Daily Price Outlook

The EUR/USD pair demonstrated significant upward momentum in the previous session, successfully breaching the 1.0880 level and advancing towards the 1.0955 threshold. This movement indicated an endeavor to regain ground in the upcoming trading sessions. However, the influence of stochastic negativity is currently introducing a certain bearish inclination.

Given this situation, the conflicting technical indicators prompt us to adopt a neutral stance until clearer signals emerge regarding the next directional movement. These signals could manifest through either a breach of the 1.0955 level or a breakdown below the 1.0880 support. It's important to note that a continuation of the ascent beyond this resistance could drive the price towards 1.1030 as the subsequent favorable target. Conversely, a breach of the support holds the potential to reignite the primary bearish trend, with the next target positioned at 1.0785.

Anticipated trading activities for today are expected to transpire within the range of support at 1.0830 and resistance at 1.1010.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.08932

Take Profit – 1.09840

Stop Loss – 1.08489

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$908/ -$443

Profit & Loss Per Micro Lot = +$90/ -$44

Daily Price Outlook

The GBP/USD pair demonstrated a robust upward surge in the previous session, finding support around the 1.2625 level and successfully reaching the anticipated bullish target at 1.2725. The pair has settled at this level, and our analysis suggests that surpassing this threshold during the morning trading session could pave the way for a continuation of the upward trajectory, aiming for levels around 1.2825 in the near-term perspective.

Consequently, our outlook leans towards a further bullish sentiment in the forthcoming sessions, bolstered by the ascent above the EMA50. It's important to note that a failure to breach the 1.2725 level may halt the positive scenario, potentially triggering a bearish phase targeting the 1.2625 level initially.

The projected trading range for today is expected to extend between the support at 1.2650 and the resistance at 1.2820.

GBP/USD - Trade Idea

Entry Price – Sell Below 1.27311

Take Profit – 1.26731

Stop Loss – 1.27665

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$580/ -$354

Profit & Loss Per Micro Lot = +$58/ -$35

Daily Price Outlook

The USD/JPY pair made an attempt to breach the 146.55 level yesterday; however, it encountered a strong downward reversal, ultimately reaching our initial awaited target at 145.75. At this point, it discovered significant support, setting the stage for a potential break of this level. Such a breach would serve as confirmation for the continuation of the prevailing bearish bias, guiding the price towards the subsequent downside target at 144.55.

Consequently, our stance maintains the bearish outlook for the forthcoming period. It's important to highlight that surpassing the 146.55 level would halt the projected decline and propel the price back into the realm of the primary bullish trajectory. The projected trading range for today is expected to fluctuate between the support level at 145.40 and the resistance at 146.95.

USD/JPY - Trade Idea

Entry Price – Buy Above 145.738

Take Profit – 147.339

Stop Loss – 145.117

Risk to Reward – 1: 1.2.5

Profit & Loss Per Standard Lot = +$1601/ -$621

Profit & Loss Per Micro Lot = +$160/ -$62

Daily Price Outlook

Gold's price experienced a robust upward surge yesterday, resulting in a significant breach of our initial target at $1,929.00. This breakthrough has solidified the path for further gains, with the next primary objective projected at $1,945.20.

The persistent influence of the double bottom pattern remains in effect, bolstering the likelihood of continued upward movement. It's important to highlight that a breach below $1,929.00 would exert downward pressure on the price, potentially leading it towards a crucial intraday support level at $1,913.15, before a definitive trend direction is determined. The projected trading range for today spans from $1,925.00 as the support to $1,950.00 as the resistance.

In terms of the anticipated trend for today, a bullish sentiment is expected to prevail.

GOLD (XAU/USD) - Trade Idea

Entry Price – Sell Below 1938

Take Profit – 1927

Stop Loss – 1946

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1100/ -$800

Profit & Loss Per Micro Lot = +$110/ -$80

Daily Price Outlook

The EUR/USD pair has successfully reached our anticipated target at 1.0880, encountering strong resistance at this level. This resistance is a result of the convergence of the previously breached 61.8% Fibonacci correction level with the resistance of the corrective bearish channel. Additionally, clear negative signals have emerged through the stochastic indicator.

Consequently, we hold the view that there is a valid possibility of a bearish rebound, leading to potential negative price movement in the upcoming trading sessions. The focus is on testing the 1.0785 level as a primary target. It's noteworthy that surpassing the levels of 1.0880 to 1.0890 would negate the projected decline, potentially allowing for further gains toward the 1.0955 region. The projected trading range for today is anticipated to lie between the support at 1.0785 and the resistance at 1.0925.

