ICMarket

Friday 8th August 2025: Technical Outlook and Review

DXY (U.S. Dollar Index):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

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

Pivot: 97.79
Supporting reasons: Identified as a pullback support that aligns closely with the 78.6% Fibonacci projection, indicating a potential area where buying interest could pick up.

1st support: 97.20

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

1st resistance: 98.59
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

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

Pivot: 1.1672

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

1st support: 1.1584
Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once again.

1st resistance: 1.1773
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential level that could cap further upward movement.

EUR/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price is falling toward the pivot and could make a bullish move toward the 1st resistance

Pivot: 170.94
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interest could pick up.

1st support: 169.74
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could again stabilize.

1st resistance: 172.65
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

EUR/GBP: 

Potential Direction: Bearish
Overall momentum of the chart: Bullish

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

Pivot: 0.8686

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

1st support: 0.8640
Supporting reasons: Identified as a pullback 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: 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: 1.3472

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

1st support: 1.3366
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.3590
Supporting reasons: Identified as an overlap resistance, 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 move toward the 1st resistance

Pivot: 196.94
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interest could pick up.

1st support: 196.37
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once more.

1st resistance: 198.94
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could halt further upward movement.

USD/CHF:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price could continue to make a bearish drop downward the 1st support.

Pivot: 0.8117

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: 0.8020
Supporting reasons: Identified as a pullback support that aligns closely with the 61.8% Fibonacci retracement, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8196
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price has already reacted off the pivot and could continue to fall toward the 1st support.

Pivot: 147.92
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 145.94
Supporting reasons: Marked as a multi-swing low support, indicating a strong area where buyers might return, and the price could stabilize once again.

1st resistance: 148.94
Supporting reasons: Identified as a pullback resistance. This level represents the next key area where upward movement could be capped amid increased selling pressure

USD/CAD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price has already reacted off the pivot and could continue to fall toward the 1st support.

Pivot: 1.3767
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 1.3687

Supporting reasons: Identified as a pullback support that aligns closely with the 61.8% Fibnacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 1.3814

Supporting reasons: Identified as an overlap resistance, 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 is rising toward the pivot and could make a bearish reversal off and fall toward the 1st support.

Pivot: 0.6542

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: 0.6487

Supporting reasons: Identified as an overlap support, this area has provided strong support historically and may attract buying interest for a potential short-term bounce

1st resistance: 0.6583
Supporting reasons: Identified as an overlap 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 is rising toward the pivot and could make a bearish reversal off and fall toward the 1st support.

Pivot: 0.5980

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: 0.5924

Supporting reasons: Identified as a pullback support, this area has provided strong support historically and may attract buying interest for a potential short-term bounce

1st resistance: 0.6004

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 is rising toward the pivot and could make a bearish reversal off and fall toward the 1st support. 

Pivot: 44,269.45
Supporting reasons: Identified as a pullback that aligns with the 61.8% Fibonacci retracement, indicating a potential area where selling interests could pick up to resume the downtrend.

1st support: 43,768.23

Supporting reasons: Identified as an overlap support that aligns with the 61.8% Fibonacci retracement, suggesting a potential area where the price could stabilize once again.

1st resistance: 44,775.82

Supporting reasons: Identified as an overlap resistance,  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 move toward the 1st resistance

Pivot: 24,044.69
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interest could pick up.

1st support: 23,783.33

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

1st resistance: 24,449.51
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 has already bounced off the pivot and continues to make a bullish rise toward the pivot


Pivot: 6,316.63

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

1st support: 6,214.78

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

1st resistance: 6,436.72

Supporting reasons: Identified as a 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: Bullish

The price is rising toward the pivot and could make a bearish move toward the 1st support.

Pivot: 118,505.46

Supporting reasons: Identified as an overlap resistance that lines up with the 127.2% Fibonacci projection, indicating a potential area where selling pressures could intensify.

1st support: 115,747.36

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

1st resistance: 120,260.61

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

ETH/USD (Ethereum):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could fall toward the pivot and make a bullish move toward the 1st resistance

Pivot: 3,760.94
Supporting reasons: Identified as a pullback support, indicating a potential area where buying interest could pick up.

1st support: 3,560.38

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

1st resistance: 3,936.31
Supporting reasons: Identified as a swing high resistance that aligns with the 100% Fibonacci projection,  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 make a bullish bounce off this level and rise toward the 1st resistance.

Pivot: 64.27
Supporting reasons: Identified as a pullback support that lines up with the 127.2% Fibonacci extension, indicating a potential area where selling interests could pick up to stage a rebound.

1st support: 61.67
Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 66.13
Supporting reasons: Identified as a pullback resistance,  indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price is falling toward the pivot and could make a bullish move toward the 1st resistance

Pivot: 3,383.26
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interest could pick up.

1st support: 3,355.96
Supporting reasons: Identified as an overlap support, indicating a key level where the price could stabilize once more.

1st resistance: 3,420.30
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

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