Comprehensive Market Analysis and Trading Signals for Today: Expert Insights and Strategies
Stay ahead of the market with today’s in-depth technical analysis and trading signals from TresorFX. Our expert team has meticulously analyzed key assets, including forex pairs, commodities, and indices, to provide you with actionable insights and strategies for the day. Whether you’re looking to navigate the movements of the DXY (US Dollar Index), capitalize on opportunities in Bitcoin, or understand the trends in Gold, we’ve got you covered.
Explore today’s top buy and sell signals, supported by technical indicators and market trends, to make informed trading decisions. Enhance your trading strategy with our professional analysis and seize potential opportunities for gains in today’s dynamic market landscape. Don’t miss out—delve into the full analysis now!
| Asset | Potential Direction | Pivot | 1st Support | 1st Resistance |
|---|---|---|---|---|
| 📉 DXY (US Dollar Index) | Bearish | 100.83 | 99.77 | 101.51 |
| 📉 EUR/USD | Bearish | 1.1244 | 1.1106 | 1.1373 |
| 📈 EUR/JPY | Bullish | 160.01 | 157.73 | 164.05 |
| 📉 EUR/GBP | Bearish | 0.8491 | 0.8409 | 0.8540 |
| 📉 GBP/USD | Bearish | 1.3262 | 1.3135 | 1.3404 |
| 📈 GBP/JPY | Bullish | 187.96 | 183.04 | 191.86 |
| 📈 USD/CHF | Bullish | 0.8395 | 0.8210 | 0.8550 |
| 📉 USD/JPY | Bearish | 144.11 | 140.80 | 146.30 |
| 📈 USD/CAD | Bullish | 1.3451 | 1.3386 | 1.3616 |
| 📈 AUD/USD | Bullish | 0.6784 | 0.6697 | 0.6846 |
| 📈 NZD/USD | Bullish | 0.6202 | 0.6127 | 0.6339 |
| 📉 US30 (DJIA) | Bearish | 41,275.32 | 40,753.96 | 42,014.15 |
| 📉 DE40 (DAX) | Bearish | 18,710.60 | 18,344.20 | 18,873.20 |
| 📉 US500 (S&P 500) | Bearish | 5,669.89 | 5,564.72 | 5,860.51 |
| 📉 BTC/USD (Bitcoin) | Bearish | 68,173.09 | 58,410.50 | 73,176.19 |
| 📉 ETH/USD (Ethereum) | Bearish | 2,928.97 | 2,553.98 | 3,316.28 |
| 📉 WTI/USD (Oil) | Bearish | 77.50 | 72.95 | 80.03 |
| 📉 XAU/USD (Gold) | Bearish | 2,519.19 | 2,468.69 | 2,564.35 |
DXY (US Dollar Index)
Potential Direction: Bearish
Overall Momentum: Bearish
The DXY is showing signs of potential reversal near the pivot level, suggesting a continuation of the bearish trend if it fails to break through the resistance.
- Pivot: 101.48
- Supporting Reasons: Identified as a pullback resistance close to the 38.2% Fibonacci retracement. The presence of a bearish Ichimoku Cloud adds further resistance, signaling potential selling pressure.
- 1st Support: 100.60
- Supporting Reasons: Marked as a pullback support where price has found support recently.
- 1st Resistance: 102.30
- Supporting Reasons: A key resistance level aligned with the 61.8% Fibonacci retracement, possibly preventing further upward movement.
Economic Events to Watch:
- USD Consumer Confidence (Aug): This data can impact USD movements and affect the DXY.
- USD Richmond Fed Manufacturing Index (Aug): A key economic indicator influencing USD sentiment.
EUR/USD
Potential Direction: Bearish
Overall Momentum: Bullish
The EUR/USD pair could face a bearish reversal near the pivot point as it approaches a strong resistance area.
- Pivot: 1.1194
- Supporting Reasons: Identified as a pullback resistance zone where selling pressure may increase.
