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Wednesday 16th April 2025: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bearish 

Overall momentum of the chart: Bearish

Price could make a bearish continuation toward the 1st support. Additionally, the price is below the bearish Ichimoku cloud, which suggests a bearish trend

Pivot: 100.25

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

1st support: 99.00
Supporting reasons: Identified as a swing low support, indicating a potential area where the price could stabilize once again.

1st resistance: 101.37
Supporting reasons: Identified as a pullback resistance that aligns with the 50% Fibonacci retracement, indicating a potential level that could cap further upward movement.

EUR/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. Additionally, the price is above the bullish Ichimoku cloud, which suggests a bullish trend

Pivot: 1.1200

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

1st support: 1.0949
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.1526
Supporting reasons: Identified as a pullback resistance that aligns with the 100% Fibonacci projection, indicating a potential area that could halt any further upward movement.

EUR/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: 160.44

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

1st support: 158.36
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: q68.26
Supporting reasons: Identified as a multi 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 and potentially make a bullish bounce off this level to rise toward the 1st resistance.

Pivot: 0.8529

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

1st support: 0.8448
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could stabilize once more.

1st resistance: 0.8717
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could make a bullish breakout of the pivot and rise toward the 1st resistance. Additionally, the price is above the bullish Ichimoku cloud, which suggests a bullish trend

Pivot: 1.3203

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

1st support: 1.3040
Supporting reasons: Identified as a pullback support, acting as a potential level where the price could stabilize once again.

1st resistance: 1.3342
Supporting reasons: Identified as a resistance that aligns with the 127.2% Fibonacci extension, indicating a potential level that could cap further upward movement.

GBP/JPY:

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: 189.97
Supporting reasons: Identified as an overlap resistance that aligns with the 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 184.95

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

1st resistance: 194.70
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

USD/CHF:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could rise towards the pivot in the short term before reversing off and falling towards 1st support

Pivot: 0.8370
Supporting reasons: Identified as a pullback resistance that aligns with the 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 0.8105
Supporting reasons: Identified as a multi-swing low support, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8597
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

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

Pivot: 142.01

Supporting reasons: Identified as a swing low support that aligns with the 78.6% Fibonacci projection and the 100% Fibonacci projection, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 139.85
Supporting reasons: Identified as an overlap support, suggesting a potential area where the price could stabilize once more.

1st resistance: 144.39
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: 1.4063

Supporting reasons: Identified as a pullback resistance that aligns with 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: 1.3839
Supporting reasons: Identified as a swing-low support, indicating a key level where the price could stabilize once more.

1st resistance: 1.4165
Supporting reasons: Identified as a pullback resistance that aligns close to a 50% 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 has made a bullish bounce off the pivot and could potentially rise toward the 1st resistance.

Pivot: 0.6340
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 0.6267

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

1st resistance: 0.6416
Supporting reasons: Identified as a swing-high 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 toward the 1st resistance.

Pivot: 0.5887
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 0.5828

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

1st resistance: 0.6024

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

US30 (DJIA):

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 39,318.40

Supporting reasons: Identified as an overlap support that aligns close to a 38.2% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a minor rebound.

1st support: 36,918.19

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

1st resistance: 41,268.90

Supporting reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 20,301.00
Supporting reasons: Identified as an overlap support that aligns close to a 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a minor rebound.

1st support: 19,507.15

Supporting reasons: Identified as a multi-swing-low support that aligns close to a 78.6% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 21,505.00
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.

US500 (S&P 500): 

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 5,242.95

Supporting reasons: Identified as an overlap support that aligns close to a 38.2% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a minor rebound.

1st support: 4,878.15

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

1st resistance: 5,508.00

Supporting reasons: Identified as a pullback resistance that aligns close to a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

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: 83,233.82
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 79,497.37
Supporting reasons: Identified as a swing-low support that aligns close to a 61.8% Fibonacci retracement, indicating a potential level where the price could stabilize once more.

1st resistance: 88,428.80
Supporting reasons: Identified as a multi-swing-high resistance that aligns close to a 78.6% Fibonacci projection, 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: 1,765.71
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: 1,438.35
Supporting reasons: Identified as a swing-low support, indicating a potential level where the price could stabilize once again.

1st resistance: 1,940.48
Supporting reasons: Identified as an overlap resistance that aligns with a 38.2% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price has reversed close to the pivot and could potentially fall toward the 1st support.

Pivot: 62.70

Supporting reasons: Identified as a swing-high 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: 58.85
Supporting reasons: Identified as a swing-low support that aligns with a 50% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 65.96
Supporting reasons: Identified as a pullback resistance that aligns close to 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: 3167.82

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

1st support: 3057.82
Supporting reasons: Identified as a pullback support, acting as a potential level where price could stabilize once again.

1st resistance: 3295.43
Supporting reasons: Identified as a resistance that aligns with the 100% Fibonacci projection and the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

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