| Asset | Potential Direction | Pivot | 1st Support | 1st Resistance |
|---|---|---|---|---|
| DXY (US Dollar Index) π | Bullish | 101.99 | 100.81 | 103.65 |
| EUR/USD π | Bearish | 1.1107 | 1.0948 | 1.1279 |
| EUR/JPY π | Bearish | 164.48 | 157.95 | 170.74 |
| EUR/GBP π | Bullish | 0.8498 | 0.8427 | 0.8609 |
| GBP/USD π | Bearish | 1.2965 | 1.2858 | 1.3134 |
| GBP/JPY π | Bearish | 191.76 | 183.17 | 197.95 |
| USD/CHF π | Bearish | 0.8749 | 0.8500 | 0.8922 |
| USD/JPY π | Bearish | 150.88 | 146.48 | 154.76 |
| USD/CAD π | Bullish | 1.3596 | 1.3485 | 1.3756 |
| AUD/USD π | Bearish | 0.6693 | 0.6565 | 0.6784 |
| NZD/USD π | Bearish | 0.6144 | 0.6044 | 0.6200 |
| US30 (DJIA) π | Bearish | 40,901.78 | 39,956.90 | 41,277.57 |
| DE40 (DAX) π | Bearish | 18,544.40 | 18,003.90 | 18,873.20 |
| US500 (S&P 500) π | Bearish | 5,673.33 | 5,402.66 | 5,832.00 |
| BTC/USD (Bitcoin) π | Bearish | 61,687.65 | 54,036.82 | 68,173.09 |
| ETH/USD (Ethereum) π | Bearish | 2,863.34 | 2,085.55 | 3,316.28 |
| WTI/USD (Oil) π | Bullish | 73.14 | 70.35 | 80.03 |
| XAU/USD (Gold) π | Bearish | 2510.97 | 2469.28 | 2550.10 |
Introduction
Welcome to the market analysis for Monday, 19th August 2024. This detailed report provides insights into the key financial instruments, offering you the latest technical analysis and trading signals. Whether you’re a seasoned trader or a beginner, this guide will help you identify the best trading opportunities today. We cover major currency pairs, commodities, and indices, breaking down potential market directions, key pivot points, and critical support and resistance levels. Our goal is to equip you with the information you need to make informed trading decisions in the ever-changing financial markets.
DXY (US Dollar Index)
Potential Direction: Bullish
Overall Momentum: Bearish
The DXY (US Dollar Index) shows potential for a bullish bounce off the pivot level, aiming towards the first resistance.
- Pivot: 101.99
Supporting Reasons: The pivot is identified as an overlap support level, reinforced by the 78.60% Fibonacci retracement and 127.20% Fibonacci extension. This confluence of support may encourage buying activity. - 1st Support: 100.81
Supporting Reasons: Identified as swing low support, this level has historically halted declines, making it a strong base for a potential bullish reversal. - 1st Resistance: 103.65
Supporting Reasons: This overlap resistance level could present selling pressure, potentially stalling or confirming a continuation of the bullish move.
EUR/USD
Potential Direction: Bearish
Overall Momentum: Bullish
EUR/USD could potentially face a bearish reaction off the pivot, heading towards the first support level.
- Pivot: 1.1107
Supporting Reasons: The pivot acts as swing high resistance, supported by the 100% Fibonacci projection, suggesting a level where bullish momentum may reverse. - 1st Support: 1.0948
Supporting Reasons: This overlap support level has provided a stable base for previous declines, making it a potential target for a bearish move. - 1st Resistance: 1.1279
Supporting Reasons: Identified as swing high resistance, this level has historically faced selling pressure, making it a key area to watch if the price continues to rise.
EUR/JPY
Potential Direction: Bearish
Overall Momentum: Bearish
EUR/JPY shows potential for a bearish move off the pivot, aiming towards the first support level.
- Pivot: 164.48
Supporting Reasons: This pivot is a pullback resistance level, reinforced by the 50% Fibonacci retracement, indicating a key area where bearish momentum could resume. - 1st Support: 157.95
Supporting Reasons: Identified as an overlap support, this area has stabilized previous declines, making it a likely target for a bearish move. - 1st Resistance: 170.74
Supporting Reasons: This level, supported by the 78.60% Fibonacci retracement, suggests a significant resistance where bullish attempts may face selling pressure.
EUR/GBP
Potential Direction: Bullish
Overall Momentum: Bullish
EUR/GBP could potentially see a bullish bounce off the pivot, moving towards the first resistance level.
