Daily Price Outlook

The EUR/USD pair is exhibiting fluctuations near the 1.0880 level, while also making attempts to consolidate below it. Notably, the stochastic indicator is experiencing a decline in its positive momentum, approaching the overbought zones. Meanwhile, the EMA50 is exerting downward pressure on the price.

As a result, we hold the view that the likelihood of a resumption in the anticipated bearish trend remains valid for the upcoming period. The subsequent significant target lies at 1.0785. It's worth considering that a breach of the 1.0880 level could initiate recovery efforts, aiming for testing the 1.0955 mark before a clear trend direction becomes evident.

The trading range expected for today spans between the support at 1.0790 and the resistance at 1.0950.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.08811

Take Profit – 1.08460

Stop Loss – 1.08992

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$351/ -$181

Profit & Loss Per Micro Lot = +$35/ -$18

Daily Price Outlook

The gold price continued its downward movement in the previous session, reaching the level of $1885.00. This reinforces the prevailing outlook of a persistent bearish trend, with the subsequent target positioned at $1873.50.

The ongoing bearish wave remains well-defined within a structured bearish channel, consistently upheld by the EMA50. It's noteworthy that a breach above the $1900.00 level would prompt a test of the significant resistance at $1913.15, preceding any potential renewed decline.

Anticipated trading activity for the present day is projected to fluctuate within the range of support at $1873.50 and resistance at $1905.00.

GOLD(XAU/USD) - Trade Idea

Entry Price – Sell Below 1894

Take Profit – 1877

Stop Loss – 1904

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$1700/ -$1000

Profit & Loss Per Micro Lot = +$170/ -$100

Daily Price Outlook

The GBP/USD pair has successfully breached the resistance line of the bearish channel and established itself above it, signaling an attempt to achieve intraday gains. However, it's noteworthy that the stochastic indicator has shifted from positive momentum to a negative overlap, indicating the potential for a resumption of the corrective bearish trend. This trend is directed towards the 1.2625 region as the next key target.

As a result, it is anticipated that the upcoming trading sessions may witness downward movement. To facilitate progress towards the aforementioned target, a breakthrough of the 1.2725 level is crucial. Conversely, surpassing the 1.2825 threshold would halt the negative projection and prompt a reversal towards higher levels.

The projected trading range for today is expected to be positioned between the support at 1.2660 and the resistance at 1.2825.

GBP/USD - Trade Idea

Entry Price – Sell Below 0.64343

Take Profit – 0.63331

Stop Loss – 0.65008

Risk to Reward – 1: 1.50

Profit & Loss Per Standard Lot = +$1012/ -$665

Profit & Loss Per Micro Lot = +$101/ -$66

Daily Price Outlook

The EUR/USD pair is currently hovering around the 1.0880 mark, and its recent closure beneath this level sustains the bearish outlook for the foreseeable future. The subsequent target is set at 1.0785.

The influence of the EMA50 remains bearish, exerting downward pressure on the price and reinforcing the projected downtrend. This assessment is further supported by the presence of a double top pattern on the chart. It's noteworthy that a solid consolidation above 1.0880 would negate the negative scenario and potentially initiate a recovery phase, with an initial target at the 1.0955 level.

For the current day, the expected trading range spans between the support at 1.0790 and the resistance at 1.0950.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.08890

Take Profit – 1.08401

Stop Loss – 1.09247

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$489/ -$357

Profit & Loss Per Micro Lot = +$48/ -$35

Daily Price Outlook

Following the recent data from the Australian Bureau of Statistics, the nation's unemployment rate for July experienced an uptick, settling at 3.7%, a rise from June's 3.5%. This data revealed a growth in the number of unemployed individuals by 36,000. Additionally, the participation rate, representing the percentage of those aged 15 and older either employed or actively seeking employment, witnessed a slight dip of 0.1 percentage points, closing at 66.7%. This macroeconomic development has cast a shadow over the AUD/USD pair.

Professionally examining the trajectory of the AUD/USD pair, it has adeptly met our anticipated target at 0.6400. Initiating today's trading with a bearish undertone, the pair not only breached the 0.6400 level but also affirmed the dominating bearish trend, hinting at a potential movement towards our forthcoming bearish target set at 0.6310.

Reinforcing this downtrend, the 50-Day Exponential Moving Average (EMA50) lends its weight behind the envisaged bearish momentum. However, this sentiment will hold its validity contingent upon the pair's ability to maintain its position below the 0.6400 threshold.

For today's trading landscape, we foresee the pair oscillating within a range, demarcated by the 0.6310 support level and the 0.6420 resistance level.