- 1st Support: 1.1101
- Supporting Reasons: Aligned with a 38.2% Fibonacci retracement and strengthened by a bullish Ichimoku Cloud, providing significant support.
- 1st Resistance: 1.1251
- Supporting Reasons: A swing-high resistance area where previous rallies have faced selling pressure.
Economic Events to Watch:
- EUR Gross Domestic Product (QoQ) (Q2): Key economic data that can influence EUR volatility.
- EUR German Buba President Nagel Speech: Potential impact on EUR sentiment.
EUR/JPY
Potential Direction: Bearish
Overall Momentum: Neutral
The EUR/JPY may see a bearish reversal from the pivot level, suggesting a potential drop towards the first support.
- Pivot: 164.05
- Supporting Reasons: Overlap resistance, indicating potential selling pressure.
- 1st Support: 159.37
- Supporting Reasons: Aligned with a 38.2% Fibonacci retracement, a strong support level.
- 1st Resistance: 167.49
- Supporting Reasons: Pullback resistance near a 61.8% Fibonacci retracement, limiting upward movement.
Economic Events to Watch:
- JPY Corporate Service Price Index (YoY) (Jul): Affects JPY pairs, including EUR/JPY.
EUR/GBP
Potential Direction: Bearish
Overall Momentum: Bearish
EUR/GBP could see a bearish reversal at the pivot level, pushing prices down towards the first support.
- Pivot: 0.8496
- Supporting Reasons: Pullback resistance near a 23.6% Fibonacci retracement, enhanced by the bearish Ichimoku Cloud.
- 1st Support: 0.8454
- Supporting Reasons: Overlap support where price has found stability.
- 1st Resistance: 0.8544
- Supporting Reasons: Pullback resistance close to a 50% Fibonacci retracement, a potential barrier to further upward movement.
Economic Events to Watch:
- GBP BRC Shop Price Index (YoY) (Aug): May impact GBP pairs, including EUR/GBP.
GBP/USD
Potential Direction: Bearish
Overall Momentum: Bullish
GBP/USD is nearing the pivot point, which could trigger a bearish reversal towards the first support level.
- Pivot: 1.3279
- Supporting Reasons: Pullback resistance aligned with a 161.8% Fibonacci extension, suggesting potential selling pressure.
- 1st Support: 1.3135
- Supporting Reasons: Overlap support, strengthened by the bullish Ichimoku Cloud.
- 1st Resistance: 1.3430
- Supporting Reasons: A pullback resistance level that could limit upward movement.
Economic Events to Watch:
- USD S&P/Case-Shiller Home Price Indices (YoY) (Jun): Can impact USD volatility and affect GBP/USD.
GBP/JPY
Potential Direction: Bearish
Overall Momentum: Neutral
GBP/JPY could experience a bearish reversal at the pivot level, potentially declining to the first support.
- Pivot: 193.26
- Supporting Reasons: Pullback resistance near a 61.8% Fibonacci retracement.
- 1st Support: 189.33
- Supporting Reasons: Overlap support aligning with a 23.6% Fibonacci retracement, providing a strong base.
- 1st Resistance: 196.71
- Supporting Reasons: Pullback resistance that could limit further gains.
Economic Events to Watch:
- JPY Jobs/Applicants Ratio (Jul): May affect JPY pairs, including GBP/JPY.
USD/CHF
Potential Direction: Bullish
Overall Momentum: Bearish
USD/CHF is positioned near the pivot point and could see a bullish bounce towards the first resistance level.
- Pivot: 0.8444
- Supporting Reasons: Swing-low support, a potential area for buying interest.
- 1st Support: 0.8367
- Supporting Reasons: Another swing-low support indicating strong demand.
- 1st Resistance: 0.8552
- Supporting Reasons: Pullback resistance aligned with a 38.2% Fibonacci retracement, a potential cap on upward movement.
