US Dollar Index (DXY) 📈
Potential Direction: Bullish
Overall Momentum: Bearish
- Pivot Level: 101.01
- Supporting Reasons: Identified as swing low support, indicating a possible entry point for buyers, leading to a bullish bounce.
- Technical Indicators: RSI approaching oversold territory, signaling potential reversal. MACD is flattening, suggesting diminishing bearish momentum.
- Economic Events: FOMC Minutes at 21:00 (USD) could inject volatility. A hawkish tone might support a bullish DXY move.
- 1st Support: 100.45
- Supporting Reasons: Supported by the 61.80% Fibonacci Projection, highlighting a significant level where the price might find support if it dips below the pivot.
- Technical Indicators: Confluence with lower Bollinger Band, suggesting a potential reversal area.
- 1st Resistance: 102.16
- Supporting Reasons: Marked as pullback resistance, reinforced by the 50% Fibonacci Retracement, a zone where selling pressure might emerge, possibly reversing the bullish momentum.
- Technical Indicators: MACD nearing a bearish crossover, indicating resistance strength.
EUR/USD 📉
Potential Direction: Bearish
Overall Momentum: Bullish
- Pivot Level: 1.1177
- Supporting Reasons: Identified as swing high resistance, indicating a potential area where selling pressure might increase, leading to a reversal.
- Technical Indicators: Divergence on MACD and RSI, indicating potential bearish reversal.
- Economic Events: ECB Monetary Policy Meeting Accounts at 14:30 (EUR) could impact market sentiment. A dovish tone could reinforce the bearish outlook.
- 1st Support: 1.1045
- Supporting Reasons: Marked by pullback support, reinforced by the 61.80% Fibonacci Retracement, suggesting a significant level where price might find support after a bearish move.
- Technical Indicators: Downward trending RSI indicates weakening bullish momentum.
- 1st Resistance: 1.1251
- Supporting Reasons: Another swing high resistance, a level where previous rallies faced selling pressure and reversed.
- Technical Indicators: Stochastic Oscillator in overbought territory, signaling limited upside potential.
EUR/JPY 📈
Potential Direction: Bullish
Overall Momentum: Bullish
- Pivot Level: 159.35
- Supporting Reasons: Identified as overlap support and 50% Fibonacci Retracement, indicating potential for a bullish bounce.
- Technical Indicators: RSI above 50, indicating ongoing bullish momentum.
- Economic Events: Jibun Bank Manufacturing PMI at 02:50 (JPY) could impact JPY strength. A weaker-than-expected PMI may bolster EUR/JPY upward.
- 1st Support: 155.86
- Supporting Reasons: Identified as swing low support and 78.60% Fibonacci Retracement, suggesting a significant area where previous declines found support.
- Technical Indicators: Confluence of Fibonacci levels with historical support indicates a strong support zone.
- 1st Resistance: 163.80
- Supporting Reasons: Identified as multi-swing high resistance, a historical level where previous rallies faced selling pressure.
- Technical Indicators: Bearish divergence on RSI suggests resistance may hold.
EUR/GBP 📉
Potential Direction: Bearish
Overall Momentum: Bearish
- Pivot Level: 0.8551
- Supporting Reasons: Identified as pullback resistance and 50% Fibonacci Retracement, indicating potential selling pressure.
- Technical Indicators: MACD line nearing a bearish crossover, reinforcing the potential for a bearish reaction.
- Economic Events: S&P Global/CIPS Composite PMI at 11:30 (GBP) could influence GBP strength. A weaker PMI may reduce bearish momentum, while a strong PMI could reinforce it.
- 1st Support: 0.8498
- Supporting Reasons: Marked as pullback support, suggesting an area where the price could stabilize after a decline.
- Technical Indicators: RSI nearing oversold conditions, indicating support may hold.
- 1st Resistance: 0.8584
- Supporting Reasons: Identified as overlap resistance, marking a historical point where the price has reversed.
- Technical Indicators: Stochastic Oscillator in overbought territory suggests potential resistance.
GBP/USD 📉
Potential Direction: Bearish
Overall Momentum: Bullish
- Pivot Level: 1.3126
- Supporting Reasons: Identified as swing high resistance, suggesting a potential area where selling pressure might emerge.
- Technical Indicators: Bearish divergence on RSI and MACD suggests weakening bullish momentum, increasing the likelihood of a bearish reversal.
- Economic Events: S&P Global/CIPS Manufacturing PMI at 11:30 (GBP) could affect GBP’s direction. A strong reading might support GBP, while a weak one could accelerate a bearish move.
- 1st Support: 1.2944
- Supporting Reasons: Marked as overlap support, reinforced by the 38.20% Fibonacci Retracement, signaling a potential area of strong support.
