Daily Price Outlook

• Gold prices closed below the $1945.20 level, indicating a continuation of the corrective bearish trend with a target of $1913.15.
• The 50-day Exponential Moving Average (EMA50) is applying downward pressure, suggesting further decline. Breaking the target level may lead to additional losses towards $1873.50.
• If the price breaches $1945.20, it would be a positive signal for potential recovery towards testing the $1977.25 area.

Gold prices closed below the $1945.20 level yesterday, indicating the continuation of the corrective bearish trend with a target of $1913.15 as the next significant level.

The 50-day Exponential Moving Average (EMA50) is exerting downward pressure on the price, reinforcing expectations of further decline.

Breaking the targeted level could result in additional losses, potentially reaching $1873.50. However, if the price manages to breach $1945.20, it would be a positive factor that could lead to a recovery and a test of the $1977.25 area initially.

For today, the expected trading range is between support at $1920.00 and resistance at $1950.00.

In summary, the forecast for today is bearish, indicating a downward trend for gold prices.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above 1930

Stop Loss – 1920

Take Profit – 1955

Risk to Reward – 1 : 2.5

Profit & Loss Per Standard Lot = +$2500/ -$1000

Profit & Loss Per Micro Lot = +$250/ -$100

Daily Price Outlook

• Bitcoin breaks through $27,000 resistance, igniting a powerful uptrend toward $28,300.
• Technical indicators, including RSI and MACD, favor Bitcoin's upward journey.
• Crossing above the 50-day EMA, Bitcoin finds solid support around $27,000, indicating bullish strength.

Get ready for some Bitcoin excitement! The world's leading cryptocurrency is making some serious moves on the technical front. It's trading with an impressive bullish momentum after breaking through the stubborn resistance at $27,000, provided by a downward trend line.

This breakthrough has ignited a powerful uptrend, propelling the Bitcoin price towards its next target at $28,300. But here's the burning question: Can Bitcoin maintain this incredible momentum and soar to the coveted $30,000 mark? Let's take a peek at the technical indicators.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are flashing green, indicating a favorable zone for Bitcoin's upward journey.

Moreover, Bitcoin has triumphantly crossed above the 50-day Exponential Moving Average, which is now acting as a sturdy support level around $27,000.

Excitingly, there's more! Bitcoin has even formed a thrilling "Three White Soldiers" candlestick pattern on the daily timeframe, underscoring the dominant bullish trend.

With all these exciting developments, there's a good chance that Bitcoin will continue its upward trajectory. However, brace yourselves for a potential minor correction as it approaches the critical $28,300 level.

This level holds the key to Bitcoin's next moves. If it manages to hold above this level, we can expect the bullish momentum to persist and carry Bitcoin towards the remarkable $30,000 milestone.

And if that magical mark is conquered, the next target in Bitcoin's sights could be around $30,900. So, fasten your seatbelts and enjoy the Bitcoin thrill ride!

BTC/USD Price Chart - Source: Tradingview

BTC/USD - Trade Idea

Entry Price – Buy Above 28260

Stop Loss – 26850

Take Profit – 29880

Risk to Reward – 1 : 1.15

Profit & Loss Per Standard Lot = +$1620/ -$1410

Profit & Loss Per Micro Lot = +$162/ -$141

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

• Dogecoin is currently consolidating between the upper limit of $0.0625 and the lower limit around $0.0580. It has rebounded from a low at $0.0529 and is now trading around $0.06171.
• The Relative Strength Index (RSI) is providing mixed signals, oscillating above and below the 50 level.
• Dogecoin breaks above the $0.0626 level, it could potentially reach the 61.8% Fibonacci retracement level at $0.0645, with further targets at $0.067 and $0.0711.

Dogecoin is currently in a consolidation phase, dancing between the upper limit of $0.0625 and the lower limit around $0.0580. After briefly hitting a low at $0.0529, it bounced back and is now grooving around $0.06171.

The coin has already completed the 23.6% and 38.2% Fibonacci retracement levels at $0.058 and $0.060, respectively. Recently, it encountered a resistance level at $0.06260, aligned with the 50% Fibonacci retracement level.

The Relative Strength Index (RSI) is sending mixed signals, fluctuating above and below the 50 level, while the Moving Average Convergence Divergence (MACD) indicates a neutral market vibe near the zero level.

If Dogecoin breaks above the $0.0626 level, it may hit the 61.8% Fibonacci retracement level at $0.0645, with potential targets at $0.067 and $0.0711.

On the downside, support is expected around $0.058 or $0.0540. So, keep an eye on the $0.0626 level, as it sets the rhythm for the party, with sellers below and an upward trend above.

DOGE/USD Price Chart – Source: Tradingview

DOGE/USD – Trade Idea

Entry Price – Sell Below 0.0622

Stop Loss – 0.0678

Take Profit – 0.0547

Risk to Reward – 1: 35

Profit & Loss Per Standard Lot = +$74/ -$56

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 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

• 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 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