Daily Price Outlook

- Uptrend Remains Strong: USD/JPY is trading well above its 50 EMA at 144.045, supporting the bullish bias.

- RSI in Overbought Territory: The RSI at 70 signals potential for a short-term pullback or consolidation phase.

- Critical Resistance at 147.248: A breakout above this level could drive the pair toward 147.866 and 148.567.

The U.S. Dollar (USD) is maintaining its upward trajectory against the Japanese Yen (JPY), currently trading at 146.768, up 0.22% for the session. The pair’s strength can be attributed to a combination of favorable U.S. economic data and continued monetary policy divergence between the Federal Reserve and the Bank of Japan.

The 4-hour chart shows USD/JPY trading above its pivot point of 146.231, with bullish momentum pushing the price towards the immediate resistance level at 147.248. Further resistance is noted at 147.866 and 148.567, where a breakout could spark another leg higher.

Technical indicators reveal a mixed outlook. The Relative Strength Index (RSI) has surged to 70, suggesting that the pair is now approaching overbought territory. This could result in a short-term pullback or consolidation phase as traders look to lock in profits. On the support side, the 50-day Exponential Moving Average (EMA) is positioned at 144.045, providing a solid floor that could limit any downward movement.

Immediate support stands at 145.585, followed by additional support levels at 145.104 and 144.609. A break below 145.585 could see the pair testing the 50 EMA near 144.045, though the overall uptrend remains intact as long as prices hold above the pivot point at 146.231.

Conclusion: With the pair nearing overbought conditions, traders may consider short positions if the price drops below 147.255, targeting 145.620, while placing a stop-loss at 148.227 to limit potential losses.

USD/JPY - Trade Ideas

Entry Price – Sell Below 147.255

Take Profit – 145.620

Stop Loss – 148.227

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1635/ -$972

Profit & Loss Per Mini Lot = +$163/ -$97

Daily Price Outlook

- Bearish Momentum Intact: AUD/USD remains pressured below the pivot point at $0.68873, with the 50 EMA at $0.69022 reinforcing a downtrend.

- RSI Nearing Oversold: The RSI at 37 suggests the pair is approaching oversold conditions, but a clear buy signal has not yet emerged.

- Critical Support Levels: Immediate support at $0.68423; a break below could target $0.68211 and $0.67994.

The Australian Dollar (AUD) is losing ground against the U.S. Dollar (USD), currently trading at $0.68622, down 0.33% for the session. The bearish pressure comes amid heightened risk aversion, as investors digest mixed U.S. economic data and concerns over China’s economic slowdown, which is weighing on commodity-linked currencies like the AUD.

The 4-hour chart shows that the AUD/USD pair is struggling to hold above its pivot point at $0.68873, indicating sellers are dominating the market. Immediate support is found at $0.68423, with subsequent support levels at $0.68211 and $0.67994.

The technical indicators reinforce a cautious outlook. The 50-day Exponential Moving Average (EMA) hovers at $0.69022, well above the current price, underscoring the bearish momentum. Meanwhile, the Relative Strength Index (RSI) is at 37, approaching oversold territory but not yet signaling a reversal. Traders should remain vigilant as a break below $0.68423 could see the AUD/USD pair testing deeper support levels.

Immediate resistance stands at $0.69160, and for any significant recovery, the pair would need to surpass this barrier, targeting $0.69403 and $0.69622 as next upside objectives. The short-term outlook remains bearish, particularly if the pair continues to trade below its 50 EMA, which could open doors for further declines.

Conclusion: Traders might consider entering short positions below $0.6878, aiming for a take profit around $0.68426, while maintaining a stop-loss at $0.69051 to manage risk effectively.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.6878

Take Profit – 0.68426

Stop Loss – 0.69051

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$354/ -$271

Profit & Loss Per Mini Lot = +$35/ -$27

Daily Price Outlook

- Resistance at $2,669.37: Gold needs to clear this level for a bullish reversal.

- Immediate Support at $2,648.16: A break below may trigger further declines.

- 50-EMA as a Barrier: Acting as strong resistance, holding back bullish momentum.

Gold (XAU/USD) is currently trading at $2,654.30, down 0.35% for the day, as the metal faces renewed selling pressure. Despite a modest recovery attempt, gold failed to breach the immediate resistance level at $2,669.37, which aligns with its descending trendline and the 50-day Exponential Moving Average (EMA) at $2,656.41. This has reinforced bearish sentiment among traders.

