On Tuesday, the precious metal gold oscillated around the $1,992 level, attempting to break through it. This suggests a bearish trend for the upcoming period, with the next correctional target set at $1,957.

The exponential moving average (EMA50) exerts negative pressure on the price, supporting the continuation of the corrective bearish scenario.

However, it is essential to note that breaching the $2,010 level would halt the anticipated decline and lead the price to regain its primary bullish trend.

The expected trading range for today lies between the $1,975 support level and the $2,010 resistance level.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above $2000

Stop Loss – $1992

Take Profit – $2015

Risk to Reward – 1 : 1.88

Profit & Loss Per Standard Lot = +$1,500/ -$800

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

The EUR/USD currency pair trades with a neutral bias after facing strong resistance around the 1.098 level. Extended by a double-top pattern, the resistance level is a solid resistance for the euro today.

On the lower side, the EUR/USD pair has immediate support around the 1.0952 level, and a substantial sell-off could push the pair further down toward the 1.0930 or 1.0910 levels. However, if the EUR/USD breaks above 1.0985, it can target resistance levels of 1.1000 or 1.1018.

EUR/USD Trade Idea

Entry Price – Sell Below 

Stop Loss – 1.10068

Take Profit – 1.09537

Risk to Reward – 1 : 1.1

Profit & Loss Per Standard Lot = +$280/ -$250

Profit & Loss Per Micro Lot = +$28/ -$25