Potential Direction: Bullish
Overall momentum of the chart: Bullish
Price could potentially make a: Bullish bounce off pivot and head towards 1st resistance.
Pivot: 100.97
Supporting reasons: Pullback resistance, indicating this level could act as a significant resistance point.
1st support: 100.20
Supporting reasons: Multi-swing low support, suggesting this level may provide a strong point of support if the price declines.
1st resistance: 101.86
Supporting reasons: Multi-swing high resistance, marking a level where the price might encounter selling pressure if it attempts to rise.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: Bearish reaction off pivot and drop to 1st support.
Pivot: 1.1127
Supporting reasons: Pullback support and 50% Fibonacci Retracement, suggesting this level could act as a significant resistance point.
1st support: 1.1048
Supporting reasons: An overlap support, indicating this level may provide strong support if the price declines.
1st resistance: 1.1208
Supporting reasons: Swing high resistance, marking a level where the price might encounter selling pressure if it attempts to rise.
Potential Direction: Bullish
Overall momentum of the chart: Bullish
Price could potentially make a: Bullish continuation towards 1st resistance.
Pivot: 158.45
Supporting reasons: An overlap support, indicating this level may act as a significant support point.
1st support: 155.52
Supporting reasons: Multi-swing low support, suggesting this level could provide a strong point of support if the price declines.
1st resistance: 162.75
Supporting reasons: Multi-swing high resistance, marking a level where the price may face selling pressure if it rises.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: Bearish reaction off pivot and drop to 1st support.
Pivot: 0.8388
Supporting reasons: An overlap resistance and 23.60% Fibonacci Retracement, suggesting this level could act as a significant resistance point.
1st support: 0.8316
Supporting reasons: Multi-swing low support, indicating this level may provide a strong point of support if the price declines.
1st resistance: 0.8453
Supporting reasons: An overlap resistance, marking a level where the price might face selling pressure if it attempts to rise.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: Bearish reaction off pivot and drop to 1st support.
Pivot: 1.3316
Supporting reasons: Pullback resistance and 38.20% Fibonacci Retracement, suggesting this level could act as a significant resistance point.
1st support: 1.3230
Supporting reasons: An overlap support and 50% Fibonacci Retracement, indicating this level may provide strong support if the price declines.
1st resistance: 1.3426
Supporting reasons: Multi-swing high resistance, marking a level where the price might encounter selling pressure if it attempts to rise.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: Bearish reaction off pivot and drop to 1st support.
Pivot: 193.33
Supporting reasons: An overlap resistance and 61.80% Fibonacci retracement, indicating this level could act as a significant resistance point.
1st support: 189.81
Supporting reasons: An overlap support and 50% Fibonacci Retracement, suggesting this level may provide a strong point of support if the price declines.
1st resistance: 195.98
Supporting reasons: Swing high resistance, marking a level where the price might encounter selling pressure if it attempts to rise.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: Bearish continuation towards 1st support.
Pivot: 0.8481
Supporting reasons: An overlap resistance and 61.80% Fibonacci Retracement, indicating this level could act as a significant resistance point.
1st support: 0.8404
Supporting reasons: Multi-swing low support, suggesting this level may provide strong support if the price declines.
1st resistance: 0.8544
Supporting reasons: Multi-swing high resistance, marking a level where the price might encounter selling pressure if it attempts to rise.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: bearish continuation towards 1st support
Pivot: 144.65
Supporting reasons: Pullback resistance and 61.80% Fibonacci Retracement, indicating this level could act as a significant resistance point.
1st support: 142.15
Supporting reasons: Multi-swing low support, suggesting this level may provide a strong point of support if the price declines.
1st resistance: 147.18
Supporting reasons: Multi-swing high resistance, marking a level where the price might encounter selling pressure if it attempts to rise.
Potential Direction: Bullish
Overall momentum of the chart: Neutral
Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.
Pivot: 1.3463
Supporting reasons: Identified as a pullback support that aligns with a 61.8% Fibonacci retracement, suggesting a potential area where buying interests could pick up to stage a minor rebound.
1st support: 1.3423
Supporting reasons: Identified as a swing-low support, indicating a key level where price has found support recently.
1st resistance: 1.3540
Supporting reasons: Identified as an overlap resistance that aligns with a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement. The presence of the red Ichimoku Cloud adds further significance to the strength of the bearish momentum.
Potential Direction: Bearish
Overall momentum of the chart: Bullish
Price is rising towards the pivot and could potentially make a bearish reversal off this level to pull back towards the 1st support.
Pivot: 0.6993
Supporting reasons: Identified as an overlap resistance that aligns with a 78.6% Fibonacci projection, indicating a potential level where selling pressures could intensify.
1st support: 0.6868
Supporting reasons: Identified as a pullback support that aligns with a 23.6% Fibonacci retracement, indicating a potential level where price could find support once more.
1st resistance: 0.7142
Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential area that could halt any further upward movement.
Potential Direction: Bearish
Overall momentum of the chart: Bullish
Price is rising towards the pivot and could potentially make a bearish reversal off this level to pull back towards the 1st support.
Pivot: 0.6402
Supporting reasons: Identified as a swing-high resistance that aligns close to a 61.8% Fibonacci projection, suggesting a potential level where selling pressures could intensify.
1st support: 0.6277
Supporting reasons: Identified as a swing-low support that aligns with a 38.2% retracement indicating a potential level where price could find support again.