Economic Events to Watch:
- CHF ZEW Survey – Expectations (Aug): Important economic data impacting CHF pairs.
USD/JPY
Potential Direction: Bearish
Overall Momentum: Neutral
USD/JPY is likely to face a bearish reversal at the pivot level, leading to a potential decline towards the first support.
- Pivot: 146.93
- Supporting Reasons: Pullback resistance near a 61.8% Fibonacci retracement, suggesting potential selling pressure.
- 1st Support: 143.71
- Supporting Reasons: Pullback support close to a 78.6% Fibonacci retracement, a significant buying area.
- 1st Resistance: 149.38
- Supporting Reasons: Pullback resistance, indicating a possible halt in price movement.
Economic Events to Watch:
- USD Pending Home Sales (MoM) (Jul): Influences USD volatility and sentiment.
USD/CAD
Potential Direction: Bullish
Overall Momentum: Bearish
USD/CAD is descending towards the pivot and could rebound towards the first resistance level.
- Pivot: 1.3458
- Supporting Reasons: Pullback support, potential for buying interest to drive prices up.
- 1st Support: 1.3370
- Supporting Reasons: Aligns with a 161.8% Fibonacci extension, a critical support level.
- 1st Resistance: 1.3561
- Supporting Reasons: Pullback resistance that may prevent further gains.
Economic Events to Watch:
- CAD Gross Domestic Product (QoQ) (Q2): Key indicator impacting CAD movements.
AUD/USD
Potential Direction: Bearish
Overall Momentum: Bullish
AUD/USD is approaching the pivot, which may trigger a bearish reversal towards the first support.
- Pivot: 0.6798
- Supporting Reasons: Swing-high resistance, suggesting potential selling pressure.
- 1st Support: 0.6699
- Supporting Reasons: Pullback support aligned with a 23.6% Fibonacci retracement, providing a potential buying zone.
- 1st Resistance: 0.6859
- Supporting Reasons: Swing-high resistance, a significant barrier to upward movement.
Economic Events to Watch:
- AUD Construction Work Done (Q2): Economic data impacting AUD pairs.
NZD/USD
Potential Direction: Bearish
Overall Momentum: Bullish
NZD/USD could face a bearish reversal at the pivot level, leading to a decline towards the first support.
- Pivot: 0.6233
- Supporting Reasons: Pullback resistance near a 127.2% Fibonacci extension, indicating selling pressure.
- 1st Support: 0.6127
- Supporting Reasons: Pullback support close to a 23.6% Fibonacci retracement, a key buying level.
- 1st Resistance: 0.6270
- Supporting Reasons: Pullback resistance, a potential limit to upward movement.
Economic Events to Watch:
- NZD ANZ Business Confidence (Aug): Important data affecting NZD pairs.
US30 (DJIA)
Potential Direction: Bullish
Overall Momentum: Bullish
The US30 could see a bullish bounce off the pivot, aiming for the first resistance level.
- Pivot: 41,156.81
- Supporting Reasons: Pullback support suggesting a potential area for buying interest.
- 1st Support: 40,602.31
- Supporting Reasons: Pullback support close to a 23.6% Fibonacci retracement, providing a potential base for a rebound.
- 1st Resistance: 42,014.15
- Supporting Reasons: Resistance aligned with a 127.2% Fibonacci extension, potentially capping gains.
Economic Events to Watch:
- USD Consumer Confidence (Aug): Key data influencing market sentiment.
DE40 (DAX)
Potential Direction: Bearish
Overall Momentum: Bullish
DE40 is rising towards the pivot and could potentially make a bearish reversal off this level to pull back towards the first support.
- Pivot: 18,760.10
- Supporting Reasons: Swing-high resistance, suggesting potential selling pressure.
- 1st Support: 18,534.60
- Supporting Reasons: Overlap support indicating a potential area where price could find support.
