ICMarket

Friday 6th June 2025: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support.  The presence of the red Ichimoku Cloud adds further significance to the strength of the downward momentum.

Pivot: 99.42

Supporting reasons: Identified as an overlap resistance that aligns with a 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify. 

1st support: 98.01

Supporting reasons: Identified as a swing-low support that aligns closely with a 161.8% Fibonacci extension, indicating a potential area where the price could stabilize once again.

1st resistance: 100.28
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

EUR/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 1.1367

Supporting reasons: Identified as an overlap support that aligns close to a 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

 1st support: 1.1278
Supporting reasons: Identified as an overlap support that aligns with a 78.6% Fibonacci retracement, indicating a potential area where the price could stabilize once more.

1st resistance: 1.1473

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

EUR/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 164.19

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

1st support: 162.84
Supporting reasons: Identified as a multi-swing-low support that aligns with the 50% Fibonacci retracement, indicating a potential area where the price could stabilize once again.

1st resistance: 164.97
Supporting reasons: Identified as a swing-high resistance that aligns closely with a 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

EUR/GBP: 

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 0.8398

Supporting reasons: Identified as an overlap support that aligns closely with the 61.8% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 0.8356
Supporting reasons: Identified as a swing-low support, indicating a potential area where the price could stabilize once more.

1st resistance: 0.8461
Supporting reasons: Identified as an overlap resistance that aligns closely with the 61.8% Fibonacci projection, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 1.3505

Supporting reasons: Identified as an overlap support that aligns with a confluence of Fibonacci levels i.e. the 23.6% and 61.8% retracements, indicating a potential area where buying interest could pick up to stage a rebound.

1st support: 1.3442
Supporting reasons: Identified as an overlap support that aligns with the 38.2% Fibonacci retracement, indicating a potential area where the price could stabilize once more.

1st resistance: 1.3641
Supporting reasons: Identified as a resistance that aligns with a 127.2% Fibonacci extension, indicating a potential level that could cap further upward movement.

GBP/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 194.55

Supporting reasons: Identified as an overlap support that aligns closely with the 38.2% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 192.96

Supporting reasons: Identified as a swing-low support that aligns closely with the 78.6% Fibonacci retracement, indicating a potential level where the price could stabilize once more.

1st resistance: 196.23
Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential level that could cap further upward movement.

USD/CHF:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support. The presence of the red Ichimoku Cloud adds further significance to the strength of the downward momentum. 

Pivot: 0.8244

Supporting reasons: Identified as a multi-swing-high resistance that aligns with a confluence of Fibonacci levels i.e. the 50% retracement and the 100% projection, indicating a potential area where selling pressures could intensify.

1st support: 0.8164
Supporting reasons: Identified as a multi-swing-low support, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8340
Supporting reasons: Identified as a swing-high resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support. The presence of the red Ichimoku Cloud adds further significance to the strength of the downward momentum.

Pivot: 144.27

Supporting reasons: Identified as a swing-high resistance that aligns with the 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 141.94
Supporting reasons: Identified as a swing-low support that aligns with a 127.2% Fibonacci extension, suggesting a potential area where the price could stabilize once more.

1st resistance: 146.15
Supporting reasons: Identified as a swing-high resistance that aligns with the 61.8% Fibonacci retracement, indicating a potential level that could cap further upward movement.

USD/CAD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support. The presence of the red Ichimoku Cloud adds further significance to the strength of the downward momentum.

Pivot: 1.3691

Supporting reasons: Identified as a pullback resistance that aligns with a 23.6% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 1.3626
Supporting reasons: Identified as a support area that aligns with a confluence of Fibonacci levels i.e. the 61.8% projection and 127.2% extension, indicating a key level where the price could stabilize once more.

1st resistance: 1.3735
Supporting reasons: Identified as a swing-high resistance that aligns closely with a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

AUD/USD:

Potential Direction: Bullish

Overall momentum of the chart: Neutral

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

Pivot: 0.6448

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

1st support: 0.6407

Supporting reasons: Identified as a multi-swing-low support, suggesting a potential area where the price could stabilize once again.

1st resistance: 0.6522
Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bullish

Overall momentum of the chart: Bullish

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 0.5989
Supporting reasons: Identified as an overlap support that aligns with a confluence of Fibonacci levels i.e. the 38.2% and 61.8% retracements, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 0.5939

Supporting reasons: Identified as a multi-swing-low support that aligns with a 61.8% Fibonacci retracement, suggesting a potential area where the price could stabilize once more.

1st resistance: 0.6088

Supporting reasons: Identified as a resistance that aligns with a 78.6% Fibonacci projection, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

Potential Direction: Bullish

Overall momentum of the chart: Neutral

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 41,941.00

Supporting reasons: Identified as a multi-swing-low support that aligns with a 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 41,144.10

Supporting reasons: Identified as a swing-low support, suggesting a potential area where the price could stabilize once again.

1st resistance: 42,781.60

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

DE40 (DAX):

Potential Direction: Bullish

Overall momentum of the chart: Neutral

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 24,152.30
Supporting reasons: Identified as an overlap support that aligns closely with a 38.2% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 23,602.60

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

1st resistance: 24,571.50
Supporting reasons: Identified as a resistance that aligns with the 127.2% Fibonacci extension, indicating a potential area that could halt any further upward movement.

US500 (S&P 500): 

Potential Direction: Bullish

Overall momentum of the chart: Neutral

Price could fall toward the pivot and potentially make a bullish bounce off this level to rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 5,867.80

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

1st support: 5,775.30

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

1st resistance: 5,988.90

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

BTC/USD (Bitcoin):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support. The presence of the red Ichimoku Cloud adds further significance to the strength of the downward momentum.

Pivot: 103,568.58

Supporting reasons: Identified as a pullback resistance that aligns closely with a 78.6% Fibonacci projection, indicating a potential area where selling pressures could intensify.

1st support: 100,730.82
Supporting reasons: Identified as a multi-swing-low support, indicating a potential level where the price could stabilize once more.

1st resistance: 106,491.59
Supporting reasons: Identified as a swing-high resistance that aligns closely with a 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

ETH/USD (Ethereum):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could rise toward the pivot and potentially make a bearish reversal off this level to fall toward the 1st support. The presence of the red Ichimoku Cloud adds further significance to the strength of the downward momentum.

Pivot: 2,533.13
Supporting reasons: Identified as an overlap resistance that aligns with a 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 2,374.58
Supporting reasons: Identified as a swing-low support that aligns with a confluence of Fibonacci levels i.e. the 100% projection and 161.8% extension, indicating a potential level where the price could stabilize once again.

1st resistance: 2,642.11
Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bullish
Overall momentum of the chart: Neutral

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

Pivot: 60.12

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

1st support: 60.12
Supporting reasons: Identified as a multi-swing-low support that aligns closely with a 50% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 63.39
Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price has made a bullish bounce off the pivot and could potentially rise toward the 1st resistance. The presence of the green Ichimoku Cloud adds further significance to the strength of the upward momentum.

Pivot: 3,339.40

Supporting reasons: Identified as a multi-swing-low support that aligns with a confluence of Fibonacci levels i.e. the 23.6% and 38.2% retracements, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 3,256.87
Supporting reasons: Identified as an overlap support that aligns closely with a 50% Fibonacci retracement, acting as a potential level where price could stabilize once again.

1st resistance: 3,430.46
Supporting reasons: Identified as a swing-high resistance that aligns closely with the 78.6% Fibonacci projection, indicating a potential area that could halt any further upward movement.

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