The Relative Strength Index (RSI) is holding at 50, indicating a lack of strong momentum in either direction. If gold prices break below the immediate support at $2,648.16, it could trigger a deeper correction toward the next support levels at $2,639.79 and $2,631.27. Conversely, if gold manages to clear the $2,669.37 resistance, it could set the stage for a move higher to $2,677.74 and potentially $2,685.39.

Short-term technical indicators suggest a cautious outlook, with gold needing to maintain support above $2,648.16 to avoid further declines. Traders should watch for a clear break above $2,669.37 to confirm any renewed bullish momentum.

Gold remains under bearish pressure. An entry position could be considered below $2,660, targeting support at $2,648. For upside potential, a break above $2,669 is required to open further gains.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2660

Take Profit – 2648

Stop Loss – 2669

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1200/ -$900

Profit & Loss Per Mini Lot = +$120/ -$90

Daily Price Outlook

- Immediate Resistance: $1.10832 – A break above could lead to testing the next resistance at $1.10952.

- Immediate Support: $1.10461 – Failure to hold this level could result in a decline to $1.10254 and $1.10051.

- Pivot Point: $1.10695 – Currently acting as a short-term neutral level.

EUR/USD is currently trading at $1.10651, down 0.02% in today’s session. The pair has struggled to gain traction, reflecting the broader uncertainty in global currency markets. After testing the $1.10832 resistance level earlier today, EUR/USD failed to break higher, suggesting that bearish momentum is still intact. The 50-day Exponential Moving Average (EMA) at $1.11405 continues to act as a strong resistance, capping further upside potential.

The Relative Strength Index (RSI) has dipped to 32, indicating bearish momentum and suggesting that EUR/USD could face additional downward pressure if it drops below 30. On the downside, immediate support is seen at $1.10461. A break below this level could accelerate declines toward $1.10254 and $1.10051. Conversely, for a bullish reversal to take hold, the pair must decisively break above the pivot point at $1.10695 and test the resistance levels at $1.10832 and $1.10952.

Short-term technical indicators suggest that EUR/USD may experience further declines if it fails to regain ground above $1.10695. The pair remains under selling pressure, with an entry below $1.10694 offering potential profit at $1.10453. Traders should watch for a move above $1.10832 to signal a potential bullish reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10694

Take Profit – 1.10453

Stop Loss – 1.10838

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$241/ -$144

Profit & Loss Per Mini Lot = +$24/ -$14

Daily Price Outlook

- Immediate Resistance: $1.33299 – A break above could see the pair testing the $1.33569 resistance.

- Immediate Support: $1.32724 – Failure to hold this level may push the pair to test $1.32368 and $1.32084.

- Pivot Point: $1.32951 – Critical for determining near-term direction.

GBP/USD is currently trading at $1.32756, down 0.07% for the day, reflecting bearish sentiment amid concerns over potential interest rate decisions by the Bank of England (BoE). The pair has been under pressure since failing to sustain above the 50-day Exponential Moving Average (EMA) at $1.33647, a critical resistance that capped recent bullish attempts. The Relative Strength Index (RSI) stands at 34, indicating weak momentum, but not yet oversold, suggesting room for further declines.

On the downside, immediate support is seen at $1.32724, closely followed by $1.32368 and $1.32084. If the pair breaks below these levels, it could trigger additional selling pressure, pushing GBP/USD further down. Conversely, on the upside, the pivot point at $1.32951 will be crucial for the pair to reclaim a bullish bias. Immediate resistance is pegged at $1.33299, with subsequent resistance levels at $1.33569 and $1.33889. A sustained break above these levels would indicate renewed bullish momentum.

The 50-day EMA at $1.33647 remains a key barrier for GBP/USD. If the pair can rise above this level, it would signal a potential trend reversal. Until then, the outlook remains cautiously bearish.

The pair remains under bearish pressure, with an entry above $1.32722 offering potential profit at $1.33299. Monitor resistance at $1.33299 for signs of a bullish reversal.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.32722

Take Profit – 1.33299

Stop Loss – 1.32339

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$577/ -$383

Profit & Loss Per Mini Lot = +$57/ -$38

Daily Price Outlook

- Momentum Near Overbought Zone: RSI at 61 indicates bullish momentum, but a reversal may occur if resistance levels hold.

