Daily Price Outlook

• Ripple completes a 61.8% Fibonacci retracement near the $0.470 level, encountering strong resistance at $0.5426 and resulting in a significant decline.
• If a bullish reversal occurs, the cryptocurrency pair could aim for resistance levels at $0.4873 and $0.5051.
• Approach long positions cautiously above $0.5053 and short positions below $0.4700, as the breakout from this range will determine future price movement.

In terms of technical analysis, Ripple has recently completed a 61.8% Fibonacci retracement around the $0.470 level. The price faced strong resistance at $0.5426 on multiple occasions, leading to a notable decline.

However, there are signs of a potential bullish reversal as a bullish candlestick pattern formed near the 61.8% Fibonacci retracement level, indicating a potential increase in buying pressure.

If a bullish reversal occurs, the cryptocurrency pair could target the next resistance levels at $0.4873 and $0.5051. It’s important to note that other technical indicators on the daily timeframe show mixed signals.

The 50-day exponential moving average acts as significant resistance around the $0.5044 level, while the relative strength index (RSI) and moving average convergence divergence (MACD) are currently in a neutral zone.

Considering these factors, it is advisable to approach long positions cautiously above the $0.5053 level and short positions below the $0.4700 level. The breakout from this range will likely determine the future price movement, which will be discussed further in the upcoming forecast.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Trade Idea

Entry Price – Buy Above 0.46967

Stop Loss – 0.5292

Take Profit – 0.4339

Risk to Reward – 1: 1.65

Profit & Loss Per Standard Lot = +$59/ -$35

Daily Price Outlook

Gold prices have successfully hit our initial target at $1,945.20 and are currently holding steady at that level. We are waiting for a break below this level to confirm the continuation of the downward correction towards our next target at $1,913.15.

The bearish trend remains in focus, especially as the price is currently trading below the EMA50.

While there might be some temporary sideways movement due to Stochastic positivity, we anticipate the resumption of the expected negative trades.

It’s worth noting that if the price manages to break above $1,955.00, we might see a short-term rise towards testing the key resistance level at $1,977.25, but this would be followed by another attempt to decline.

For today, we expect the trading range to be between support at $1,930.00 and resistance at $1,965.00.

Let’s see if gold can break through and continue its bearish dance towards our next target!

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price –1958

Take Profit – 1940

Stop Loss – 1970

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Micro Lot = +$180/ -$120

Daily Price Outlook

• Ethereum faces a critical challenge as it completes a 50% Fibonacci retracement at $1760, with a triple-top pattern forming as a major hurdle.
• Mixed signals emerge for Ethereum with the presence of doji and spinning top candles, reflecting investor uncertainty and cautious sentiment.
• Technical indicators such as RSI and MACD remain bearish, indicating the potential for further downside movement in Ethereum’s price.-

On the 24-hour dancefloor, Ethereum has reached a make-or-break moment, completing a groovy 50% Fibonacci retracement around the $1760 zone. This level has transformed into a formidable triple-top pattern, becoming a major hurdle for Ethereum’s upward groove.

The arrival of an inverted hammer candlestick at $1760 adds a bearish twist, signaling a weakening of buying pressure and the potential rise of dominant sellers.

Amidst the dancefloor, Ethereum is showing off some mixed moves with the appearance of doji and spinning top candles. These funky patterns reflect investor indecision and uncertainty, as both the bulls and the bears battle it out for control.

This cautionary vibe adds to the groovy sentiment surrounding Ethereum’s price sway. When it comes to the technical groove, Ethereum is likely to sway further downward, especially if it struggles to break convincingly above the $1760 level.

The next spot for potential support can be found around $1690, where eager buyers might bust out their moves to stabilize the price and regain control.

In a nutshell, keep your eyes locked on the $1767 level, as it holds the power to dictate Ethereum’s next moves on the dancefloor.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Entry Price –– Sell Stop 1700

Stop Loss – 1750

Take Profit – 1660

Risk to Reward – 1 : 0.8

Profit & Loss Per Standard Lot = +$400/ -$500

Profit & Loss Per Micro Lot = +$40/ -$50

Daily Price Outlook

• Bitcoin grooves at $26,447, with a 0.47% decline and a lively trading volume of $9.4 billion.
• The BTC/USD pair showcases a sensational move, completing a 50% Fibonacci retracement at 26,600, with a whimsical tweezer top pattern hinting at a potential price drop.
• The dance floor intensifies as the 50-day exponential moving average and a sassy downward trend line join forces to fortify the resistance at 26,600 for Bitcoin’s performance.

