Daily Price Outlook

- Momentum Slows: Price rejected at $3,355 with RSI rolling off overbought levels.

- Fibonacci Supports in Focus: $3,294 and $3,274 are likely downside checkpoints.

- SMA Support Nearby: The 50-period SMA at $3,251 may offer rebound potential if tested.

Gold is showing early signs of a short-term correction after reaching a high of $3,355. Price has since pulled back below the $3,344 resistance area, suggesting a potential shift in momentum.

The move coincides with a retreat from overbought RSI conditions and a rejection at the 0.0 Fibonacci extension level ($3,355), drawn from the March low of $3,192. The market has now slipped below the 0.236 retracement ($3,316), a level that may act as an early trigger for further downside.

Technical structure indicates a possible correction toward the $3,294 region, which aligns with the 0.382 Fibonacci retracement. Should bearish momentum accelerate, further declines toward $3,274 and $3,254 may unfold.

These areas are clustered with deeper retracement levels and near the rising 50-period SMA, currently at $3,251 — a zone likely to attract buyers if tested.

Meanwhile, the Relative Strength Index (RSI) has dropped from over 82 to 71.6, cooling from overbought levels but still above neutral. This supports the case for a continued retracement before a potential re-entry by trend-followers. As long as gold remains below $3,344, near-term risks lean toward a corrective phase.

A break back above $3,344 would weaken the bearish outlook and re-expose the $3,355–$3,375 resistance zone.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3344

Take Profit – 3294

Stop Loss – 3375

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$5000/ -$3100

Profit & Loss Per Mini Lot = +$500/ -$310

Daily Price Outlook

- Rejection at Resistance: AUD/USD rejected again from $0.6391, reinforcing bearish structure.

- Momentum Weakens: RSI falls to 56, signaling reduced buying strength.

- Downside Targets: $0.6276 remains the key support level to watch for confirmation.

AUD/USD is slipping lower after another rejection from the $0.6391 resistance zone, which has repeatedly capped price action over recent weeks.

This area is forming a well-defined supply zone, with multiple failed breakout attempts reinforcing its technical relevance. The recent rejection aligns with the broader structure of a potential lower high, suggesting downside risk is building.

The pair is currently trading back below the highlighted resistance band, with the bearish move gaining traction. Immediate support is now seen at $0.6276 — a level that coincides with prior swing lows and the lower bound of the current consolidation. A breakdown below this point could expose $0.6193 as the next target.

The 50-period SMA, now at $0.6199, remains upward sloping but is yet to catch up with the latest price action, indicating a potential gap between short-term trend and momentum.

Meanwhile, the Relative Strength Index (RSI) has rolled over from a peak near 70 and is now sitting at 56, reflecting weakening bullish pressure without being oversold — a setup that often precedes deeper retracements.

As long as price remains below $0.6391, the short-term outlook favors a move lower. A clear break below $0.6300 would confirm bearish continuation and validate the $0.6276 target.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.63912

Take Profit – 0.62768

Stop Loss – 0.64440

Risk to Reward – 1: 2.1

Profit & Loss Per Standard Lot = +$1144/ -$528

Profit & Loss Per Mini Lot = +$114/ -$52

Daily Price Outlook

- Momentum Builds: GBP/USD extends gains beyond $1.3207, targeting the $1.3340 extension.

- Trend Confirmation: Price is well above the 50-SMA, supporting the bullish case.

- Watch RSI: At 74.1, the indicator warns of limited near-term upside without pause.

GBP/USD is extending its upward momentum after confirming a breakout above the key $1.3207 Fibonacci level. The pair has now entered a higher resistance zone, targeting the 1.272 Fibonacci extension at $1.3340.

The rally from the $1.2700 region has been steady, with price consistently printing higher highs and respecting short-term support levels — a sign of sustained buyer interest.

The 50-period Simple Moving Average (SMA), currently at $1.2981, is sloping upward and well below the current price, underlining the strength of the bullish structure.

Momentum indicators also support this trend, with the Relative Strength Index (RSI) at 74.1, showing overbought conditions but not yet diverging. This could signal that bullish sentiment remains intact, though short-term pullbacks should not be ruled out.

Immediate resistance lies at $1.3340. A break above this could expose the next key levels at $1.3412 and $1.3512. On the downside, the first support is seen at $1.3207 — the breakout level — followed by $1.3133, which marks the lower boundary of the most recent bullish impulse.

While overbought signals warrant some caution, price action suggests that dips may offer renewed buying opportunities as long as the pair holds above $1.3133.

GBP/USD - Trade Ideas

Entry Price – Buy Above 1.32071

Take Profit – 1.33400

Stop Loss – 1.31333

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1329/ -$738

Profit & Loss Per Mini Lot = +$132/ -$73

Daily Price Outlook

- Breakout Confirmed: Price exits consolidation, moving above $1.1343 with bullish momentum.

- Support from Trendline and SMA: 50-period SMA at $1.1342 reinforces structure.

- Upside Target in View: Price could move toward $1.1427 if momentum holds.

