Daily Price Outlook

The EUR/USD pair experienced negative trading yesterday and made an attempt to break the 1.1200 level. However, it later rebounded and remained above this level after finding support near 1.1170.

This keeps our bullish view intact, with further upward movement expected towards our next target at 1.1418.

The EMA50 indicator continues to provide support for the suggested bullish trend. To strengthen the positive outlook, a breakout above 1.1245 is necessary.

It is important to note that a break below 1.1200, followed by 1.1170, could exert corrective bearish pressure on the price, with initial targets around the 1.1105 area.

For today's trading, the expected range is between the support level at 1.1170 and the resistance level at 1.1310.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.12477

Take Profit – 1.10933

Stop Loss – 1.13392

Risk to Reward – 1: 1.16

Profit & Loss Per Standard Lot = +$154/ -$91

Profit & Loss Per Micro Lot= +$15/ -$9

Daily Price Outlook

The price of gold has successfully surpassed the level of $1,977.25, closing the previous four-hour candlestick above it. This development indicates the potential for a continued bullish trend in the short-term and intraday scenarios. As a result, new target levels are now in focus, beginning at $2,000.00 and followed by $2,016.90.

The upward movement is supported by a bullish channel, which receives significant reinforcement from the EMA50 indicator. However, if the price breaks below the level of $1,977.25, the anticipated rise may be halted, leading to a potential reversal and a shift towards a decline.

For today's trading, it is expected that the support level will be around $1,970.00, while resistance is likely to be encountered at $2,005.00.

Overall, the outlook for today suggests a bullish trend in the gold market, but it is important to monitor the price action closely for any potential reversals or shifts in the market sentiment.

GOLD(XAU/USD) - Trade Idea

Entry Price – Buy Limit 1974

Take Profit – 1999

Stop Loss – 1960

Risk to Reward – 1: 1.79

Profit & Loss Per Standard Lot = +$2500/ -$1400

Profit & Loss Per Micro Lot = +$250/ -$140

Daily Price Outlook

Gold prices settle around the $1,977.25 level, encountering strong resistance at this point. We await positive momentum to drive the price above this level and toward our next targets, starting at $2,000.00 and extending to $2,016.90.

The EMA50 continues to support the anticipated bullish trend, influenced by the previously completed double bottom pattern.

It is important to note that if the price consolidates around the $1,977.25 level despite bullish attempts, it may face intraday downward pressure, targeting the $1,945.20 level before any new upward movement.

The projected trading range for today is between support at $1,960.00 and resistance at $1,995.00.

GOLD (XAU/USD) - Trade Idea

Entry Price – Sell Limit 1980

Take Profit – 1965

Stop Loss – 1989

Risk to Reward – 1: 1.67

Profit & Loss Per Standard Lot = +$1500/ -$900

Profit & Loss Per Micro Lot= +$150/ -$90

Daily Price Outlook

Bitcoin's price is making an upward attempt from the $29,500 level, with the potential to gain bullish momentum if it surpasses the resistance at $30,200.

The recent price movement followed a bearish path, breaking below the $30,200 pivot level and testing support at $29,500. However, a low has been formed around $29,500, leading to a fresh increase in price.

If the price manages to break the trend line and surpass the 61.8% Fibonacci retracement level of the downward move, starting from the swing high at $30,448 to the low at $29,500, the first major resistance will be encountered near $30,200.

A close above this level could initiate a fresh increase, targeting the next major resistance at $30,500 and potentially reaching the $31,000 resistance zone.

However, if Bitcoin fails to clear the $30,200 resistance, further downside movement may occur. Immediate support can be found around the $29,650 level, followed by a major support level near $29,500.

A break below this level could lead to bearish momentum, potentially pushing the price towards the $29,200 support zone. Any additional losses might bring the price down towards the $28,750 level in the near term.

BTC/USD - Trade Idea

Entry Price – Sell Limit 30405

Take Profit – 28766

Stop Loss – 31237

Risk to Reward – 1: 1.19

Profit & Loss Per Standard Lot = +$1639/ -$832

Profit & Loss Per Micro Lot= +$163/ -$83

Daily Price Outlook

The EUR/USD pair is currently consolidating within a sideways pattern, as depicted on the chart. It is noteworthy that the stochastic indicator is displaying positive momentum and entering the positive zone, potentially signaling a resumption of the bullish trend. Our primary target for the upward movement remains at 1.1418.

Consequently, our outlook for the immediate future continues to favor a bullish trend. Nevertheless, it is essential to remain mindful that a breach below the 1.1200 level may trigger a corrective bearish phase, with initial targets at 1.1170 and further extending to 1.1105, before any subsequent attempt to rally.

