ICMarket

Friday 1st August 2025: Technical Outlook and Review

DXY (U.S. Dollar Index):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price is trading near the pivot and could make a bearish reversal off and fall toward the 1st support. 

Pivot: 100.49
Supporting reasons: Identified as an overlap resistance that aligns closely with the 161.8% Fibonacci extension, indicating a potential area where selling interests could pick up to resume the downtrend.

1st support: 99.28

Supporting reasons: Identified as a pullback support, indicating a potential area where the price could again stabilize.

1st resistance: 101.97
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

EUR/USD:

Potential Direction: Bullish 

Overall momentum of the chart: Bullish

The price is trading near the pivot and could make a bullish bounce off and rise toward the 1st resistance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

Pivot: 1.1374
Supporting reasons: Identified as an overlap support that aligns closely with the 161.8% Fibonacci extension, indicating a potential area where buying interest could pick up.

1st support: 1.1233
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 1.526
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

EUR/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could rise toward the pivot and make a bearish reversal off this level and drop toward the 1st support.

Pivot: 172.65

Supporting reasons: Identified as a pullback resistance that aligns closely with the 161.8% Fibonacci extension, indicating a potential area where selling pressures could intensify.

1st support: 170.50
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could again stabilize.

1st resistance: 173.89
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

EUR/GBP: 

Potential Direction: Bearish
Overall momentum of the chart: Bullish

The price could rise toward the pivot and make a bearish reversal off this level and drop toward the 1st support.

Pivot: 0.8693

Supporting reasons: Identified as a pullback resistance that aligns with the 61.8% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 0.85.93
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 0.8751
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bullish
Overall momentum of the chart: Bullish

The price could make a bullish bounce off the pivot and rise toward the 1st resistance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

Pivot: 1.3320
Supporting reasons: Identified as an overlap support that aligns closely with 161.8% Fibonacci extension, indicating a potential area where buying interest could pick up.

1st support: 1.3016
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.3356
Supporting reasons: Identified as a pullback resistance that aligns closely with the 38.2% Fibonacci retracement, indicating a potential level that could halt further upward movement.

GBP/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price is falling toward the pivot and could make a bullish bounce off this level and rise  toward the 1st resistance

Pivot: 198.27
Supporting reasons: Identified as an overlap support that aligns with the 50% Fibonacci retracement, indicating a potential area where buying interest could pick up.

1st support: 196.78
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once more.

1st resistance: 199.80
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential level that could halt further upward movement.

USD/CHF:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price is falling toward the pivot and could make a bullish bounce off this level and rise toward the 1st resistance.

Pivot: 0.8073
Supporting reasons: Identified as a pullback support, indicating a potential area where selling interests could pick up to stage a rebound.

1st support: 0.7990
Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8155
Supporting reasons: Identified as a pullback resistance that aligns closely with the 161.8% Fibonacci extension, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bearish 

Overall momentum of the chart: Bullish

The price could face rejection from the pivot area and decline toward the 1st support.

Pivot: 151.18

Supporting reasons: Identified as a key horizontal level and previous swing point, coinciding closely with the upper boundary of the rising price channel and the 78.6% Fibonacci projection and the 161.8% Fibonacci extension, making it a potential reversal area where selling interest could increase.

1st support: 149.04
Supporting reasons: Marked as a significant horizontal and a pullback support, indicating a strong area where buyers might return, and the price could stabilize once again.

1st resistance: 154.51
Supporting reasons: Identified as a swing high resistance, strategically positioned at a psychological round number. This level represents the next key area where upward movement could be capped amid increased selling pressure

USD/CAD:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

The price could fall toward the pivot and make a bullish bounce off this level  and rise toward the 1st resistance,

Pivot: 1.3781

Supporting reasons: Identified as a horizontal level and previous resistance-turned-support. This level may attract buying interest, acting as a springboard for further upward momentum.

1st support: 1.3619

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

1st resistance: 1.3893

Supporting reasons: Identified as a clear resistance that aligns with the 161.8% Fibonacci extension, making it a possible target for bullish advances and a level where some sellers could return to cap gains

AUD/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could continue its downward move, potentially bouncing off the 1st support before any significant retracement.

Pivot: 0.6469

Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.6372

Supporting reasons: Identified as a swing low support lining up closely with the 161.8% Fibonacci extension, this area has provided strong support historically and may attract buying interest for a potential short-term bounce

1st resistance: 0.6540
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could continue its downward move, potentially bouncing off the 1st support before any significant retracement.

Pivot: 0.5939

Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.5861

Supporting reasons: Identified as a swing low support lining up with the 127.2% Fibonacci extension, this area has provided strong support historically and may attract buying interest for a potential short-term bounce

1st resistance: 0.6001

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

US30 (DJIA):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could rise toward the pivot and make a bearish reversal off and fall toward the 1st support. 

Pivot: 44,333.14
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling interests could pick up to resume the downtrend.

1st support: 43,224.84

Supporting reasons: Identified as a pullback support that lines up closely with the 61.8% Fibonacci retracement, suggesting a potential area where the price could stabilize once again.

1st resistance: 45,102.80

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

DE40 (DAX):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price is falling toward the pivot and could make a bullish bounce off and rise toward the 1st resistance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

Pivot: 23,775.54

Supporting reasons: Identified as an overlap support, indicating a potential area where buying interest could pick up.

1st support: 23,392.03

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

1st resistance: 24,204.33
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

US500 (S&P 500): 

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price is falling toward the pivot and could make a bullish bounce off and rise toward the 1st resistance. 

Pivot: 6,287.27

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

1st support: 6,173.45

Supporting reasons: Identified as a pullback support that aligns with the 50% Fibonacci retracement, indicating a potential level where the price could stabilize once again.

1st resistance: 6,372.39

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

BTC/USD (Bitcoin):

Potential Direction: Bearish 

Overall momentum of the chart: Bullish

The price could rise toward the pivot and make a bearish reversal off this level and drop toward the 1st support.

Pivot: 117,198.96

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

1st support: 113.437.24

Supporting reasons: Identified as a support that is supported by the 161.8% Fibonacci extension, indicating a potential level where the price could stabilize once more.

1st resistance: 119,701.19

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

ETH/USD (Ethereum):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could make a bearish fall from the pivot toward the 1st suport

Pivot: 3,737.95

Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

1st support: 3,462.22

Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once more.

1st resistance: 3,931.72
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: Bullish

The price could fall toward the pivot and make a bullish bounce off this level and rise toward the 1st resistance.

Pivot: 68.21
Supporting reasons: Identified as a pullback support, indicating a potential area where selling interests could pick up to stage a rebound.

1st support: 65.56
Supporting reasons: Identified as a multi-swing swing low support, indicating a key level where the price could stabilize once more.

1st resistance: 72.91
Supporting reasons: Identified as a pullback resistance that lines up closely with the 61.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could continue its downward move, potentially bouncing off the 1st support before any significant retracement.

Pivot: 3306.31

Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 3,239.07
Supporting reasons: Identified as a pullback support that lines up closely with the 61.8% Fibonacci projection and the 161.8% Fibonacci extension,  indicating a key level where the price could stabilize once more.

1st resistance: 3,357.09
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

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