- Technical Indicators: Confluence with the 200-day Moving Average enhances the support level.
- 1st Resistance: 1.3275
- Supporting Reasons: Identified as another swing high resistance, a historical point where previous rallies faced selling pressure.
- Technical Indicators: Stochastic Oscillator in overbought territory suggests this resistance could hold.
GBP/JPY 📈
Potential Direction: Bullish
Overall Momentum: Bullish
- Pivot Level: 187.94
- Supporting Reasons: Identified as overlap resistance combined with the 38.20% Fibonacci Retracement, suggesting a level where the price might find support and continue upwards.
- Technical Indicators: RSI above 50 indicates ongoing bullish momentum.
- Economic Events: National CPI (YoY) at 02:30 (JPY) could impact JPY strength. Higher inflation might challenge the bullish outlook for GBP/JPY.
- 1st Support: 184.76
- Supporting Reasons: Identified as overlap support, reinforced by the 61.80% Fibonacci Retracement, suggesting a significant area where the price might find support.
- Technical Indicators: Confluence with historical support strengthens this zone.
- 1st Resistance: 192.13
- Supporting Reasons: Identified as multi-swing high resistance, coupled with the 61.80% Fibonacci Retracement, indicating a level where the price might encounter selling pressure.
- Technical Indicators: MACD histogram turning positive supports a potential bullish breakout.
USD/CHF 📈
Potential Direction: Bullish
Overall Momentum: Bearish
- Pivot Level: 0.8502
- Supporting Reasons: Identified as overlap support, reinforced by the 78.60% Fibonacci Retracement, indicating a potential area where the price may find support and reverse upwards.
- Technical Indicators: RSI nearing oversold conditions may trigger a bounce.
- Economic Events: 20-Year Bond Auction at 20:00 (USD) could influence USD strength. High demand for bonds might push USD/CHF higher.
- 1st Support: 0.8425
- Supporting Reasons: Marked as swing low support, suggesting a significant level where previous declines found support.
- Technical Indicators: Confluence with lower Bollinger Bands indicates a potential reversal area.
- 1st Resistance: 0.8620
- Supporting Reasons: Identified as pullback resistance, indicating a potential area where the price may face selling pressure after a bullish move.
- Technical Indicators: MACD nearing a bullish crossover, signaling a potential resistance challenge.
USD/JPY 📈
Potential Direction: Bullish
Overall Momentum: Bullish
- Pivot Level: 144.62
- Supporting Reasons: Identified as pullback support, reinforced by the 61.80% Fibonacci Retracement and 100% Fibonacci Projection, indicating a confluence that strengthens this level as a potential area for a bullish reversal.
- Technical Indicators: RSI holding above 50 suggests continued bullish momentum.
- Economic Events: FOMC Minutes at 21:00 (USD) and National CPI (YoY) at 02:30 (JPY) might impact USD/JPY, with CPI possibly influencing JPY strength.
- 1st Support: 141.73
- Supporting Reasons: Identified as swing low support, suggesting a key level where the price might find strong buying interest.
- Technical Indicators: Confluence with previous lows strengthens this support zone.
- 1st Resistance: 149.36
- Supporting Reasons: Identified as swing high resistance, indicating a significant level where the price might encounter selling pressure.
- Technical Indicators: Stochastic Oscillator nearing overbought territory suggests resistance may hold.
USD/CAD 📈
Potential Direction: Bullish
Overall Momentum: Bearish
- Pivot Level: 1.3560
- Supporting Reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to stage a minor rebound.
- Technical Indicators: MACD histogram shows declining bearish momentum, indicating potential for a bullish bounce.
- Economic Events: Retail Sales (MoM) at 15:30 (CAD) could impact CAD strength, influencing USD/CAD direction. A weaker sales figure may support the bullish outlook.
- 1st Support: 1.3466
- Supporting Reasons: Identified as pullback support that aligns close to a 127.2% Fibonacci extension level, indicating a potential area where price could find strong support.
- Technical Indicators: RSI nearing oversold conditions suggests support may hold.
- 1st Resistance: 1.3636
- Supporting Reasons: Identified as pullback resistance, indicating a potential area that could halt further upward movement. The presence of bearish Ichimoku Clouds adds to the resistance strength.
- Technical Indicators: Stochastic Oscillator entering overbought territory suggests resistance may hold.
AUD/USD 📉
Potential Direction: Bearish
Overall Momentum: Bullish
- Pivot Level: 0.6752
- Supporting Reasons: Identified as pullback resistance, indicating a potential area where selling pressures could intensify.
- Technical Indicators: MACD nearing a bearish crossover, suggesting resistance might hold.
