{"id":70331,"date":"2024-06-14T14:18:03","date_gmt":"2024-06-14T04:18:03","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70331"},"modified":"2024-06-14T14:18:06","modified_gmt":"2024-06-14T04:18:06","slug":"friday-14th-june-2024-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-14th-june-2024-technical-outlook-and-review\/","title":{"rendered":"Friday 14th June 2024: Technical Outlook and Review"},"content":{"rendered":"\n

DXY (US Dollar Index):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n

Pivot: 105.44<\/p>\n\n\n\n

Supporting reasons: Identified as pullback resistance, coinciding with the 61.8% Fibonacci Retracement, indicating a level where selling pressure may emerge.<\/p>\n\n\n\n

1st support: 104.28<\/p>\n\n\n\n

Supporting reasons: Recognized as overlap support, suggesting a historical level where buying interest has previously emerged.<\/p>\n\n\n\n

1st resistance: 106.50<\/p>\n\n\n\n

Supporting reasons: Noted as a multi-swing high resistance indicating a significant area where selling pressure may intensify.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

EUR\/USD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n

Pivot: 1.0741<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level, indicating a historical area where buying interest has previously emerged.<\/p>\n\n\n\n

1st support: 1.0679<\/p>\n\n\n\n

Supporting reasons: Recognized as an overlap support, coinciding with the 127.20% Fibonacci Extension level, suggesting a strong historical support zone where buyers might be active.<\/p>\n\n\n\n

1st resistance: 1.0798<\/p>\n\n\n\n

Supporting reasons: Noted as pullback resistance, indicating a significant area where selling pressure may emerge and potentially limit further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

EUR\/JPY:<\/strong><\/h1>\n\n\n\n

Potential Direction: Neutral <\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially fluctuate between the 1st resistance and 1st support level.<\/p>\n\n\n\n

1st support: 168.26 <\/p>\n\n\n\n

Supporting reasons: Identified as multi-swing low support, indicating a historical level where buying interest has previously been strong.<\/p>\n\n\n\n

1st resistance: 169.93 <\/p>\n\n\n\n

Supporting reasons: Noted as swing high resistance, suggesting a significant area where selling pressure may emerge and potentially limit further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

EUR\/GBP:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n

Pivot: 0.8499<\/p>\n\n\n\n

Supporting reasons: Identified as pullback resistance, coinciding with the 78.6% Fibonacci Retracement, indicating a level where selling pressure may emerge.<\/p>\n\n\n\n

1st support: 0.8420<\/p>\n\n\n\n

Supporting reasons: Recognized as swing low support, suggesting a historical level where buying interest has been strong.<\/p>\n\n\n\n

1st resistance: 0.8532<\/p>\n\n\n\n

Supporting reasons: Noted as an overlap resistance, indicating a level where selling pressure may intensify due to historical significance.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

<\/h1>\n\n\n\n

GBP\/USD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n

Pivot: 1.2744<\/p>\n\n\n\n

Supporting reasons: Identified as pullback support, coinciding with the 61.80% Fibonacci Retracement level, suggesting a potential area where buying interest could emerge.<\/p>\n\n\n\n

1st support: 1.2688<\/p>\n\n\n\n

Supporting reasons: Recognized as multi-swing low support, indicating a historical level where buying interest has previously been significant.<\/p>\n\n\n\n

1st resistance: 1.2854<\/p>\n\n\n\n

Supporting reasons: Noted as multi-swing high resistance, suggesting a significant area where selling pressure may emerge and potentially limit further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

GBP\/JPY:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish break through the pivot and rise to the 1st resistance.<\/p>\n\n\n\n

Pivot: 200.69<\/p>\n\n\n\n

Supporting reasons: Identified as multi-swing high resistance, indicating a level where previous selling pressure may have been present.<\/p>\n\n\n\n

1st support: 197.43<\/p>\n\n\n\n

Supporting reasons: Recognized as an overlap support level, suggesting a historical area where buying interest has emerged in the past.<\/p>\n\n\n\n

