Daily Price Outlook

    * The USD/JPY currency pair is trading at 135.338, facing resistance at 135.350 due to a double top pattern on the two-hour chart.

    * Technical indicators like the 50-day exponential moving average suggest an upward trend around the 135 level, with bullish sentiment dominating the market.

    * If the USD/JPY breaks above 135, a buying position may be considered. However, it may be wise to await US inflation data for further price direction.

Examining the USD/JPY currency pair, it is currently trading at the 135.338 level. A double top pattern on the two-hour time frame is presenting solid resistance around the 135.350 level. When we consider technical indicators, such as the 50-day exponential moving average, they suggest an upward trend around the 135 level, and the closure of candles above the 135 level indicates that bullish sentiment is prevailing in the market.

Simultaneously, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are both situated in a buying zone. This suggests that if the USD/JPY pair successfully breaks through the 135.350 resistance level, it could potentially aim for the next target level of 136.

In summary, if the USD/JPY manages to break above the 135 level, investors may consider a buying position. Alternatively, it would be prudent to await US inflation figures to guide further price action in the Japanese yen today.

USD/JPY - Trade Idea

Entry Price – Buy Stop 135.404

Stop Loss – 134.904

Take Profit – 136.004

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$600/ -$500

Profit & Loss Per Micro Lot = +$60/ -$50

Daily Price Outlook

    * The EUR/USD pair shows a mild bullish trend, currently trading around 1.0960 after bouncing from the 1.0941 level.

    * Strong resistance for the pair exists near the 1.0990 level, reinforced by earlier highs and the 50-day exponential moving average.

    * Investors' attention today is on the US CPI figures, with higher inflation potentially driving a EUR/USD selling trend, and weaker figures possibly pushing the pair past 1.0990 towards 1.1054.

Good morning, everyone.

The EUR/USD currency pair is currently displaying a slight bullish bias, having bounced off the 1.0941 level and is currently trading around 1.0960. On the upside, the EUR/USD pair faces strong resistance near the 1.0990 level, a barrier strengthened by previously established highs and the 50-day exponential moving average (green line). These factors are likely to keep the EUR/USD upward movement limited.

Today, investor focus is expected to remain on the US CPI figures. Higher inflation figures typically trigger a selling trend in the EUR/USD currency pair. Conversely, if inflation figures are weaker or if the US economy falters, there's a possibility that the EUR/USD might breach the 1.0990 level and aim for the next resistance level at 1.1054.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09581

Stop Loss – 1.09279

Take Profit – 1.10315

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$735/ -$302

Profit & Loss Per Micro Lot = +$73/ -$30

Daily Price Outlook

    * Gold hit $2,030 on Wednesday, failing to cross $2,037, and slipped below the 50-day exponential average, despite bullish indicators.

    * An upward trend may support gold at $2,020, providing a buy opportunity if sustained. A fall below $2,020 could prompt a decline to $2,010 or $2,000.

    * If bullish trends dominate, gold could break the $2,035 resistance, potentially targeting $2,050 and $2,057.

On Wednesday, the precious metal gold traded at the $2,030 level, having failed to surpass the $2,037 resistance level. Presently, a glance at the technical side of the market reveals that gold has dipped below the 50-day exponential moving average, which was providing significant support around the $2,034 level. Concurrently, the RSI and MACD indicators remain in a buying zone.

There also appears to be an upward trend line likely to support gold prices around the $2,020 level. Hence, if gold continues its upward trajectory and closes above the $2,020 level, investors may have an opportunity to consider a buy position above this level. A break below the $2,020 level could potentially drive the gold price towards the next support levels at $2,010 or the psychological mark of $2,000.

On the other hand, if bullish buying dominates the market, then gold has the potential to break above the $2,035 resistance level. On the upside, it could potentially target the subsequent resistance levels of $2,050 and $2,057.

Gold (XAU/USD) Trade Idea

Entry Price – Sell Below $2035

Stop Loss – $2045

Take Profit – $2020

Risk to Reward – 1 : 1.5

Profit & Loss Per Standard Lot = +$1500/ -$1000

Profit & Loss Per Micro Lot = +$150/ -$100

Daily Price Outlook

    * Bitcoin's price is approaching the $27,000 support level, and could drop to $25,000 if it falls below it.

    * The decline was triggered by a break below $28,800, which has caused selling pressure to push BTC to the $27,200 level.

    * A significant negative trend line has formed on the hourly chart with resistance at around $28,150, and the next support level is around $27,000.