The anticipated trend for today is bearish.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.08503

Take Profit – 1.09279

Stop Loss – 1.08001

Risk to Reward – 1: 1.55

Profit & Loss Per Standard Lot = +$776/ -$502

Profit & Loss Per Micro Lot = +$77/ -$50

Daily Price Outlook

Upon examining the technical aspects of the S&P 500, it currently indicates fluctuations around the 4430 level. Analyzing the four-hour chart, the S&P 500 has rebounded from a significant support level of 4350. The manner in which the candles have closed suggests that the S&P 500 carries potential upside momentum.

It is nearing the 38.2% Fibonacci retracement level situated around 4440. Should the S&P 500 maintain its position above this level, it will likely encounter the next significant resistance at approximately 4475. Further upwards, another major resistance aligns with the 61.8% retracement level, amplified by a 61.8% extension. Conversely, if the S&P 500 drops below the 4400 level, subsequent support can be expected at 4450 and 4335.

The pivotal focus remains on the crucial support level of 4400, which is also today's pivot point. A stance above this level indicates a probable continuation of the bullish trend, while a position below may suggest further selling pressure.

S&P500 (SPX) - Trade Idea 

Entry Price – Buy Above 4400

Take Profit – 4470

Stop Loss – 4350

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$700/ -$500

Profit & Loss Per Micro Lot = +$70/ -$50

Daily Price Outlook

Gold's valuation demonstrates a pronounced upward momentum, inching closer to our initial projected target of $1,929. Upon closer examination of the trendlines, we observe the formation of a 'double bottom' pattern, which typically serves as a robust bullish signal. This lends significant weight to the likelihood of the price not just reaching, but potentially eclipsing the aforementioned target, setting its sights directly on the subsequent goal of $1,945.20.

Given the current market dynamics and the supportive role of the 50-day Exponential Moving Average (EMA50) - which consistently underpins the price - we maintain an optimistic forecast for gold in the near term. However, it's worth noting that any dip below the $1,913.15 threshold could derail this bullish trajectory, pivoting the market sentiment towards a potential decline. For the day, we anticipate the price to fluctuate between a support level of $1,913 and a resistance cap at $1,945.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Above 1920

Take Profit – 1930

Stop Loss – 1912

Risk to Reward – 1: 1.25

Profit & Loss Per Standard Lot = +$1600/ -$800

Profit & Loss Per Micro Lot = +$100/ -$80

Daily Price Outlook

The GBP/USD pair has demonstrated a notable upward trajectory, now challenging the 1.2625 threshold. Its current posture above this level augments the prospects of further appreciation, laying the groundwork for an intraday bullish momentum. We anticipate a potential trajectory towards the 1.2725 region in the near future.

For the forthcoming trading sessions: A successful breach of the 1.2660 level could expedite the bullish momentum.

However, an inability to sustain above the 1.2625 mark might curb the anticipated rise, potentially reversing the trend to a decline.

Today's forecasted trading band is set between a support of 1.2560 and a resistance at 1.2725.

GBP/USD - Trade Idea

Entry Price – Buy Above 1.26088

Take Profit – 1.26741

Stop Loss – 1.25583

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$653/ -$505

Profit & Loss Per Micro Lot = +$65/ -$50

Daily Price Outlook

The AUD/USD pair is demonstrating resilience around the 0.6400 juncture, initiating the session with an ascendant bias. It is attempting to distance itself from this benchmark, gearing up for a potential bullish surge with a tentative target in the vicinity of 0.6545.

Our analysis postulates a bullish orientation for today, corroborated by auspicious indications from the stochastic oscillator. Transcending the 0.6450 marker could further facilitate this upward trajectory. Conversely, any decline below the 0.6400 level might disrupt this bullish thesis, potentially reverting the pair to its prevailing bearish trend. For the day, we forecast a trading range delineated by a support level at 0.6380 and a resistance point at 0.6480.

AUD/USD - Trade Idea

Entry Price – Buy Above 0.64058

Take Profit – 0.64876

Stop Loss – 0.63575

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$818/ -$483

Profit & Loss Per Micro Lot = +$81/ -$48

Daily Price Outlook

The EURUSD currency pair currently hovers around the 1.0785 mark. It's observed that the stochastic exhibits a measured waning of its bullish momentum, concurrently with the EMA50 exerting downward pressure on the pair.

Considering these indicators, there's a heightened propensity for the pair to revert to its overarching bearish trajectory, as delineated within the bearish channel depicted on the chart. A definitive breach below the current level could signal a trajectory towards the 1.0700 benchmark. Conversely, surpassing the 1.0835 threshold might catalyze intraday advancements, with a potential aim to approach the 1.0880 mark before any subsequent retracements.

For today, the anticipated trading range is set between the 1.0720 support and 1.0880 resistance levels.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.08033

Take Profit – 1.08406

Stop Loss – 1.07726

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$373/ -$307

Profit & Loss Per Micro Lot = +$37/ -$30