{"id":73322,"date":"2024-11-29T15:28:58","date_gmt":"2024-11-29T04:28:58","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73322"},"modified":"2024-11-29T15:30:52","modified_gmt":"2024-11-29T04:30:52","slug":"friday-29th-november-2024-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-29th-november-2024-technical-outlook-and-review\/","title":{"rendered":"Friday 29th November 2024: Technical Outlook and Review"},"content":{"rendered":"\n

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

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

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

Pivot: 106.57
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 105.43
Supporting reasons: Identified as a pullback support that aligns with the 61.8% Fibonacci retracement, indicating a potential level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 108.62
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.<\/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 continuation toward the 1st resistance.<\/p>\n\n\n\n

Pivot: 1.0527<\/p>\n\n\n\n

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

1st support: 1.0335<\/p>\n\n\n\n

Supporting reasons: Identified as a swing low support, indicating a potential level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 1.0646
Supporting reasons: Identified as a pullback resistance close to 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

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

Pivot: 160.58
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 157.38<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback support that aligns with 78.6% Fibonacci retracement, indicating a potential level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 162.06
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward 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 the pivot and drop toward the 1st support <\/p>\n\n\n\n

Pivot: 0.8376<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance close to 61.8% Fibonacci retracement, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 0.8266<\/p>\n\n\n\n

Supporting reasons: Identified as a swing low support, indicating a potential level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 0.8452
Supporting reasons: Identified as a multi swing high resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

GBP\/USD:<\/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 the pivot and drop toward the 1st support <\/p>\n\n\n\n

Pivot: 1.2735<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance close to 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 1.2615<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback support, indicating a potential level where price could find support once more.<\/p>\n\n\n\n

1st resistance:  1.2858
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

GBP\/JPY:<\/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 the pivot and drop toward the 1st support <\/p>\n\n\n\n

Pivot: 192.86<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 189.90
Supporting reasons: Identified as an overlap support close to 61.8% Fibonacci projection, indicating a key level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 195.63
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward 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 reaction off the pivot and drop toward the 1st support <\/p>\n\n\n\n

Pivot: 0.8855<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 0.8765
Supporting reasons: Identified as a pullback support close to 127.2% Fibonacci extension, indicating a potential level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 0.8917
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

USD\/JPY:<\/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 the pivot and drop toward the 1st support <\/p>\n\n\n\n

Pivot: 150.83<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 149.13
Supporting reasons: Identified as an overlap support close to 50% Fibonacci retracement, indicating a potential level where price could find support once again.<\/p>\n\n\n\n

1st resistance: 152.26
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

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

Pivot: 1.4088
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 1.3955
Supporting reasons: Identified as pullback support close to 61.8% Fibonacci retracement, indicating a key level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 1.4178
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

Price could potentially make a bullish continuation toward the 1st resistance.<\/p>\n\n\n\n

Pivot: 0.6484<\/p>\n\n\n\n

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

1st support: 0.6440
Supporting reasons: Identified as a swing-low support, suggesting a key support area where price could find support once again.<\/p>\n\n\n\n

1st resistance: 0.6557
Supporting reasons: Identified as a pullback resistance close to 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

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

Price could potentially make a bullish continuation toward the 1st resistance.<\/p>\n\n\n\n

Pivot: 0.5867<\/p>\n\n\n\n

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

1st support: 0.5816
Supporting reasons: Identified as a swing low support, suggesting a key support area where price could find support.<\/p>\n\n\n\n

1st resistance: 0.5935
Supporting reasons: Identified as an overlap resistance close to 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

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

Price could potentially make a bullish continuation toward the 1st resistance.<\/p>\n\n\n\n

Pivot: 44,524.83<\/p>\n\n\n\n

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

1st support: 43,330.61<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support, indicating a potential level where price could find support.<\/p>\n\n\n\n

1st resistance: 45,536.44<\/p>\n\n\n\n

Supporting reasons: Aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

Price could potentially make a bullish continuation toward the 1st resistance.<\/p>\n\n\n\n

Pivot: 19,159.78<\/p>\n\n\n\n

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

1st support: 18,910.28<\/p>\n\n\n\n

Supporting reasons: Identified as a multi-swing low support, indicating a key level where price could find support once more.<\/p>\n\n\n\n

1st resistance: 19,680.84
Supporting reasons: Identified as a swing-high resistance close to 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

Price could potentially make a bullish continuation toward the 1st resistance.<\/p>\n\n\n\n

Pivot: 5,965.82<\/p>\n\n\n\n

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

1st support: 5,872,10<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support that aligns with a 50% Fibonacci retracement, indicating a potential level where price could find support again.<\/p>\n\n\n\n

1st resistance: 6,143.88
Supporting reasons: Aligns with 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

Price could potentially make a bearish breakout off the pivot and fall toward the 1st support.<\/p>\n\n\n\n

Pivot: 97,227.20
Supporting reasons: Identified as an overlap resistance close to 78.6% Fibonacci retracement, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 91,788.09
Supporting reasons: Identified as an overlap support that aligns with the 23.6% Fibonacci retracement, indicating a potential level where price could find support.<\/p>\n\n\n\n

1st resistance: 99,462.79
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

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

Pivot: 3,740.72<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap resistance close to 161.8% Fibonacci extension, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 3,486.97
Supporting reasons: Identified as a pullback support, indicating a potential level where price could find support once again<\/p>\n\n\n\n

1st resistance: 3893.83
Supporting reasons:  Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

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

Pivot: 68.23
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to stage a rebound<\/p>\n\n\n\n

1st support: 66.76
Supporting reasons: Identified as a swing-low support, indicating a key level where price could find support once again.<\/p>\n\n\n\n

1st resistance: 70.78
Supporting reasons: Identified as a pullback resistance that aligns with a 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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

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

Potential Direction: Bearish<\/h1>\n\n\n\n

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

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

Pivot: 2684.07<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance close to 61.8% Fibonacci retracement, indicating a potential area where selling pressures could intensify.<\/p>\n\n\n\n

1st support: 2607.07<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support that aligns with 61.8% Fibonacci retracement, indicating a potential level where price could find support.<\/p>\n\n\n\n

1st resistance: 2728.19
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.<\/p>\n\n\n\n

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

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DXY (US Dollar Index): Potential Direction: BearishOverall momentum of the chart: […]<\/p>\n","protected":false},"author":8,"featured_media":72982,"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\/73322"}],"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=73322"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73322\/revisions"}],"predecessor-version":[{"id":73325,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73322\/revisions\/73325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/72982"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=73322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}