Daily Price Outlook

• Gold prices show volatility around the EMA50, maintaining a bearish trend with a focus on testing $1,945.20 and potential further decline to $1,913.15.
• The Stochastic indicator signals negativity, supporting the continuation of the bearish wave. A breach above $1,977.25 could indicate a bullish reversal.
• Today’s expected trading range is $1,940.00 to $1,977.00, with an overall bearish trend forecasted.

Gold prices remain volatile around the EMA50, lacking significant movement since yesterday. This maintains the bearish trend intact for the foreseeable future, with a focus on testing the initial level of $1,945.20.

A breakthrough at this level would unlock the path towards the next correctional level at $1,913.15.

The Stochastic indicator continues to provide negative signals, reinforcing the potential for a continued bearish wave. It’s important to note that breaching $1,977.25 would halt the anticipated decline and potentially initiate a bullish reversal.

For today’s trading, the expected range is between support at $1,940.00 and resistance at $1,977.00. The overall trend for the day is expected to be bearish.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below 1964

Stop Loss – 1972

Take Profit – 1949

Risk to Reward – 1: 1.88

Profit & Loss Per Standard Lot = +$1500/ -$800

Profit & Loss Per Micro Lot = +$150/ -$80

Daily Price Outlook

• Solana has recovered from $19.20 support and surpassed the key level of $20, indicating growing optimism among investors.
• The SEC's lawsuit against Binance has created market uncertainty, impacting both precious metals and cryptocurrency prices.
• If Solana maintains its position above $20, it has the potential to reach targets at $20.39 and $20.76, aligning with Fibonacci retracement levels. Monitoring support at $19.75 is important for the upward trend continuation.

Solana has successfully recovered from the support zone at $19.20 and has now surpassed the significant psychological level of $20. The presence of a bullish engulfing candle followed by another bullish candle indicates a growing sense of optimism among investors, which will greatly influence future price movements based on both technical and fundamental factors.

Presently, investors are facing uncertainty regarding the market's direction, particularly due to the SEC's lawsuit against Binance. This has resulted in a risk-on sentiment affecting both the precious metals market and cryptocurrency prices.

Should Solana manage to maintain its position above $20, it holds the potential to reach the next target at $20.39, aligning with the 38.2% Fibonacci retracement level.

A successful breach of this level could lead to further gains, with a subsequent target at $20.76, corresponding to the 50% Fibonacci retracement level. Beyond that, the subsequent target lies around $21.2, representing the 61.8% Fibonacci retracement level.

Conversely, if Solana experiences a decline below the support level of $19.75, the next level of support is expected to be around $19.20.

Therefore, closely monitoring the price action around $19.75 is crucial, as a sustained move above this level would indicate a strong continuation of the upward trend.

Solana Price Chart - Source: Tradingview

Solana - Trade Idea

Entry Price – Buy Above 19.93

Stop Loss – 19.50

Take Profit – 20.76

Risk to Reward – 1: 1.93

Profit & Loss Per Standard Lot = +$77/ -$43

Profit & Loss Per Micro Lot = +$7.7/ -$4.3

Daily Price Outlook

• Ripple's (XRP) price exhibits a slight bullish trend after rebounding from the $0.4900 support level and breaking above $0.5008, forming a double bottom pattern.
• The presence of a doji candle followed by a bullish engulfing candle suggests a decrease in selling pressure and potential buyer control.
• Technical indicators, including RSI and MACD, indicate weakening selling pressure, with RSI approaching the 50 level, implying a possible continuation of the upward trend.

Ripple's (XRP) price is showing a slight bullish trend as it rebounds from the $0.4900 support level and breaks above $0.5008, forming a double bottom pattern.

The presence of a doji candle followed by a bullish engulfing candle suggests a decrease in selling pressure and the potential for buyers to take control.

Technical indicators, such as RSI and MACD, indicate weakening selling pressure, with RSI approaching the 50 level, indicating the possibility of continued upward movement.

The 50-day exponential moving average, positioned around $0.5280, indicates oversold conditions and potential for bullish price action.

Immediate resistance is expected at $0.5304, while support levels at $0.4805 and $0.4612 may come into play if the price breaks below $0.5008. Monitoring the price around the pivotal point of $0.5008 is important for assessing future market direction.

Ripple Price Chart - Source: Tradingview

Ripple's (XRP) - Trade Idea

Entry Price – Sell Below 0.51390

Stop Loss – 0.52555

Take Profit – 0.49206

Risk to Reward – 1: 1.87

Profit & Loss Per Standard Lot= +$218/ -$116

Profit & Loss Per Micro Lot = +$21.8/ -$11.6

Daily Price Outlook

• Gold is currently trading sideways around $1959, unable to break above the resistance at $1964.
• The $1958 level is acting as support, with the 23.6% Fibonacci retracement level and the 50-day exponential moving average providing additional reinforcement.
• If the price breaks below $1958, it could find further support at $1954 and $1951, corresponding to the 38.2% and 50% Fibonacci retracement levels.