- Key Support at $1.34900: Critical support just above the 50-EMA could act as a floor, preventing deeper declines.

- Resistance at $1.35440 in Focus: A break above this immediate resistance is needed to confirm bullish continuation.

The U.S. dollar is holding steady against the Canadian dollar, with the USD/CAD pair currently trading at $1.35264, a marginal dip of 0.01% as traders await key economic data releases.

The pair is hovering near its pivot point of $1.35174, which suggests that the market is seeking directional clarity amid fluctuating crude oil prices and shifts in U.S. interest rate expectations.

With the pair’s Relative Strength Index (RSI) sitting at 61, momentum is slightly in favor of the bulls, but the market is approaching overbought territory, which could cap any immediate upside movement.

Immediate resistance is noted at $1.35440, a level that aligns with recent highs and may act as a short-term barrier for further gains. A break above this resistance would pave the way for the next upside targets at $1.35811 and $1.36118.

On the downside, immediate support stands at $1.34900, followed by $1.34631, which coincides closely with the 50-day Exponential Moving Average (EMA) at $1.34861.

A sustained move below these levels would likely trigger additional selling pressure, driving the pair towards the lower support at $1.34328.

The technical landscape suggests a potential buy setup above the $1.35150 mark, with a take-profit target at $1.35500 and a stop-loss at $1.34900.

As long as the pair remains above the 50-EMA, the bias is slightly bullish, with buyers likely to defend the key $1.34900 support level.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.35150

Take Profit – 1.35500

Stop Loss – 1.34900

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$350/ -$250

Profit & Loss Per Mini Lot = +$35/ -$25

Daily Price Outlook

- Pivot Point Support at $0.69069: The pair’s ability to hold above this level is crucial for maintaining a bullish bias.

- RSI Near Neutral at 48: Momentum is evenly balanced, suggesting no imminent overbought or oversold conditions.

- Resistance at $0.69403 in Focus: A decisive break above this level could propel AUD/USD towards $0.69622 and higher.

The Australian dollar (AUD) continues to edge higher against the U.S. dollar (USD), maintaining a cautious upward trajectory. As of the latest trading session, the AUD/USD pair is trading at $0.69223, marking a slight 0.15% increase.

This recent climb positions the pair above its pivot point at $0.69069, suggesting a potential for further gains if key resistance levels are breached.

Immediate resistance is observed at $0.69403, followed by additional hurdles at $0.69622 and $0.69823. The 50-day Exponential Moving Average (EMA) is currently situated at $0.69140, serving as a critical support area that underpins the current bullish bias.

A sustained hold above this level could reinforce the bullish outlook, encouraging further buying interest.

The Relative Strength Index (RSI) reads 48, signaling neutral momentum with a slight inclination towards the upside. This neutral reading suggests that the market is not yet overbought or oversold, offering room for additional price movement in either direction.

On the downside, immediate support is identified at $0.68886. Should the price break below this level, it could trigger a deeper correction towards $0.68696 and $0.68478, where buyers might step in.

Given the technical setup, a potential buy entry above $0.69069 appears favorable, targeting $0.69406 while maintaining a stop-loss just below immediate support at $0.68886.

The AUD/USD’s recent resilience hints at a measured bullish sentiment, provided it remains above the 50-EMA.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.69069

Take Profit – 0.69406

Stop Loss – 0.68886

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$337/ -$183

Profit & Loss Per Mini Lot = +$33/ -$18

Daily Price Outlook

- Immediate Resistance at $2,650.27: Aligns closely with the 50-day EMA, creating a strong ceiling for any bullish attempts.

- Support Levels to Watch: Key supports at $2,633.19 and $2,624.76 are critical; a break below these could lead to further losses.

- RSI Signals Neutral Momentum: With an RSI of 45.00, gold lacks a clear directional bias, suggesting consolidation is likely until further market catalysts arise.

Gold prices are trading in a narrow range, reflecting a consolidation phase as the market digests recent comments from the U.S. Federal Reserve and awaits pivotal economic data releases.

The precious metal is currently hovering around $2,638.40, showing a modest uptick of 0.14%. The recent price action has positioned gold just below its immediate resistance at $2,650.27, which coincides closely with the 50-day Exponential Moving Average (EMA) of $2,651.13.

This technical confluence suggests a robust barrier to any upside moves unless a substantial catalyst emerges.

