micro Lot = +$109/ -$50

Daily Price Outlook

The GBP/USD pair exhibits an intensified bearish momentum, methodically nearing our anticipated target of 1.2200. We anticipate this downward trajectory to persist, with subsequent objectives set around the 1.2135 mark.

The EMA50 consistently underpins the projected bearish trend, which unfolds systematically within the bearish channel depicted on the chart. It's imperative to note that surpassing 1.2310 would negate this bearish outlook, prompting the pair to undergo an intraday bullish realignment.

For today, the projected trading parameters are established between a support at 1.2150 and a resistance at 1.2300.

GBP/USD - Trade Idea 

Entry Price – Sell Below 1.22581

Take Profit – 1.21951

Stop Loss – 1.22876

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$630/ -$295

Profit & Loss Per Micro Lot = +$63/ -$29

Daily Price Outlook

The EUR/USD pair is currently hovering around the pivotal support level of 1.0635. We anticipate a breach of this level to validate the continuation of its bearish trajectory, with an ensuing target at 1.0515.

The Stochastic oscillator is generating bearish indications, enhancing the likelihood of the anticipated decline. This is further reinforced by the downward pressure exerted by the EMA50.

However, a surge beyond 1.0680 would negate this bearish perspective and might prompt the pair to undertake recovery efforts, aiming for the 1.0785 region before any subsequent downturn. Today's projected trading range is delineated between the support at 1.0560 and the resistance at 1.0700. (edited)

EUR/USD - Trade Idea 

Entry Price – Sell Below 1.06711

Take Profit – 1.05694

Stop Loss – 1.07205

Risk to Reward – 1: 4

Profit & Loss Per Standard Lot = +$951/ -$56

Profit & Loss Per Micro Lot = +$101/ -$56

Daily Price Outlook

The prominent stock market index, the S&P 500, is displaying a pronounced bearish trend, declining by nearly 3% to stand at $4,336. This level serves as a pivotal support, underscored by a double bottom pattern at the same mark.

On the daily chart, the SPX has manifested two significant bearish engulfing candles, indicating a dominant bearish sentiment. Should the SPX breach the $4,336 threshold, it is poised to encounter subsequent support levels at $4,295 and possibly $4,261.

Conversely, the resistance is anchored at $4,377. A surge above this level could pave the way for the SPX to approach $4,440.

S&P500 (SPX) - Trade Idea 

Entry Price – Buy Above 4326

Take Profit – 4397

Stop Loss – 4296

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$710/ -$300

Profit & Loss Per Micro Lot = +$71/ -$30

Daily Price Outlook

Following a significant downturn, the price of gold narrowly missed our anticipated target at $1,913.15 yesterday. However, a subsequent robust rebound was observed, indicating the initiation of a potential bullish trajectory. Our primary projection for this upward momentum is a retest of the $1,929.00 level. A breach of this threshold could further elevate the price to our next major target of $1,945.20.

Given the current data, we anticipate a bullish trend for today, a sentiment reinforced by the present positivity of the stochastic indicator. It's crucial to note that any decline below the $1,913.15 mark would nullify the projected ascent and potentially usher in more immediate losses. For today, we forecast a trading range with support at $1,910.00 and resistance at $1,940.00.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Buy Stop 1927

Take Profit – 1936

Stop Loss – 1920

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$900/ -$700

Profit & Loss Per Micro Lot = +$90/ -$70