As we navigate through the midpoint of the trading week, key technical indicators reveal potential market movements across major currency pairs and commodities. This comprehensive review will provide insights into bearish and bullish trends, helping investors identify profitable opportunities amidst evolving market conditions.
Top 5 Bullish/Bearish Analysis
(If it’s in the red zone is bearish if it’s in the green zone it’s bullish)
US Dollar Index (DXY)
Potential Direction: Bearish
Overall Momentum: Bearish
The US Dollar Index (DXY) is poised for a potential bearish move. The price may react negatively off the pivot at 104.47 and drop to the first support level at 103.70. This pivot point is identified as a pullback resistance level, specifically at the 38.20% Fibonacci Retracement, indicating a likely area for sellers to enter the market. The first support level at 103.70 is a multi-swing low support level, signifying a critical zone where previous declines found support.
- Pivot: 104.47
- 1st Support: 103.70
- 1st Resistance: 105.16
EUR/USD
Potential Direction: Bearish
Overall Momentum: Bearish
EUR/USD remains below the bearish Ichimoku cloud, signaling further downside potential. The price could continue its bearish trend towards the first support at 1.0768, following a possible bearish reaction off the pivot at 1.0856. The pivot is an overlap resistance level, indicating where sellers might re-enter after a retracement.
- Pivot: 1.0856
- 1st Support: 1.0768
- 1st Resistance: 1.0913
EUR/JPY
Potential Direction: Bearish
Overall Momentum: Bearish
EUR/JPY is also below the bearish Ichimoku cloud, suggesting continued downward momentum. The price could head towards the first support at 163.99 after a potential bearish reaction off the pivot at 167.35. The pivot is a pullback resistance level, highlighting a zone where sellers could re-enter.
- Pivot: 167.35
- 1st Support: 163.99
- 1st Resistance: 169.96
EUR/GBP
Potential Direction: Bearish
Overall Momentum: Bearish
EUR/GBP could see a bearish reaction off the pivot at 0.8435, leading the price down to the first support at 0.8387. This pivot point is identified at the 50% Fibonacci Retracement, a typical area for sellers to enter after a retracement.
- Pivot: 0.8435
- 1st Support: 0.8387
- 1st Resistance: 0.8476
GBP/USD
Potential Direction: Bullish
Overall Momentum: Bearish
Despite the overall bearish momentum, GBP/USD could potentially make a bullish bounce off the pivot at 1.2854 and head towards the first resistance at 1.2934. The pivot is a pullback support level, aligning with the 61.80% Fibonacci Projection, indicating where buyers might step in after a retracement.
- Pivot: 1.2854
- 1st Support: 1.2778
- 1st Resistance: 1.2934
GBP/JPY
Potential Direction: Bullish
Overall Momentum: Bearish
GBP/JPY might experience a bullish bounce off the pivot at 197.16, targeting the first resistance at 201.29. The pivot is an overlap support level, suggesting an area where buyers could re-enter.
- Pivot: 197.16
- 1st Support: 193.40
- 1st Resistance: 201.29
USD/CHF
Potential Direction: Bullish
Overall Momentum: Bearish
USD/CHF could see a bullish bounce off the pivot at 0.8837, aiming for the first resistance at 0.8899. The pivot is a multi-swing high resistance level, indicating a potential zone for buyers.
- Pivot: 0.8837
- 1st Support: 0.8779
- 1st Resistance: 0.8899
USD/JPY
Potential Direction: Bearish
Overall Momentum: Bearish
USD/JPY could continue its bearish trend towards the first support at 151.92, following a bearish reaction off the pivot at 153.63. The pivot is a pullback resistance level.
- Pivot: 153.63
- 1st Support: 151.92
- 1st Resistance: 155.31
USD/CAD
Potential Direction: Bearish
Overall Momentum: Bullish
USD/CAD is rising towards the pivot at 1.3832 and may potentially make a bearish reversal to the first support at 1.3779. The pivot is identified as a multi-swing-high resistance.
