Daily Price Outlook

- Immediate Resistance: 5,988.57; Next Resistances: 6,056.54, 6,103.34.

- Immediate Support: 5,877.15; Next Supports: 5,838.15, 5,809.17.

- RSI at 76 signals an overbought condition, hinting at possible consolidation, while the 50 EMA at 5,816.12 underpins the bullish trend, but caution is advised as the market nears critical resistance levels.

The S&P 500 (SPX) has seen upward momentum, currently trading at 5,973.09, marking a 0.74% gain. After breaking above the pivot level at 5,928.40, the index is approaching immediate resistance at 5,988.57.

Should SPX hold above this pivot, it could extend gains to the next resistance levels at 6,056.54 and 6,103.34, bolstered by strong bullish sentiment. However, with the Relative Strength Index (RSI) at 76, the market is in overbought territory, which raises the likelihood of a short-term pullback or consolidation phase.

On the downside, immediate support lies at 5,877.15, followed by additional support levels at 5,838.15 and 5,809.17. The 50 EMA is positioned at 5,816.12, acting as a foundational support level that aligns with a bullish trend.

Traders may view 5,988 as a critical level; failing to sustain above it could trigger selling pressure with a potential target of 5,928.40. A recommended stop-loss can be set near 6,033.14 to limit risk on short positions if the market reverses.

S&P 500 - Trade Ideas

Entry Price – Sell Below 5988

Take Profit – 5928.40

Stop Loss – 6033.14

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$596/ -$451

Profit & Loss Per Mini Lot = +$59/ -$45

Daily Price Outlook

- Immediate Resistance: $1.08558; Next Resistances: $1.08921, $1.09363.

- Immediate Support: $1.07463; Next Supports: $1.06982, $1.06471.

- RSI at 48 reflects neutral momentum, while the 50 EMA at $1.08229 serves as a resistance, supporting a cautious bearish outlook for the pair.

The EUR/USD pair is trading modestly lower at $1.07811, marking a 0.19% decline. After failing to breach the pivot level at $1.08115, the pair has found resistance, with immediate levels of concern at $1.08558 and higher at $1.08921 and $1.09363.

These levels present potential challenges for any bullish attempts, especially as the market momentum remains muted. The Relative Strength Index (RSI) sits at 48, indicating neutral sentiment, which suggests limited upward movement unless the pair breaks above these resistance points decisively.

On the downside, immediate support lies at $1.07463, with stronger support levels at $1.06982 and $1.06471, which could come into play if selling pressure intensifies. The 50 EMA, positioned at $1.08229, acts as a dynamic resistance that further validates the current bearish stance.

Given the neutral RSI and resistance from the 50 EMA, traders may find selling opportunities below $1.08112, targeting a move towards $1.07455. A stop-loss at $1.08549 could help manage risk in case of an unexpected reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.08112

Take Profit – 1.07455

Stop Loss – 1.08549

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$657/ -$437

Profit & Loss Per Mini Lot = +$65/ -$43

Daily Price Outlook

- Immediate Resistance: $2,707.64; Next Resistances: $2,725.76, $2,743.00.

- Immediate Support: $2,687.30; Next Supports: $2,673.76, $2,654.69.

- RSI at 52 reflects a neutral stance, while the 50 EMA at $2,688.07 suggests bearish pressure persists, keeping the outlook cautious on further gains.

Gold prices are trading slightly lower at $2,694.61, down 0.45% as it hovers around crucial support levels amid renewed selling pressure. With immediate support at $2,687.30, gold remains in a tentative position. A breakdown below this level could expose gold to further downside risk, with the next key support points at $2,673.76 and $2,654.69.

Conversely, on the upside, immediate resistance is noted at $2,707.64, which aligns with recent intraday highs. Any sustained move above this level could allow for a bullish run towards the next resistance zones at $2,725.76 and $2,743.00, with a more formidable barrier at $2,758.57.

