Daily Price Outlook

- Immediate Resistance: $1.10832 – A break above could lead to testing the next resistance at $1.10952.

- Immediate Support: $1.10461 – Failure to hold this level could result in a decline to $1.10254 and $1.10051.

- Pivot Point: $1.10695 – Currently acting as a short-term neutral level.

EUR/USD is currently trading at $1.10651, down 0.02% in today’s session. The pair has struggled to gain traction, reflecting the broader uncertainty in global currency markets. After testing the $1.10832 resistance level earlier today, EUR/USD failed to break higher, suggesting that bearish momentum is still intact. The 50-day Exponential Moving Average (EMA) at $1.11405 continues to act as a strong resistance, capping further upside potential.

The Relative Strength Index (RSI) has dipped to 32, indicating bearish momentum and suggesting that EUR/USD could face additional downward pressure if it drops below 30. On the downside, immediate support is seen at $1.10461. A break below this level could accelerate declines toward $1.10254 and $1.10051. Conversely, for a bullish reversal to take hold, the pair must decisively break above the pivot point at $1.10695 and test the resistance levels at $1.10832 and $1.10952.

Short-term technical indicators suggest that EUR/USD may experience further declines if it fails to regain ground above $1.10695. The pair remains under selling pressure, with an entry below $1.10694 offering potential profit at $1.10453. Traders should watch for a move above $1.10832 to signal a potential bullish reversal.

EUR/USD - Trade Ideas

Entry Price – Sell Below 1.10694

Take Profit – 1.10453

Stop Loss – 1.10838

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$241/ -$144

Profit & Loss Per Mini Lot = +$24/ -$14

Daily Price Outlook

- Resistance at $2,669.37: Gold needs to clear this level for a bullish reversal.

- Immediate Support at $2,648.16: A break below may trigger further declines.

- 50-EMA as a Barrier: Acting as strong resistance, holding back bullish momentum.

Gold (XAU/USD) is currently trading at $2,654.30, down 0.35% for the day, as the metal faces renewed selling pressure. Despite a modest recovery attempt, gold failed to breach the immediate resistance level at $2,669.37, which aligns with its descending trendline and the 50-day Exponential Moving Average (EMA) at $2,656.41. This has reinforced bearish sentiment among traders.

The Relative Strength Index (RSI) is holding at 50, indicating a lack of strong momentum in either direction. If gold prices break below the immediate support at $2,648.16, it could trigger a deeper correction toward the next support levels at $2,639.79 and $2,631.27. Conversely, if gold manages to clear the $2,669.37 resistance, it could set the stage for a move higher to $2,677.74 and potentially $2,685.39.

Short-term technical indicators suggest a cautious outlook, with gold needing to maintain support above $2,648.16 to avoid further declines. Traders should watch for a clear break above $2,669.37 to confirm any renewed bullish momentum.

Gold remains under bearish pressure. An entry position could be considered below $2,660, targeting support at $2,648. For upside potential, a break above $2,669 is required to open further gains.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2660

Take Profit – 2648

Stop Loss – 2669

Risk to Reward – 1: 1.3

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

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

Daily Price Outlook

- Immediate Resistance: $1.33299 – A break above could see the pair testing the $1.33569 resistance.

- Immediate Support: $1.32724 – Failure to hold this level may push the pair to test $1.32368 and $1.32084.

- Pivot Point: $1.32951 – Critical for determining near-term direction.

GBP/USD is currently trading at $1.32756, down 0.07% for the day, reflecting bearish sentiment amid concerns over potential interest rate decisions by the Bank of England (BoE). The pair has been under pressure since failing to sustain above the 50-day Exponential Moving Average (EMA) at $1.33647, a critical resistance that capped recent bullish attempts. The Relative Strength Index (RSI) stands at 34, indicating weak momentum, but not yet oversold, suggesting room for further declines.

On the downside, immediate support is seen at $1.32724, closely followed by $1.32368 and $1.32084. If the pair breaks below these levels, it could trigger additional selling pressure, pushing GBP/USD further down. Conversely, on the upside, the pivot point at $1.32951 will be crucial for the pair to reclaim a bullish bias. Immediate resistance is pegged at $1.33299, with subsequent resistance levels at $1.33569 and $1.33889. A sustained break above these levels would indicate renewed bullish momentum.