1st resistance: 0.6530
Supporting reasons: Identified as a multi-swing-high resistance, indicating a potential area that could halt any further upward movement.
Potential Direction: Bullish
Overall momentum of the chart: Neutral
Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.
Pivot: 41,855.66
Supporting reasons: Identified as an overlap support, suggesting a potential area where buying interests could pick up to stage a rebound. The presence of the green Ichimoku Cloud adds further significance to the strength of the bullish momentum.
1st support: 41,432.30
Supporting reasons: Identified as an overlap support that aligns close to a 50% Fibonacci retracement, indicating a potential level where price could find support.
1st resistance: 42,654.55
Supporting reasons: Identified as a swing-high resistance that aligns with a confluence of Fibonacci levels i.e. a 78.6% projection and a 161.8% extension, indicating a potential area that could halt any further upward movement.
Potential Direction: Bullish
Overall momentum of the chart: Neutral
Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.
Pivot: 19,049.50
Supporting reasons: Identified as a pullback support that aligns close to a 38.2% Fibonacci retracement, suggesting a potential area where buying interests could pick up to stage a rebound. The presence of the green Ichimoku Cloud adds further significance to the strength of the bullish momentum.
1st support: 18,715.40
Supporting reasons: Identified as a pullback support that aligns close to a 61.8% Fibonacci retracement, indicating a key level where price could find support once more.
1st resistance: 19,493.70
Supporting reasons: Identified as a swing-high resistance that aligns with a confluence of Fibonacci levels i.e. two 161.8% extensions, indicating a potential area that could halt any further upward movement.
Potential Direction: Bullish
Overall momentum of the chart: Neutral
Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance.
Pivot: 5,669.89
Supporting reasons: Identified as a pullback support that aligns close to a 23.6% Fibonacci retracement, suggesting a potential area where buying interests could pick up to stage a rebound. The presence of the green Ichimoku Cloud adds further significance to the strength of the bullish momentum.
1st support: 5,600.60
Supporting reasons: Identified as an overlap support that aligns close to a 50% Fibonacci retracement, indicating a potential level where price could find support once again.
1st resistance: 5,767.00
Supporting reasons: Identified as a swing-high resistance that aligns close to the all-time high, indicating a potential area that could halt any further upward movement.
Potential Direction: Bullish
Overall momentum of the chart: Bearish
Price has made a bullish reaction off the pivot and could potentially rise towards the 1st resistance.
Pivot: 60,780.85
Supporting reasons: Identified as a swing-low support, suggesting a potential level where buying interests could pick up to stage a rebound.
1st support: 57,935.37
Supporting reasons: Identified as an overlap support that aligns with a 61.8% Fibonacci retracement, indicating a potential level where price could find support once more.
1st resistance: 64,044.22
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.
Potential Direction: Bullish
Overall momentum of the chart: Bearish
Price has made a bullish reaction off the pivot and could potentially rise towards the 1st resistance.
Pivot: 2,441.18
Supporting reasons: Identified as an overlap support that aligns with a 50% Fibonacci retracement, suggesting a potential level where buying interests could pick up to stage a rebound.
1st support: 2,271.00
Supporting reasons: Identified as a pullback support that aligns close to a 78.6% Fibonacci retracement, indicating a potential level where price could find support once again.
1st resistance: 2,562.83
Supporting reasons: Identified as an overlap resistance that aligns close to a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.
Potential Direction: Bearish
Overall momentum of the chart: Neutral
Price could rise towards the pivot and potentially make a bearish reversal off this level to fall towards the 1st support.
Pivot: 73.03
Supporting reasons: Identified as a swing-high resistance that aligns close to a 61.8% Fibonacci retracement, suggesting a potential level where selling pressures could intensify.
1st support: 69.89
Supporting reasons: Identified as an overlap support that aligns with a 50% Fibonacci retracement, indicating a key level where price could find support.
1st resistance: 74.79
Supporting reasons: Identified as an overlap resistance that aligns with a 127.2% Fibonacci extension, indicating a potential area that could halt any further upward movement.
Potential Direction: Bearish
Overall momentum of the chart: Bearish
Price could potentially make a: Bearish continuation towards 1st support.
Pivot: 2672.77
Supporting reasons: Multi-swing high resistance, indicating this level could act as a significant resistance point.
1st support: 2631.77
Supporting reasons: An overlap support, suggesting this level may provide a strong point of support if the price declines.
1st resistance: 2701.21
Supporting reasons: 127.20% Fibonacci Extension, marking a level where the price might encounter selling pressure if it attempts to rise.
The accuracy, completeness and timeliness of the information contained on this site cannot be guaranteed. IC Markets does not warranty, guarantee or make any representations, or assume any liability regarding financial results based on the use of the information in the site.
News, views, opinions, recommendations and other information obtained from sources outside of www.icmarkets.com, used in this site are believed to be reliable, but we cannot guarantee their accuracy or completeness. All such information is subject to change at any time without notice. IC Markets assumes no responsibility for the content of any linked site.
The fact that such links may exist does not indicate approval or endorsement of any material contained on any linked site. IC Markets is not liable for any harm caused by the transmission, through accessing the services or information on this site, of a computer virus, or other computer code or programming device that might be used to access, delete, damage, disable, disrupt or otherwise impede in any manner, the operation of the site or of any user’s software, hardware, data or property.
The post Wednesday 2nd October 2024: Technical Outlook and Review first appeared on IC Markets | Official Blog.
Leave a Reply