ICMarket

Monday 28th July 2025: Technical Outlook and Review

DXY (U.S. Dollar Index):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price could make a bearish reversal from the pivot and drop towards the 1st support. Additionally, the price is below the Ichimoku Cloud, which adds further significance to the strength of the bearish momentum.

Pivot: 98.62
Supporting reasons: Identified as an overlap resistance that aligns with the 50% Fibonacci retracement, indicating a potential area where selling interests could pick up to resume the downtrend.

1st support: 96.59

Supporting reasons: Identified as a pullback support, indicating a potential area where the price could again stabilize.

1st resistance: 100.15
Supporting reasons: Identified as a  pullback resistance, indicating a potential area that could halt any further upward movement.

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could make a bearish reversal off the pivot and drop toward the 1st support.

Pivot: 1.1812

Supporting reasons: Identified as a swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 1.1578
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 1.1995
Supporting reasons: Identified as a resistance that is supported by the 161.8% Fibonacci extension, indicating a potential level that could cap further upward movement.

EUR/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could make a bearish reversal off the pivot and drop toward the 1st support.

Pivot: 174.45

Supporting reasons: Identified as a swing high resistance that aligns with the 161.8% Fibonacci extension. indicating a potential area where selling pressures could intensify.

1st support: 168.20
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could again stabilize.

1st resistance: 181.16
Supporting reasons: Identified as a resistance that is supported by the 161.8% Fibonacci extension, indicating a potential level that could cap further upward movement.

EUR/GBP: 

Potential Direction: Bearish
Overall momentum of the chart: Bullish

The price could make a bearish reversal off the pivot and drop toward the 1st support.

Pivot: 0.8764

Supporting reasons: Identified as a swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.8651
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 0.8874
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bullish
Overall momentum of the chart: Bullish

The price could make a bullish bounce off the pivot and rise toward the 1st resistance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

Pivot: 1.3363
Supporting reasons: Identified as an overlap support that aligns closely with the 23.6% Fibonacci retracement, indicating a potential area where buying interest could pick up.

1st support: 1.3109
Supporting reasons: Identified as an overlap support that aligns closely with the38.2% Fibonacci retracement, indicating a potential area where the price could stabilize once more.

1st resistance: 1.3611
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could halt further upward movement.

GBP/JPY:

Potential Direction: Neutral

Overall momentum of the chart: Bullish

The price is currently exhibiting a neutral momentum, with price action forecasted to fluctuate between the main support and resistance levels. This creates a tactical trading range with clear pivots and reference points for potential reversals or breakouts

1st support: 197.97
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once more.

1st resistance: 199.82
Supporting reasons: Identified as a multi-swing high resistance, acting as a key area that could halt any further upward movement.

USD/CHF:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price could make a bullish bounce off the pivot to rise toward the 1st resistance.

Pivot: 0.7872
Supporting reasons: Identified as a swing low support, indicating a potential area where selling interests could pick up to stage a rebound.

1st support: 0.7747
Supporting reasons: Identified as a support that is supported by the 161.8% Fibonacci extension, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8087
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could continue to make a bullish rise toward the 1st resistance. 

Pivot: 145.96

Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 142.37
Supporting reasons: Identified as a swing low support, suggesting a potential area where the price could stabilize once more.

1st resistance: 150.98
Supporting reasons: Identified as an overlap resistance that aligns closely with the 61.8% Fiboancco retracement, indicating a potential level that could cap further upward movement.

USD/CAD:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price could potentially make a bullish breakout at the pivot and rise toward the 1st resistance,

Pivot: 1.3762

Supporting reasons: Identified as an overlap resistance,indicating a potential area where selling pressures could intensify.
1st support: 1.3558

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

1st resistance: 1.3899

Supporting reasons: Identified as a pullback resistance that aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement. 

AUD/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could make a bearish reversal off the pivot and drop toward the 1st support.

Pivot: 0.6586

Supporting reasons: Identified as a pullback resistance,  indicating a potential area where selling pressures could intensify.

1st support: 0.6429

Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 0.6686
Supporting reasons: Identified as a resistance level that aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could make a bearish reversal off the pivot and drop toward the 1st support.

Pivot: 0.6038

Supporting reasons: Identified as an overlap resistance,  indicating a potential area where selling pressures could intensify.

1st support: 0.5853

Supporting reasons: Identified as an overlap support, suggesting a potential area where the price could stabilize once more.

1st resistance: 0.6118

Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could continue to make a bullish rise toward the 1st resistance. Additionally, the price is above the Ichimoku Cloud, adding further significance to the strength of the upward momentum.

Pivot: 44,626.57

Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 43,819.69

Supporting reasons: Identified as an overlap support, suggesting a potential area where the price could stabilize once again.

1st resistance: 45,655.65

Supporting reasons: Identified as a resistance that is supported by the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance.

Pivot: 23,355.51
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 22,172.74

Supporting reasons: Identified as a pullback support that aligns closely with the 161.8% Fibonacci extension, indicating a key level where the price could stabilize once more.

1st resistance: 24,642.63
Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

US500 (S&P 500): 

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. 

Pivot: 6,144.58

Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 5,956.96

Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once again.

1st resistance: 6,512.69

Supporting reasons: Identified as a resistance that is supported by the 161.8 Fibonacci extension, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price is falling toward the pivot and could make a bullish rise toward the 1st resistance. Additionally, the price is above the Ichimoku Cloud, adding further significance to the strength of the upward momentum.

Pivot: 111,566.95

Supporting reasons: Identified as a pullback support that aligns with the 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 101,397.65

Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once more.

1st resistance: 123,001.73

Supporting reasons: Identified as a swing high resistance that aligns with the 61.8% Fibonacci projection, indicating a potential area that could halt any further upward movement.

ETH/USD (Ethereum):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could make a bullish rise toward the 1st resistance. Also, the RSI indicator is displaying bearish divergence versus price

Pivot: 3,849.34

Supporting reasons: Identified as a pullback resistance,  indicating a potential area where selling pressures could intensify.

1st support: 3,470.31

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once more.

1st resistance: 4,096.19
Supporting reasons: Identified as a swing-high resistance that aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could make a bullish bounce off the pivot to rise toward the 1st resistance.

Pivot: 65.50
Supporting reasons: Identified as a multi-swing low support, indicating a potential area where selling interests could pick up to stage a rebound.

1st support: 63.36
Supporting reasons: Identified as a pullback support that aligns with the 78.6% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 69.60
Supporting reasons: Identified as an overlap resistance that aligns closely with the 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

The price could make a bearish reversal off the pivot and drop toward the 1st support.

Pivot: 3,503.642

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

1st support: 3,168.15
Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 3,503.64
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

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