Bitcoin's price has fallen below $28,000 and is now approaching the $27,000 support level. If it falls below that level, it could drop to $25,000. This decline was triggered by the break below $28,800, which has caused selling pressure to push BTC to the $27,200 level.

The price is currently trading below $28,000 and the 100 hourly Simple Moving Average, and a significant negative trend line has formed on the hourly chart with resistance at around $28,150.

The next significant support level for Bitcoin is around $27,000, and any further declines could push it down to $25,500. Keep an eye on the market and trade wisely!

BTC/USD - Trade Idea

Entry Price – Sell Below 27733

Stop Loss – 28175

Take Profit – 27000

Risk to Reward – 1 : 1.66

Profit & Loss Per Standard Lot = +$733/ -$442

Profit & Loss Per Micro Lot = +$73/ -$44

Daily Price Outlook

    * The EUR/USD pair traded negatively and broke the 1.1010 level yesterday, settling below it and under expected negative pressure on the intraday basis.

    * Today, we suggest a bearish bias, but note that the expected decline is temporary and we anticipate resuming the main bullish wave starting at the 1.1075 level.

    * The expected trading range for today is between 1.0930 support and 1.1060 resistance.

Yesterday, the EUR/USD pair traded negatively and broke the 1.1010 level, settling below it and falling under expected negative pressure on the intraday basis. The main target is to test the 1.0945 level. Today, we suggest a bearish bias, noting that the expected decline is temporary and we anticipate resuming the main bullish wave that starts by testing the 1.1075 level.

If the decline continues and breaks the 1.0945 level, the price will be under more correctional bearish pressure, heading towards visiting the 1.0865 areas on a near-term basis. However, if the 1.1010 level is breached, it will represent the key to resume the bullish wave again without the expected decline.

The expected trading range for today is between 1.0930 support and 1.1060 resistance. Keep an eye out for any changes and happy trading!

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09844

Stop Loss – 1.09629

Take Profit – 1.10191

Risk to Reward – 1 : 1.17

Profit & Loss Per Standard Lot = +$347/ -$215

Profit & Loss Per Micro Lot = +$34/ -$21

Daily Price Outlook

    * Gold prices have settled around $2,020.00 with positive support from EMA50.

    * Stochastic is gathering positive momentum on the intraday time frames, indicating a potential rise in upcoming sessions.

    * First positive station target is $2,048.70, but breaking $2,002.00 could lead to correctional bearish wave. Expected trading range today is between $2,007.00 support and $2,045.00 resistance.

Gold prices are currently settled around the $2,020.00 level, with continuous positive support from the EMA50. The stochastic is beginning to gather positive momentum on the intraday time frames, which leads us to believe that there are valid chances for the rise to continue in the upcoming sessions.

Our first positive station target is set at $2,048.70, and breaching this level will push the price to $2,075.25 as the next target. However, breaking $2,002.00 represents a negative factor that will push the price to start a correctional bearish wave on the intraday basis.

The expected trading range for today is between $2,007.00 support and $2,045.00 resistance. Happy trading!

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above $2020

Stop Loss – $2005

Take Profit – $2055

Risk to Reward – 1 : 2.33

Profit & Loss Per Standard Lot = +$3500/ -$1500

Profit & Loss Per Micro Lot = +$350/ -$150

Daily Price Outlook

    * Gold price experiences a bullish bounce, extending an upward trend from the 78.6% Fibonacci retracement level of 1,999.

    * Immediate resistance around 2,024, while RSI and MACD indicators show divergence on the four-hour timeframe.

    * Watch for pivot point at 2,025 level, with potential buy positions above 2,015 and a stop loss around 2,010.

Good morning, everyone, and welcome back to another week. Taking a look at the precious metal, gold, the price has experienced a slight bounce from just above the 78.6% Fibonacci retracement level of 1,999. The closing of candles above the 2,010 level has triggered a bullish bounce, and it is now extending an upward trend in today's gold price.

On the four-hour timeframe, gold is likely to face immediate resistance around the 2,024 level, which is marked by the 50-day exponential moving average (green line). Meanwhile, the RSI and MACD indicators are showing divergence. For instance, the RSI is holding above the 50 level, while the MACD is still forming histograms below the zero level.

Given this, we must keep an eye on the 2,025 level, as it is likely to act as a pivot point for gold today. Failure to cross above this level has the potential to limit gold's upward movement.