- 1st Resistance: 18,894.40
- Supporting Reasons: Resistance near the all-time high, possibly limiting further gains.
Economic Events to Watch:
- EUR Consumer Confidence (Aug): May impact EUR and correlated assets.
US500 (S&P 500)
Potential Direction: Bearish
Overall Momentum: Bullish
US500 is rising towards the pivot and could potentially make a bearish reversal off this level to pull back towards the first support.
- Pivot: 5,669.89
- Supporting Reasons: Swing-high resistance near a 127.2% Fibonacci extension, indicating possible selling pressure.
- 1st Support: 5,561.63
- Supporting Reasons: Overlap support providing a strong base for a rebound.
- 1st Resistance: 5,860.51
- Supporting Reasons: Resistance near a 161.8% Fibonacci extension, possibly capping further gains.
Economic Events to Watch:
- USD Gross Domestic Product Annualized (Q2): Critical data affecting market sentiment.
BTC/USD (Bitcoin)
Potential Direction: Bullish
Overall Momentum: Neutral
Bitcoin is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the first resistance.
- Pivot: 61,687.65
- Supporting Reasons: Pullback support near a 23.6% Fibonacci retracement, indicating potential buying interest.
- 1st Support: 58,430.85
- Supporting Reasons: Pullback support near a 38.2% Fibonacci retracement, a critical support area.
- 1st Resistance: 65,515.58
- Supporting Reasons: Overlap resistance near a 78.6% Fibonacci retracement, potentially limiting further gains.
Economic Events to Watch:
- USD Core Personal Consumption Expenditures Price Index (YoY) (Jul): Influences USD volatility and impacts correlated assets like Bitcoin.
ETH/USD (Ethereum)
Potential Direction: Bullish
Overall Momentum: Neutral
Ethereum is trading close to the pivot and could potentially make a bullish bounce off this level to rise towards the first resistance.
- Pivot: 2,671.88
- Supporting Reasons: Pullback support near a 23.6% Fibonacci retracement, indicating potential buying interest.
- 1st Support: 2,523.64
- Supporting Reasons: Overlap support near a 38.2% Fibonacci retracement, providing a strong base.
- 1st Resistance: 2,913.11
- Supporting Reasons: Pullback resistance near a 61.8% Fibonacci retracement, possibly capping further gains.
Economic Events to Watch:
- USD Michigan Consumer Sentiment Index (Aug): Influences USD sentiment and correlated assets like Ethereum.
WTI/USD (Oil)
Potential Direction: Bullish
Overall Momentum: Bullish
Oil prices could fall towards the pivot and potentially make a bullish bounce off this level to rise towards the first resistance.
- Pivot: 77.32
- Supporting Reasons: Pullback support near a 23.6% Fibonacci retracement, indicating potential buying interest.
- 1st Support: 75.33
- Supporting Reasons: Overlap support near a 50% Fibonacci retracement, providing a critical base for a rebound.
- 1st Resistance: 79.35
- Supporting Reasons: Pullback resistance near a 78.6% Fibonacci projection, possibly capping further gains.
Economic Events to Watch:
- USD API Weekly Crude Oil Stock (Aug 23): Key indicator impacting oil prices.
XAU/USD (Gold)
Potential Direction: Bullish
Overall Momentum: Neutral
Gold could potentially make a bullish bounce off the pivot and rise towards the first resistance.
- Pivot: 2,481.30
- Supporting Reasons: Overlap support near a 38.2% Fibonacci retracement, indicating potential buying interest.
- 1st Support: 2,441.55
- Supporting Reasons: Pullback support near a 61.8% Fibonacci retracement, suggesting a significant area for support.
- 1st Resistance: 2,529.88
- Supporting Reasons: Pullback resistance near the all-time high, possibly limiting further gains.
Economic Events to Watch:
- USD Core Personal Consumption Expenditures – Price Index (MoM) (Jul): Affects USD volatility, impacting Gold prices.
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