Bitcoin takes the stage at $26,447, delivering a smooth 0.47% decline in the past 24 hours. The beats are alive with a trading volume of $9.4 billion, showcasing an energetic market groove.

Holding its crown as the top cryptocurrency, Bitcoin shines with a lively market capitalization of $513,244,474,171 USD. With 19,406,312 coins swaying in circulation and a maximum supply of 21,000,000 BTC coins, Bitcoin’s dance continues in the cryptocurrency market.

The BTC/USD pair recently hit the dance floor, completing a 50% Fibonacci retracement at the sensational level of 26,600.

A whimsical tweezer top pattern emerges on the daily timeframe, signaling a possible shift in the bullish vibes and hinting at the potential for a price drop if it stays below the resistance at 26,600.

As we dive deeper into the daily timeframe, the beats get stronger. The 50-day exponential moving average and a sassy downward trend line team up to fortify the dance floor at 26,600.

These dynamic duos create a choreographed routine of significant obstacles for Bitcoin at this electrifying level.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price –– Buy Above 26250

Stop Loss – 25660

Take Profit – 27375

Risk to Reward – 1 : 1.90

Profit & Loss Per Standard Lot = +$1120/ -$590

Profit & Loss Per Micro Lot = +$112/ -$59

Daily Price Outlook

• Gold prices have resumed their downward trend, currently hovering near the EMA50 and expecting further declines towards $1,945.20.
• Breaking $1,977.25 could reverse the bearish trend and pave the way for a potential recovery towards the main bullish trend.
• For today's trading, support is expected around $1,935.00, while resistance is projected at $1,970.00.

Gold prices have returned to their downward trajectory after a temporary uptick in recent sessions. The market is now hovering around the EMA50, anticipating further declines with an initial test of $1,945.20.

It's worth noting that a breakthrough at this level would pave the way for a visit to the next correctional level at $1,913.15.

The current positivity in the Stochastic indicator explains the current sideways movement, awaiting a shift to negative momentum that would support the resumption of the expected bearish wave.

However, if the price manages to breach $1,977.25, it would halt the correctional bearish trend and potentially set the stage for a recovery towards the main bullish trend.

In terms of today's expected trading range, support is anticipated around $1,935.00, while resistance is projected at $1,970.00.

GOLD Price Chart – Source: Tradingview

GOLD (XAU/USD) Trade Idea

Entry Price –– Sell Below 1958

Stop Loss – 1970

Take Profit – 1940

Risk to Reward – 1 : 1.5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Micro Lot = +$180/ -$120

Daily Price Outlook

• Bitcoin ($BTC) consolidating after failing to break resistance at $25,600
• Support level at $24,750 formed a bullish hammer candlestick, indicating possible reversal
• Monitoring $25,600 level crucial; RSI and MACD showing mixed signals

On the technical front, the cryptocurrency Bitcoin ($BTC) is currently showing a minor consolidation after failing to break above the resistance level at $25,600. Observing the four-hour timeframe, Bitcoin tested the support level at $24,750 and formed a bullish hammer candlestick, suggesting a possible reversal in the market.

The subsequent candlestick closed above the support level at $24,750, indicating potential bullish momentum.

It is worth noting that Bitcoin has already completed a 38.2% Fibonacci retracement around the $25,600 level. The inability to surpass this level may limit further upward movement.

Additionally, the $25,600 level previously acted as a triple bottom support on June 5, June 6, and June 10, which could provide resistance to Bitcoin’s price.

Monitoring the key level of $25,600 is crucial. As long as Bitcoin remains above this level, the bullish sentiment may continue. However, the relative strength index (RSI) and moving average convergence divergence (MACD) are showing mixed signals.

The RSI is below 50, indicating a bearish bias, but it has recently bounced above the zero line, entering the buying zone. The MACD is also crossing above its signal line, supporting the possibility of a bullish continuation.

If Bitcoin manages to break through the $25,600 level, it could potentially target the resistance levels at $26,000 and $26,250. On the downside, immediate support for Bitcoin is seen around $25,150 and $24,750.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Sell Below 25550

Stop Loss – 25850

Take Profit – 25000

Risk to Reward – 1 : 1.8

Profit & Loss Per Standard Lot = +$550/ -$300

Profit & Loss Per Micro Lot = +$55/ -$30

Daily Price Outlook

• Gold prices approach resistance in bearish channel, potential for bearish rebound.
• Confirmation of bearish scenario if gold breaks below $1,945.20, targeting $1,913.15.
• Bearish outlook maintained, but consolidation above $1,956.50 may lead to short-term gains and test resistance at $1,977.25.

Gold prices are currently hovering near the resistance of a correctional bearish channel. Stochastic indicators show signs of overbought conditions, indicating a potential negative shift in momentum.

