Daily Price Outlook

The GBP/USD pair has successfully met our primary anticipated target at 1.2310 and is exhibiting a negative bias around this level. This enhances the probability of persisting bearish momentum, potentially descending further to targets of 1.2255 and subsequently 1.2200.

The prevalent bearish channel orchestrates the anticipated downtrend, receiving consistent reinforcement from the EMA50. It's crucial to note that any inability to breach the 1.2310 level may instigate a price rebound, giving rise to a short-term bullish trend aiming to test the 1.2435 regions. For today's trading, we anticipate boundaries ranging from a support at 1.2210 to a resistance at 1.2370.

GBP/USD - Trade Idea 

Entry Price – Sell Limit 1.23489

Take Profit – 1.22529

Stop Loss – 1.24310

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$960/ -$821

Profit & Loss Per Micro Lot = +$96/ -$82

Daily Price Outlook

The EUR/USD currency pair has engaged with the upper boundary of its bearish channel and now exhibits consolidation beneath it. Notably, the EMA50 reinforces the integrity of this resistance, hinting at a continuation of the projected bearish trajectory in the foreseeable future. This movement sets its sights on the 1.0635 level, with further descent to 1.0515 should the former be breached.

The current upbeat momentum of the Stochastic oscillator may induce transient lateral movements before a reversion to a downward trend. It's imperative to acknowledge that a surpass of the 1.0705 mark would negate the anticipated decline, potentially propelling the price towards intraday highs around 1.0785 prior to any subsequent bearish endeavors. For today, the trading bracket is estimated to stretch from a foundational support at 1.0590 to a resistance cap at 1.0740.

EUR/USD - Trade Idea 

Entry Price – Buy Limit 1.06766

Take Profit – 1.07349

Stop Loss – 1.06511

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$583/ -$255

Profit & Loss Per Micro Lot = +$58/ -$25

Daily Price Outlook

The GBP/USD currency pair remains anchored around the 1.2400 mark, consistently positioning below it. The EMA50 exerts ongoing downward pressure on the price, suggesting a potential resumption of the prevailing bearish momentum, targeting the significant 1.2310 level next.

The established bearish channel affirms the longer-term bearish trajectory, aiming for objectives below the aforementioned level. It's pivotal to note that a breach of the 1.2435 threshold would pivot the pair's direction upwards intraday, potentially reaching 1.2505 before encountering further bearish challenges.

Today's trading parameters are projected to span from a support at 1.2300 to a resistance boundary at 1.2445.

GBP/USD - Trade Idea 

Entry Price – Sell Limit 1.23727

Take Profit – 1.23079

Stop Loss – 1.24257

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$648/ -$530

Profit & Loss Per Micro Lot = +$64/ -$53

Daily Price Outlook

Daily Price Outlook

The USD/JPY pair has successfully breached the 147.86 mark and established a daily close above it, enhancing the prospects for sustained bullish momentum in forthcoming sessions. We anticipate a continued upward trajectory, targeting the 149.00 level as our subsequent milestone.

Gold's value is experiencing a downward trend as it aims to revisit the previously surpassed neckline of the inverted head and shoulders pattern evident on the chart. This movement is further underscored by the stochastic nearing the oversold domain, suggesting a potential positive shift. Such an alignment could drive the anticipated bullish trajectory in the near future, primarily aiming for the $1,945.20 mark. For intraday forecasts, we retain a bullish perspective, bolstered by the price's position above the EMA50.

The bullish outlook is further corroborated by the EMA50, which underpins the price, coupled with the favorable convergence signal currently exhibited by the stochastic indicator. It is imperative to maintain a position above the 147.50 level to realize the projected targets.

However, it's crucial to note that a decline below $1,929.00 might disrupt this bullish outlook, reintroducing bearish pressures. The projected trading spectrum for today spans from a support at $1,920.00 to a resistance at $1,950.00

For today's trading dynamics, we forecast a range defined by a support at 147.60 and a resistance at 149.10, with the prevailing sentiment tilting bullish.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Buy Limit 1930

Take Profit – 1945

Stop Loss – 1920

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1500/ -$1000

Profit & Loss Per Micro Lot = +$150/ -$100

Daily Price Outlook

The USD/JPY pair demonstrates consistent movement around the 147.86 mark, encountering challenges in surpassing it. Notably, the stochastic oscillator is now exhibiting a positive convergence, potentially propelling the pair to breach the aforementioned level and aim for our subsequent target at 149.00.

The prevailing bullish channel underpins the anticipated upward trajectory, contingent upon the price's ability to remain stable above the 147.30 threshold. For today, we project a trading range between the support level of 147.00 and a resistance at 148.70.