The 50-day EMA at $1.33647 remains a key barrier for GBP/USD. If the pair can rise above this level, it would signal a potential trend reversal. Until then, the outlook remains cautiously bearish.

The pair remains under bearish pressure, with an entry above $1.32722 offering potential profit at $1.33299. Monitor resistance at $1.33299 for signs of a bullish reversal.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.32722

Take Profit – 1.33299

Stop Loss – 1.32339

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$577/ -$383

Profit & Loss Per Mini Lot = +$57/ -$38

Daily Price Outlook

- Momentum Near Overbought Zone: RSI at 61 indicates bullish momentum, but a reversal may occur if resistance levels hold.

- Key Support at $1.34900: Critical support just above the 50-EMA could act as a floor, preventing deeper declines.

- Resistance at $1.35440 in Focus: A break above this immediate resistance is needed to confirm bullish continuation.

The U.S. dollar is holding steady against the Canadian dollar, with the USD/CAD pair currently trading at $1.35264, a marginal dip of 0.01% as traders await key economic data releases.

The pair is hovering near its pivot point of $1.35174, which suggests that the market is seeking directional clarity amid fluctuating crude oil prices and shifts in U.S. interest rate expectations.

With the pair’s Relative Strength Index (RSI) sitting at 61, momentum is slightly in favor of the bulls, but the market is approaching overbought territory, which could cap any immediate upside movement.

Immediate resistance is noted at $1.35440, a level that aligns with recent highs and may act as a short-term barrier for further gains. A break above this resistance would pave the way for the next upside targets at $1.35811 and $1.36118.

On the downside, immediate support stands at $1.34900, followed by $1.34631, which coincides closely with the 50-day Exponential Moving Average (EMA) at $1.34861.

A sustained move below these levels would likely trigger additional selling pressure, driving the pair towards the lower support at $1.34328.

The technical landscape suggests a potential buy setup above the $1.35150 mark, with a take-profit target at $1.35500 and a stop-loss at $1.34900.

As long as the pair remains above the 50-EMA, the bias is slightly bullish, with buyers likely to defend the key $1.34900 support level.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.35150

Take Profit – 1.35500

Stop Loss – 1.34900

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$350/ -$250

Profit & Loss Per Mini Lot = +$35/ -$25

Daily Price Outlook

- Pivot Point Support at $0.69069: The pair’s ability to hold above this level is crucial for maintaining a bullish bias.

- RSI Near Neutral at 48: Momentum is evenly balanced, suggesting no imminent overbought or oversold conditions.

- Resistance at $0.69403 in Focus: A decisive break above this level could propel AUD/USD towards $0.69622 and higher.

The Australian dollar (AUD) continues to edge higher against the U.S. dollar (USD), maintaining a cautious upward trajectory. As of the latest trading session, the AUD/USD pair is trading at $0.69223, marking a slight 0.15% increase.

This recent climb positions the pair above its pivot point at $0.69069, suggesting a potential for further gains if key resistance levels are breached.

Immediate resistance is observed at $0.69403, followed by additional hurdles at $0.69622 and $0.69823. The 50-day Exponential Moving Average (EMA) is currently situated at $0.69140, serving as a critical support area that underpins the current bullish bias.

A sustained hold above this level could reinforce the bullish outlook, encouraging further buying interest.

The Relative Strength Index (RSI) reads 48, signaling neutral momentum with a slight inclination towards the upside. This neutral reading suggests that the market is not yet overbought or oversold, offering room for additional price movement in either direction.

On the downside, immediate support is identified at $0.68886. Should the price break below this level, it could trigger a deeper correction towards $0.68696 and $0.68478, where buyers might step in.

Given the technical setup, a potential buy entry above $0.69069 appears favorable, targeting $0.69406 while maintaining a stop-loss just below immediate support at $0.68886.

The AUD/USD’s recent resilience hints at a measured bullish sentiment, provided it remains above the 50-EMA.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.69069

Take Profit – 0.69406

Stop Loss – 0.68886

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$337/ -$183

Profit & Loss Per Mini Lot = +$33/ -$18

Daily Price Outlook

- Immediate Resistance at $2,650.27: Aligns closely with the 50-day EMA, creating a strong ceiling for any bullish attempts.

