Daily Price Outlook

- Gold trades within a falling wedge; bearish continuation likely.

- RSI is oversold, but lacking bullish reversal signals.

- Breakdown below $3,222 opens door to $3,187 and $3,153.

Gold (XAU/USD) remains entrenched in a descending wedge pattern, struggling to reclaim resistance above $3,260. The price has sharply declined from April highs, forming a series of lower highs and lower lows, with clear rejection from the $3,314 zone.

Candlestick structure is bearish, including a series of red-bodied candles and a breakdown through $3,261, reinforcing downside bias. The 50 SMA at $3,299 continues to act as dynamic resistance.

The RSI sits near 30.2, teetering on the edge of oversold territory without showing divergence—suggesting sellers remain in control. The presence of a spinning top followed by another bearish candle hints at indecision followed by renewed pressure.

If $3,222 breaks, expect a slide toward $3,188 and $3,153. For bulls to regain momentum, a decisive close above $3,260 and the wedge’s upper trendline is essential. Until then, short positions remain technically favorable.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3260

Take Profit – 3187

Stop Loss – 3295

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$7300/ -$3500

Profit & Loss Per Mini Lot = +$730/ -$350

Daily Price Outlook

- Bearish engulfing candle below trendline signals downside continuation.

- RSI points lower, confirming bearish momentum.

- Entry below $0.63985 targets $0.63659, stop-loss above $0.64205.

The Australian Dollar (AUD/USD) is trading under pressure near $0.63900 after rejecting key resistance at $0.64192. Price action remains capped by a descending trendline that has contained rallies since April 15, reinforcing the short-term bearish structure.

The recent rejection forms a lower high near $0.64205, just beneath a confluence of resistance levels and the 50-hour SMA, currently at $0.63974, acting as dynamic resistance.

The current candlestick structure reveals bearish continuation potential, with a strong bearish engulfing candle forming after multiple indecisive attempts to break the $0.64192 zone.

The RSI has turned lower from 53.38 and now prints at 44.84, suggesting waning bullish momentum and no divergence—aligning with broader bearish sentiment.

On the downside, immediate support lies at $0.63662, followed by $0.63487 and then $0.63335. If the pair breaches $0.63659 with follow-through, the move could extend to test April’s lows.

The confluence of the descending trendline and failure to establish higher highs reaffirms bearish bias. A confirmed break below $0.63985 would validate short entries, targeting $0.63659 while capping risk with a stop-loss above $0.64205.

With both price and RSI failing to push higher and no bullish reversal patterns present (e.g., Doji, Hammer, or Piercing Line), the path of least resistance remains to the downside. Unless price recovers and sustains above the 50 SMA, intraday rallies may continue to be sold into.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.63985

Take Profit – 0.63659

Stop Loss – 0.64205

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$326/ -$220

Profit & Loss Per Mini Lot = +$32/ -$22

Daily Price Outlook

- Price is compressing inside a symmetrical triangle with ascending trendline support.

- RSI divergence and multiple doji/spinning top candles show indecision.

- Watch for a confirmed breakout above $3,313 or breakdown below $3,273.

Gold is consolidating just above an ascending trendline support drawn from the April 19 low, while capped below a descending channel top from the $3,410 swing high. The price is coiling inside a symmetrical triangle, suggesting a breakout is likely.

Price is currently below the 50-period EMA ($3,313.50), which is acting as dynamic resistance, while support remains intact near $3,306.94 and the broader $3,273.00 zone.

Recent candles show multiple spinning tops and small-bodied dojis, reflecting indecision at a key technical junction. The absence of momentum suggests traders are awaiting a fundamental catalyst.

However, price action continues to print higher lows, showing underlying bullish intent. A close above $3,313.50 could trigger a bullish continuation toward $3,352.47, and potentially $3,379.07.

The Relative Strength Index (RSI) is hovering around 45.68, below the midpoint, and diverging slightly from price—a potential sign of fading downside pressure.

No bearish engulfing or three black crows are visible on this timeframe, but the failure to print a clean bullish engulfing or hammer near support also implies hesitancy among buyers.

If gold fails to hold above $3,306.94, it may retest the ascending trendline near $3,273.00. Below that, key horizontal support rests at $3,246.38 and then $3,212.28.

Overall, a break above the triangle and reclaim of the 50 EMA could shift short-term sentiment back to bullish.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3307

Take Profit – 3352

Stop Loss – 3273

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$4500/ -$3400

Profit & Loss Per Mini Lot = +$450/ -$340

Daily Price Outlook

- EUR/USD trades above rising trendline with higher lows structure intact.

- RSI and price action suggest potential upside, pending confirmation.

- Breakout above $1.13836 could trigger bullish continuation.

EUR/USD is trading within a tightening ascending structure, supported by a rising trendline from the April 23 low. The pair recently rebounded from $1.13618, just above the trendline and the proposed entry point at $1.13621, hinting at a potential bullish continuation.

Price remains close to the 50-period SMA ($1.13836), which is currently acting as dynamic resistance. If this level is cleared, the next target is $1.14098, followed by stronger resistance near $1.14248.

Candlestick behavior reveals indecision, with recent spinning tops and small-bodied candles near the support zone.

However, there’s no strong reversal pattern yet—no bullish engulfing or three white soldiers—but the higher lows remain intact, keeping the bullish structure technically alive.

The RSI (14) is printing 46.88, slightly below neutral but curling upward, suggesting early bullish momentum. If RSI crosses above 50 and price clears the SMA, it would further confirm bullish intent.

A failure to hold the trendline near $1.13365 would invalidate this setup, potentially exposing the pair to a drop toward $1.13077.

For now, the setup favors a cautious long with tight risk control, watching the ascending trendline as a key inflection point. A breakout above $1.14098 may open up space for a run toward $1.14508.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13621

Take Profit – 1.14098

Stop Loss – 1.13365

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$477/ -$256

Profit & Loss Per Mini Lot = +$47/ -$25

Daily Price Outlook

- Price trades within rising channel and holds above 50 SMA.

- RSI shows early bullish signs; higher lows remain intact.

- Break above $1.3411 may accelerate momentum toward $1.34385.

GBP/USD is climbing within a well-defined ascending channel, currently supported by the lower trendline near $1.3380. Price is hovering just above the 50 SMA ($1.3392), which has recently acted as dynamic support.

A successful bounce here could fuel further upside toward the mid-channel level around $1.3438, aligned with recent price structure.

The candlestick formation shows a clear series of higher lows, reflecting sustained buying interest. After a brief consolidation, bullish momentum may resume if price holds above $1.3380.

The RSI is at 49.71, marginally below neutral but attempting to cross its signal line, suggesting a potential recovery in momentum.

No classic reversal patterns like engulfing or three white soldiers are present, but the structure supports gradual upside.

A break below $1.3358 would invalidate the setup and expose downside risk toward $1.3348 and $1.3315. Until then, bulls remain in control within the channel framework.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33808

Take Profit – 1.34385

Stop Loss – 1.33585

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$577/ -$223

Profit & Loss Per Mini Lot = +$57/ -$22

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

- 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

- 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

- 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