USD/JPY - Trade Idea 

Entry Price – Buy Stop 148.000

Take Profit – 149.040

Stop Loss – 147.286

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1040/ -$714

Profit & Loss Per Micro Lot = +$104/ -$71

Daily Price Outlook

Gold's value successfully surpassed the $1,929.00 threshold, concluding yesterday above this benchmark. A meticulous analysis of the chart indicates the completion of an 'inverted head and shoulders' pattern. This pattern hints at potential upward targets exceeding the $1,945.20 level, aiming for the vicinity of $1,960.00.

Given these dynamics, we anticipate a continuation of the bullish trend in the forthcoming phase, bolstered by the EMA50 underpinning the price trajectory. However, it's worth noting that a breach below the $1,929.00 mark could curtail this anticipated ascent, casting a bearish shadow on the intraday perspective.

For today, we forecast a trading range between the support at $1,920.00 and resistance at $1,950.00.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Sell Limit 1935

Take Profit – 1925

Stop Loss – 1942

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1000/ -$700

Profit & Loss Per Micro Lot = +$100/ -$70

Daily Price Outlook

The AUD/USD pair is currently evaluating the support of its intraday bullish channel and maintaining its position above this line, indicating potential upward movement towards our anticipated target of 0.6345. This outlook is bolstered by the positive indicators from the stochastic oscillator.

The EMA50 underpins the price, adding further weight to the anticipated uptrend. This bullish perspective will hold unless the price breaks the 0.6400 level and sustains below it at the daily close. Today, we anticipate the trading range to span between a support level of 0.6390 and a resistance point of 0.6490.

AUD/USD - Trade Idea 

Entry Price – Sell Limit 0.64393

Take Profit – 0.64001

Stop Loss – 0.64671

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$392/ -$278

Profit & Loss Per Micro Lot = +$392/ -$27

Daily Price Outlook

Gold demonstrates a pronounced bullish inclination, targeting the $1,929 mark. This aligns with the prospects of persisting positive momentum, with an initial goal set at $1,945.20.

Today's forecast leans towards a bullish stance, bolstered by the price movement above the EMA50. However, this momentum might encounter intermittent lateral shifts influenced by the stochastic downturn.

Conversely, it's pivotal to acknowledge that any inability to surpass $1,929 could instigate a price regression towards the $1,913.15 territory. Today's anticipated trading span oscillates between the support at $1,920 and resistance at $1,945.20.

GOLD (XAU/USD) - Trade Idea 

Entry Price – Buy Stop 1932

Take Profit – 1942

Stop Loss – 1925

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1000/ -$700

Profit & Loss Per Micro Lot = +$100/ -$70

Daily Price Outlook

The GBP/USD pair has reaffirmed its downward trajectory, consolidating beneath the 1.2400 threshold. This strengthens the forecast for an ongoing primary bearish trend, paving the way towards our primary anticipated target of 1.2310.

The current bearish channel meticulously frames the projected downtrend, which receives consistent reinforcement from the EMA50. It's important to highlight that a breach of 1.2435 could propel the price towards challenging the crucial resistance at 1.2505 before embarking on another bearish maneuver. Today's anticipated trading parameters are set between a support of 1.2300 and resistance at 1.2450.

GBP/USD - Trade Idea 

Entry Price – Buy Limit 1.23798

Take Profit – 1.24463

Stop Loss – 1.23398

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$665/ -$400

Profit & Loss Per Micro Lot = +$66/ -$40

Daily Price Outlook

The EUR/USD pair is currently exhibiting a sideways movement, gravitating around the 1.0660 mark. It's noteworthy that the stochastic indicator shows waning positive momentum, transitioning into a negative overlap. This could potentially serve as a catalyst for the price to reinforce its bearish trajectory, targeting a break below 1.0635, which would further signal a descent towards the 1.0515 zone.

Consequently, our prevailing forecast leans towards a bearish outlook, underpinned by the downward pressure exerted by the EMA50. It's essential to underscore that a breach above 1.0685 might pivot the price towards an upward journey, aiming to touch 1.0725 and potentially stretching up to 1.0785 before considering any subsequent decline. The day's anticipated trading corridor is delineated between the support at 1.0570 and resistance at 1.0725, with the predominant sentiment for the day being bearish.

EUR/USD - Trade Idea 

Entry Price – Sell Limit 1.06866

Take Profit – 1.06332

Stop Loss – 1.07158

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$534/ -$292

Profit & Loss Per Micro Lot = +$53/ -$29