Daily Price Outlook

- Price rejected descending trendline and 50 EMA zone

- RSI neutral at 49.99 with bearish crossover

- Shooting star and indecision candles flag reversal risk

USD/CAD is trading near $1.38227 after rejecting the descending trendline that has capped price action since April. The pair tested the trendline around $1.38393, posting a near-term rejection candle—a classic shooting star—followed by lower-volume indecision candlesticks (doji and spinning tops), signaling fading bullish momentum.

Price remains beneath the downward-sloping trendline and is also hovering around the 50-period EMA at $1.38177, which has flattened, reflecting a neutral to mildly bearish bias.

Sellers appear to be defending the $1.38481–$1.38393 supply zone, making it a critical short-term resistance area. Below current levels, the first major support lies at $1.37945, with further downside potential toward $1.37893 and $1.37767.

The RSI stands at 49.99, below the 50 neutral line, suggesting neither overbought nor oversold conditions, but lacking bullish conviction. No clear divergence is visible at the moment, though a bearish RSI crossover confirms weakening upward momentum.

Structurally, the pair has been carving out lower highs beneath the trendline and is at risk of resuming the broader bearish channel unless bulls retake $1.38626.

No reversal candle patterns such as three white soldiers or bullish engulfing are present, indicating the recent bounce may be corrective. The setup now favors short entries if the pair breaks below $1.38254 with follow-through, targeting $1.37893, while risk is managed above $1.38481.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.38254

Take Profit – 1.37893

Stop Loss – 1.38481

Risk to Reward – 1: 1.59

Profit & Loss Per Standard Lot = +$361/ -$227

Profit & Loss Per Mini Lot = +$36/ -$22

Daily Price Outlook

- Price holding trendline and 50 EMA confluence

- Bearish engulfing rejected resistance at $0.64788

- RSI near midline; breakout confirmation needed for bullish continuation

AUD/USD is trading just above its ascending trendline support at $0.64436, attempting to hold its recent bullish structure after forming a series of higher lows throughout early May.

The pair surged from the $0.63737 low, forming a minor ascending channel, and recently printed a bearish engulfing candle after stalling below resistance at $0.64788.

Despite that rejection, price remains supported by both the trendline and the 50-period EMA at $0.64569, with bulls defending this confluence area aggressively.

From a candlestick perspective, the current pause is characterized by a spinning top and long wicks to both sides, suggesting indecision. The RSI, currently at 43.46, shows mild bearish pressure but no divergence.

A move back above the $0.64699 pivot would tilt the structure in favor of another push higher, particularly if accompanied by a bullish engulfing or a breakout candle with volume confirmation.

Should AUD/USD hold above the $0.64436 area and break above the $0.64788 ceiling, the next major resistance lies at $0.64933, followed by $0.65151. Conversely, a break below $0.64436 would expose the pair to downside risks toward $0.64234 and $0.64193.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.64436

Take Profit – 0.64788

Stop Loss – 0.64234

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$352/ -$202

Profit & Loss Per Mini Lot = +$35/ -$20

Daily Price Outlook

- Breakout from higher low formation and bullish triangle

- Price above 50-SMA with strong momentum and pattern confirmation

- RSI suggests caution, but trend remains in buyers' control

Gold has powered through key resistance at $3,350, breaking above the 50-period SMA ($3,273.07) and pushing into a tight descending triangle structure.

Price is now testing the upper boundary of this triangle, which has consistently held since the late-April rejection near $3,449.

The recent rally began after a firm higher low formation near $3,222, confirming bullish structure within a broader ascending channel.

Candlestick momentum is strong, with a near-vertical series of bullish candles—visually resembling a short-term "three white soldiers" pattern.

This signifies aggressive buyer interest. The RSI reading at 73.79 suggests overbought conditions, but no bearish divergence is present yet. Momentum remains intact, though traders should be cautious of potential exhaustion near the $3,408 resistance.

If the breakout clears $3,409 with conviction, the next targets become $3,449 and $3,499.80. A pullback toward $3,305 would still keep the structure intact if buyers defend that level.

Below that, $3,271 and $3,222 remain deeper support. The risk-reward favors the long side for now, with bullish bias maintained above $3,350.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3350

Take Profit – 3408

Stop Loss – 3305

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$5800/ -$4500

Profit & Loss Per Mini Lot = +$580/ -$450

Daily Price Outlook

- EUR/USD rejected at trendline and 50 SMA near $1.134

- Bearish RSI structure favors downside continuation

- A break below $1.134 could trigger a move toward $1.126

The EUR/USD pair is struggling to reclaim ground above its descending trendline, trading just below the 50-period Simple Moving Average (SMA) at $1.13530.

Friday's candles printed a rejection wick near the $1.13423 resistance—right where the SMA intersects the trendline—underscoring a strong technical ceiling for now.