However, if gold manages to break above the 2,025 level, the upward trend will be exposed to the next resistance levels of 2,032 or 2,046. So today, the idea is to look for a buy position above the 2,015 level, with a stop loss placed somewhere around 2,010.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above $2012

Stop Loss – $1997

Take Profit – $2040

Risk to Reward – 1 : 2.2

Profit & Loss Per Standard Lot = +$2769/ -$1457

Profit & Loss Per Micro Lot = +$276/ -$145

Daily Price Outlook

    * The EUR/USD pair is trading bullishly around 1.1040, with immediate support at 1.1016 and a Tweezer Bottom pattern indicating a potential upward movement.

    * The next resistance level for EUR/USD is at 1.1060, and crossing this level may lead to the price reaching 1.1090.

    * The 50-day EMA acts as support, while RSI and MACD indicators show a buying zone; today's pivot point is around 1.1015, with a suggested buy position above 1.1025.

On Monday, the EUR/USD pair is trading around the 1.1040 level, exhibiting a bullish bias. On the two-hourly timeframe, we can see that the EUR/USD has found immediate support around the 1.1016 level.

Moreover, the currency pair has formed a Tweezer Bottom pattern, or alternatively, a bullish engulfing pattern, which can be observed on the two-hourly timeframe near the 1.1016 level. Currently, the formation of three white soldiers candlesticks indicates that the bullish bias is dominating the market.

With that in mind, the EUR/USD has the potential to target the next resistance level at 1.1060, and a bullish cross above this level could lead the price towards 1.1090.

The 50-day exponential moving average has already been surpassed by the EUR/USD around the 1.1030 level and is now acting as support. Meanwhile, the RSI and MACD, two leading technical indicators, are also holding in a buying zone.

Consequently, today's pivot point is likely to be around the 1.1015 level. The suggested strategy is to look for a buy position above 1.1025 for today.

EUR/USD - Trade Idea

Entry Price – Buy 1.1025

Stop Loss – 1.0988

Take Profit – 1.10900

Risk to Reward – 1 : 1.77

Profit & Loss Per Standard Lot = +$646/ -$366

Profit & Loss Per Micro Lot = +$646/ -$36

Daily Price Outlook

    * Ethereum faces a decline, struggling to surpass $2,000 and entering a bearish zone like Bitcoin, with current price around $1,843.

    * Breaking above $1,915 resistance could lead to a surge towards $1,940 and possibly $2,000 or $2,050.

    * Failure to clear $1,900 could result in further price drops, with support levels at $1,840, $1,800, and potentially $1,740 or $1,700.

Ethereum's struggle to surpass the $2,000 mark led to a decline, entering a bearish zone like Bitcoin. Currently, ETH's price hovers around $1,843, with resistance forming near $1,900 on the hourly chart. Immediate resistance lies at $1,890, close to the 50% Fib retracement level of the recent drop.

If Ethereum can break above $1,915, it could surge towards $1,940 and potentially reach $2,000 or $2,050. However, if it fails to clear $1,900, the price might continue to drop, with support levels at $1,840, $1,800, and possibly $1,740 or $1,700.

Ethereum - Trade Idea

Entry Price – Sell Below 1880

Stop Loss – 1910

Take Profit – 1845

Risk to Reward – 1 : 1.17

Profit & Loss Per Standard Lot = +$317/ -$270

Profit & Loss Per Micro Lot = +$31.7/ -$27

Daily Price Outlook

    * EUR/USD tested EMA support at 1.1010 and is starting positively, attempting to resume the bullish trend. Stochastic signals positive. Breach of 1.1075 confirms rally to 1.1150.

    * We suggest intraday and short-term bullish trend. Breaking 1.1010 leads to negative pressure and a potential drop to 1.0945.

    * Today, the EUR/USD's range is likely to be between 1.0970 support and 1.1120 resistance.

The EUR/USD pair tested the Exponential Moving Average 50 (EMA50), which formed good support at 1.1010 and maintained stability above it. It has started today with a positive trend and attempts to resume the main bullish trend. The Stochastic oscillator is providing clear positive signals at the moment, which could motivate the price to provide more positive trades in the upcoming sessions. The breach of 1.1075 will confirm a rally towards the next target of 1.1150.

Therefore, we will continue to suggest a bullish trend on an intraday and short-term basis. Breaking 1.1010 will stop the positive scenario and put the price under additional negative pressure, leading to a potential drop towards the 1.0945 level before any new attempt to rise.

The expected trading range for today is between the support level of 1.0970 and the resistance level of 1.1120.

EUR/USD - Trade Idea

Entry Price – Buy 1.10067

Stop Loss – 1.09758

Take Profit – 1.10878

Risk to Reward – 1 : 2.6

Profit & Loss Per Standard Lot = +$811/ -$309

Profit & Loss Per Micro Lot = +$81/ -$30