ICMarket

Monday 3rd March 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: 107.64
Supporting reasons: Identified as a pullback resistance that aligns with the 38.2% Fibonacci retracement, indicating a potential area where selling pressure could emerge.

1st support: 106.09
Supporting reasons: Identified as an overlap support that aligns with the 38.2% Fibonacci retracement, indicating as a potential area where price could stabilize before continuing higher.

1st resistance: 109.45
Supporting reasons: Identified as a multi swing high resistance, indicating a potential level that could cap 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 head towards the 1st resistance.

Pivot: 1.0343
Supporting reasons: Identified as a pullback support that aligns close to the 61.8% Fibonacci retracement, indicating a potential area where price could rebound.

1st support: 1.0225
Supporting reasons: Identified as a multi swing low support, indicating as a potential area where price could stabilize before continuing higher.

1st resistance: 1.0610
Supporting reasons: Identified as an overlap resistance that aligns close to the 127.2% Fibonacci extension and the 38.2% Fibonacci retracement, indicating a potential level where price could face selling pressure.

EUR/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.

Pivot: 155.65
Supporting reasons: Identified as a multi-swing low support, indicating a potential area where price could rebound.

1st support: 153.13
Supporting reasons: Identified as a swing low support, indicating as a potential area where price could stabilize before continuing higher.

1st resistance: 159.69
Supporting reasons: Identified as a pullback resistance,  indicating a potential level where price could face selling pressure.

EUR/GBP:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.

Pivot: 0.8225
Supporting reasons: Identified as a swing low support, indicating a potential area where price could rebound.

1st support: 0.8166
Supporting reasons: Identified as a support that aligns with the 127.2% Fibonacci extension, indicating as a potential area where price could stabilize before continuing higher.

1st resistance: 0.8297
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bulish
Overall momentum of the chart: Bullish

Price could potentially drop further to the pivot in the short-term before bouncing from there and rising to the 1st resistance.

Pivot: 1.2501
Supporting reasons: Identified as a pullback support that aligns close to the 38.2% Fibonacci retracement, indicating a potential level where buyers could step in.

1st support: 1.2328
Supporting reasons: Identified as an overlap support that aligns with the 61.8% Fibonacci retracement, acting as a potential level where price could stabilize before continuing higher.

1st resistance: 1.2858
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

GBP/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

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

Pivot: 189.69
Supporting reasons: Identified as an overlap resistance that aligns with the 50% Fibonacci retracement, indicating a potential area where selling pressure could emerge.

1st support: 184.54
Supporting reasons: Identified as a multi-swing low support that aligns close to the 100% Fibonacci projection, indicating a potential level where price could stabilize before continuing higher.

1st resistance: 194.72
Supporting reasons: Identified as an overlap resistance, indicating a potential level where price could face selling pressure.

USD/CHF:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 0.9035
Supporting reasons: Identified as a pullback resistance that aligns with the 50% Fibonacci retracement, indicating a potential area where selling pressure could emerge.

1st support: 0.8906
Supporting reasons: Identified as an overlap support,  indicating a potential level where price could face selling pressure.

1st resistance: 0.9171
Supporting reasons: Identified as a swing – high resistance, indicating a potential level where price could face selling pressure.

USD/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

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

Pivot: 151.18
Supporting reasons: Identified as a pullback resistance that aligns with the 23.6% Fibonacci retracement, indicating a potential area where selling pressure could emerge.

1st support: 147.17
Supporting reasons: Identified as a pullback support that aligns with the 61.8% Fibonacci retracement and the 100% Fibonacci projection, suggesting a potential area where price could stabilize before resuming its upward movement.

1st resistance: 154.79
Supporting reasons: Identified as an overlap resistance that aligns with the 61.8% Fibonacci retracement, indicating a potential level where price could face selling pressure.

USD/CAD:

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: 1.4348

Supporting reasons: Identified as a pullback support that aligns with a 38.2% Fibonacci retracement, indicating a potential area where buying interests could pick up to resume the uptrend. The presence of a green Ichimoku Cloud adds further significance to the strength of the bullish momentum.

1st support: 1.4239
Supporting reasons: Identified as a pullback support that aligns close to a 78.6% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 1.4537
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.

AUD/USD:

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: 0.6313

Supporting reasons: Identified as a pullback 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: 0.6144

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

1st resistance: 0.6401
Supporting reasons: Identified as a swing-high resistance that aligns close to a 38.2% 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 could rise towards the pivot and potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 0.5687

Supporting reasons: Identified as an overlap 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: 0.5547

Supporting reasons: Identified as a swing-low support, suggesting a potential area where the price could stabilize once more.

1st resistance: 0.5761

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

Pivot: 43,294.84

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

1st support: 41,777.16

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

1st resistance: 45,042.77

Supporting reasons: Identified as a multi-swing-high resistance, 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: 22,177.80

Supporting reasons: Identified as a swing-low support, indicating a potential area where buying interests could pick up to resume the uptrend. The presence of a green Ichimoku Cloud adds further significance to the strength of the bullish momentum.

1st support: 21,293.20

Supporting reasons: Identified as a multi-swing-low support that aligns with a confluence of Fibonacci levels i.e. the 23.6% and 38.2% retracements, indicating a key level where the price could stabilize once more.

1st resistance: 22,568.53
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.

US500 (S&P 500): 

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: 5,819.28

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

1st support: 5,673.33

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

1st resistance: 6,138.20

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: Bearish

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

Pivot: 100,228.24

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

1st support: 83,663.24
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 more.

1st resistance: 107,158.91
Supporting reasons: Identified as a multi-swing-high resistance that aligns close to the all-time high, 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 towards the pivot and potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 2,813.23

Supporting reasons: Identified as a pullback resistance that aligns close to a 38.2% 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: 2,201.93
Supporting reasons: Identified as a multi-swing-low support, indicating a potential level where the price could stabilize once again.

1st resistance: 3,314.48
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.

WTI/USD (Oil):

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: 68.82

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

1st support: 66.66
Supporting reasons: Identified as a multi-swing-low support, indicating a key level where the price could stabilize once more.

1st resistance: 73.03
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.

XAU/USD (GOLD):

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: 2879.45
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressure could emerge.

1st support: 2788.35
Supporting reasons: Identified as a pullback support that aligns with the 50% Fibonacci retracement, acting as a potential level where price could stabilize before continuing higher.

1st resistance: 2952.32
Supporting reasons: Identified as a swing high resistance that aligns with the 161.8% Fibonacci extension, indicating a potential level where price could face selling pressure.

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