On Tuesday, the price of gold is trading in a sideways pattern around the $1959 level, unable to break through the resistance at $1964. Currently, it is finding support around the $1958 level, which aligns with the 23.6% Fibonacci retracement level and the 50-day exponential moving average on the two-hour timeframe.

On the downside, a break below $1958 could expose gold to further support levels at $1954 and $1951, corresponding to the 38.2% and 50% Fibonacci retracement levels. Continued downward momentum may push the gold price towards the 61.8% level at $1948.

Therefore, it is important to monitor the price action around the $1964 level, as a break below this level could lead to further downside. On the other hand, a breakthrough above $1964 could provide room for buying opportunities, targeting levels at $1972 or $1980.

GOLD Price Chart - Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below 1960

Stop Loss – 1967

Take Profit – 1951

Risk to Reward – 1: 1.29

Profit & Loss Per Standard Lot = +$900/ -$7000

Profit & Loss Per Micro Lot = +$90/ -$70

Daily Price Outlook

• Gold experienced a sharp decline on Monday, trading near the $1943 level.
• The double bottom support level at $1953 has been broken, now acting as a significant resistance for gold prices.
• The 50-day exponential moving average is also acting as resistance around $1953, indicating a potential continuation of the downward trend, with potential support around $1932.

On Monday, the price of gold witnessed a sharp decline, trading around the $1943 level. On the four-hour timeframe, gold broke below the double bottom support level at $1953, which is now expected to act as a significant resistance for gold prices.

The 50-day exponential moving average is also acting as resistance around the $1953 level, further indicating a potential continuation of the downward trend, with potential support around the $1932 level.

The 50-day exponential moving average suggests selling pressure, while the RSI and MACD indicators are in oversold territory. Therefore, the $1953 level is likely to be a pivot point for gold prices today, with investors potentially considering selling opportunities at this level.

Alternatively, if gold breaks above the $1953 level, the next resistance levels to watch for are around $1960 or $1975.

GOLD Price Chart – Source: Tradingview

Gold (XAU/USD) Trade Idea

Entry Price – Sell Limit 1950

Stop Loss – 1965

Take Profit – 1932

Risk to Reward – 1 : 1

Profit & Loss Per Standard Lot = +$1711/ -$1586

Profit & Loss Per Micro Lot = +$171/ -$158

Daily Price Outlook

• The S&P 500 index is displaying a strong bullish bias around the 4282 level.
• The RSI and MACD indicators on the four-hour timeframe indicate a possible exhaustion of buyers.
• Resistance is observed around the 4300 level, with potential support at 4240 and further support at 4200 if the market experiences a correction.

On Monday, the S&P 500 stock market index is exhibiting a strong bullish bias, trading around the 4282 level. Our previous price prediction for the SPX has been in line with our forecast as it has reached our target.

Analyzing the four-hour timeframe, we observe that the RSI and MACD indicators have entered the overbought zone, suggesting a potential exhaustion of buyers and a possibility of sellers taking control for a correction in the market.

Currently, the SPX is facing resistance around the 4300 level, and a break below this level could lead to a decline towards the support level at 4240. However, if the SPX manages to stay above 4240, it may resume its bullish momentum.

On the other hand, a drop below 4240 could lead to further support at 4200, while a breakout above 4300 could set a target around 4348.

SPX Price Chart – Source: Tradingview

SPX S&P500 – Trade Idea

Entry Price – Buy Limit 4241.45

Stop Loss – 4192.62

Take Profit – 4347.82

Risk to Reward – 1 : 2.18

Profit & Loss Per Standard Lot = +$1063/ -$488

Profit & Loss Per Micro Lot = +$106/ -$48

Daily Price Outlook

• Bitcoin finds significant support at $26,750, reinforced by a triple bottom pattern
• RSI and MACD indicators signal bullish conditions
• Potential for a bullish breakout above $26,750, targeting resistance levels at $26,950 and $27,650

Bitcoin is currently finding significant support around the $26,750 level, which is reinforced by a triple bottom pattern, indicating a potential bullish reversal. The hourly timeframe also shows a trend line providing support at this level, adding to the likelihood of an upward move.

The RSI and MACD indicators are both signaling bullish conditions, further supporting the case for a potential reversal. Additionally, the resistance level around $27,350 is pushing Bitcoin’s price higher.

Despite the current bearish trend, there is potential for a bullish breakout above the $26,750 level. If this breakout occurs, the next resistance levels to watch for are around $26,950 and $27,650.

A breakout above the $27,350 level could propel Bitcoin towards $27,650 and potentially higher, reaching levels around $27,900 or $28,000.

