Technical Analysis and Market Review – Action Forex

DXY: The DXY chart is currently showing bullish momentum, indicating potential for continued bullish movement towards the first resistance level. The first support at 106.02 is significant as it aligns with pullback support, suggesting it may provide a foundation of price support. Additionally, the second support at 105.38 is an overlap support, reinforcing its potential role as a support level. On the resistance side, the first resistance at 106.72 is a swing high resistance, which may act as a notable barrier to upward price movement. The second resistance at 107.37 is also a swing high resistance and is associated with the 161.80% Fibonacci Extension level, further emphasizing its potential as a resistance level.

EUR/USD: The EUR/USD chart is currently showing bearish momentum, with a potential scenario for continued bearish movement towards the first support level. The first support at 1.0495 is significant as it aligns with a multi-swing low support level, indicating a strong potential area of price support. Additionally, the second support at 1.0448 is a swing low support, further reinforcing its potential as a support level. On the resistance side, the first resistance at 1.0580 is an overlap resistance level, suggesting it may act as a notable barrier to upward price movement. Furthermore, the second resistance at 1.0642 is a pullback resistance level, indicating potential resistance significance. There is also an intermediate support level at 1.0528, which provides additional insights into potential price support zones.

EUR/JPY: The EUR/JPY chart is currently showing bullish momentum, with potential for a bullish breakout through the first resistance at 159.77, leading to a rise towards the second resistance at 160.30. The first support at 158.51 is strong due to its overlap support characteristics. The second support at 157.64 is significant as it features multi-swing low support and is associated with the 78.60% Fibonacci Retracement. On the resistance side, the first resistance at 159.77 is noteworthy for its multi-swing high resistance properties. The second resistance at 160.30 is significant due to the presence of the 61.80% Fibonacci Projection.

EUR/GBP: The EUR/GBP chart is currently showing bearish momentum, suggesting potential for bearish continuation towards the first support at 0.8686. This support level is notable for its overlap support characteristics and the presence of the 78.60% Fibonacci Projection, making it a strong level of support. The second support at 0.8670 is also significant as it features overlap support. On the resistance side, the first resistance at 0.8733 is marked by multi-swing high resistance characteristics. The second resistance at 0.8762 is noteworthy for its overlap resistance. Additionally, there is an intermediate support level at 0.8722, supported by its pullback support attributes.

GBP/USD: The GBP/USD chart is currently showing bearish momentum, with a potential scenario for continued bearish movement towards the first support level. The first support at 1.2049 is significant as it aligns with a multi-swing low support level and coincides with the 127.20% Fibonacci Extension level, indicating a strong potential area of price support. Additionally, the second support at 1.1970 is identified as a support level and coincides with the 161.80% Fibonacci Extension, further reinforcing its potential as a support zone. On the resistance side, the first resistance at 1.2213 is characterized as a pullback resistance level, suggesting it may act as a notable barrier to upward price movement. Furthermore, the second resistance at 1.2270 and the intermediate resistance at 1.2106 are also identified as pullback resistance levels, indicating potential resistance significance at these levels.

GBP/JPY: The GBP/JPY chart is currently showing bullish momentum, indicating potential for a bullish continuation in price movement towards the first resistance at 182.12. The first support at 181.27 is considered strong due to its multi-swing low support characteristics. The second support at 180.39 is also significant as it features swing low support. On the resistance side, the first resistance at 182.12 is noteworthy for its overlap resistance characteristics and the presence of the 23.60% Fibonacci Retracement, making it a substantial level of resistance. The second resistance at 182.84 is marked by pullback resistance and the presence of the 61.80% Fibonacci Retracement, making it another important level of resistance.

USD/CHF: The USD/CHF chart is currently displaying bullish momentum, with potential for a bullish continuation towards the first resistance level. The first support at 0.8940 is considered significant as it aligns with an overlap support level, indicating a potential area of price support. Additionally, the second support at 0.8887 is identified as a swing low support, further reinforcing the potential for support at this level. On the resistance side, the first resistance at 0.8995 is characterized as an overlap resistance level, suggesting potential resistance significance that price may encounter. Beyond this, the second resistance at 0.9083 is also identified as an overlap resistance, indicating another potential barrier to further upward price movement.

USD/JPY: The USD/JPY chart is currently showing bullish momentum, with potential for a bullish bounce off the first support level towards the first resistance. The first support at 149.97 is significant as it aligns with a pullback support level, indicating a potential area of price support. Additionally, the second support at 149.41 is identified as an overlap support, further reinforcing the potential for support at this level. On the resistance side, the first resistance at 150.30 is characterized as a multi-swing high resistance level, suggesting potential resistance significance that price may encounter as it attempts to move higher.

USD/CAD: The USD/CAD chart is currently showing overall bullish momentum indicating the likelihood of a bullish continuation towards the first resistance level, especially after breaking above the significant swing-high resistance at 1.3786. The first resistance level at 1.3848 is identified as a swing-high resistance that aligns with the 127.20% Fibonacci extension level. Higher up, the second resistance level at 1.3919 is marked as a resistance level that aligns with the 161.80% Fibonacci extension level, potentially acting as a barrier to further bullish advances. To the downside, the first support level at 1.3786 is identified as a pullback support. Further below, the second support level at 1.3736 is noted as an overlap support, potentially acting as a strong support zone.

AUD/USD: The AUD/USD chart is currently showing overall bearish momentum, with price potentially making a bearish reaction off the first resistance level to drop lower towards the first support level. The first resistance level at 0.6293 is identified as a pullback resistance. Higher up, the second resistance level at 0.6347 is marked as an overlap resistance that aligns close to the 61.80% Fibonacci retracement level, making it a potentially strong resistance level. To the downside, the first support level at 0.6278 is identified as a multi-swing-low support. Additionally, the second support level at 0.6258 is noted as a support level that aligns with the 127.20% Fibonacci extension level, further reinforcing its importance as a potential support area.

NZD/USD The NZD/USD chart is currently showing overall bearish momentum with price potentially making a bearish continuation towards the first support level, especially if price breaks below the intermediate support level. The intermediate support at 0.5783 is identified as an overlap support, while the first support level at 0.5743 is marked as a swing-low support that aligns close to the 161.80% Fibonacci extension level. Additionally, the second support level at 0.5670 is noted as a pullback support that aligns close to the 78.60% Fibonacci projection level, further reinforcing its importance as a potential support area. To the upside, the first resistance level at 0.5816 is identified as a pullback resistance. Higher up, the second resistance level at 0.5864 is marked as an overlap resistance, making it a potentially strong resistance level.

DJ30: The DJ30 instrument is currently showing bullish momentum on its chart. The price may potentially drop further to the first support level at 32875.86 in the short term before bouncing from there and rising towards the first resistance at 33452.55. The first support at 32875.86 is considered a strong level due to its multi-swing low support characteristics, while the second support at 32726.41 is…

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