This could lead to a bearish rebound and continuation of the overall downtrend. Breaking below the $1,945.20 level would confirm the bearish scenario, with the next target around $1,913.15.

Considering this, our outlook remains bearish for the foreseeable future. However, if gold consolidates above $1,956.50, it could experience short-term gains and test a significant resistance level at $1,977.25 before any potential decline.

Today’s expected trading range is between $1,935.00 support and $1,970.00 resistance.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below 1960

Stop Loss – 1975

Take Profit – 1945

Risk to Reward – 1 : 1

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

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

Daily Price Outlook

• S&P 500 exhibits strong bullish momentum, surpassing the $4,375 level and currently trading near $4,425.
• Daily timeframe reveals the index crossing above the 50-day exponential moving average, acting as support around $4,283.
•  Immediate support lies at $4,379, followed by $4,300, aligned with an hourly trend line.

On Friday, the S&P 500, the leading stock market index, is showing strong bullish momentum after breaking through the $4,375 level. It is currently trading around the $4,425 level.

Observing the daily timeframe, the S&P 500 has successfully crossed above the 50-day exponential moving average, which is now acting as a support around the $4,283 level.

The relative strength index (RSI) and moving average convergence divergence (MACD) indicators are both in overbought territory, suggesting that the market may be overextended and sellers could enter.

Zooming in on the hourly timeframe, there is a trend line providing support around the $4,434 level. A failure to break above this level or a close of candles below it could trigger a bearish correction in the S&P 500.

On the downside, immediate support is expected around the $4,379 level, followed by the next support at the $4,300 level, which aligns with an hourly trend line.

Alternatively, a breakthrough of the $4,435 level could potentially push the S&P 500 towards the $4,500 or even $4,595 level.

SPX Price Chart – Source: Tradingview

SPX S&P500 – Trade Idea

Entry Price – Sell Below 4443.78

Stop Loss – 4517.10

Take Profit – 4290.00

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$140/ -$67

Daily Price Outlook

• Gold prices ended yesterday with a clear decline, breaking below $1,945.20 and confirming the bearish trend.
• To reverse the current negative pressure, gold would need to surpass $1,945.20 and $1,958.40 levels, potentially shifting towards a bullish trend.
• The expected trading range for today is between the support level at $1,915.00 and the resistance level at $1,950.00.

Gold prices ended on a sour note yesterday, breaking below the level of $1,945.20 and settling below it once again. This reinforces the expectation of a continued bearish trend in the upcoming sessions, with the potential for the price to target our next downside objective at $1,913.15.

The bearish channel remains in control, orchestrating the anticipated downward movement and finding steady support from the EMA50 indicator.

It’s worth noting that if gold manages to break above the levels of $1,945.20 and $1,958.40, it could alleviate the current selling pressure and set the stage for a potential attempt to regain the primary bullish trend.

In terms of trading expectations for today, the anticipated range is between the support level at $1,915.00 and the resistance level at $1,950.00. Traders will be keeping a close eye on these levels to gauge the price action in the market.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price –1950

Take Profit – 1923

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$1400/ -$1300

Profit & Loss Per Micro Lot = +$140/ -$130

Daily Price Outlook

• Ripple completes a 61.8% Fibonacci retracement near $0.470, signaling a potential bullish reversal.
• Resistance levels to watch are $0.4873 and $0.5051, but mixed signals from other technical indicators add some uncertainty.
• Long positions above $0.5053 and short positions below $0.4700 are recommended for the upcoming dance floor action.

Ripple has recently taken a swing on the technical dance floor, completing a 61.8% Fibonacci retracement around the $0.470 level. Despite struggling to break through the resistance level at $0.5426, the price has dropped it like it’s hot.

But fear not, as a bullish candlestick pattern has emerged near the 61.8% retracement, hinting at a potential dance move in the opposite direction.

If the music keeps playing, the cryptocurrency pair could bust some moves and aim for the next resistance levels at $0.4873 and $0.5051. However, the other dancers on the floor are sending mixed signals.

The 50-day exponential moving average is doing some fancy footwork as a significant resistance at the $0.5044 level, while the relative strength index and moving average convergence divergence are twirling in a neutral zone.

To groove with the rhythm, it’s wise to hit the dance floor with long positions above the $0.5053 level and short positions below the $0.4700 level. The breakdance battle between these levels will decide the future dance routine, which we’ll reveal in our upcoming forecast.

XRP/USD Price Chart - Source: Tradingview

XRP/USD – Trade Idea

Entry Price – Sell Below 0.48956

Stop Loss– 0.51170

Take Profit – 0.44496

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$44/ -$22