ICMarket

Monday 21st April 2025: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could fall toward the pivot in the short term and potentially make a bullish bounce off this level to rise toward the 1st resistance. 

Pivot: 97.54

Supporting reasons: Identified as a pullback support that aligns with the 127.2% Fibonacci extension, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 94.79

Supporting reasons: Identified as a swing low support, indicating a potential area where the price could stabilize once again.

1st resistance: 100.18
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.

Pivot: 1.1532

Supporting reasons: Identified as a pullback resistance that aligns with the 100% Fibonacci projection and the 127.2% Fibonacci extension, indicating a potential area where selling pressures could intensify.

1st support: 1.1198
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.1710
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

EUR/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could potentially make a bullish continuation toward the 1st resistance.

Pivot: 163.25

Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 158.44
Supporting reasons: Identified as an overlap support that aligns with the 61.8% Fibonacci retracement, indicating a potential area where the price could stabilize once again.

1st resistance: 166.58
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

EUR/GBP:

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could fall toward the pivot in the short term and potentially make a bullish bounce off this level to rise toward the 1st resistance. 

Pivot: 0.8472

Supporting reasons: Identified as a pullback support that aligns with the 61.8% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 0.8326
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 0.9696
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.

Pivot: 1.3431

Supporting reasons: Identified as an overlap resistance that aligns with the 61.8% Fibonacci projection, indicating a potential area where selling pressures could intensify.

1st support: 1.3102
Supporting reasons: Identified as a pullback support, acting as a potential level where the price could stabilize once again.

1st resistance: 1.3613
Supporting reasons: Identified as a pullback resistance that aligns close to the 78.6% Fibonacci projection, indicating a potential level that could cap further upward movement.

GBP/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could potentially make a bearish continuation toward the 1st support.

Pivot: 189.50
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 184.69

Supporting reasons: Identified as a swing low support that aligns close to the 127.2% Fibonacci extension, indicating a potential level where the price could stabilize once more.

1st resistance: 192.40
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

USD/CHF:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could fall toward the pivot in the short term and potentially make a bullish bounce off this level to rise toward the 1st resistance. 

Pivot: 0.7860

Supporting reasons: Identified as a pullback support that aligns with the 127.2% Fibonacci extension, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 0.7699
Supporting reasons: Identified as a multi-swing low support that aligns with the 161.8% Fibonacci extension, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8383
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could fall toward the pivot in the short term and potentially make a bullish bounce off this level to rise toward the 1st resistance. 

Pivot: 140.19

Supporting reasons: Identified as a swing low support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 137.22
Supporting reasons: Identified as an overlap support, suggesting a potential area where the price could stabilize once more.

1st resistance: 144.88
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

 USD/CAD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.

Pivot: 1.3859

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum. 

1st support: 1.3608
Supporting reasons: Identified as an overlap support that aligns with a 78.6% Fibonacci projection, indicating a key level where the price could stabilize once more.

1st resistance: 1.3959
Supporting reasons: Identified as an overlap resistance that aligns close to a 23.6% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

AUD/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance.

Pivot: 0.6328
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 0.6205

Supporting reasons: Identified as a pullback support, suggesting a potential area where the price could stabilize once again.

1st resistance: 0.6545
Supporting reasons: Identified as an overlap resistance that aligns with a 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance.

Pivot: 0.5911
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 0.5822

Supporting reasons: Identified as an overlap support, suggesting a potential area where the price could stabilize once more.

1st resistance: 0.6050

Supporting reasons: Identified as an overlap resistance that aligns with a 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price has made a bearish reversal off the pivot and could potentially fall toward the 1st support.

Pivot: 40,856.80

Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.

1st support: 37,234.90

Supporting reasons: Identified as a swing-low support that aligns close to a 61.8% Fibonacci projection, indicating a potential level where the price could stabilize once again.

1st resistance: 42,629.60

Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.

Pivot: 21,505.00
Supporting reasons: Identified as a swing-high resistance that aligns close to a 61.8% Fibonacci retracement, indicating a potential area where selling pressures could intensify. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.

1st support: 19,539.06

Supporting reasons: Identified as a swing-low support, indicating a key level where the price could stabilize once more.

1st resistance: 23,374.91
Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential area that could halt any further upward movement.

US500 (S&P 500): 

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price has made a bearish reversal close to the pivot and could potentially fall toward the 1st support.

Pivot: 5,532.40

Supporting reasons: Identified as a pullback resistance that aligns close to a 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.

1st support: 4,952.50

Supporting reasons: Identified as a swing-low support that aligns close to a 61.8% Fibonacci projection, indicating a potential level where the price could stabilize once again.

1st resistance: 5,778.60

Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bullish
Overall momentum of the chart: Neutral

Price has made a bullish bounce off the pivot and could potentially rise toward the 1st resistance.

Pivot: 83,570.46
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 76,555.03
Supporting reasons: Identified as a multi-swing-low, indicating a potential level where the price could stabilize once more.

1st resistance: 94,923.57
Supporting reasons: Identified as an overlap resistance that aligns close to a 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

ETH/USD (Ethereum):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.

Pivot: 2,085.38
Supporting reasons: Identified as an overlap resistance that aligns close to a 23.6% Fibonacci retracement, indicating a potential area where selling pressures could intensify. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.

1st support: 1,451.43
Supporting reasons: Identified as a swing-low support, indicating a potential level where the price could stabilize once again.

1st resistance: 2,524.21
Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.

Pivot: 65.64

Supporting reasons: Identified as a pullback resistance that aligns with a 61.8 Fibonacci retracement, indicating a potential area where selling pressures could intensify. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.

1st support: 57.62
Supporting reasons: Identified as a swing-low support, indicating a key level where the price could stabilize once more.

1st resistance: 71.18
Supporting reasons: Identified as a swing-high resistance that aligns with a 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance.

Pivot: 3169.58

Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 2957.67
Supporting reasons: Identified as an overlap support, acting as a potential level where price could stabilize once again.

1st resistance: 3422.37
Supporting reasons: Identified as a resistance that aligns with the 78.6% Fibonacci projection, indicating a potential area that could halt any further upward movement.

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