- Support Levels to Watch: Key supports at $2,633.19 and $2,624.76 are critical; a break below these could lead to further losses.

- RSI Signals Neutral Momentum: With an RSI of 45.00, gold lacks a clear directional bias, suggesting consolidation is likely until further market catalysts arise.

Gold prices are trading in a narrow range, reflecting a consolidation phase as the market digests recent comments from the U.S. Federal Reserve and awaits pivotal economic data releases.

The precious metal is currently hovering around $2,638.40, showing a modest uptick of 0.14%. The recent price action has positioned gold just below its immediate resistance at $2,650.27, which coincides closely with the 50-day Exponential Moving Average (EMA) of $2,651.13.

This technical confluence suggests a robust barrier to any upside moves unless a substantial catalyst emerges.

The Relative Strength Index (RSI) reads 45.00, indicating that momentum is neutral, with a slight bearish tilt. Given the lack of strong directional momentum, gold is likely to continue oscillating between key support and resistance levels in the short term.

On the downside, immediate support is observed at $2,633.19, a level that, if breached, could accelerate declines toward $2,624.76 and potentially $2,615.24.

For traders, the pivot point at $2,643.35 is crucial. A sustained break below this level could signal further downside risk, making a short position attractive with a target of $2,630.

Conversely, a rebound above the 50-EMA resistance could pave the way for gold to test $2,660.86 and $2,671.02, offering a possible bullish reversal.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2643

Take Profit – 2630

Stop Loss – 2650

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1300/ -$700

Profit & Loss Per Mini Lot = +$130/ -$70

Daily Price Outlook

- Bearish Bias: Gold remains under pressure below $2,658, with immediate support at $2,645.

- Key Resistance: $2,666 and $2,685 are critical levels to watch for a bullish breakout.

- Short Entry: Consider selling below $2,658 with a target of $2,640 and stop-loss at $2,665.

Gold (XAU/USD) is trading at $2,650.58, reflecting a slight decline of 0.08% as bearish sentiment persists. The metal is struggling to break above its pivot point at $2,658.20, indicating a lack of upward momentum.

Gold faces immediate resistance at $2,666.42, followed by a stronger barrier at $2,685.82. Any move above these levels could signal a potential bullish reversal; however, with the 50-day Exponential Moving Average (EMA) positioned at $2,663.47, this area remains a significant resistance zone for gold in the short term.

On the downside, immediate support is at $2,645.13, with further levels to watch at $2,634.74 and $2,624.02. A break below $2,645.13 could open the door to a deeper retracement, possibly testing the 200-day EMA around $2,628.98.

The Relative Strength Index (RSI) is currently at 41, suggesting a bearish bias but not yet oversold, leaving room for further declines.

From a technical perspective, sellers seem to have the upper hand as long as prices remain below the $2,658 pivot level. Traders might consider short positions below this level with a target of $2,640 and a stop-loss set at $2,665.

The broader market sentiment will likely be influenced by key events like the upcoming Non-Farm Payrolls (NFP) report and Fed Chair Powell’s speech, which could inject volatility into gold prices.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2658

Take Profit – 2640

Stop Loss – 2665

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$1800/ -$700

Profit & Loss Per Mini Lot = +$180/ -$70

Daily Price Outlook

- Mild Bullish Bias: EUR/USD trades above its pivot at $1.1184, eyeing resistance at $1.1214.

- Support Levels: Immediate support at $1.1171; break below could test $1.1150.

- Buy Strategy: Consider buying above $1.1184, targeting $1.1214 with a stop-loss at $1.1169.

EUR/USD is currently trading at $1.11937, reflecting a modest gain of 0.03% as it hovers above the pivot point at $1.1184. The pair has been in a steady upward trajectory, suggesting mild bullish sentiment in the near term.

Immediate resistance is observed at $1.1200, followed by $1.1214 and $1.1232, making these levels critical for further upward momentum. A break above $1.1214 could lead to a test of $1.1232, indicating a stronger bullish continuation.

On the downside, immediate support lies at $1.1171, with subsequent levels at $1.1150 and $1.1133. The 50-day Exponential Moving Average (EMA) is positioned at $1.1166, indicating that the pair is trading above its short-term trend line and suggesting continued bullish momentum.