AUD/USD - Trade Idea

Entry Price – Sell Below 0.64003

Take Profit – 0.62815

Stop Loss – 0.64833

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1188/ -$830

Profit & Loss Per Micro Lot = +$118/ -$83

Daily Price Outlook

In a comprehensive assessment of gold's market trajectory, the precious metal has demonstrated a pronounced downturn, successfully reaching our initial anticipated benchmark at $1892.00. Currently, gold is exerting pressure on this level, aiming to validate its break beneath it. This augments the likelihood of persisting in a bearish trend, with potential descent aiming towards the subsequent target of $1873.50.

In light of these dynamics, our outlook remains bearish for the foreseeable horizon, underscored by the downward impetus provided by the 50-Day Exponential Moving Average (EMA50). It is paramount to observe that any breach of the $1905.00 level, succeeded by the $1913.15 benchmark, would arrest the anticipated decline, potentially pivoting the metal's trajectory towards an ascent.

For the day's trading landscape, we project gold's valuation to oscillate between a support threshold of $1875.00 and a resistance cap of $1905.00.

GOLD(XAU/USD) - Trade Idea

Entry Price – Sell Below 1897

Take Profit – 1885

Stop Loss – 1906

Risk to Reward – 1: 1.33

Profit & Loss Per Standard Lot = +$1200/ -$900

Profit & Loss Per Micro Lot = +$120/ -$90 

Daily Price Outlook

The EUR/USD currency pair has decisively surpassed the 1.0880 benchmark, culminating in a daily candlestick closure beneath this threshold. This development reinforces the projection of an extended bearish trajectory in the forthcoming phase, setting the stage for an eventual descent towards our subsequent objective situated at 1.0785.

The 50-Day Exponential Moving Average (EMA50) consistently underpins this envisaged downward momentum. It's noteworthy that this sentiment has been influenced by the recently culminated double bottom formation. It's pivotal for investors to recognize that any potential breach of the 1.0880 level could instigate the pair to embark on recovery endeavors, initially aiming for the 1.0955 zones, prior to making another downturn effort.

For today, the anticipated trading bracket is delineated between the support level of 1.0780 and the resistance at 1.0935.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.08783

Take Profit – 1.08370

Stop Loss – 1.09134

Risk to Reward – 1: 1.1

Profit & Loss Per Standard Lot = +$413/ -$351

Profit & Loss Per Micro Lot = +$41/ -$35

Daily Price Outlook

The EUR/USD pair exhibited a bearish rebound upon encountering the initial significant resistance at 1.0955, signaling an intent to continue its corrective downward trajectory. A breach of the 1.0880 mark is crucial to pave the way for our subsequent target at 1.0785.

Given these dynamics, the prevailing outlook remains bearish for the forthcoming period, further reinforced by the negative momentum implied by the EMA50.

It's noteworthy that surpassing the 1.0955 level, followed by the 1.1030 threshold, would nullify the anticipated decline, steering the pair back toward a primary bullish trend.

Today, we foresee a trading spectrum with a floor at 1.0820 and a ceiling at 1.0970.  

EUR/USD - Trade Idea

Entry Price – Sell Below 1.09313

Take Profit – 1.08499

Stop Loss – 1.09766

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$814/ -$453

Profit & Loss Per Micro Lot = +$81/ -$45

Daily Price Outlook

The AUD/USD pair demonstrates an increased bearish inclination, nearing our projected target of 0.6040. We anticipate sustained downward momentum that might breach the stated level, setting the stage for further declines, potentially towards the 0.6310 mark.

Given these factors, a bearish trajectory is projected for both intraday and short-term intervals, underpinned by the negative influence of the EMA50. It's imperative to note that maintaining a position below 0.6550 is crucial to perpetuate the predicted bearish trend.

Today, the forecasted trading bracket spans from a support at 0.6380 to a resistance at 0.6490.  

AUD/USD - Trade Idea

Entry Price – Sell Below 0.64604

Take Profit – 0.64138

Stop Loss – 0.64920

Risk to Reward – 1: 1.45

Profit & Loss Per Standard Lot = +$466/ -$316

Profit & Loss Per Micro Lot = +$46/ -$31

Daily Price Outlook

 During the previous trading session, gold displayed a distinct downward trajectory, nearing our anticipated target of $1,892. This decline followed a period of fluctuating behavior, during which the price tested a pivotal resistance at $1,913, only to retreat in a bearish manner.

This reinforces the ongoing bearish trend in intraday and short-term perspectives, clearly delineated within the chart's evident bearish channel. We project a further descent toward the $1,874 mark.

Given these factors, our forecast remains bearish for the forthcoming period, with the EMA50 providing additional support for this stance.

This outlook hinges on the price's consistent positioning below the $1,913 threshold. For today, we anticipate a trading corridor with support at $1,885 and resistance capped at $1,915.  

GOLD(XAU/USD) - Trade Idea

Entry Price – Buy Above 1899

Take Profit – 1893

Stop Loss – 1889

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$1900/ -$1000

Profit & Loss Per Micro Lot = +$190/ -$100