ICMarket

Thursday 27th June 2024: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bullish
Overall momentum of the chart: Bullish

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

Pivot: 105.92
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up for price to resume the uptrend.

1st support: 105.72
Supporting reasons: Identified as a pullback support, suggesting a significant area where price could find strong support to halt any further downward movements.

1st resistance: 106.48
Supporting reasons: Identified as a multi-swing-high resistance, indicating a historical point where previous rallies have faced selling pressure or reversed.

EUR/USD:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price is trading close to the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 1.0671
Supporting reasons: Identified as a pullback support that aligns with a 78.6% Fibonacci retracement level, indicating a potential area where buying interests could pick up.

1st support: 1.0634
Supporting reasons: Identified as a pullback support, suggesting a significant area that could halt any further downward movements.

1st resistance: 1.0715
Supporting reasons: Identified as a pullback resistance that aligns with a 61.8% Fibonacci retracement level, indicating a historical point where previous rallies have faced selling pressure or reversed.

EUR/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 170.87
Supporting reasons: Identified as an overlap support that aligns with a 23.6% Fibonacci retracement level, indicating a potential area where buying interests could pick up for price to resume the uptrend.

1st support: 169.57
Supporting reasons: Identified as an overlap support that aligns with a 50% Fibonacci retracement level, suggesting a significant area where previous declines have found strong support.

1st resistance: 172.97
Supporting reasons: Identified as a resistance that aligns with a 161.80% Fibonacci extension level, indicating a potential zone where selling pressures could intensify.

EUR/GBP:

Potential Direction: Bearish
Overall momentum of the chart: Neutral

Price could rise towards the pivot and potentially make a bearish reaction off this level to drop towards the 1st support.

Pivot: 0.8490
Supporting reasons: Identified as a pullback resistance that aligns with a 38.2% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.

1st support: 0.8435
Supporting reasons: Identified as a pullback support that aligns with a 50% Fibonacci retracement level, suggesting a significant area where previous declines have found strong support.

1st resistance: 0.8536
Supporting reasons: Identified as an overlap resistance that aligns with a 61.8% Fibonacci retracement level, indicating a historical point where previous rallies have faced selling pressure or reversed.

GBP/USD:

Potential Direction: Bullish
Overall momentum of the chart: Neutral

Price is trading close to the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 1.2606
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to stage a minor rebound.

1st support: 1.2511
Supporting reasons: Identified as a pullback support that aligns with a 61.8% Fibonacci retracement level, suggesting a significant area where previous declines have found strong support.

1st resistance: 1.2702
Supporting reasons: Identified as a pullback resistance that aligns with a 38.2% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.

GBP/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price is trading close to the pivot and could potentially make a bearish reaction off this level to drop towards the 1st support.

Pivot: 203.04
Supporting reasons: Identified as a pullback resistance that aligns with a confluence of Fibonacci levels i.e. the 61.8% projection and the 161.8% extension, indicating a significant area where selling pressures could intensify.

1st support: 201.37
Supporting reasons: Identified as an overlap support, suggesting a potential area where buying interests could pick up to resume the uptrend.

1st resistance: 204.60
Supporting reasons: Identified as a resistance that aligns with a 78.6% Fibonacci projection level, indicating a potential area that could halt further upward movement.

USD/CHF:

Potential Direction: Bearish
Overall momentum of the chart: Neutral

Price could rise towards the pivot and potentially make a bearish reaction off this level to drop towards the 1st support.

Pivot: 0.8989
Supporting reasons: Identified as an overlap resistance that aligns with a 50% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.

1st support: 0.8918
Supporting reasons: Identified as a pullback support, suggesting a significant area where previous declines have found strong support.

1st resistance: 0.9060
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt further upward movement.

USD/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 159.39
Supporting reasons: Identified as a pullback resistance that aligns with a 23.6% Fibonacci retracement level, indicating a potential area where buying interests could pick up for price to resume the uptrend.

1st support: 158.33
Supporting reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement level, suggesting a significant area where price could find strong support.

1st resistance: 162.51
Supporting reasons: Identified as a resistance that aligns with a 127.2% Fibonacci extension level, indicating a potential area that could halt further upward movement.

USD/CAD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 1.3677

Supporting reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement level, indicating a potential area where buying interests could pick up.

1st support: 1.3645

Supporting reasons: Identified as a swing-low support that aligns close to a 78.6% Fibonacci retracement level, suggesting a potential area where previous declines have found strong support.

1st resistance: 1.3722

Supporting reasons: Identified as a pullback resistance that aligns close to a 61.8% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.

