Daily Price Outlook

- AUD/USD is trading below the key support of $0.6754, now acting as resistance.

- RSI at 33.73 indicates oversold conditions, signaling potential short-term rebounds.

- Bearish momentum could continue towards $0.6720 and beyond if selling pressure persists.

The Australian Dollar (AUD/USD) is currently trading around $0.6742, showing signs of a bearish continuation following a recent breakdown. The pair is under pressure as it trades below the key support level of $0.6754, now acting as immediate resistance. The breakdown below this level has opened the door for further declines towards the next support levels.

The pivot point for today’s session is at $0.6754, which also marks the immediate resistance. Should the pair attempt a recovery, it may find resistance at $0.6770, with the next levels of resistance at $0.6784 and $0.6793. On the downside, immediate support lies at $0.6720, followed by $0.6699 and $0.6677.

Technical indicators are pointing towards continued bearish momentum. The Relative Strength Index (RSI) is currently at 33.73, indicating oversold conditions, which could suggest a potential short-term rebound before the downtrend resumes. The 50-day Exponential Moving Average (EMA) is positioned at $0.6784, reinforcing the resistance around this level.

Given the recent price action and the technical indicators, a sell position below $0.6754 could be considered, with a take profit target at $0.6720 and a stop loss set at $0.6770 to manage risk. The breakdown below key support levels suggests that the bears are in control, and the pair could see further declines if it remains below the $0.6754 pivot point.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.67540

Take Profit – 0.67200

Stop Loss – 0.67700

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$340/ -$160

Profit & Loss Per Mini Lot = +$34/ -$16

Daily Price Outlook

- Bearish Outlook: Gold remains under pressure below the $2,504.66 pivot, with RSI at 40 indicating further downside potential.

- Resistance Levels: Immediate resistance is seen at $2,514.84, with additional targets at $2,529.23 and $2,540.41.

- Support Levels: Key support is found at $2,491.71, followed by $2,480.08 and $2,471.29.

Gold (XAU/USD) is currently trading at $2,497.50, reflecting a decline of 0.30% as it remains under pressure amidst a strengthening US Dollar.

The 4-hour chart reveals that Gold is trading just below a key pivot point at $2,504.66, which serves as a critical level for determining the near-term direction.

A break above this pivot could see the precious metal testing immediate resistance at $2,514.84, with subsequent targets at $2,529.23 and $2,540.41.

However, the technical indicators suggest a bearish bias. The Relative Strength Index (RSI) stands at 40, indicating that momentum is leaning towards the downside but is not yet in oversold territory.

Additionally, Gold is trading below its 50-day Exponential Moving Average (EMA) at $2,512.02, reinforcing the bearish outlook. Immediate support is located at $2,491.71, with further levels at $2,480.08 and $2,471.29.

Given the current technical setup, traders may consider short positions below the pivot point at $2,504.66, targeting the $2,487.00 level.

Conversely, a break above $2,505 could invalidate this bearish view, paving the way for a potential rally towards higher resistance levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2505

Take Profit – 2487

Stop Loss – 2515

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1800/ -$1000

Profit & Loss Per Mini Lot = +$180/ -$100

Daily Price Outlook

- Bearish Bias: EUR/USD is under pressure below the $1.1070 pivot, with the RSI at 42 indicating potential for further downside.

- Resistance Levels: Immediate resistance is seen at $1.1101, with additional targets at $1.1140 and $1.1189.

- Support Levels: Key support is found at $1.1034, followed by $1.1000 and $1.0969.

The EUR/USD pair is currently trading at $1.10620, experiencing a slight gain of 0.02% in early trading.

The currency pair is hovering near the pivotal level of $1.1070, which serves as a crucial point for determining the next directional move.

The 4-hour chart shows immediate resistance at $1.1101, followed by higher resistance levels at $1.1140 and $1.1189. A successful break above these levels could set the stage for further bullish momentum.

On the downside, immediate support lies at $1.1034, with additional support at $1.1000 and $1.0969.