- Economic Events: Judo Bank Services PMI at 02:00 (AUD) could impact AUD strength. A lower-than-expected reading may support the bearish outlook.
- 1st Support: 0.6701
- Supporting Reasons: Identified as overlap support, suggesting a potential area where price could find support.
- Technical Indicators: RSI approaching oversold levels indicates potential support strength.
- 1st Resistance: 0.6790
- Supporting Reasons: Identified as swing-high resistance, indicating a significant area that could halt further upward movement.
- Technical Indicators: Stochastic Oscillator in overbought territory suggests resistance may hold.
NZD/USD 📈
Potential Direction: Bullish
Overall Momentum: Bullish
- Pivot Level: 0.6125
- Supporting Reasons: Identified as pullback support, indicating a potential area where buying interests could pick up to resume the uptrend.
- Technical Indicators: RSI above 50 indicates ongoing bullish momentum.
- Economic Events: Retail Sales (QoQ) at 01:45 (NZD) could impact NZD strength. A stronger-than-expected sales figure may support the bullish outlook.
- 1st Support: 0.6080
- Supporting Reasons: Identified as pullback support that aligns close to a 50% Fibonacci retracement level, suggesting a potential area where price could find strong support.
- Technical Indicators: Confluence with the 200-day Moving Average strengthens this support level.
- 1st Resistance: 0.6167
- Supporting Reasons: Identified as overlap resistance, indicating a significant area that could halt further upward movement.
- Technical Indicators: Stochastic Oscillator entering overbought territory suggests resistance may hold.
US30 (DJIA) 📉
Potential Direction: Bearish
Overall Momentum: Bullish
- Pivot Level: 41,042.19
- Supporting Reasons: Identified as pullback resistance, suggesting a potential area where selling pressures could intensify.
- Technical Indicators: MACD flattening indicates potential weakening of bullish momentum.
- Economic Events: Jackson Hole Symposium starting at 17:00 (USD) could inject volatility into the market. Bearish sentiment from key speakers might support a bearish outlook.
- 1st Support: 40,475.26
- Supporting Reasons: Identified as overlap support, suggesting a potential area where price could find support.
- Technical Indicators: RSI nearing oversold territory may strengthen this support level.
- 1st Resistance: 41,352.92
- Supporting Reasons: Identified as swing-high resistance that aligns close to the all-time high, indicating a significant area that could halt further upward movement.
- Technical Indicators: Stochastic Oscillator entering overbought territory suggests resistance may hold.
DE40 (DAX) 📈
Potential Direction: Bullish
Overall Momentum: Bullish
- Pivot Level: 18,250.70
- Supporting Reasons: Identified as pullback support, suggesting a potential area where buying interests could pick up to resume the uptrend.
- Technical Indicators: RSI above 50 indicates ongoing bullish momentum.
- Economic Events: HCOB Manufacturing PMI at 10:15 (EUR) and other related PMI releases could impact market sentiment. Stronger PMI figures may support the bullish outlook.
- 1st Support: 18,100.70
- Supporting Reasons: Identified as pullback support that aligns close to a 23.6% Fibonacci retracement level, indicating a potential area where price could find support.
- Technical Indicators: Confluence with historical support levels strengthens this zone.
- 1st Resistance: 18,593.70
- Supporting Reasons: Identified as pullback resistance, indicating a significant area that could halt further upward movement.
- Technical Indicators: MACD nearing a bullish crossover supports the potential for resistance to be challenged.
US500 (S&P 500) 📈
Potential Direction: Bullish
Overall Momentum: Bullish
- Pivot Level: 5,561.63
- Supporting Reasons: Identified as pullback support, suggesting a potential area where buying interests could pick up to resume the uptrend.
- Technical Indicators: RSI above 50 indicates ongoing bullish momentum.
- Economic Events: S&P Global Services PMI at 16:45 (USD) and Jackson Hole Symposium starting at 17:00 (USD) could impact market sentiment. Positive PMI figures may support the bullish outlook.
- 1st Support: 5,496.71
- Supporting Reasons: Identified as overlap support that aligns close to a 23.6% Fibonacci retracement level, suggesting a potential area where price could find support.
- Technical Indicators: Confluence with historical support levels strengthens this zone.
- 1st Resistance: 5,669.89
- Supporting Reasons: Identified as swing-high resistance that aligns close to a 127.2% extension Fibonacci level, suggesting a critical area that could halt further upward movement.
- Technical Indicators: MACD nearing a bullish crossover supports the potential for resistance to be challenged.
BTC/USD (Bitcoin) 📉
Potential Direction: Bearish
Overall Momentum: Neutral
- Pivot Level: 61,687.65
- Supporting Reasons: Identified as pullback resistance that aligns with a 61.8% Fibonacci retracement level, indicating a potential area where selling pressures could intensify.