Price action remains capped within a bearish channel that’s been intact since the $1.14500 rejection in April.

From a structural view, the pair is forming lower highs and lower lows, preserving bearish momentum. A cluster of indecisive candles, including a spinning top and weak bullish attempt, adds weight to short bias near resistance.

The RSI sits at 46.97, slightly below neutral, with its average at 40.77—indicating a slight bearish lean but no oversold signal yet. No bullish divergence is present.

Key to the bearish outlook is the inability to sustain a close above $1.13423. A confirmed break lower from current levels could expose $1.12676 support, with further downside toward $1.12285.

However, if bulls manage a clean close above $1.13530 with strong volume, it may flip near-term sentiment and force a squeeze toward $1.13901.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.13423

Take Profit – 1.12676

Stop Loss – 1.13908

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$747/ -$485

Profit & Loss Per Mini Lot = +$74/ -$48

Daily Price Outlook

- GBP/USD remains confined within a descending channel.

- Price action shows rejection near the 50-SMA and key trendline.

- A break below $1.33082 sets the stage for a drop to $1.32589.

GBP/USD is navigating a tight descending channel, currently trading below the 50-SMA at $1.33314. Price attempted a recovery above $1.33082 but failed to sustain momentum, producing a rejection candle that hints at renewed bearish pressure.

The structure continues to reflect a lower-high and lower-low sequence—a classic downtrend in motion.

Candlestick analysis reveals an indecisive zone near the $1.33082 mark, with a spinning top followed by a bearish engulfing pattern, signaling hesitation and exhaustion from bulls.

Meanwhile, the Relative Strength Index (RSI) hovers around 45.54, below its average of 44.12, offering little indication of oversold relief or bullish divergence.

A break below $1.33082 reaffirms downside momentum, exposing immediate support at $1.32589 and secondary support at $1.32336.

On the flip side, if bulls breach $1.33364 with strong follow-through, the pair could challenge $1.33801.

However, the bearish channel and 50-SMA crossover overhead suggest that upside attempts are likely to face resistance.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.33082

Take Profit – 1.32589

Stop Loss – 1.33364

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$493/ -$282

Profit & Loss Per Mini Lot = +$49/ -$28

Daily Price Outlook

- Gold remains range-bound within a descending channel under $3,270 resistance.

- RSI divergence and failed breakouts hint at downside risk.

- Watch for confirmation before fading the rally.

Gold (XAU/USD) continues to trade within a defined descending channel, capped by a stubborn resistance band near $3,270.

The metal attempted a breakout early Friday but failed to close above the 50-period SMA at $3,269.98, aligning closely with the descending trendline—a confluence zone acting as a barrier to bullish continuation.

Candlestick behavior shows indecision, with a spinning top forming near resistance, reinforcing the need for caution.

Technically, gold printed a series of higher lows from the $3,215 zone, suggesting gradual accumulation. Yet, no higher high has confirmed a trend reversal.

The Relative Strength Index (RSI) hovers at 53.47, near-neutral territory, but diverges modestly against recent price highs—a signal that bullish momentum is fading unless a fresh catalyst emerges.

The key pivot to watch is $3,270. A sustained break above this level, particularly with a bullish engulfing candle and volume spike, could open the door to $3,300 and $3,320.

However, price remains below the SMA and trapped beneath the trendline. Until bulls reclaim the $3,270–$3,275 zone, downside risks linger. A rejection here could lead to renewed bearish pressure toward $3,215, with deeper support at $3,171.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3270

Take Profit – 3215

Stop Loss – 3300

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$5500/ -$3000

Profit & Loss Per Mini Lot = +$550/ -$300

Daily Price Outlook

- EUR/USD remains in a descending channel capped by the 50-SMA.

- RSI is rebounding but hasn’t confirmed bullish reversal.

- A break below $1.13466 could resume the downtrend toward $1.12676.

EUR/USD is trading within a well-defined descending channel, attempting a mild recovery after bottoming near $1.12676. Price is currently approaching short-term resistance near $1.13466, a level that previously acted as support.

While a small bullish impulse has developed, the pair remains below the 50-SMA at $1.13694, which continues to slope downward—reinforcing bearish pressure in the medium term.

From a candlestick perspective, the pair has not yet shown convincing bullish formations like three white soldiers, and the latest candles resemble neutral bodies rather than strong directional signals.

The RSI has turned up from oversold levels and now sits at 44.84, reflecting short-term recovery momentum. However, unless the pair clears the upper boundary of the bearish channel and sustains above the $1.13466 zone, the upside is likely to remain capped.

The broader structure still favors a continuation to the downside, especially if price fails at the current resistance and prints a bearish engulfing or another reversal signal near the 50-SMA.

