Daily Price Outlook

    * EURUSD broke 1.1000 level, indicating a bullish trend towards 1.1075 and possible gains up to 1.1150.

    * The price is expected to rise in the short term, but a break below 1.1000 could result in a test of the 1.0945 level.

    * Today's trading range is expected to be between 1.0960 support and 1.1120 resistance.

The EURUSD pair rose and broke through the 1.1000 level, settling above it. This strengthens the possibility of continuing the bullish trend in the upcoming sessions and heading towards the first positive target of 1.1075. Breaking this level will result in additional gains that could reach 1.1150.

As a result, the price is expected to rise more in the intraday and short term, with positive momentum helping to achieve the suggested targets. However, if the 1.1000 level is broken, it could halt the current rise and cause the price to test the 1.0945 level again.

The trading range for today is expected to be between support at 1.0960 and resistance at 1.1120.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.10144

Stop Loss – 1.09829

Take Profit – 1.10664

Risk to Reward – 1 : 3.5

Profit & Loss Per Standard Lot = +$520/ -$315

Profit & Loss Per Micro Lot = +$52/ -$31

Daily Price Outlook

    * Bitcoin is attempting to recover losses at $27,660, but faces strong resistance at $28,800 and $29,000 levels.

    * Bitcoin has formed a base and is now recovering above the $28,000 resistance level, indicating a short-term bullish trend.

    * A bullish trend line is forming with support near $28,200, while the $29,000 level represents a significant resistance level. The next major resistance levels are at $29,080 and $29,500.

The Bitcoin price is currently trying to recoup its recent losses at $27,660. The $28,800 and $29,000 levels, however, have become formidable obstacles. Bitcoin has formed a bottom and is now recovering above the $28,000 resistance level, signalling the beginning of a short-term positive trend.

Bitcoin's price was stopped in its tracks by strong opposition from the bulls at $28,800 and the 100 hourly Simple Moving Average (SMA). The dramatic decline in Bitcoin's value from the $29,975 swing high to the $27,665 low was also rejected close to the 50% Fib retracement level.

It has dropped below the 100 hourly simple moving average and the $28,800 mark.

On the hourly chart, however, a bullish trend line is forming with support near $28,200. The $28,800 level represents near-term resistance, with the $29,000 and $29,080 zones representing the following big resistance levels. If Bitcoin's price breaks above the $29,000 resistance mark, it may continue rising towards the $29,500 level.

The price may start falling again if it is unable to break through the $28,800 barrier level. On the downside, $28,200 and the trend line provide initial support, while $27,660, or the recent swing low, provides further cushion.

There is support at $27,200, and if the price keeps falling, it might drop as low as $26,500.

BTC/USD - Trade Idea

Entry Price – Sell 28750

Stop Loss – 29000

Take Profit – 27800

Risk to Reward – 1 : 3

Profit & Loss Per Standard Lot = +$950/ -$250

Profit & Loss Per Micro Lot = +$95/ -$25

Daily Price Outlook

    * GBPUSD trading with slight bullish bias around 1.2500, gaining key support at 1.2480 level.

    * Potential to target next resistance at 1.2525, with a possible aim for 1.2560 after crossing above 50-day EMA.

    * If trend slips below 1.2480, may drop further to 1.2450 or 1.2435 level.

The GBPUSD currency pair is trading with a slight bullish bias around the 1.2500 level. The currency pair has gained key support around the 1.2480 level, and after closing candles above this particular support level, which was extended by a helpful trend line, the GBPUSD pair now has potential on the upside.

The GBPUSD pair has the potential to target the next resistance level of 1.2525, and upon crossing above this particular level, which is extended by the 50-day exponential moving average, the trend may aim for the next target level of 1.2560.

Alternatively, if the trend slips below the 1.2480 level, it may drop further until reaching the 1.2450 or 1.2435 level.

GBP/USD - Trade Idea

Entry Price – Buy Above 1.24836

Stop Loss – 1.24517

Take Profit – 1.25593

Risk to Reward – 1 : 2.5

Profit & Loss Per Standard Lot = +$757/ -$319

Profit & Loss Per Micro Lot = +$75/ -$31

Daily Price Outlook

    * Gold is trading around $1980 with potential to reach $1986 resistance, as it enters an oversold territory in the one-hour timeframe.

    * A bullish break above $1986 may lead to a target of $1989 (38.2% Fibonacci retracement), with a further break possibly reaching $1996.

    * If selling bias dominates, gold may drop below $1979 and potentially fall to $1975 or further down, with a recommended stop-loss below $1975.

Currently, the precious metal gold is trading around $1980, with the potential to target the next resistance level at $1986. Examining the one-hour timeframe, gold has entered a bearish zone and is now in the oversold territory, indicating that buyers may be entering the market.

They are likely to aim for a 23.6% Fibonacci retracement at $1986. A bullish break above $1986 could lead gold price towards the next target of $1989, a level extended by the 38.2% Fibonacci retracement. An additional break above $1989 may expose gold prices towards $1996.

