Daily Price Outlook

- Price action shows a bullish engulfing and higher lows above trendline support.

- RSI at 55.86 indicates neutral-bullish momentum without overextension.

- Watch for a break above $3,352 to confirm bullish continuation toward $3,371.

Gold remains in a broad consolidation phase but is showing early signs of bullish intent. After bouncing near $3,307 support, the price now trades above the 50 SMA ($3,306.41), with $3,319 acting as a key intraday pivot.

The recovery is supported by a series of higher lows and a short-term ascending trendline drawn from the April 23 low near $3,272. This structure reinforces the bullish bias unless $3,273 is breached.

Candlestick analysis reveals a recent bullish engulfing candle followed by a small-bodied Doji near support, suggesting indecision fading in favor of buyers.

Momentum picked up again after this pattern, as the RSI turned higher from midline (now at 55.86), hinting at renewed strength without yet being overbought.

The $3,352 area has acted as a strong intraday resistance, rejecting advances twice. A clear breakout above this level would expose the $3,371 zone, which coincides with the top of a horizontal price channel that’s defined the trading range since mid-April.

Beyond that, $3,387 stands as the next upside target. On the downside, $3,306 remains the first technical floor, followed by $3,273 and $3,246.

The 50 SMA crossover above the price earlier last week suggested short-term bearishness, but the current recovery above that level negates the prior signal.

No bearish divergence is visible on the RSI, and volume has slightly increased on green candles, giving additional weight to bullish momentum.

If gold breaks and sustains above $3,352, the three white soldiers pattern from last week could extend, signaling trend continuation.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3307

Take Profit – 3371

Stop Loss – 3273

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$6400/ -$3400

Profit & Loss Per Mini Lot = +$640/ -$340

Daily Price Outlook

- Bearish engulfing candle near triangle top suggests seller strength.

- RSI at 40.45 confirms downside pressure without reversal signals.

- Break below $1.38452 may lead to sharp drop toward $1.37828.

USD/CAD is coiling within a symmetrical triangle pattern, showing reduced volatility as price action compresses between converging trendlines.

The pair is currently trading just below the $1.38452 pivot, with downside momentum building after a clear rejection at the triangle’s upper boundary near $1.38921.

A break below $1.38452 activates a short setup targeting $1.37828, with a stop placed above the triangle’s top near $1.38792.

Structure-wise, the pair has formed a series of lower highs since April 15, while support around $1.37973 and $1.37621 continues to attract bids — setting the stage for a breakout resolution.

The 50 SMA at $1.38592 is trending flat, reflecting consolidation rather than directional bias. However, current price action below this level, along with the recent engulfing candle, suggests bearish momentum may be brewing.

The Relative Strength Index (RSI) sits at 40.45, pointing downward and nearing oversold territory — but not yet offering divergence or reversal signals.

Should price push below the triangle's ascending trendline near $1.37973, it would likely open the door to deeper losses toward $1.37621 and potentially $1.37226. On the flip side, if bulls defend $1.38200 and reclaim $1.38592, we could see another test of $1.38921 and beyond.

Until a clean break occurs, traders should expect choppy price action within the triangle. The bias slightly favors bears as long as price remains below $1.38452.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.38452

Take Profit – 1.37828

Stop Loss – 1.38792

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$624/ -$340

Profit & Loss Per Mini Lot = +$62/ -$34

Daily Price Outlook

- Bullish structure supported by higher lows and rising trendline.

- RSI near 59 signals healthy momentum without overbought pressure.

- A breakout above $0.64350 may trigger a rally to $0.64501.

AUD/USD continues to consolidate within a well-defined horizontal channel, supported by an ascending trendline that’s held since April 24.

Price recently bounced off the $0.6400 handle and is now hovering above the key intraday pivot at $0.64151 — the proposed entry level. Buyers will need a firm break and close above $0.64350 to target the next resistance at $0.64501, followed by $0.64691.

On the downside, immediate support rests at $0.64020 (50 SMA), with $0.63955 and $0.63707 acting as deeper structural floors. Candlestick action near support shows a bullish rejection wick followed by a minor engulfing candle, signaling a shift in short-term momentum back to the upside.

The Relative Strength Index (RSI) is currently at 58.79, staying comfortably above midline without being overbought. No bearish divergence is present, suggesting momentum could favor a continuation move higher.

Price structure also shows higher lows since April 23, aligning with the ascending trendline — a classic early bull trend formation.

There’s a minor supply zone between $0.64300 and $0.64450, and price has tested it twice, forming short wicks to the upside — watch for a clean breakout here before scaling in aggressively. The 50 SMA at $0.64020 is now sloping upward, adding confluence to the bullish thesis.

If buyers hold above $0.64151, this structure suggests another attempt toward $0.64501 is likely — but patience is key as resistance remains sticky.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.64151

Take Profit – 0.64501

Stop Loss – 0.63955

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$350/ -$196

Profit & Loss Per Mini Lot = +$35/ -$19

Daily Price Outlook

- GBP/USD breaks out from triangle pattern above $1.3306, targeting $1.3348.