- Pivot: 1.3832
- 1st Support: 1.3779
- 1st Resistance: 1.3888
AUD/USD
Potential Direction: Bearish
Overall Momentum: Bearish
AUD/USD has broken through the pivot at 0.6562 and could fall towards the first support at 0.6529. The pivot was previously a swing-low support.
- Pivot: 0.6562
- 1st Support: 0.6529
- 1st Resistance: 0.6585
NZD/USD
Potential Direction: Bullish
Overall Momentum: Bearish
NZD/USD is approaching the pivot at 0.5883 and could make a bullish bounce to the first resistance at 0.5948. The pivot is a swing-low support.
- Pivot: 0.5883
- 1st Support: 0.5779
- 1st Resistance: 0.5948
US30 (DJIA)
Potential Direction: Bullish
Overall Momentum: Bearish
The US30 (DJIA) might see a bullish bounce off the pivot at 39,607.55, aiming for the first resistance at 40,467.11. The pivot aligns with a 78.6% Fibonacci retracement level.
- Pivot: 39,607.55
- 1st Support: 38,980.78
- 1st Resistance: 40,467.11
DE40 (DAX)
Potential Direction: Bearish
Overall Momentum: Bearish
DE40 (DAX) could fall towards the pivot at 18,323.60 and potentially break below to the first support at 18,168.28. The pivot is identified as a potential breakout level.
- Pivot: 18,323.60
- 1st Support: 18,168.28
- 1st Resistance: 18,505.94
US500 (S&P 500)
Potential Direction: Bullish
Overall Momentum: Bearish
The US500 (S&P 500) might see a bullish bounce off the pivot at 5,408.81, targeting the first resistance at 5,503.91. The pivot aligns with multiple Fibonacci levels.
- Pivot: 5,408.81
- 1st Support: 5,339.76
- 1st Resistance: 5,503.91
BTC/USD (Bitcoin)
Potential Direction: Bullish
Overall Momentum: Neutral
Bitcoin might bounce off the pivot at 63,507.86 and rise towards the first resistance at 66,374.96. The pivot is a pullback support level.
- Pivot: 63,507.86
- 1st Support: 59,546.99
- 1st Resistance: 66,374.96
ETH/USD (Ethereum)
Potential Direction: Bearish
Overall Momentum: Bearish
Ethereum has broken through the pivot at 3,276.36 and could fall towards the first support at 3,052.53. The pivot was previously a pullback support.
- Pivot: 3,276.36
- 1st Support: 3,052.53
- 1st Resistance: 3,377.15
WTI/USD (Oil)
Potential Direction: Bullish
Overall Momentum: Bearish
Oil prices might see a bullish bounce off the pivot at 77.53, heading towards the first resistance at 79.24. The pivot aligns with a 61.8% Fibonacci retracement level.
- Pivot: 77.53
- 1st Support: 75.45
- 1st Resistance: 79.24
XAU/USD (Gold)
Potential Direction: Bearish
Overall Momentum: Bearish
Gold might react negatively off the pivot at 2,391.29 and drop to the first support at 2,361.72. The pivot is a pullback resistance level.
- Pivot: 2,391.29
- 1st Support: 2,361.72
- 1st Resistance: 2,423.81
| 📈 Investment Opportunity | 📊 Risk Tolerance | 💰 Profit Potential | 🔍 Key Factors |
|---|---|---|---|
| Gold (XAU/USD) | Moderate | High | Safe-haven demand, inflation |
| Bitcoin (BTC/USD) | High | High | Market sentiment, regulatory news |
| EUR/USD | Moderate | Moderate | Eurozone economic data, US monetary policy |
| S&P 500 (US500) | Low | Moderate | US economic data, corporate earnings |
| Oil (WTI/USD) | Moderate | High | Supply-demand dynamics, geopolitical events |