The Relative Strength Index (RSI) is currently at 42, suggesting that the pair is leaning towards a bearish bias but is not yet in oversold territory.

This implies that there may be room for additional downside movement if the pair fails to hold above the key pivot point at $1.1070.

The 50-day Exponential Moving Average (EMA), currently positioned at $1.1109, is acting as a resistance level, reinforcing the bearish outlook.

Given the current technical setup, traders might consider selling positions below $1.10831, with a potential target near the $1.10338 level.

Conversely, a break above $1.1101 could invalidate this bearish outlook, potentially paving the way for a rally toward $1.1140 and beyond.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10831

Take Profit – 1.10338

Stop Loss – 1.11194

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$493/ -$363

Profit & Loss Per Mini Lot = +$49/ -$36

Daily Price Outlook

- Bearish Bias: GBP/USD is under pressure below the $1.3156 pivot, with the RSI at 40 indicating further downside risk.

- Resistance Levels: Immediate resistance is seen at $1.3188, with additional targets at $1.3227 and $1.3265.

- Support Levels: Key support is found at $1.3119, followed by $1.3078 and $1.3041.

The GBP/USD pair is currently trading at $1.31347, showing a slight uptick of 0.02% in early trading.

The currency pair is hovering just below the pivotal $1.3156 level, which serves as a crucial point in determining the next directional move.

The 4-hour chart indicates that the pair faces immediate resistance at $1.3188, which aligns closely with the 50-day Exponential Moving Average (EMA).

A break above this level could push the pair towards the next resistance levels at $1.3227 and $1.3265.

On the downside, GBP/USD finds immediate support at $1.3119, with further support levels at $1.3078 and $1.3041.

The Relative Strength Index (RSI) is currently at 40, signaling that the pair is leaning towards a bearish trend, but is not yet in oversold territory.

This suggests that there could be more room for downside movement if the pair fails to hold above the key pivot point at $1.3156.

Given the current technical setup, traders might consider short positions below $1.3156, with a potential target around $1.3111.

Conversely, a break above $1.3188 would likely invalidate this bearish outlook, potentially setting the stage for a rally towards the $1.3227 level and beyond.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.31556

Take Profit – 1.31111

Stop Loss – 1.31865

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$445/ -$309

Profit & Loss Per Mini Lot = +$44/ -$30

Daily Price Outlook

- S&P 500 hovers near $5,584.24 support, with RSI at 48, signaling neutral momentum.

- A breakout above $5,641.79 pivot could target $5,699.82 and $5,754.94 resistance levels.

- Failure to hold $5,584.24 support may lead to a decline towards $5,519.94 and lower.

The S&P 500 (SPX) is trading at $5,591.95, virtually flat for the day, as it navigates a critical juncture near its key support level of $5,584.24.

The index is consolidating just above the 50-day Exponential Moving Average (EMA) at $5,576.84, which provides a near-term safety net for bullish traders. The Relative Strength Index (RSI) is neutral at 48, indicating a lack of clear momentum in either direction.

The immediate pivot point at $5,641.79 serves as a crucial marker. A breakout above this level could pave the way for further gains, with immediate resistance at $5,699.82 and additional targets at $5,754.94. These levels represent key hurdles that the bulls must clear to regain control of the market's upward momentum.

On the flip side, if the S&P 500 fails to maintain its position above $5,584.24, the index could see a slide towards the immediate support at $5,519.94. Further downside targets include $5,441.61 and $5,381.03, which could come into play if selling pressure intensifies.

Traders might consider entering a long position above $5,583, targeting a profit near $5,676, with a stop loss around $5,528 to limit downside risk.

In summary, the S&P 500 is at a technical crossroads, with its next move likely dictated by how the price interacts with the $5,641.79 pivot point. Market participants should closely monitor these key levels as they could set the tone for the index's short-term direction.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5583

Take Profit – 5676

Stop Loss – 5528

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$930/ -$550

Profit & Loss Per Mini Lot = +$93/ -$55

Daily Price Outlook

- Gold consolidates near $2,512.36 with neutral RSI at 52.

- Key pivot at $2,529.23; breakout could target $2,544.34 and $2,560.54.