- RSI above 50 signals emerging bullish strength; 50 EMA flattens upward.

- Candlestick confirmation with bullish engulfing pattern supports bullish continuation.

The GBP/USD pair is displaying early signs of bullish momentum after breaking above a key symmetrical triangle pattern.

The entry trigger near $1.3306 aligns with the breakout of a consolidation structure, suggesting a measured move toward the $1.3348 resistance zone. A bullish breakout from the triangle is often indicative of renewed trend continuation.

Technically, the 50-period EMA, currently at $1.3307, is flattening and attempting to turn higher, providing dynamic support beneath current prices.

The RSI reading at 54.10, edging above the 50 midline, confirms a strengthening bias without approaching overbought levels, leaving room for further upside.

Candle structures around the breakout reveal a mild bullish engulfing pattern followed by a spinning top, reflecting healthy consolidation post-breakout without signs of exhaustion.

No bearish divergence is detected on the RSI, reinforcing the likelihood of continued gains if immediate resistance is breached.

A move above $1.3348 could trigger additional buying, possibly exposing $1.3385 next. Conversely, failure to sustain above the breakout could see a pullback toward $1.3277, which remains key short-term support.

Pattern traders will note the “ABCD harmonic pattern” formation within the broader triangle structure, reinforcing the measured move thesis toward higher resistance levels.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33060

Take Profit – 1.33478

Stop Loss – 1.32774

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$418/ -$286

Profit & Loss Per Mini Lot = +$41/ -$28

Daily Price Outlook

- Gold struggles beneath $3,331, forming a bearish triangle with spinning tops and bearish engulfing patterns.

- RSI remains neutral-bearish at 46.66, lacking bullish divergence confirmation.

- Break above $3,331 needed for bulls; failure could expose $3,233 downside targets.

Gold prices continue to consolidate within a defined descending triangle, a bearish continuation pattern, while maintaining higher low formations near $3,268. A descending trendline caps upside momentum, with sellers firmly defending the $3,331 zone.

Recent candlestick action has produced multiple spinning tops and a bearish engulfing near resistance — a sign of prevailing indecision giving way to downside pressure.

The RSI is hovering at 46.66, recovering modestly from oversold territory but still below the midline, indicating weak bullish momentum.

Notably, there is no significant bullish divergence, suggesting buyers lack strong conviction. Price remains compressed below the 50-EMA ($3,316), which is sloping downward — a bearish signal.

The broader structure still favors sellers unless $3,331 is decisively broken. Failure to break above the triangle resistance could invite renewed pressure toward $3,268, and if breached, $3,233 support may come into play. A break above $3,331 would negate the bearish setup and expose $3,371 as the next major resistance.

The market also shows hints of a broader bear flag developing on higher timeframes, raising the stakes for upcoming sessions.

Traders should monitor for Doji or shooting star confirmations near resistance to validate short entries, while three white soldiers around $3,268 could signal a trend reversal.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3267

Take Profit – 3331

Stop Loss – 3233

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$6400/ -$3400

Profit & Loss Per Mini Lot = +$640/ -$340

Daily Price Outlook

- EUR/USD reclaims 50-EMA at $1.1362, supported by bullish engulfing candlesticks.

- RSI trends above 50, signaling a mild bullish bias without overbought conditions.

- Break above $1.1406 critical to extend rally toward $1.1442.

The EUR/USD pair is attempting a recovery after defending support at $1.1331. Prices are now pushing against the $1.1362 pivot zone, aided by a modest bullish crossover where the price reclaims the 50-EMA ($1.1362).

A clean hourly close above this level opens the path toward $1.1406, with bulls eyeing the higher range.

Candlestick behavior reveals a series of small-bodied candles followed by a bullish engulfing pattern near the pivot, suggesting strengthening momentum.

The RSI reading at 55.98, slightly above the neutral 50 level, indicates a growing bullish bias without being overbought, offering room for further upside.

There is no visible bearish divergence at this stage, reinforcing the upward momentum. Higher lows from the $1.1316 region further validate the emerging bullish structure.

However, $1.1406 remains a key resistance that needs a decisive break for continuation; failure here could trigger profit-taking.

In a broader context, the pattern resembles an ascending triangle, typically a bullish formation, and a break above the horizontal barrier could spark a measured move towards $1.1442.

Traders should monitor for three white soldiers formation or successive bullish candles confirming the breakout strength.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13625

Take Profit – 1.14061

Stop Loss – 1.13311

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$436/ -$314

Profit & Loss Per Mini Lot = +$43/ -$31

Daily Price Outlook

- Bullish harmonic pattern completes near $1.13085 with wedge support.

- RSI climbing from oversold; price nearing 50 EMA.

- Confirmation above $1.13092 opens path to $1.13588 and $1.13962.

The EUR/USD is currently testing the lower boundary of a descending wedge, reinforced by a bullish harmonic pattern (likely a bullish Gartley) forming at point D near $1.13085.

Price action has been contained within the wedge since April 19, and recent support at $1.1309 marks a potential reversal zone. A bullish bias emerges if the pair breaks decisively above $1.13092.