1st resistance: 202.70<\/p>\n\n\n\n

Supporting reasons: Noted as a confluence area with the 161.80% Fibonacci Extension and the 61.80% Fibonacci Projection, suggesting a strong Fibonacci resistance zone where selling pressure may intensify and potentially limit further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

USD\/CHF:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bearish continuation towards the 1st support.<\/p>\n\n\n\n

Pivot: 0.8989<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance and coinciding with the 38.20% Fibonacci Retracement level, suggesting a significant area where selling pressure may emerge.<\/p>\n\n\n\n

1st support: 0.8886<\/p>\n\n\n\n

Supporting reasons: Recognized as a multi-swing low support, indicating historical buying interest at this level.<\/p>\n\n\n\n

1st resistance: 0.9093<\/p>\n\n\n\n

Supporting reasons: Noted as a pullback resistance level and coinciding with the 78.60% Fibonacci Retracement, suggesting a strong Fibonacci resistance zone where selling pressure may intensify and potentially limit further upward movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

USD\/JPY:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Factors contributing to the momentum are that the price is in a bullish ascending channel.<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n

Pivot: 156.28<\/p>\n\n\n\n

Supporting reasons: Identified as pullback support, suggesting a level where buying interest may emerge.<\/p>\n\n\n\n

1st support: 154.69<\/p>\n\n\n\n

Supporting reasons: Recognized as swing low support, indicating a historical level where buying interest has emerged.<\/p>\n\n\n\n

1st resistance: 157.67<\/p>\n\n\n\n

Supporting reasons: Noted as swing high resistance, suggesting a significant area where selling pressure may intensify.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

USD\/CAD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.<\/p>\n\n\n\n

Pivot: 1.3701<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback support level, indicating a historical area where buying interest has emerged.<\/p>\n\n\n\n

1st support: 1.3656<\/p>\n\n\n\n

Supporting reasons: Recognized as another pullback support level, reinforcing the potential for buyers to enter at this price point.<\/p>\n\n\n\n

1st resistance: 1.3781<\/p>\n\n\n\n

Supporting reasons: Noted as an overlap resistance level, suggesting a significant area where selling pressure may emerge and potentially limit further upward movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

AUD\/USD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.<\/p>\n\n\n\n

Pivot: 0.6620<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level and coinciding with the 61.80% Fibonacci Retracement, suggesting a strong historical and technical support zone.<\/p>\n\n\n\n

1st support: 0.6576<\/p>\n\n\n\n

Supporting reasons: Noted as another overlap support level, reinforcing the significance of this area where buyers have historically entered the market.<\/p>\n\n\n\n

1st resistance: 0.6714<\/p>\n\n\n\n

Supporting reasons: Recognized as a swing high resistance level, indicating a significant area where selling pressure may emerge and potentially halt further upward movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

NZD\/USD<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.<\/p>\n\n\n\n

Pivot: 0.6140<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback support level and coinciding with the 61.80% Fibonacci Retracement, suggesting a strong historical and technical support zone.<\/p>\n\n\n\n

1st support: 0.6085<\/p>\n\n\n\n

Supporting reasons: Noted as an overlap support level, reinforcing the significance of this area where buyers have historically entered the market.<\/p>\n\n\n\n

1st resistance: 0.6206<\/p>\n\n\n\n

Supporting reasons: Recognized as a multi-swing high resistance level, indicating a significant area where selling pressure may emerge and potentially halt further upward movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

US30 (DJIA):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.<\/p>\n\n\n\n

Pivot: 38641.99<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level and coinciding with the 61.80% Fibonacci Retracement, indicating a strong historical and technical support area.<\/p>\n\n\n\n

1st support: 38077.26<\/p>\n\n\n\n

Supporting reasons: Noted as a multi-swing low support, suggesting a significant historical level where buying interest has previously emerged.<\/p>\n\n\n\n

1st resistance: 39038.86<\/p>\n\n\n\n

Supporting reasons: Recognized as an overlap resistance level and coinciding with the 50% Fibonacci Retracement, indicating a critical area where selling pressure may intensify and potentially halt further upward movement.<\/p>\n\n\n\n