Key levels to monitor for today include the $27,000 support level, as a break below could indicate a continuation of the bearish trend. Conversely, if Bitcoin breaks above the $26,750 level, the next trend could be bearish once again.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Sell Limit 27004

Stop Loss – 27471

Take Profit – 26489

Risk to Reward – 1 : 1

Profit & Loss Per Standard Lot = +$515/ -$467

Profit & Loss Per Micro Lot = +$51/ -$46

Daily Price Outlook

• Gold price has experienced volatility, bouncing off the triple bottom support and breaking through the $1,970 resistance level.
• Immediate resistance is expected around $1,985, with potential targets at $1,990 and $2,000.
• Technical indicators are favoring a bullish outlook, with support from the 50-day exponential moving average.

The price of the precious metal gold is currently experiencing some volatility after bouncing off the triple bottom support level around $1,954. It has now broken through the $1,970 resistance level and is currently holding around $1,987. In terms of immediate resistance, it is likely to be encountered around the $1,985 level, with the potential to reach the next target levels of $1,990 or $2,000.

Looking at the leading and lagging technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), all indicators are holding within a favorable zone. The 50-day exponential moving average is also providing significant support around the $1,970 level, further favoring the bullish outlook for gold.

However, it is important to monitor the key resistance level around $1,995, as a failure to break through this level could trigger a reversal and potentially lead to a bearish trend towards the $1,975 or $1,970 level.

On the other hand, if the triple top resistance level at $1,985 is violated, it has the potential to further propel the gold price towards the $2,000 level. It is important to note that market participants should closely monitor the upcoming US nonfarm payroll data and unemployment rate, as it could have a significant impact on price action.

GOLD Price Chart – Source: Tradingview

GOLD (XAU/USD) Trade Idea

Entry Price – Buy Above 1975

Stop Loss – 1962

Take Profit – 2000

Risk to Reward – 1 : 1.92

Profit & Loss Per Standard Lot = +$2500/ -$1300

Profit & Loss Per Micro Lot = +$250/ -$130

Daily Price Outlook

• AUD/USD has shown a bullish run, breaking above the 0.6585 resistance level.
• A bullish engulfing candlestick pattern suggests strong momentum and bullish sentiment.
• Target levels for further upward movement are 0.6640 and 0.6675.

The AUD/USD currency pair has experienced a bullish run, breaking above the key resistance level at 0.6585. On the four-hour timeframe, a bullish engulfing candlestick pattern has formed, indicating strong upward momentum and bullish sentiment towards the AUD/USD price.

Currently, it is trading around the 0.6612 level, with a high likelihood of continued upward movement towards the 0.6640 or 0.6675 levels. On the downside, immediate support is expected around the 0.6585 level, followed by potential support at 0.6550 or 0.6500 levels.

The 50-day exponential moving average, relative strength index (RSI), and moving average convergence divergence (MACD) indicators all suggest a balanced outlook for the currency pair. Therefore, it is important to monitor the 0.6585 level, as a successful break above it could lead to further upward momentum.

Additionally, keep an eye on the upcoming US unemployment figures, particularly the nonfarm payrolls (NFP) and unemployment rate, as they have the potential to influence additional price movements.

AUD/USD Price Chart – Source: Tradingview

AUD/USD – Trade Idea

Entry Price – Buy Above 0.65986

Stop Loss – 0.65452

Take Profit – 0.66726

Risk to Reward – 1 : 1.92

Profit & Loss Per Standard Lot = +$740/ -$534

Profit & Loss Per Micro Lot = +$74/ -$53

Daily Price Outlook

• Bitcoin exhibited bullish momentum after rebounding from the 26,620 level.
• The formation of hammer candlesticks near 26,620 suggests a weakening bearish sentiment.
• Resistance is expected around the 27,275 level, with technical indicators indicating continued upward momentum.

On Friday, during the Asian session, the leading cryptocurrency Bitcoin exhibited bullish momentum after rebounding from the 26,620 level. This aligns with our previous price prediction, as we anticipated this price action in our recent Bitcoin forecast.

The 2-hour timeframe shows the formation of hammer candlesticks near the 26,620 level, indicating a weakening bearish sentiment and a possible buying opportunity for Bitcoin.

On the upside, Bitcoin is expected to encounter resistance near the 27,275 level, which coincides with the 61.8% Fibonacci retracement level that previously acted as support. This level is likely to serve as a barrier for further upward movement.

Additionally, key technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have crossed into the buying zone, indicating a high probability of continued upward momentum, especially on the lower timeframe.

It’s important to note that there is a downward trend line on the daily timeframe that could potentially limit Bitcoin’s rise around the 27,275 level. A decisive break above this trend line could lead to a further increase towards the 27,499 level and potentially reach $28,000 as the next significant target.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Idea

Entry Price – Buy Above 26600

Stop Loss – 26200

Take Profit – 27500

Risk to Reward – 1 : 2.25

Profit & Loss Per Standard Lot = +$900/ -$400

Profit & Loss Per Micro Lot = +$90/ -$40