- Pivot: 0.8498
Supporting Reasons: The pivot is identified as pullback support, reinforced by the 50% Fibonacci retracement, indicating a potential area for bullish momentum to resume. - 1st Support: 0.8427
Supporting Reasons: This pullback support level, supported by the 78.60% Fibonacci retracement, suggests a strong support zone. - 1st Resistance: 0.8609
Supporting Reasons: Identified as multi-swing high resistance, this level could present selling pressure for bullish movements.
GBP/USD
Potential Direction: Bearish
Overall Momentum: Bullish
GBP/USD may see a bearish reaction off the pivot, heading towards the first support level.
- Pivot: 1.2965
Supporting Reasons: The pivot acts as pullback resistance, reinforced by the 78.60% Fibonacci retracement, suggesting a potential area where bearish momentum may resume. - 1st Support: 1.2858
Supporting Reasons: This pullback support level indicates a significant area where price may find support after a decline. - 1st Resistance: 1.3134
Supporting Reasons: Identified as swing high resistance, this level could present selling pressure for bullish movements.
GBP/JPY
Potential Direction: Bearish
Overall Momentum: Bearish
GBP/JPY shows potential for a bearish move off the pivot, aiming towards the first support level.
- Pivot: 191.76
Supporting Reasons: The pivot is identified as overlap resistance, indicating a potential level where the price might face selling pressure. - 1st Support: 183.17
Supporting Reasons: Identified as multi-swing low support, this level has historically provided support, making it a potential target for a bearish move. - 1st Resistance: 197.95
Supporting Reasons: This pullback resistance level, reinforced by the 61.80% Fibonacci retracement, suggests a potential reversal point where bullish attempts may falter.
USD/CHF
Potential Direction: Bearish
Overall Momentum: Bearish
USD/CHF could potentially continue its bearish trend towards the first support level.
- Pivot: 0.8749
Supporting Reasons: The pivot is identified as overlap resistance, supported by the 50% Fibonacci retracement, indicating a potential level where the price might encounter selling pressure. - 1st Support: 0.8500
Supporting Reasons: Identified as swing low support, this level has historically provided support during declines, making it a likely target for further bearish movement. - 1st Resistance: 0.8922
Supporting Reasons: This overlap resistance level, reinforced by the 78.60% Fibonacci retracement, suggests a potential reversal point where bullish attempts may struggle.
USD/JPY
Potential Direction: Bearish
Overall Momentum: Bearish
USD/JPY may see a bearish reaction off the pivot, heading towards the first support level.
- Pivot: 150.88
Supporting Reasons: The pivot acts as pullback support, indicating a potential level where a temporary rebound might occur before continuing the bearish trend. - 1st Support: 146.48
Supporting Reasons: This overlap support level suggests a significant area where previous declines have found buying interest, making it a target for bearish movement. - 1st Resistance: 154.76
Supporting Reasons: Identified as overlap resistance, this level, reinforced by the 61.80% Fibonacci retracement, marks a potential area where bullish attempts may face selling pressure.
USD/CAD
Potential Direction: Bullish
Overall Momentum: Bearish
USD/CAD could potentially bounce off the pivot, aiming towards the first resistance level.
- Pivot: 1.3596
Supporting Reasons: The pivot is identified as pullback support, suggesting a potential area where buying interest could pick up, leading to a minor rebound. - 1st Support: 1.3485
Supporting Reasons: This pullback support level, aligning closely with a 61.8% Fibonacci retracement, indicates a strong support area where price could stabilize. - 1st Resistance: 1.3756
Supporting Reasons: Identified as pullback resistance, this level could present a barrier to further upward movement.
AUD/USD
Potential Direction: Bearish
Overall Momentum: Bullish
AUD/USD may experience a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 0.6693
Supporting Reasons: The pivot acts as pullback resistance, aligned with a confluence of Fibonacci levels, including the 78.6% retracement and projection levels, indicating a potential area where selling pressure could intensify. - 1st Support: 0.6565
Supporting Reasons: This pullback support level suggests a significant area where price has recently found support, making it a potential target for a bearish move. - 1st Resistance: 0.6784
Supporting Reasons: Identified as swing-high resistance, this level aligns with a 100% Fibonacci projection, indicating a significant area that could halt further upward movement.
NZD/USD
Potential Direction: Bearish
Overall Momentum: Bullish
NZD/USD may see a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 0.6144
Supporting Reasons: The pivot acts as pullback resistance, aligned with a confluence of Fibonacci levels, including the 78.6% retracement and projection levels, indicating a potential area where selling pressure could intensify. - 1st Support: 0.6044
Supporting Reasons: This overlap support level suggests a strong support area where price could stabilize. - 1st Resistance: 0.6200
Supporting Reasons: Identified as swing-high resistance, this level aligns closely with a 100% Fibonacci projection, indicating a significant area that could halt further upward movement.
