ICMarket

Monday 25th November 2024: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bearish
Overall momentum of the chart: Bullish

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

Pivot: 107.80
Supporting reasons: Identified as an overlap resistance close to 127.20% Fibonacci extension, indicating a potential area where selling pressures could intensify.

1st support: 104.46
Supporting reasons: Identified as an overlap support close to 50% Fibonacci retracement,, indicating a potential level where price could find support once more.

1st resistance: 109.60
Supporting reasons: Close to 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could potentially make a bearish reaction off the pivot and drop toward the 1st support 

Pivot: 1.0609
Supporting reasons: Identified as an overlap resistance aligns with the 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 1.0321

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

1st resistance: 1.0781
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 bearish reaction off the pivot and drop toward the 1st support 

Pivot: 162.29
Supporting reasons: Identified as a pullback esistance, indicating a potential area where selling pressures could intensify.

1st support: 157.60

Supporting reasons: Identified as a pullback support that aligns with 78.6% Fibonacci retracement, indicating a potential level where price could find support once more.

1st resistance: 166.43
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

EUR/GBP:

Potential Direction: Neutral

Overall momentum of the chart: Bearish

Price is exhibiting a neutral bias and could potentially fluctuate between the 1st support and the 1st resistance.

1st support: 0.8266

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

1st resistance: 0.8377
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

GBP/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could potentially make a bearish reaction off the pivot and drop toward the 1st support 

Pivot: 1.2679
Supporting reasons: Identified as an overlap resistance aligns with the 38.2% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 1.24824

Supporting reasons: aligns with the 127.20% Fibonacci extension, indicating a potential level where price could find support once more.

1st resistance:  1.2907
Supporting reasons: Identified as a pullback resistance aligns with the 78.6% Fibonacci retracement, 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: 193.15
Supporting reasons: Identified as a pullback support that aligns with 38.2% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 189.05
Supporting reasons: Identified as an overlap support that aligns close to a 61.8% Fibonacci retracement, indicating a key level where price could find support once more.

1st resistance: 196.95
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 reaction off the pivot and drop toward the 1st support 

Pivot: 0.8951
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.8779
Supporting reasons: Identified as a pullback support, indicating a potential level where price could find support once more.

1st resistance: 0.9040
Supporting reasons: Identified as a swing high resistance that aligns with the 78.6% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

USD/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

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

Pivot: 156.17
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 151.78
Supporting reasons: Identified as an overlap support, indicating a potential level where price could find support once again.

1st resistance: 158.41
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

USD/CAD:

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: 1.3880
Supporting reasons: Identified as pullback support, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 1.3765
Supporting reasons: Identified as pullback support, indicating a key level where price could find support once more.

1st resistance: 1.4102
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

AUD/USD:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 0.6558
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.

1st support: 0.6447
Supporting reasons: Identified as a swing-low support, suggesting a key support area where price could find support once again.

1st resistance: 0.6681
Supporting reasons: Identified as a swing-high resistance that aligns close to a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 0.5925
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.

1st support: 0.5814
Supporting reasons: Identified as a swing low support, suggesting a key support area where price could find support.

1st resistance: 0.6028
Supporting reasons: Identified as an overlap resistance that aligns close to a 38.2% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

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: 44,326.79

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

1st support: 43,330.61

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

1st resistance: 45,536.44

Supporting reasons: Aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

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: 19,233.67

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

1st support: 18,957.76

Supporting reasons: Identified as an overlap support, indicating a key level where price could find support once more.

1st resistance: 19,680.84
Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

US500 (S&P 500): 

Potential Direction: Neutral
Overall momentum of the chart: Bullish

Price is exhibiting a neutral bias and could potentially fluctuate between the 1st support and the 1st resistance.

1st support: 5,870.92

Supporting reasons: Identified as an overlap support that aligns with a 50% Fibonacci retracement, indicating a potential level where price could find support again.

1st resistance: 6,027.42
Supporting reasons: Identified as a swing-high resistance that aligns close to the all-time high, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bearish
Overall momentum of the chart: Bullish

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

Pivot: 199,335,70
Supporting reasons: Identified as a swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 91,873.84
Supporting reasons: Identified as a pullback support that aligns close to a 23.6% Fibonacci retracement, indicating a potential level where price could find support.

1st resistance: 106,351.69
Supporting reasons: Identified as a resistance that aligns with 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: Bullish

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

Pivot: 3,456.39
Supporting reasons: Identified as a swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 2921.94
Supporting reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement, indicating a potential level where price could find support once again.

1st resistance: 3,720.50
Supporting reasons: Identified as an overlap resistance close to 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 69.42
Supporting reasons: Identified as pullback support, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 66.57
Supporting reasons: Identified as a multi-swing-low support, indicating a key level where price could find support once again.

1st resistance: 73.00
Supporting reasons: Identified as an overlap resistance that aligns with a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):


Potential Direction: Bearish

Overall momentum of the chart: Bearish

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

Pivot: 2714.98
Supporting reasons: Identified as overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 2607.07

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

1st resistance: 2787.59
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

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