The Relative Strength Index (RSI) stands at 52, indicating neutral momentum, neither overbought nor oversold, which implies room for movement in either direction. Meanwhile, the 50 EMA, currently at $2,688.07, supports the notion of a short-term bearish trend if prices remain below this level.

Traders might consider a selling entry below $2,707.64, with a target at $2,673.76 and a stop-loss set at $2,726, as market dynamics lean toward downside risk given the subdued momentum.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2707

Take Profit – 2673

Stop Loss – 2726

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$3400/ -$1900

Profit & Loss Per Mini Lot = +$340/ -$190

Daily Price Outlook

- Pivot Pressure: Key pivot at ¥155.155; a breach may shift momentum.

- Support Zones: Immediate support at ¥153.907, with next support at ¥153.415.

- RSI Neutral: RSI at 49 reflects neutral sentiment, though a decline may trigger a bearish continuation.

USD/JPY is trading slightly lower at ¥154.053, displaying a bearish bias as it approaches a critical pivot point at ¥155.155. This level will serve as a key decision point for traders, with a potential reversal or further decline hinging on whether the pair can hold or breach this mark.

The immediate resistance stands at ¥155.557, followed by the next barriers at ¥155.984. A break above these levels would indicate a reversal back to bullish sentiment. However, with current momentum skewed to the downside, resistance appears unlikely to be tested unless the pair finds a solid footing above the pivot.

On the downside, USD/JPY has immediate support at ¥153.907, a level closely aligned with the 50-day Exponential Moving Average (EMA) of ¥153.307, which reinforces the pair’s lower boundary. Should this support level fail to hold, traders may see further declines towards ¥153.415 and then ¥153.008.

The Relative Strength Index (RSI) sits at 49, indicating neutral momentum. However, a reading near 50 suggests a potential shift is forthcoming; a dip below this could strengthen bearish sentiment.

In conclusion, USD/JPY remains vulnerable to further losses below the pivot level of ¥155.155. Traders may consider short positions below ¥154.245, aiming for a target near ¥153.425 with a stop loss at ¥154.935.

USD/JPY - Trade Ideas

Entry Price – Sell Below 154.245

Take Profit – 153.425

Stop Loss – 154.935

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$820/ -$705

Profit & Loss Per Mini Lot = +$82/ -$70

Daily Price Outlook

- Immediate Resistance: AUD/USD faces resistance at $0.66612; a break above may signal further upside.

- Pivot and Support Levels: $0.66395 is a key pivot; $0.65929 serves as critical support.

- RSI Reading: With an RSI of 63, momentum is moderately strong but nearing overbought levels.

AUD/USD is showing strength, trading at $0.66208, following a rebound that lifted the pair above the crucial support level of $0.66235. The immediate resistance sits at $0.66612, and if breached, it could open the door to further gains towards $0.66849.

However, the pivot point at $0.66395 remains a critical level for traders, with the 50-day Exponential Moving Average (EMA) at $0.65940, suggesting underlying support.

Technical indicators present a mixed picture; the Relative Strength Index (RSI) is currently at 63, leaning towards overbought territory but not yet signaling a full reversal. This level indicates that buyers maintain control, though caution may be warranted as momentum could slow if resistance levels hold.

For bears, a drop below the immediate support of $0.65929 could shift the bias downward, potentially driving prices towards $0.65646 and then to the next support at $0.65471.

In the short term, the Australian dollar appears poised to extend its rally, though this optimism is fragile and reliant on maintaining levels above $0.66235. A close below the 50-day EMA at $0.65940 would signal a possible shift to bearish sentiment.

Given the current dynamics, traders may look to sell below $0.66260 with targets near $0.65933 while setting a stop loss at $0.66444.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.66260

Take Profit – 0.65933

Stop Loss – 0.66444

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$327/ -$184

Profit & Loss Per Mini Lot = +$32/ -$18

Daily Price Outlook

- Immediate Resistance: Key level at $2,670; a break above could suggest recovery.