A break below $1.13466 could reactivate bearish momentum toward $1.12676 and potentially $1.12285. On the flip side, a confirmed push above $1.13901 would challenge this outlook and suggest short-term trend reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.13466

Take Profit – 1.12676

Stop Loss – 1.13893

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$790/ -$427

Profit & Loss Per Mini Lot = +$79/ -$42

Daily Price Outlook

- The SPX is in a bullish rising wedge with consistent higher lows and strong support from the 50-SMA.

- RSI at 61.33 and the absence of bearish divergence suggest sustained momentum.

- A confirmed break above 5604 could lead to a target near 5781, while a drop below 5426 would signal caution.

The SPX is showing continued strength after breaking above key levels earlier this week. Recent action indicates that the index is firmly testing resistance around 5604 as it climbs from lower levels in April.

Price recently closed above the 50-SMA, which now serves as dynamic support. Although the latest candle featured a slight rejection at the upper band, it appears more like a brief pause rather than a sign of reversal.

Structurally, the index is forming a rising wedge with a series of higher lows that confirm the bullish trend. The RSI currently reads 61.33, indicating healthy momentum without yet reaching overbought levels.

Candlestick patterns, including a small spinning top, have emerged, suggesting some caution among traders—but no major bearish formations like three black crows have materialized.

The absence of significant divergence between price and RSI further supports the view that upward pressure could persist if bulls maintain their grip.

Technically, the market is looking for a break above the recent resistance at 5604. Should bulls succeed, the next target could be set at 5781, with further gains possible if momentum builds.

Conversely, if price falls back and breaches support at 5426, the index may retest lower levels around the 50-SMA as a fallback.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5571

Take Profit – 5781

Stop Loss – 5426

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$2100/ -$1450

Profit & Loss Per Mini Lot = +$210/ -$145

Daily Price Outlook

- Gold remains trapped in a bearish channel with weak bullish divergence.

- Spinning top candlestick suggests hesitation near $3,260.

- 50 EMA at $3,313 caps upside and affirms bearish control.

Gold is trading within a descending channel after failing to sustain above the $3,294.47 resistance, corresponding with the 78.6% Fibonacci retracement level from the April high to recent lows.

Price recently rebounded from the $3,202.89 low, printing a modest sequence of higher lows that hint at a short-term recovery attempt, but overall bias remains bearish unless price breaks above the channel resistance.

Technically, a spinning top formed on the latest 4H candle signals indecision after a small bullish impulse. RSI stands at 44.04, still below the 50 neutral line, reflecting sluggish momentum.

There’s also a mild bullish divergence between RSI and price lows, suggesting downside momentum may be fading—but it's not strong enough to flip sentiment without confirmation.

The 50-SMA at $3,313.58 continues to slope downward, reinforcing resistance around the $3,294 pivot. Price is currently pressing against the 38.2% Fib level at $3,247, and struggling to reclaim ground above the $3,261 midpoint. Until bulls can close decisively above $3,294, rallies may be sold.

Key support lies at $3,230, the 23.6% Fib, followed by the recent swing low at $3,202. A drop below $3,230 could invite another wave of selling, potentially forming a three black crows pattern if the next candles turn aggressively bearish.

A bearish bias holds unless price breaks and holds above $3,294 with volume.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3230

Take Profit – 3294

Stop Loss – 3197

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$6400/ -$3300

Profit & Loss Per Mini Lot = +$640/ -$330

Daily Price Outlook

- USD/JPY broke above 144.03, confirming bullish momentum.

- RSI overbought, but trend and structure favor continued upside.

- Entry above 144.03 targets 145.74 with stop at 143.01.

USD/JPY has broken out aggressively from consolidation and is now trading at 144.38, having breached a critical resistance at 144.03. Price surged from the ascending channel’s lower boundary, confirming the bullish structure, and is now approaching the midline of the rising parallel channel.

A bullish engulfing candle formed at the breakout point, supported by strong volume and follow-through, suggests further upside potential.

The 50-period SMA at 142.976 has begun sloping upward and now aligns with dynamic support. Price is trading firmly above both the 50 SMA and the channel’s median line, signaling trend continuation.

The RSI is currently at 72.82—technically overbought—but historically, during strong uptrends, it tends to hover above 70 for extended periods. No immediate divergence is visible, which further supports the bullish outlook.

Immediate resistance stands at 145.13, with further upside potential toward 146.15 and 147.15 if momentum continues.

On the downside, 144.03 is the key breakout level to watch; any retest that holds could offer a buying opportunity. Further support sits at 143.01, which aligns with the ascending trendline and SMA support.

While RSI suggests some caution, the overall structure—breakout above resistance, channel continuation, and SMA alignment—favors bulls.

A daily close above 145.13 could confirm further gains toward 146.15, completing the next leg of the ascending channel.

USD/JPY - Trade Ideas

Entry Price – Buy Above 144.033

Take Profit – 145.741

Stop Loss – 143.012

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1708/ -$1021

Profit & Loss Per Mini Lot = +$170/ -$102