However, the Relative Strength Index (RSI) is at 61, nearing overbought territory, which could limit further gains unless there is a strong catalyst, such as positive economic data from the Eurozone or dovish commentary from the Federal Reserve.

From a technical perspective, traders may consider long positions above $1.1184, targeting resistance at $1.1214 and setting a stop-loss around $1.1169 to manage risk.

The focus will be on key economic releases, such as the Eurozone inflation data and U.S. employment numbers, which could significantly influence the pair’s direction in the coming days.

For now, the EUR/USD remains supported above $1.1184, but any break below this pivot point could shift sentiment to bearish, bringing $1.1150 back into play as a key support level. Until then, the pair looks poised to test resistance levels as it sustains its upward momentum.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11844

Take Profit – 1.12141

Stop Loss – 1.11696

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$301/ -$148

Profit & Loss Per Mini Lot = +$29/ -$14

Daily Price Outlook

- Bullish Momentum: GBP/USD trades above its pivot at $1.3390, targeting resistance at $1.3427.

- Support Levels: Immediate support is seen at $1.3359; a break below could test $1.3334.

- Buy Strategy: Consider buying above $1.3390, targeting $1.3448 with a stop-loss at $1.3362.

GBP/USD is trading at $1.34054, up 0.15% for the day, indicating a mild bullish bias as it trades above its pivot point at $1.3390. The pair has been gaining traction, supported by positive UK economic data, and is now eyeing key resistance levels.

Immediate resistance is seen at $1.3427, followed by $1.3456 and $1.3487. A break above $1.3427 could pave the way for further gains, potentially targeting $1.3456 in the near term.

On the downside, immediate support lies at $1.3359, with subsequent support levels at $1.3334 and $1.3312. The 50-day Exponential Moving Average (EMA) at $1.3390 serves as a key short-term support level, and any sustained move below this point could shift the sentiment back to bearish.

Additionally, the Relative Strength Index (RSI) is currently at 58, indicating that the pair is not overbought, leaving room for potential further upside before reaching overextended levels.

Traders looking to capitalize on the current momentum might consider entering long positions above $1.3390, targeting $1.3448 with a stop-loss set around $1.3362 to limit downside risk. The GBP/USD outlook will remain dependent on upcoming economic data releases from both the UK and the U.S., with particular focus on U.S. jobs data and any potential shifts in Federal Reserve policy.

In summary, GBP/USD is trading with a slight bullish bias, holding above its pivot point. A break above $1.3427 could further strengthen the pair’s upward momentum. However, any move below $1.3359 would negate this bias and possibly lead to a retest of lower support levels.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.33897

Take Profit – 1.34478

Stop Loss – 1.33621

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$581/ -$276

Profit & Loss Per Mini Lot = +$58/ -$27

Daily Price Outlook

- Immediate resistance is at $1.1183; a break above could target $1.1198 and $1.1214.

- Support is firm at $1.1154, with the 50 EMA at $1.1162 providing additional backing.

- RSI at 51 signals neutral momentum; a move above 60 could indicate a bullish shift.

The EUR/USD pair is currently trading at $1.11672, down 0.14% in today’s session, as traders remain cautious ahead of key macroeconomic data releases. The pair is hovering around the pivot point of $1.1164, a critical level that could dictate the direction of the next move.

Immediate resistance is seen at $1.1183, followed by $1.1198 and a more significant level at $1.1214. A breakout above these levels could trigger bullish momentum, driving the pair higher.

On the downside, immediate support lies at $1.1154, with further supports at $1.1140 and $1.1126. These levels will be crucial in maintaining the pair’s current uptrend.

The 50-day Exponential Moving Average (EMA) at $1.1162 is providing immediate support, aligning closely with the pivot point. A sustained move above this EMA could signal bullish continuation, while a break below could lead to a deeper correction.

The Relative Strength Index (RSI) is at 51, indicating neutral momentum. This suggests the pair could go either way, depending on how it interacts with immediate support and resistance levels. If the RSI rises above 60, it could indicate a stronger bullish trend. However, a dip below 50 could shift the sentiment to bearish.

In conclusion, EUR/USD is at a critical juncture, with the potential for both bullish and bearish scenarios.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.11637

Take Profit – 1.11938

Stop Loss – 1.11493

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$301/ -$144

Profit & Loss Per Mini Lot = +$30/ -$14