- Immediate Support: Strong support at $2,644; a breach could prompt further losses.

- Oversold Conditions: RSI at 22 indicates potential for a short-term bounce, but trend remains bearish.

Gold prices have continued their recent descent, trading at $2,655 as of Thursday, pressured by dollar strength and shifting risk sentiment in global markets. Currently, gold is hovering above a critical support pivot at $2,644. Holding this level is essential for bulls aiming to stabilize the metal.

On the upside, immediate resistance stands at $2,670, followed by the $2,690 mark, with a more robust cap at $2,708. A break above these resistance points would be necessary to trigger any sustained bullish reversal, especially with the 50-day Exponential Moving Average (EMA) positioned significantly higher at $2,741, underscoring the current bearish trend.

If gold fails to maintain support at $2,644, traders may see increased selling pressure, with support levels potentially coming into play at $2,626 and $2,605. An extended decline could push prices toward the $2,585 zone, which would be critical for assessing whether this downtrend has more room to run.

The Relative Strength Index (RSI) sits at a low 22, firmly indicating oversold conditions and suggesting that a short-term bounce may be on the horizon. However, the overall technical landscape remains bearish, and gold's path forward is likely to depend on whether it can break above $2,670 or if support at $2,644 gives way to further downside.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2644

Take Profit – 2678

Stop Loss – 2626

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$2626/ -$1800

Profit & Loss Per Mini Lot = +$262/ -$180

Daily Price Outlook

- Entry Strategy: Sell below $2,731, with a target of $2,710 and stop loss at $2,747.

- Immediate Support: Watch for $2,710, with next supports at $2,702 and $2,693.

- Technical Indicators: RSI at 35.68 suggests selling pressure, but close to oversold territory.

Gold prices continue to face downward pressure, trading around $2,725.41 after a failed attempt to break above key resistance levels. Currently, the metal is struggling below the pivotal $2,731 level, suggesting a bearish sentiment in the short term.

Sellers seem in control, with price action slipping further below the 50-day EMA at $2,745, reinforcing the downside bias. Immediate resistance now lies at $2,731, followed by the next levels at $2,747 and $2,760.

On the support side, the first level to watch is at $2,710, with further support emerging at $2,702 and $2,693. A decisive break below $2,710 could open the door for deeper declines, especially if bearish momentum accelerates.

The Relative Strength Index (RSI) stands at 35.68, showing that gold is approaching oversold territory, but not quite there yet. This indicates that while further downside is possible, some traders might begin looking for buying opportunities if the RSI dips below 30.

The recent sell-off was triggered after prices failed to sustain above the $2,731 mark, leading to increased bearish momentum in the market.

Traders are likely eyeing a sell position below $2,731, with a target price around $2,710 and a stop loss near the resistance at $2,747. A close below $2,710 would likely confirm bearish continuation and could signal a further slide toward the $2,693 support level.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2748

Take Profit – 2730

Stop Loss – 2758

Risk to Reward – 1: 1.4

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

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

Daily Price Outlook

- Entry Strategy: Consider selling below $1.29118, targeting $1.28273, with a stop loss at $1.29526.

- Immediate Support: Key support at $1.28134; further downside risk if this level fails.

- Technical Indicators: RSI at 31 indicates potential for a minor bounce, but overall trend remains bearish.

The British pound is under pressure against the U.S. dollar, with GBP/USD dropping to $1.28510, reflecting a 1.45% decline on the day. The pair has slipped below key support levels, signaling a bearish outlook as the dollar strengthens.

The immediate support now stands at $1.28134, with further downside targets at $1.27817 if selling momentum continues. On the upside, resistance sits at $1.29125, with additional resistance levels at $1.29524 (pivot) and $1.29950. A break above these levels would be necessary to ease the bearish tone, though current indicators suggest that the pound is likely to remain under pressure in the near term.