- Watch for a break below $2,512.36, which could drive prices towards $2,500.

Gold (XAU/USD) is currently trading at $2,519.84, down 0.07% on the day, as it hovers near the key support level of $2,512.36.

The metal remains caught in a narrow range, reflecting a lack of strong directional momentum. The Relative Strength Index (RSI) is neutral at 52, indicating that neither bulls nor bears have a clear upper hand in the short term.

Technically, Gold is positioned just above the 50-day Exponential Moving Average (EMA) at $2,515.16, providing near-term support. A critical pivot point lies at $2,529.23, which traders should closely monitor.

If the price breaks above this level, it could open the door to further gains, with immediate resistance at $2,544.34 and subsequent targets at $2,560.54.

However, failure to sustain above the pivot could lead to a retracement towards the immediate support at $2,497.03, with deeper support levels at $2,485.59 and $2,471.29.

The market’s indecision is highlighted by the tight trading range, with Gold consolidating between $2,512.36 and $2,529.23. This consolidation phase could precede a significant move.

Given the broader market context, a break above $2,529.23 could be an entry point for bullish positions, targeting $2,530 with a stop-loss just below $2,512 to manage risk effectively.

Conversely, a break below the $2,512.36 support could signal a bearish turn, potentially driving prices towards $2,500 and lower.

In summary, Gold's near-term outlook hinges on key levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2512

Take Profit – 2530

Stop Loss – 2500

Risk to Reward – 1: 5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Mini Lot = +$180/ -$120

Daily Price Outlook

- EUR/USD hovers near $1.10695 support, with RSI at 40 indicating slight bearish pressure.

- A break above $1.11005 pivot could target $1.11395 and $1.11892 resistance levels.

- Downside risks increase below $1.10695, with next support at $1.10337 and $1.09995.

The EUR/USD pair is currently trading at $1.10757, down 0.01% as it hovers just above a key support level at $1.10695. The market sentiment appears cautious, with the Relative Strength Index (RSI) at 40, signaling a slight bearish bias in the short term.

This reflects some downward pressure as the pair remains below the 50-day Exponential Moving Average (EMA) of $1.11355, indicating that the bears might still have some control.

The immediate pivot point at $1.11005 serves as a critical juncture for traders. A decisive break above this level could signal a potential recovery, with immediate resistance at $1.11395 and further targets at $1.11892.

On the downside, if the price slips below $1.10695, the next support lies at $1.10337, with additional support levels at $1.09995 and $1.09685. These levels are crucial for maintaining the current range, and a breach could open the door to more significant declines.

Given the current technical setup, traders might consider entering a long position above $1.10697, with a take profit target near $1.11188. A stop loss placed around $1.10430 could help mitigate downside risk if the support fails to hold.

Overall, EUR/USD is trading within a tight range, with the possibility of a breakout depending on how the price interacts with the $1.11005 pivot point. As the market awaits further directional cues, the pair’s movement around these key levels will be pivotal in determining the next trend.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10697

Take Profit – 1.11188

Stop Loss – 1.10430

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$491/ -$267

Profit & Loss Per Mini Lot = +$49/ -$26

Daily Price Outlook

- Neutral Bias: Trading around the 50-day EMA at 144.505, with RSI at 50 indicating balanced momentum.

- Resistance Levels: Immediate resistance at 145.303, with potential targets at 146.118 and 147.088.

- Support Levels: Key support at 143.686, with deeper levels at 142.903 and 142.119.

The USD/JPY pair is currently trading at 144.518, down by 0.06% as it flirts with the key pivot point set at 144.699.

This level will be crucial in determining the pair’s next move. The pair is trading near its 50-day Exponential Moving Average (EMA) at 144.505, which is acting as a critical support level.

The Relative Strength Index (RSI) is at a neutral 50, indicating a balanced market without a clear momentum bias at this point.

If the pair fails to hold above the 144.699 pivot point, immediate support is expected at 143.686, followed by deeper levels at 142.903 and 142.119.