AUD/USD:

Potential Direction: Bearish

Overall momentum of the chart: Neutral

Price is rising towards the pivot and could potentially make a bearish reaction off this level to drop towards the 1st support.

Pivot: 0.6679

Supporting reasons: Identified as a pullback resistance that aligns with a 78.6% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.

1st support: 0.6634

Supporting reasons: Identified as a pullback support that aligns close to a 50% Fibonacci retracement level, suggesting a significant area where price has found support recently.

1st resistance: 0.6706

Supporting reasons: Identified as a multi-swing-high resistance, indicating a significant area where previous rallies have faced strong selling pressures.

NZD/USD

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise towards the pivot and potentially make a bearish reaction off this level to drop towards the 1st support.

Pivot: 0.6100

Supporting reasons: Identified as a pullback resistance that aligns with a 23.6% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.

1st support: 0.6037

Supporting reasons: Identified as a pullback support that aligns with a 50% Fibonacci retracement level, indicating a potential area that could halt further downward movement.

1st resistance: 0.6144

Supporting reasons: Identified as a pullback resistance that aligns with a 50% Fibonacci retracement level, suggesting a significant area where selling pressures could intensify.

US30 (DJIA):

Potential Direction: Bullish

Overall Momentum of the Chart: Neutral

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

Pivot: 39,945.31

Supporting Reasons: Identified as an overlap support that aligns with a 50% Fibonacci retracement level, indicating a potential area where buying interests could pick up for price to resume the uptrend.

1st Support: 38,793.10

Supporting Reasons: Identified as a pullback support that aligns with a 61.8% Fibonacci retracement level, suggesting a significant area where price has found support recently.

1st Resistance: 39,622.34

Supporting Reasons: Identified as an overlap resistance that aligns close to 78.6% Fibonacci retracement level, indicating a significant area where previous rallies have faced strong selling pressures.

DE40 (DAX):

Potential Direction: Bullish

Overall Momentum of the Chart: Neutral

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

Pivot: 18,059.47

Supporting Reasons: Identified as a pullback support that aligns close to a 78.6% Fibonacci retracement level, indicating a potential area where buying interests could pick up.

1st Support: 17,980.50

Supporting Reasons: Identified as a swing-low support, indicating a significant area where price has found strong support recently.

1st Resistance: 18,272.20

Supporting Reasons: Identified as a pullback resistance, indicating a significant area where selling pressures could intensify.

US500 (S&P 500): 

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price is trading close to the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 5,448.66

Supporting reasons: Identified as an overlap support that aligns close to a 23.6% Fibonacci retracement level, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 5,404.64

Supporting reasons: Identified as a pullback support that aligns close to a 38.2% Fibonacci retracement level, indicating a significant area where price has found strong support recently.

1st resistance: 5,514.06

Supporting reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci projection level, suggesting a critical area where selling pressures may intensify and potentially halt further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

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

Pivot: 59,267.78

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

1st support: 56,802.43

Supporting reasons: Identified as a swing-low support, indicating a significant area where price has found strong support previously.

1st resistance: 61,967.65

Supporting reasons: Identified as a pullback resistance, indicating a potential barrier where selling pressures could intensify.

ETH/USD (Ethereum):

Potential Direction: Bullish

Overall Momentum of the Chart: Bearish

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

Pivot: 3,276.36

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

1st Support: 3,064.03

Supporting Reasons: Identified as a pullback support that aligns close to a 78.6% Fibonacci retracement level, indicating a significant area where price has found support recently.

1st Resistance: 3,422.86

Supporting Reasons: Identified as a pullback resistance that aligns with a 50% Fibonacci retracement level, indicating a historical barrier where selling pressures may be encountered.

WTI/USD (Oil):

Potential Direction: Bullish

Overall Momentum of the Chart: Neutral

Price is trading close to the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 80.91

Supporting Reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up.

1st Support: 79.43

Supporting Reasons: Identified as a pullback support, indicating a significant area where price could find strong support.

1st Resistance: 82.42

Supporting Reasons: Identified as a pullback resistance, indicating a potential barrier where selling pressures may be encountered.

XAU/USD (GOLD):

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 2,286.33
Supporting reasons: Identified as a multi-swing-low support, indicating a potential area where buying interests could pick up to stage a minor rebound.

1st support: 2,265.71
Supporting reasons: Identified as an overlap support that aligns with a 61.8% Fibonacci retracement level, suggesting a significant area where price could find support.

1st resistance: 2,334.42
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

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