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Thursday 20th February 2025: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 107.41

Supporting reasons: Identified as an overlap resistance that aligns close to a 38.2% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 106.59
Supporting reasons: Identified as an overlap support, indicating a potential level where price could find support once more.

1st resistance: 108.41
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

EUR/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

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

Pivot: 1.0390

Supporting reasons: Identified as a pullback support that aligns close to a 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound. 

1st support: 1.0345

Supporting reasons: Identified as an overlap support that aligns close to a 78.6% Fibonacci retracement, indicating a potential level where price could find support once again.

1st resistance: 1.0522
Supporting reasons:  Identified as a multis-wing-high resistance, indicating a potential area that could halt any further upward movement.

EUR/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

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

Pivot: 157.10

Supporting reasons: Identified as a pullback support that aligns close to the 178.6% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a minor rebound.

1st support: 155.57

Supporting reasons: Identified as a support, indicating a potential level where the price could find support once more.

1st resistance: 159.45
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

EUR/GBP:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

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

Pivot: 0.8272

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

1st support: 0.8224

Supporting reasons: Identified as a multi-swing-low support, indicating a potential level where the price could find support once again.

1st resistance: 0.8319
Supporting reasons: Identified as a pullback resistance that aligns with a 38.2% Fibonacci retracement,  indicating a potential area that could halt any further upward movement.

GBP/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

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

Pivot: 1.2516

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

1st support: 1.2365

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

1st resistance: 1.2721
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

GBP/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

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

Pivot: 189.21

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: 187.10
Supporting reasons: Identified as an overlap support that aligns with the 61.8% Fibonacci retracement, indicating a potential level where price could find support once again.

1st resistance: 195.88
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

USD/CHF:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

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

Pivot: 0.9058

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

1st support: 0.8974
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could find support once again.

1st resistance: 0.9098
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

USD/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

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

Pivot: 149.65

Supporting reasons: Identified as a swing low support that aligns close to a 127.2% Fibonacci extension, indicating a potential level where buying interests could pick up to stage a rebound.

1st support: 148.64
Supporting reasons: Identified as a swing-low support that aligns close to a 161.8% Fibonacci extension, indicating a potential level where the price could find support once more.

1st resistance: 151.23
Supporting reasons: Identified as a pullback resistance,, indicating a potential area that could halt any further upward movement.

USD/CAD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

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

Pivot: 1.4276

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

1st support: 1.4138
Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 1.4396
Supporting reasons: Identified as a pullback resistance that aligns with the 38.2% Fibonacci retracement, indicating a potential area that could halt any further upward movement. 

AUD/USD:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

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

Pivot: 0.6377

Supporting reasons: Identified as a multi-swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.6306

Supporting reasons: Identified as a pullback support that aligns with a 23.6% Fibonacci retracement, suggesting a potential area where the price could stabilize once again.

1st resistance: 0.6421
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bullish
Overall momentum of the chart: Bullish

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

Pivot: 0.5693

Supporting reasons: Identified as an overlap support that aligns with a 38.2% Fibonacci retracement, indicating a potential level where buying interests could pick up to resume the uptrend.

1st support: 0.5665

Supporting reasons: Identified as a pullback support that aligns close to a 61.8% Fibonacci retracement, suggesting a potential area where the price could stabilize once more.

1st resistance: 0.5755

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

US30 (DJIA):

Potential Direction: Neutral
Overall momentum of the chart: Bullish

Price could fluctuate between the 1st resistance and 1st support 

1st support: 44,152.52

Supporting reasons: Identified as an overlap support that aligns close to a 78.6% Fibonacci retracement, indicating a potential level where the price could stabilize once again.

1st resistance: 44,754.70

Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bearish
Overall momentum of the chart: Bullish

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

Pivot: 22,554

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

1st support: 21,927.70

Supporting reasons: Identified as a pullback support that aligns close to a 50% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 22,894.54
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: 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 the 1st resistance.

Pivot: 6,100.37

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

1st support: 6,039.57

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 6,190.65

Supporting reasons: Identified as a resistance that aligns with a 100% Fibonacci projection, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 98,853.40

Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential level where selling pressures could intensify.

1st support: 92,857.02
Supporting reasons: Identified as a swing-low support, indicating a potential level where the price could stabilize once more.

1st resistance: 101,963.41
Supporting reasons: Identified as a swing-high resistance that aligns close to a 61.8% Fibonacci retracement and the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

ETH/USD (Ethereum):

Potential Direction: Neutral
Overall momentum of the chart: Bearish

Price could fluctuate between the 1st resistance and 1st support 

1st support: 2,472.17
Supporting reasons: Identified as a swing-low support that aligns close to a 50% Fibonacci retracement, indicating a potential level where the price could stabilize once again.

1st resistance: 2,856.71
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bullish
Overall momentum of the chart: Bearish

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

Pivot: 70.45

Supporting reasons: Identified as a swing lowe support that aligns close to the 61.8% Fibonacci projection indicating a potential area where buying interests could pick up to stage a rebound 

1st support: 68.61
Supporting reasons: Identified as a pullback support that aligns with a confluence of Fibonacci levels i.e. two 161.8% extensions and the 100% Fibonacci projection, indicating a key level where the price could stabilize once more.

1st resistance: 72.93
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

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

Pivot: 2,938.32

Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential area where selling pressures could intensify.

1st support: 2,873.72

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could find support once again.

1st resistance: 2,979.04

Supporting reasons: Identified as a resistance that aligns with a 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

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