A sustained drop below these support levels could intensify the bearish sentiment, potentially leading to further declines.

Traders may consider entering a short position below 144.757, targeting 143.717 as the take-profit level while placing a stop-loss at 145.276 to manage risk.

On the upside, resistance starts at 145.303, a level that needs to be breached for any bullish momentum to gain traction.

If the pair manages to break this resistance, the next targets would be 146.118 and 147.088.

USD/JPY - Trade Ideas

Entry Price – Sell Below 144.757

Take Profit – 143.717

Stop Loss – 145.276

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1040/ -$519

Profit & Loss Per Mini Lot = +$104/ -$51

Daily Price Outlook

- Bullish Bias: Gold is trading above the 50-day EMA at $2,512.41, indicating short-term strength.

- Resistance Levels: Watch for a break above $2,526.45 to target $2,544.34 and $2,560.54.

- Critical Support: A fall below $2,486.73 could shift the trend to bearish, targeting $2,471.29.

Gold (XAU/USD) is currently trading at $2,517.26, marking a 0.52% increase on the day. The precious metal is showing resilience as it hovers just above the 50-day Exponential Moving Average (EMA) of $2,512.41.

This EMA level is crucial, acting as immediate support that has kept the bullish sentiment alive. The Relative Strength Index (RSI) sits at 56, suggesting moderate buying momentum, but not yet in overbought territory.

The pivot point is set at $2,530.00, serving as the primary threshold for any substantial upward movement.

Immediate resistance is seen at $2,526.45, a key level that needs to be breached for the rally to gain further traction.

Should gold break this resistance, the next targets are $2,544.34 and $2,560.54, where the bulls could potentially extend their gains.

On the downside, the immediate support lies at $2,486.73. A breach below this level could shift the market sentiment to bearish, with further support levels at $2,471.29 and $2,455.47.

These levels are crucial for traders to watch, as a dip below $2,455.47 could signal a deeper correction.

For traders considering a position, an entry above $2,512.00 appears favorable, with a take-profit target set at $2,530.00.

A stop-loss at $2,500.00 is advisable to mitigate downside risks. Overall, while the bullish momentum seems intact, the market remains in a sensitive zone, where breaking through either resistance or support could set the next directional trend.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2512

Take Profit – 2530

Stop Loss – 2500

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1800/ -$1200

Profit & Loss Per Mini Lot = +$180/ -$120

Daily Price Outlook

- Bullish Momentum: Trading above the 50-day EMA at $0.6780, indicating short-term strength.

- Resistance Levels: Immediate resistance at $0.6831, with further targets at $0.6849 and $0.6869.

- Support Levels: Critical support lies at $0.6773, with additional support at $0.6752 and $0.6728.

The AUD/USD pair is currently trading at $0.68066, reflecting a 0.26% increase as the Australian Dollar gains traction against the U.S. Dollar.

The pair is showing a bullish bias, comfortably trading above the 50-day Exponential Moving Average (EMA) positioned at $0.6780.

This moving average serves as a key support level, indicating that buyers have control in the short term.

The pivot point for the day is set at $0.6831, which also aligns with the first level of immediate resistance. A break above this resistance could open the door for further gains, with the next resistance targets at $0.6849 and $0.6869.

The Relative Strength Index (RSI) is currently at 60, suggesting a strong but not overextended momentum. This indicates that there’s room for the AUD/USD pair to climb higher before reaching overbought conditions.

On the downside, immediate support is seen at $0.6773, just below the 50-day EMA. Should the pair drop below this level, additional support is found at $0.6752 and $0.6728.

A break below these levels would likely shift the momentum to bearish, potentially inviting further declines.

For traders considering entering the market, an entry above $0.67955 looks favorable, with a take-profit target at $0.68312.

A stop-loss at $0.67732 is recommended to limit downside risk. Overall, while the short-term outlook remains bullish, traders should keep an eye on key resistance levels and the RSI for any signs of a reversal.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.67955

Take Profit – 0.68312

Stop Loss – 0.67732

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$357/ -$223

Profit & Loss Per Mini Lot = +$35/ -$22