- Technical Indicators: MACD nearing a bearish crossover suggests resistance may hold.
- Economic Events: Jackson Hole Symposium starting at 17:00 (USD) could influence broader market sentiment, impacting Bitcoin indirectly.
- 1st Support: 57,039.06
- Supporting Reasons: Identified as pullback support, indicating a significant area where price has found support in the past.
- Technical Indicators: RSI nearing oversold conditions suggests support may hold.
- 1st Resistance: 65,483.09
- Supporting Reasons: Identified as overlap resistance that aligns with a 78.6% Fibonacci retracement level, indicating a potential barrier that could halt further upward movement.
- Technical Indicators: Stochastic Oscillator entering overbought territory suggests resistance may hold.
ETH/USD (Ethereum) 📈
Potential Direction: Bullish
Overall Momentum: Neutral
- Pivot Level: 2,523.64
- Supporting Reasons: Identified as overlap support that aligns with a 38.2% Fibonacci retracement level, indicating a potential area where buying interests could pick up to stage a rebound.
- Technical Indicators: RSI above 50 suggests ongoing bullish momentum.
- Economic Events: Jackson Hole Symposium starting at 17:00 (USD) could indirectly impact Ethereum, depending on broader market reactions.
- 1st Support: 2,289.04
- Supporting Reasons: Identified as pullback support that aligns close to a 61.8% Fibonacci retracement level, indicating a potential area where price could find support.
- Technical Indicators: MACD nearing a bullish crossover suggests this support may hold.
- 1st Resistance: 2,805.94
- Supporting Reasons: Identified as pullback resistance that aligns with a 50% Fibonacci retracement level, indicating a historical barrier that could halt further upward movement.
- Technical Indicators: Stochastic Oscillator nearing overbought territory suggests resistance may hold.
WTI/USD (Oil) 📉
Potential Direction: Bearish
Overall Momentum: Bearish
- Pivot Level: 72.61
- Supporting Reasons: Identified as a potential breakout level where strong bearish momentum could drive price lower.
- Technical Indicators: MACD histogram showing increasing bearish momentum suggests a potential breakdown.
- Economic Events: EIA Crude Oil Stocks Change at 17:30 (USD) could directly impact WTI prices. A larger-than-expected drawdown may counter the bearish outlook, while a build could reinforce it.
- 1st Support: 70.31
- Supporting Reasons: Identified as pullback support that aligns with a 127.2% Fibonacci extension level, indicating a significant area where price has found support in the past.
- Technical Indicators: RSI nearing oversold conditions suggests support may hold.
- 1st Resistance: 74.79
- Supporting Reasons: Identified as pullback resistance, indicating a potential barrier that could halt further upward movement.
- Technical Indicators: Stochastic Oscillator entering overbought territory suggests resistance may hold.
XAU/USD (Gold) 📉
Potential Direction: Bearish
Overall Momentum: Bullish
- Pivot Level: 2520.00
- Supporting Reasons: Identified as pullback resistance, indicating a potential area where the price might face selling pressure, causing a bearish reaction.
- Technical Indicators: MACD histogram showing weakening bullish momentum suggests resistance may hold.
- Economic Events: FOMC Minutes at 21:00 (USD) could influence Gold prices, with hawkish tones potentially supporting the bearish outlook.
- 1st Support: 2484.16
- Supporting Reasons: Identified as pullback support, suggesting a key level where the price might find support after a potential drop.
- Technical Indicators: RSI nearing oversold territory suggests this support level may hold.
- 1st Resistance: 2546.50
- Supporting Reasons: Reinforced by the 78.60% Fibonacci Projection, indicating a significant resistance level where the price could encounter strong selling pressure.
- Technical Indicators: Stochastic Oscillator entering overbought territory suggests resistance may hold.
Upcoming Economic Events
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- 10:15 – EUR: HCOB Manufacturing PMI (Aug) Prel
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- 11:00 – EUR: HCOB Services PMI (Aug) Prel
- 11:30 – GBP: S&P Global/CIPS Composite PMI (Aug) Prel
- 11:30 – GBP: S&P Global/CIPS Manufacturing PMI (Aug) Prel
- 11:30 – GBP: S&P Global/CIPS Services PMI (Aug) Prel
- 14:30 – EUR: ECB Monetary Policy Meeting Accounts
- 15:30 – USD: Initial Jobless Claims (Aug 16)
- 16:45 – USD: S&P Global Composite PMI (Aug) Prel
- 17:00 – USD: Existing Home Sales (MoM) (Jul)
- All Day – USD: Jackson Hole Symposium
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