EUR/USD has broken out of a symmetrical triangle pattern after consolidating below $1.1343 for several sessions. The breakout is supported by higher volume and firm bullish candles, pushing price above both the 50-period SMA and a descending trendline resistance. This shift in structure signals a bullish continuation toward the next resistance near $1.1427.

The 50-period Simple Moving Average (SMA), now at $1.1342, has turned upward and is offering early confirmation of trend reversal support. Price is trading decisively above this level, and short-term momentum is picking up.

The Relative Strength Index (RSI) is currently at 65.79, rising steadily but still below overbought territory. This suggests that the breakout is healthy, and further upside may be achievable before buyers begin to fade.

As long as the price remains above the $1.1343 breakout level, bullish pressure is likely to persist. The key upside target lies at $1.1427 — a level aligned with a prior rejection zone. On the downside, a fall below $1.1340 could shift short-term sentiment back to neutral, while a break below $1.1294 would invalidate the current setup.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13433

Take Profit – 1.14270

Stop Loss – 1.12941

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$837/ -$492

Profit & Loss Per Mini Lot = +$83/ -$49

Daily Price Outlook

- Trend Holds Firm: Price trades within an ascending channel, supported by the 50-SMA.

- Overbought Conditions: RSI at 82 warns of limited near-term upside without a pause.

- Watch $3,298: A breakout above this level could open the way to $3,310.

Gold continues to extend its upward move within a well-defined ascending channel, having broken through short-term resistance at $3,270. The metal is now approaching the next key level at $3,298, a zone that may attract profit-taking after a sharp rally from the $3,215 area earlier this week.

Price structure remains bullish, with higher highs and higher lows intact, and strong buying interest evident on each pullback.

The 50-period Simple Moving Average (SMA), currently at $3,229, supports the trend and confirms buyers remain in control. Price is trading well above this moving average, indicating a short-term overextension, which is also reflected in momentum indicators.

The Relative Strength Index (RSI) is now at 82, signaling overbought conditions — a possible precursor to a temporary pause or minor pullback. However, overbought signals alone are not enough to invalidate a bullish trend, especially in trending markets.

If momentum persists, a clean break above $3,298 could lead to a test of the $3,310 resistance zone, followed by $3,338 as the next upside target. On the other hand, any weakness below $3,270 could prompt a retest of the $3,250 support zone, with deeper downside levels emerging near the SMA around $3,229.

The current structure favors buying on dips as long as price remains above $3,250. Traders should monitor price behavior near resistance, particularly with momentum stretched.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3270

Take Profit – 3310

Stop Loss – 3250

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$4000 -$2000

Profit & Loss Per Mini Lot = +$400/ -$200

Daily Price Outlook

- Bullish Bias Holds: Gold sustains breakout above $3,168 pivot; eyes $3,255–$3,298 Fibonacci targets.

- Momentum Backed by SMA: 50-SMA at $3,167 continues to offer solid dynamic support.

- RSI Neutral-Bullish: RSI at 61 suggests further room for upside without immediate overbought risk.

Gold prices are exhibiting strong bullish momentum after decisively breaking above the $3,168 Fibonacci pivot level, retracing fully from the April 4 dip near $2,956.

The recent breakout above the 1.0 Fibonacci level at $3,168 has been sustained, with prices consolidating in a tight range just below the $3,255 resistance — the 1.414 Fib extension level. This signals a potential continuation toward the 1.618 extension at $3,298, provided the bullish structure remains intact.

Technically, gold remains supported by the upward sloping 50-period SMA, currently at $3,167. This moving average has acted as a dynamic support since the April rebound began, reflecting the persistent demand for the metal amid geopolitical and inflationary concerns.

Meanwhile, the Relative Strength Index (RSI) is hovering near 61, indicating that while bullish momentum is present, the market is not yet in overbought territory, offering room for further upside.

Immediate support is now observed at $3,206 — aligning with recent consolidation lows — followed by stronger buying interest expected near the $3,168 and $3,123 retracement zones. As long as gold holds above the $3,167 stop-loss threshold, the bullish thesis remains valid.

A breakout above $3,255 could trigger momentum toward the $3,283 and $3,298 resistances, with potential for a further extension to $3,338 should bullish sentiment intensify. However, failure to hold above $3,206 would expose gold to a pullback toward the $3,167-$3,123 support cluster.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3206

Take Profit – 3283

Stop Loss – 3167

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$7700/ -$3900

Profit & Loss Per Mini Lot = +$770/ -$390

Daily Price Outlook

- Bearish Pressure Holds: Price remains capped below $1.3912, suggesting continued downside risk.

- Momentum Weak: RSI at 37 confirms limited buying strength.

- Break Below $1.3830: Could accelerate a decline toward $1.3750 and $1.3677.

USD/CAD is trading in a narrow range following an extended downward move, holding below key resistance at $1.3912. This level aligns with a previous consolidation area and coincides with the 1.414 Fibonacci extension of the prior leg. The pair has been unable to break through this ceiling, reinforcing a bearish setup, especially with momentum indicators remaining under pressure.