Candle structure supports this view, with buyers repeatedly defending the 1.1300 zone. A clean break above the wedge resistance could push prices toward the 50-hour SMA at $1.13596, followed by the next key level at $1.13962.

The 50 SMA continues to slope downward but is flattening—an early sign of potential crossover reversal if bullish momentum accelerates.

The Relative Strength Index (RSI) is printing 39.03, rising from oversold territory. While no bullish divergence is confirmed yet, the oscillator’s uptick indicates waning bearish momentum. Additionally, the recent hammer and spinning top near support add to bullish reversal cues.

A failure to hold above $1.13085 may invalidate the bullish setup, exposing the pair to deeper losses toward $1.12788 and ultimately $1.12666.

However, the harmonic completion and wedge compression suggest an imminent volatility breakout, favoring bullish scenarios if volume confirms.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13092

Take Profit – 1.13588

Stop Loss – 1.12788

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$496/ -$304

Profit & Loss Per Mini Lot = +$49/ -$30

Daily Price Outlook

- Gold forms a descending triangle with a bearish engulfing candle near $3,342.

- RSI divergence and 50-EMA rejection confirm downside momentum.

- Break below $3,316 could accelerate losses toward $3,260 and $3,228.

Gold prices are under pressure as they flirt with a critical breakdown below the $3,316 support zone, following a textbook lower high rejection around $3,342.

The market is tracing a descending triangle, defined by falling highs and a flat base near $3,314, reinforcing bearish sentiment. The 50-period EMA at $3,367 has turned decisively downward, acting as dynamic resistance, and capping intraday rallies.

A sequence of spinning tops and Doji candles formed along the descending trendline—most recently at $3,342—signals market indecision and exhaustion of buying momentum.

Notably, the failure to breach this zone confirms the pattern of lower highs, supported by a short-lived three white soldiers pattern that reversed into a bearish engulfing candle.

Adding weight to the bearish case is the RSI, which currently sits at 42.41. A clear bearish divergence emerged earlier this week, as prices posted higher highs while RSI made lower highs—often a prelude to deeper pullbacks. A crossover below the 50-level confirms the shift toward downside momentum.

If gold breaks below $3,316 on strong volume, it may open the path to $3,260 and possibly $3,228. Key trendline support drawn from the April 10 low coincides with this confluence zone, making it the next battleground for bulls.

However, a sharp move above $3,357 would invalidate the short setup and could pave the way for a retest of $3,386.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3316

Take Profit – 3259

Stop Loss – 3357

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$5700/ -$410

Profit & Loss Per Mini Lot = +$570/ -$410

Daily Price Outlook

- Bullish engulfing candle breaks descending trendline near $5,455.

- RSI momentum confirms strength, with no immediate divergence.

- Price targets $5,670 if $5,453 support holds.

The S&P 500 has broken out above a long-standing descending trendline resistance near 5,455, confirming a bullish breakout from a falling wedge pattern. Price action shows a convincing close above the 50-period SMA, now at 5,325, signaling a shift in short-term momentum.

This technical milestone is reinforced by a higher low structure and a fresh bullish engulfing candle that cleared a week-long consolidation range.

RSI stands at 66.25, approaching overbought territory but not yet flashing divergence. This RSI level—paired with the MACD signal line crossing above zero (not shown)—supports the case for further upside.

Momentum has been building gradually since the reversal from 5,102, marked by three white soldiers near the April 19–22 lows—an optimistic reversal signal rarely seen in isolation.

The breakout candle itself is a strong-bodied bullish candle, closing well above resistance without significant upper wicks—often a sign that buyers are confident and in control. If price holds above 5,455, we expect the rally to extend toward 5,579 and eventually test the key resistance at $5,670.

However, a failed retest below 5,453 would invalidate the breakout and expose the index to downside risk back toward the 5,325 support level. In this case, bulls will want to see a defense of the rising trendline from the April lows.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5453

Take Profit – 5670

Stop Loss – 5353

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$2170/ -$1000

Profit & Loss Per Mini Lot = +$217/ -$100

Daily Price Outlook

- Trendline Holding: Price defends rising trendline; buyers may be stepping in at 0.6349.

- Neutral RSI: At 42.45, there's room for a bounce but no strong signal yet.

- Key Resistance: 50-SMA and 0.6395 remain critical for further upside.

AUD/USD is showing signs of stabilizing after defending the ascending trendline support near 0.6349. The price has bounced off this level multiple times and is attempting to hold above it once again, forming a potential higher low. The bullish setup remains valid if the pair sustains above 0.6349.

The 50-period SMA at 0.6393 still acts as immediate dynamic resistance. A break above this level would clear the way toward the 0.6435 resistance. On the downside, any sustained move below 0.6321 would invalidate the bullish outlook and suggest a deeper correction.

The RSI sits at 42.45 — slightly bearish but curling upward, hinting at early recovery momentum. A close above 0.6395 would confirm short-term bullish strength, while failure to reclaim the 50-SMA could lead to range-bound trading.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.63491

Take Profit – 0.63945

Stop Loss – 0.63215

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$454/ -$276

Profit & Loss Per Mini Lot = +$45/ -$27