The anticipated trading range for today is projected to lie between the support level at 1.1170 and the resistance level at 1.1310.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.12477

Take Profit – 1.10933

Stop Loss – 1.13392

Risk to Reward – 1: 1.16

Profit & Loss Per Standard Lot = +$154/ -$91

Profit & Loss Per Micro Lot= +$15/ -$9

Daily Price Outlook

The EUR/USD pair kicks off the day with positive momentum, signaling renewed efforts to break through the resistance of the current sideways range visible on the chart. This development reinforces expectations of a continued bullish trend in the upcoming sessions, with the next target set at 1.1275.

Sustaining levels above 1.1200 holds significant importance for the continuation of the suggested bullish wave. As the rise is anticipated to persist, additional positive targets are within reach, with the potential to surpass the aforementioned level and target 1.1418.

Traders should monitor the expected trading range for today, which is projected to span between the support level of 1.1170 and the resistance level of 1.1330.

In summary, the EUR/USD pair shows promising signs for a bullish breakout as it sets its sights on a key resistance level.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.12086

Take Profit – 1.13650

Stop Loss – 1.10903

Risk to Reward – 1:1.3

Profit & Loss Per Standard Lot = +$156/ -$118

Profit & Loss Per Micro Lot= +$15/ -$11

Daily Price Outlook

Gold prices tested the $1,945.20 level and exhibited a bullish bounce, indicating a potential resumption of the anticipated bullish movement on an intraday basis. The initial target for this upward wave is set at the $1,977.25 level.

The presence of the EMA50 provides support for the expected rise, which is further reinforced by the double bottom pattern observed on the chart. These factors increase the likelihood of surpassing the aforementioned target and heading towards the $2,000.00 level, followed by the $2,016.90 area as the next significant milestones.

As long as the price remains above the $1,945.20 level, the bullish trend scenario remains valid and in play. A breach of this level, followed by a drop below the $1,935.10 level, would raise concerns and potentially negate the bullish outlook.

Today's expected trading range is between support at $1,945.00 and resistance at $1,980.00.

Overall, the outlook for today remains bullish, with the potential for further upward movement in gold prices.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Limit 1954

Take Profit – 1970

Stop Loss – 1945

Risk to Reward – 1:1.7

Profit & Loss Per Standard Lot = +$1600/ -$900

Profit & Loss Per Micro Lot= +$160/ -$90

Daily Price Outlook

The USD/JPY pair is currently trading within a rising wedge pattern, as indicated on the chart. In order to establish a bearish momentum and resume the corrective downtrend, the price needs to break below the support line of this pattern at 138.50.

This would potentially push the price lower towards the initial targets at 137.35 and further extend to 135.55 upon surpassing the previous level.

Considering the negative readings from key technical indicators, we maintain our bearish outlook for the near future.

However, if the price manages to breach above 139.17, it would halt the current downward pressure and potentially lead to an attempt to regain the primary bullish trend.

For today's trading, the anticipated range is between support at 137.60 and resistance at 139.17.

USD/JPY - Trade Idea

Entry Price – Sell Limit 138.969

Take Profit – 137.268

Stop Loss – 140.070

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$170/ -$110

Profit & Loss Per Micro Lot= +$17/ -$11

Daily Price Outlook

The EUR/USD pair is currently trading in a sideways manner within a tight range, as indicated on the chart. It is noteworthy that the stochastic indicator is showing signs of improvement, hinting at a potential shift towards positive momentum.

This positive momentum could potentially support the continuation of the main bullish trend, with the next target set at 1.1275.

Hence, our previously optimistic outlook remains intact and valid for the near future, with the support of the EMA50. It should be noted that surpassing the targeted level may extend the bullish wave towards 1.1418.

However, if the price breaks below 1.1200, a temporary intraday bearish correction may occur before the upward movement resumes.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.12632

Take Profit – 1.11016

Stop Loss – 1.13322

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$1616/ -$690

Profit & Loss Per Micro Lot= +$161/ -$69

Daily Price Outlook

Gold prices show a slight negative movement, potentially testing the key support level at $1945.20. It is worth noting that the EMA50 intersects with this level, providing additional strength. The stochastic indicator indicates clear positive momentum.

Therefore, there is a valid possibility for the expected bullish trend to resume on an intraday basis, with a target of $1977.25.

This prediction is influenced by the presence of a double bottom pattern on the chart. However, if the price breaks below $1945.20, followed by $1935.10, the anticipated rise will be halted, and a decline may occur.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Limit 1950

Take Profit – 1970

Stop Loss – 1940

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$2000/ -$1000

Profit & Loss Per Micro Lot= +$200/ -$100