On the other hand, if selling bias dominates, gold may drop below $1979, with the potential to fall to $1975 or even further down. However, it is recommended to place a stop-loss below the $1975 level.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above $1980

Stop Loss – $1975

Take Profit – $1995

Risk to Reward – 1 : 3

Profit & Loss Per Standard Lot = +$1500/ -$500

Profit & Loss Per Micro Lot = +$150/ -$50

Daily Price Outlook

    * The AUD/USD has seen a significant surge as the cash rate target increased by 25 basis points to 3.85%, and the rate paid on Exchange Settlement balances rose to 3.75%.

    * From a technical standpoint, the AUD/USD currency pair has broken through the 0.6664 resistance level, with the next target set at 0.6760, while a downward trendline provides support around 0.6705.

    * The AUD/USD may experience a bearish correction until it reaches 0.6664; a close above this level signals an opportunity to open a long position, with stop-loss at 0.6620 and upside targets at 0.6760 or 0.6795.

The AUD/USD has experienced a significant surge, as the Board decided to raise the cash rate target by 25 basis points to 3.85 percent today. The rate paid on Exchange Settlement balances also increased by 25 basis points, reaching 3.75 percent.

Although inflation in Australia has surpassed its peak, it currently stands at 7 percent, which is still considerably high. It will take some time before inflation returns to the target range.

From a technical perspective, examining the four-hour timeframe, the AUD/USD currency pair has formed a significant bullish engulfing candle, breaking through the 0.6664 resistance level and now targeting the next level at 0.6760.

Simultaneously, a downward trendline is providing major support around the 0.6705 level. As a result, the AUD/USD may experience a bearish correction until it reaches 0.6664.

Closing above this level would signal an opportunity to open a long position in AUD/USD. Prior to that, a stop-loss should be placed around the 0.6620 level, while the upside targets could be around 0.6760 or 0.6795.

AUD/USD - Trade Idea

Entry Price – Buy Above 0.66751

Stop Loss – 0.66137

Take Profit – 0.67956

Risk to Reward – 1 : 2.5

Profit & Loss Per Standard Lot = +$1,200/ -$614

Profit & Loss Per Micro Lot = +$120/ -$61

Daily Price Outlook

    * The GBPUSD pair has witnessed a strong upward rally, surpassing the target of 1.2550, and aims for further increases with the next primary target at 1.2650.

    * The EMA50 supports the price, promoting further gains, although temporary sideways movement may occur due to the stochastic indicator's negative impact.

    * The bullish trend is expected to continue, with a break below 1.2550 potentially causing intraday bearish pressure before resuming the upward trajectory; today's trading range is between 1.2490 support and 1.2650 resistance.

The GBPUSD pair has experienced a strong upward rally, surpassing the anticipated target of 1.2550 and settling above it, paving the way for further increases on an intraday and short-term basis.

The next primary target is 1.2650. The EMA50 supports the price from below, enhancing the likelihood of further gains in upcoming sessions.

However, some temporary sideways movement may occur due to the negative impact of the stochastic indicator, as the price awaits positive momentum to reach new targets.

Consequently, we expect the bullish trend to continue for the upcoming period, noting that a break below 1.2550 could subject the price to intraday bearish pressure before resuming its upward trajectory.

Today's expected trading range is between 1.2490 support and 1.2650 resistance.

GBP/USD - Trade Idea

Entry Price – Buy Above $1985

Stop Loss – 1.26190

Take Profit – 1.25010

Risk to Reward – 1 : 2.2

Profit & Loss Per Standard Lot = +$815/ -$365

Profit & Loss Per Micro Lot = +$81/ -$36

Daily Price Outlook

    * The EUR/USD pair exhibits increased negativity today, moving away from the bullish channel's broken support and targeting a decline with 1.0945 as the next primary target.

    * The 1.0945 level represents a 23.6% Fibonacci correction, and breaking below it would extend the bearish wave to reach 1.0862 as the next target.

    * A bearish bias is expected today, influenced by the negative signal from the stochastic indicator, with a trading range between 1.0910 support and 1.1075 resistance.

The EUR/USD pair starts today with increased negativity, distancing itself from the broken support of the bullish channel and aiming for a decline in the upcoming sessions, with the next primary target at 1.0945.

It is important to note that this level represents a 23.6% Fibonacci correction for the rise measured from 1.0517 to 1.1075. A break below this level would extend the bearish wave to reach 1.0862 as the next primary target. As a result, a bearish bias is expected for today, driven by the negative signal provided by the stochastic indicator.

Breaking 1.1000 will facilitate the decline towards the aforementioned target, while breaching 1.1025 serves as the key to re-enter the bullish channel and regain the primary bullish trend. Today's expected trading range is between 1.0910 support and 1.1075 resistance.