<\/strong><\/h1>\n\n\n\n

DE40 (DAX):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.<\/p>\n\n\n\n

Pivot: 18231.43<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level.<\/p>\n\n\n\n

1st support: 17903.57<\/p>\n\n\n\n

Supporting reasons: Noted as another overlap support level.<\/p>\n\n\n\n

1st resistance: 18555.66<\/p>\n\n\n\n

Supporting reasons: Recognized as pullback resistance, coinciding with the 78.60% Fibonacci retracement level.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

US500 (S&P 500): <\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off the pivot and head towards the 1st resistance.<\/p>\n\n\n\n

Pivot: 5340.81<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level.<\/p>\n\n\n\n

1st support: 5262.01<\/p>\n\n\n\n

Supporting reasons: Identified as another overlap support level.<\/p>\n\n\n\n

1st resistance: 5450.00<\/p>\n\n\n\n

Supporting reasons: This level is identified by the confluence of the 161.80% Fibonacci Extension and the 61.80% Fibonacci Projection, indicating a significant area where selling pressure may intensify.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

BTC\/USD (Bitcoin):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a: Bullish bounce-off pivot and head toward 1st resistance<\/p>\n\n\n\n

Pivot: 66,040.06<\/p>\n\n\n\n

Supporting reasons: Identified as multi-swing low support, indicating a historical level where buying interest has previously emerged.<\/p>\n\n\n\n

1st support: 64,512.65<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support, suggesting a significant level where buying pressure could potentially increase.<\/p>\n\n\n\n

1st resistance: 70,293.18<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance and coinciding with the 78.60% Fibonacci Retracement level, indicating a critical area where selling pressure may intensify.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

ETH\/USD (Ethereum):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a: Bullish bounce-off pivot and head towards 1st resistance<\/p>\n\n\n\n

Pivot: 3,443.08<\/p>\n\n\n\n

Supporting reasons: Identified as multi-swing low support, coinciding with the 50% Fibonacci Retracement level, indicating a strong historical and technical support area.<\/p>\n\n\n\n

1st support: 3,321.70<\/p>\n\n\n\n

Supporting reasons: Identified as pullback support, coinciding with the 61.80% Fibonacci Retracement level, suggesting a significant area where buying interest could emerge to support a rebound.<\/p>\n\n\n\n

1st resistance: 3,717.11<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance, coinciding with the 50% Fibonacci Retracement level, marking a significant barrier where selling pressure may intensify and potentially halt further upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

<\/h1>\n\n\n\n

WTI\/USD (Oil):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and heads towards 1st resistance.<\/p>\n\n\n\n

Pivot: 76.66<\/p>\n\n\n\n

Supporting reasons: Identified as pullback support, coinciding with the 38.20% Fibonacci Retracement level.<\/p>\n\n\n\n

1st support: 75.29<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level, coinciding with the 61.80% Fibonacci Retracement level.<\/p>\n\n\n\n

1st resistance: 80.42<\/p>\n\n\n\n

Supporting reasons: Recognized as an overlap resistance level, indicating a significant area where selling pressure may emerge.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

XAU\/USD (GOLD):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a: Bullish bounce-off pivot and head towards 1st resistance<\/p>\n\n\n\n

Pivot: 2,295.00<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support level, indicating a historical area where buying interest has previously emerged.<\/p>\n\n\n\n

1st support: 2,271.25<\/p>\n\n\n\n

Supporting reasons: Identified as another overlap support level, reinforcing the significance of this zone as a potential area for buyers to step in.<\/p>\n\n\n\n

1st resistance: 2,324.08<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance level, coinciding with the 61.80% Fibonacci Retracement, suggesting a critical area where selling pressure may emerge and potentially stall further upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

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DXY (US Dollar Index): Potential Direction: Bearish Overall momentum of the […]<\/p>\n","protected":false},"author":8,"featured_media":61982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[340,216,215,339,195],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70331"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=70331"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70331\/revisions"}],"predecessor-version":[{"id":70344,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70331\/revisions\/70344"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/61982"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=70331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}