US30 (DJIA)
Potential Direction: Bearish
Overall Momentum: Bullish
US30 (DJIA) may experience a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 40,901.78
Supporting Reasons: The pivot is identified as pullback resistance, suggesting a potential area where selling pressure could intensify. - 1st Support: 39,956.90
Supporting Reasons: This pullback support level suggests a potential area where price could find support. - 1st Resistance: 41,277.57
Supporting Reasons: Identified as swing-high resistance, this level aligns closely with the all-time high, indicating a significant area that could halt further upward movement.
DE40 (DAX)
Potential Direction: Bearish
Overall Momentum: Bullish
DE40 (DAX) may experience a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 18,544.40
Supporting Reasons: The pivot is identified as pullback resistance, aligning closely with a 78.6% Fibonacci retracement, suggesting a potential area where selling pressure could intensify. - 1st Support: 18,003.90
Supporting Reasons: This pullback support level indicates a potential area where price could find support. - 1st Resistance: 18,873.20
Supporting Reasons: Identified as swing-high resistance, this level aligns closely with the all-time high, indicating a significant area that could halt further upward movement.
US500 (S&P 500)
Potential Direction: Bearish
Overall Momentum: Bullish
US500 (S&P 500) may experience a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 5,673.33
Supporting Reasons: The pivot is identified as swing-high resistance, aligned with a confluence of Fibonacci levels, including the 78.6% projection and 127.2% extension levels, suggesting a potential area where selling pressure could intensify. - 1st Support: 5,402.66
Supporting Reasons: This pullback support level suggests a potential area where price could find support. - 1st Resistance: 5,832.00
Supporting Reasons: Identified as resistance, this level aligns with a confluence of Fibonacci levels, including the 100% projection and 127.2% extension levels, indicating a critical area that could halt further upward movement.
BTC/USD (Bitcoin)
Potential Direction: Bearish
Overall Momentum: Neutral
BTC/USD could see a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 61,687.65
Supporting Reasons: The pivot is identified as pullback resistance, aligned with a 61.8% Fibonacci retracement, indicating a potential area where selling pressure could intensify. - 1st Support: 54,036.82
Supporting Reasons: This pullback support level aligns with a 61.8% Fibonacci retracement, indicating a significant area where price has found support in the past. - 1st Resistance: 68,173.09
Supporting Reasons: Identified as swing-high resistance, this level indicates a potential barrier that could halt further upward movement.
ETH/USD (Ethereum)
Potential Direction: Bearish
Overall Momentum: Neutral
ETH/USD could see a bearish reversal off the pivot, pulling back towards the first support level.
- Pivot: 2,863.34
Supporting Reasons: The pivot is identified as pullback resistance, aligned with a 50% Fibonacci retracement, indicating a potential area where selling pressure could intensify. The presence of a bearish Ichimoku Cloud adds further significance to the strength of this resistance zone. - 1st Support: 2,085.55
Supporting Reasons: This overlap support aligns with a 78.6% Fibonacci retracement, indicating a potential area where price could find support. - 1st Resistance: 3,316.28
Supporting Reasons: Identified as pullback resistance, this level aligns closely with a 78.6% Fibonacci retracement, indicating a historical barrier that could halt further upward movement.
WTI/USD (Oil)
Potential Direction: Bullish
Overall Momentum: Bearish
WTI/USD may experience a bullish bounce off the pivot, rising towards the first resistance level.
- Pivot: 73.14
Supporting Reasons: The pivot is identified as multi-swing-low support, aligned with a 61.8% Fibonacci projection, indicating a potential area where buying interest could stage a rebound. - 1st Support: 70.35
Supporting Reasons: This pullback support aligns with a 78.6% Fibonacci projection, indicating a significant area where price has found support in the past. - 1st Resistance: 80.03
Supporting Reasons: Identified as pullback resistance, this level aligns with a 61.8% Fibonacci retracement, indicating a potential barrier that could halt further upward movement.
XAU/USD (GOLD)
Potential Direction: Bearish
Overall Momentum: Bullish
XAU/USD could continue its bearish trend towards the first support level.
- Pivot: 2510.97
Supporting Reasons: The pivot is identified as pullback resistance, indicating a level where a reversal could occur as sellers potentially regain control. - 1st Support: 2469.28
Supporting Reasons: This pullback support suggests an area where the price might find temporary support before continuing the downward move. - 1st Resistance: 2550.10
Supporting Reasons: Supported by the 100% Fibonacci projection, this level indicates a significant area where the price could encounter strong resistance.
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