EUR/USD - Trade Idea

Entry Price – Sell 1.10095

Stop Loss – 1.10302

Take Profit – 1.09646

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$449/ -$207

Profit & Loss Per Micro Lot = +$44/ -$20

Daily Price Outlook

    * Labor Day holiday leads to low trading volume and liquidity as banks and financial institutions are closed.

    * Precious metal market struggles to break above $1985 resistance; strong bearish bias due to technical indicators.

    * Today's trading strategy: short positions below $1985, targeting $1976, with a stop-loss above $1990.

Good morning everyone, and welcome back. This week starts with a national holiday, Labor Day, resulting in the closure of most banking sectors and financial institutions today. Consequently, trading volume and liquidity are expected to remain low.

Examining the technical side of the precious metal market, it is struggling to break above the $1985 resistance level. This resistance is reinforced by the 50-day exponential moving average, and the formation of two bearish shooting star candles below the $1985 level suggests a strong bearish bias. On the downside, gold is likely to find support around the $1980 level, and a decisive break below this level could trigger further selling towards $1976.

Looking at key technical indicators such as MACD and RSI, both are exhibiting bearish momentum, as they reside in the sell zone below 50 and zero, respectively. This suggests that selling pressure may dominate the market today.

With this in mind, today's trading strategy is to look for short positions below $1985, targeting $1976, with a stop-loss set above $1990.

Gold (XAU/USD) Trade Idea

Entry Price – Buy Above $1985

Stop Loss – $1990

Take Profit – $1975

Risk to Reward – 1 : 2

Profit & Loss Per Standard Lot = +$1000/ -$500

Profit & Loss Per Micro Lot = +$100/ -$50

Daily Price Outlook

    * Gold is trading around $1,986, facing resistance at $1,990 and support around $1,984, with mixed investor sentiment as the RSI suggests buying, while the MACD indicates selling.

    * Traders are advised to wait for solid support or resistance levels before taking any buying or selling positions, as gold is trading within a range.

    * Potential trading strategies include placing a buy limit around $1,974 or a sell limit below $2,011, capturing quick selling opportunities below $1,990, and considering buying positions if gold holds above $1,974.

The precious metal gold is currently trading around the $1,986 level, facing immediate resistance at $1,990, reinforced by the 50-day exponential moving average (EMA). At the same time, gold is finding significant support around $1,984. There is mixed sentiment among investors regarding the direction of the trade.

For instance, the RSI is in the buying zone, while the MACD is in the selling zone. Additionally, the 50-day EMA signals an upward trend, while the lower trendline supports gold around the $1,983 level.

Gold is trading between the upper and lower range, making it prudent to wait for the price to reach a solid support or resistance level before taking any buying or selling positions. Traders can place a buy limit around the $1,974 level or a sell limit below $2,011.

For capturing a quick selling opportunity, one can sell below the $1,990 level, targeting $1,975. Simultaneously, a buying position can be taken if gold manages to hold above the $1,974 level.

GOLD(XAU/USD) – Trade Ideas

Entry Price – Sell Below $1990

Stop Loss – $1995

Take Profit – $1975

Risk to Reward – 1 : 3

Profit & Loss Per Standard Lot = +$1500/ -$500

Profit & Loss Per Micro Lot = +$150/ -$50

Daily Price Outlook

    * The GBP/USD currency pair displays a slight bullish bias and faces major resistance at the 1.2505 level, reinforced by a triple top pattern on the four-hourly timeframe.

    * Technical indicators, including RSI and MACD, suggest a buying trend, with the 50-day EMA supporting an upward move in GBP.

    * The GBP/USD pair has formed an ascending triangle pattern, indicating a potential bullish breakout; the strategy is to buy above 1.2445 support and target 1.2550 resistance, or target 1.2399 if it breaks below 1.2445.

On Friday, the GBP/USD currency pair is trading with a slight bullish bias around the 1.2487 level. At the moment, it is facing major resistance at the 1.2505 level, which is evident on the four-hourly timeframe. This particular resistance level is reinforced by a triple top pattern on the same timeframe.

Examining the technical indicators, the RSI and MACD are situated in the buying zone, and the 50-day exponential moving average (EMA) also suggests a buying trend. The EMA is holding around the 1.2470 level, and the closing of candles above this particular EMA line supports an upward move in GBP.

Upon zooming out on the four-hourly timeframe, the GBP/USD currency pair has formed an ascending triangle pattern, which typically has a tendency to break out on the bullish side. Therefore, today's strategy is to look for a buying position above a support level of 1.2445. A bullish break above the 1.2505 resistance level could push sterling towards the next resistance level of 1.2550. Alternatively, if GBP breaks below 1.2445, it has the potential to target the 1.2399 level.

GBP/USD – Trade Ideas

Entry Price – Buy Limit 1.2444

Stop Loss – 1.2384

Take Profit – 1.2550

Risk to Reward – 1 : 1.7

Profit & Loss Per Standard Lot = +$1,050/ -$600

Profit & Loss Per Micro Lot = +$105/ -$60