The Relative Strength Index (RSI) reads 45.00, indicating that momentum is neutral, with a slight bearish tilt. Given the lack of strong directional momentum, gold is likely to continue oscillating between key support and resistance levels in the short term.

On the downside, immediate support is observed at $2,633.19, a level that, if breached, could accelerate declines toward $2,624.76 and potentially $2,615.24.

For traders, the pivot point at $2,643.35 is crucial. A sustained break below this level could signal further downside risk, making a short position attractive with a target of $2,630.

Conversely, a rebound above the 50-EMA resistance could pave the way for gold to test $2,660.86 and $2,671.02, offering a possible bullish reversal.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2643

Take Profit – 2630

Stop Loss – 2650

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1300/ -$700

Profit & Loss Per Mini Lot = +$130/ -$70

Daily Price Outlook

- Bullish Momentum: GBP/USD trades above its pivot at $1.3390, targeting resistance at $1.3427.

- Support Levels: Immediate support is seen at $1.3359; a break below could test $1.3334.

- Buy Strategy: Consider buying above $1.3390, targeting $1.3448 with a stop-loss at $1.3362.

GBP/USD is trading at $1.34054, up 0.15% for the day, indicating a mild bullish bias as it trades above its pivot point at $1.3390. The pair has been gaining traction, supported by positive UK economic data, and is now eyeing key resistance levels.

Immediate resistance is seen at $1.3427, followed by $1.3456 and $1.3487. A break above $1.3427 could pave the way for further gains, potentially targeting $1.3456 in the near term.

On the downside, immediate support lies at $1.3359, with subsequent support levels at $1.3334 and $1.3312. The 50-day Exponential Moving Average (EMA) at $1.3390 serves as a key short-term support level, and any sustained move below this point could shift the sentiment back to bearish.

Additionally, the Relative Strength Index (RSI) is currently at 58, indicating that the pair is not overbought, leaving room for potential further upside before reaching overextended levels.

Traders looking to capitalize on the current momentum might consider entering long positions above $1.3390, targeting $1.3448 with a stop-loss set around $1.3362 to limit downside risk. The GBP/USD outlook will remain dependent on upcoming economic data releases from both the UK and the U.S., with particular focus on U.S. jobs data and any potential shifts in Federal Reserve policy.

In summary, GBP/USD is trading with a slight bullish bias, holding above its pivot point. A break above $1.3427 could further strengthen the pair’s upward momentum. However, any move below $1.3359 would negate this bias and possibly lead to a retest of lower support levels.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33897

Take Profit – 1.34478

Stop Loss – 1.33621

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$581/ -$276

Profit & Loss Per Mini Lot = +$58/ -$27

Daily Price Outlook

- Bearish Bias: Gold remains under pressure below $2,658, with immediate support at $2,645.

- Key Resistance: $2,666 and $2,685 are critical levels to watch for a bullish breakout.

- Short Entry: Consider selling below $2,658 with a target of $2,640 and stop-loss at $2,665.

Gold (XAU/USD) is trading at $2,650.58, reflecting a slight decline of 0.08% as bearish sentiment persists. The metal is struggling to break above its pivot point at $2,658.20, indicating a lack of upward momentum.

Gold faces immediate resistance at $2,666.42, followed by a stronger barrier at $2,685.82. Any move above these levels could signal a potential bullish reversal; however, with the 50-day Exponential Moving Average (EMA) positioned at $2,663.47, this area remains a significant resistance zone for gold in the short term.

On the downside, immediate support is at $2,645.13, with further levels to watch at $2,634.74 and $2,624.02. A break below $2,645.13 could open the door to a deeper retracement, possibly testing the 200-day EMA around $2,628.98.

The Relative Strength Index (RSI) is currently at 41, suggesting a bearish bias but not yet oversold, leaving room for further declines.

From a technical perspective, sellers seem to have the upper hand as long as prices remain below the $2,658 pivot level. Traders might consider short positions below this level with a target of $2,640 and a stop-loss set at $2,665.

The broader market sentiment will likely be influenced by key events like the upcoming Non-Farm Payrolls (NFP) report and Fed Chair Powell’s speech, which could inject volatility into gold prices.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2658

Take Profit – 2640

Stop Loss – 2665

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$1800/ -$700

Profit & Loss Per Mini Lot = +$180/ -$70