Technical indicators paint a bearish picture, with the 50-day EMA positioned at $1.29512, well above the current price. This moving average underscores the downward trend and suggests limited upside potential for the pound unless it can reclaim levels above $1.29524.

The RSI stands at 31, edging close to oversold territory. Although this level could suggest a short-term bounce, the broader trend remains bearish, particularly as dollar strength persists.

For traders, a short position below the pivot of $1.29118 may be prudent, with a take-profit target near $1.28273 and a stop loss at $1.29526. With the pound struggling to find traction, maintaining positions below key levels aligns with current market sentiment.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29118

Take Profit – 1.28273

Stop Loss – 1.29526

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$845/ -$408

Profit & Loss Per Mini Lot = +$84/ -$40

Daily Price Outlook

- Entry Strategy: Sell below $1.07767, targeting $1.06941, with a stop loss at $1.08204.

- Immediate Support: Watch for $1.06791; a break here could lead to $1.06375.

- Technical Indicators: RSI at 24 signals oversold conditions but confirms ongoing bearish momentum.

EUR/USD has dropped to $1.07183, shedding nearly 2% as the pair struggles to find support amidst continued dollar strength. The sharp decline in the euro signals bearish momentum, with immediate support now positioned at $1.06791.

Should this level fail to hold, the next critical support zones lie at $1.06375 and potentially lower, putting additional downside pressure on the euro. The pair faces resistance at $1.07760, with further resistance levels at $1.08108 and $1.08558. A push above these levels would be needed to shift momentum back in favor of the euro.

Technical indicators confirm the bearish outlook, with the RSI hovering at an oversold level of 24, suggesting intense selling pressure. While an oversold RSI could hint at a potential short-term bounce, the broader trend remains downward. The 50-day EMA, currently at $1.08728, sits well above the current price, reinforcing the bearish bias and indicating that any upside attempt may be limited.

Given the strong dollar environment, traders might consider selling positions below the pivot point at $1.07767, with a target take-profit level around $1.06941 and a stop loss near $1.08204. If EUR/USD remains under $1.07760, sellers are likely to stay in control, pushing the pair lower towards key support levels.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.07767

Take Profit – 1.06941

Stop Loss – 1.08204

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$826/ -$437

Profit & Loss Per Mini Lot = +$82/ -$43

Daily Price Outlook

- Bullish Momentum: AUD/USD holds above pivot at $0.66189, signaling potential for further upside.

- Key Support at 50 EMA: $0.65869 acts as a floor, underpinning short-term bullish bias.

- Buy Strategy: Entry above $0.66003, aiming for $0.66300 with a stop loss at $0.65842 to manage downside risks.

The Australian dollar (AUD/USD) is trading at $0.66140, up 0.46% on the day, reflecting a cautiously optimistic sentiment as it approaches a critical pivot at $0.66189. This level is shaping up as a short-term benchmark for the pair, with technical indicators leaning towards bullish potential. The Relative Strength Index (RSI) stands at 65, suggesting some upward momentum but nearing the overbought zone, signaling possible resistance ahead.

Immediate resistance is located at $0.66332, followed by further hurdles at $0.66486. A sustained break above these levels would signal a strengthening bullish trend, setting the stage for an advance. However, the 50-day Exponential Moving Average (EMA) at $0.65869 acts as a lower boundary of support, reinforcing a bullish outlook as long as prices hold above it.

On the downside, support is established at $0.65800, with additional floors at $0.65654 and $0.65464. These levels should serve as safety nets for bullish traders, as a break below $0.65800 could expose the pair to further declines. For now, the trend remains positive, with an entry strategy above $0.66003, targeting $0.66300 while managing downside risk with a stop loss at $0.65842.

The overall picture favors a short-term buying strategy given the strength of key support levels and upward momentum indicators. Traders should watch for a breakout above immediate resistance to confirm further gains.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.66003

Take Profit – 0.66300

Stop Loss – 0.65842

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$297/ -$161

Profit & Loss Per Mini Lot = +$29/ -$16