The 50-period Simple Moving Average (SMA), currently at $1.4076, is sloping downward and far from current price levels, confirming that the medium-term trend remains to the downside. Additionally, the Relative Strength Index (RSI) is at 37.6, with no strong sign of reversal, indicating persistent bearish momentum.

Price continues to test the lower boundary of a short-term consolidation box between $1.3912 and $1.3830, signaling potential for further downside if the lower bound is breached.

If sellers regain control and push below $1.3830, the next support zone comes into focus near $1.3750 — a key Fibonacci projection level. A move beyond that may extend toward $1.3677, where deeper support from the 2.272 extension lies.

As long as price remains below the $1.3912 resistance, short-term bias stays bearish. A break above this level would invalidate the setup and open the way back toward the $1.3965 resistance. Until then, rallies are likely to face selling pressure.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.39126

Take Profit – 1.38034

Stop Loss – 1.39652

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$1092/ -$526

Profit & Loss Per Mini Lot = +$109/ -$52

Daily Price Outlook

- Rejection at Resistance: Price stalls at $0.6391 with signs of a triple top formation.

- Momentum Caution: RSI hovers near 65, suggesting reduced upside potential.

- Downside Targets: $0.6277 and $0.6218 emerge as key support levels if price breaks lower.

AUD/USD is encountering firm resistance near the $0.6391 level, where a potential triple top formation is taking shape. This technical pattern, which indicates repeated failure to move higher, suggests that bullish momentum may be weakening.

Price action has tested this area multiple times over the past few weeks, and the most recent approach was met with renewed selling interest.

The 50-period Simple Moving Average (SMA) is trending higher and currently sits around $0.6218, showing that the short-term structure has improved since the early April low.

However, with the pair approaching a historically strong resistance area, traders may start considering pullback scenarios — particularly if price slips below the $0.6391 neckline of the pattern.

Momentum indicators are signaling caution. The Relative Strength Index (RSI) is at 64.8, just below overbought levels. A decline below the 60 zone could confirm bearish divergence and further support the case for a short-term reversal.

A break below the $0.6391 threshold would shift the focus to $0.6277 as the next target, with potential to extend toward $0.6218 — close to the SMA and previous support.

Unless AUD/USD manages a clean breakout above $0.6444 — invalidating the triple top — the path of least resistance appears tilted to the downside in the near term.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.63912

Take Profit – 0.62768

Stop Loss – 0.64440

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1144/ -$528

Profit & Loss Per Mini Lot = +$114/ -$52

Daily Price Outlook

- Gold tests $3,255 resistance after clean breakout above $3,206

- Overbought RSI may trigger short-term pause or consolidation

- Next upside targets lie at $3,283 and $3,298 if momentum holds

Gold (XAU/USD) is extending its bullish momentum, currently hovering near the $3,232 level after decisively breaking past the $3,206 pivot. The uptrend remains firmly intact, supported by strong price action and a 50 SMA rising below current levels at $3,096. The market is now testing resistance at $3,255.39, a key Fib extension level, with upside potential toward $3,298.43 if buyers maintain control.

However, RSI at 70.82 signals overbought conditions, suggesting the rally could stall or consolidate before pushing higher. If the price fails to clear $3,255, we could see a retest of $3,206 or deeper toward $3,167, which now serves as a key downside risk level.

Gold remains bullish above the $3,206 breakout point. A sustained close above this level keeps the upside bias toward $3,283 and $3,298, with caution warranted as RSI stretches into overbought territory.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3206

Take Profit – 3283

Stop Loss – 3167

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$7700/ -$3900

Profit & Loss Per Mini Lot = +$770/ -$390

Daily Price Outlook

- EUR/USD trades well above the 50 EMA, maintaining bullish strength

- RSI near 70 warns of potential short-term pullback

- Key breakout above $1.13960 opens the door to $1.14895 and $1.15533 targets

The euro continues its strong upward trajectory against the dollar, trading around $1.14158 after breaking above the psychological $1.13960 pivot. The bullish trend remains intact, supported by a steep ascending structure and consistent higher highs. Price action has extended well beyond the 50 EMA ($1.10505), underlining bullish dominance.

Immediate resistance lies at $1.14661, and a break above could expose $1.14895, the next logical technical target. Beyond that, $1.15533 becomes relevant based on the 2.618 Fibonacci extension.

On the downside, $1.13330 serves as immediate support, followed by $1.13015 and $1.12505. The Relative Strength Index at 70.50 suggests momentum remains elevated, though near-term exhaustion is possible. Traders should monitor potential profit-taking around $1.14895.

The bullish setup remains favorable as long as EUR/USD holds above $1.13960. A confirmed break above resistance could fuel further upside, but overbought signals may prompt a brief pause or consolidation.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.13960

Take Profit – 1.14895

Stop Loss – 1.13330

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$935/ -$630

Profit & Loss Per Mini Lot = +$93/ -$63