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Wednesday 27th November 2024: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price could potentially make a bearish continuation toward the 1st support 

Pivot: 107.60
Supporting reasons: Identified as a multi-swing high, indicating a potential area where selling pressures could intensify.

1st support: 106.14
Supporting reasons: Identified as an overlap support, indicating a potential level where price could find support once more.

1st resistance: 108.43
Supporting reasons: CAligns with 61.8% Fibonacci projection, indicating a potential area that could halt any further upward movement.

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could potentially make a bearish continuation toward the 1st support 

Pivot: 1.0516
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 1.0335

Supporting reasons: Identified as a swing low support, indicating a potential level where price could find support once more.

1st resistance: 1.0648
Supporting reasons: Identified as a pullback resistance close to 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

EUR/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could potentially make a bearish continuation toward the 1st support 

Pivot: 162.16
Supporting reasons: Identified as a pullback esistance, indicating a potential area where selling pressures could intensify.

1st support: 158.22

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.

1st resistance: 164.89
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

EUR/GBP:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could potentially make a bearish reaction off the pivot and drop toward the 1st support 

Pivot: 0.8376

Supporting reasons: Identified as an overlap esistance close to 61.8% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 0.8266

Supporting reasons: Identified as a swing low support, indicating a potential level where price could find support once more.

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

GBP/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off the pivot and rise toward the 1st resistance

Pivot: 1.2501
Supporting reasons: Identified as a swing low support, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 1.2411

Supporting reasons: aligns with the 161.80% Fibonacci extension, indicating a potential level where price could find support once more.

1st resistance:  1.2615
Supporting reasons: Identified as an overlap resistance aligns with the 23.6% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

GBP/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

Price could potentially make a bearish continuation toward the 1st support 

Pivot: 162.86
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify

1st support: 190.86
Supporting reasons: Identified as an overlap support close to 78.6% Fibonacci projection, indicating a key level where price could find support once more.

1st resistance: 195.63
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

USD/CHF:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off the pivot and rise toward the 1st resistance

Pivot: 0.8855
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 0.8765
Supporting reasons: Identified as a pullback support, indicating a potential level where price could find support once more.

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

USD/JPY:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off the pivot and rise toward the 1st resistance

Pivot: 152.42

Supporting reasons: Identified as an overlap support close to 127.2% Fibonacci extension, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 151.58
Supporting reasons: Identified as a swing low support close to 161.8% Fibonacci extension,, indicating a potential level where price could find support once again.

1st resistance: 155.73
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

USD/CAD:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could potentially make a bearish continuation toward the 1st support 

Pivot: 1.4088
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

1st support: 1.4012
Supporting reasons: Identified as pullback support close to 61.8% Fibonacci extension, indicating a key level where price could find support once more.

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

AUD/USD:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price is rising towards the pivot and could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 0.6484
Supporting reasons: Identified as a pullback esistance, indicating a potential area where selling pressures could intensify.

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

1st resistance: 0.6542
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: Bearish

Price is rising towards the pivot and could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 0.5879
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.5800
Supporting reasons: Identified as a swing low support aligning with 127.2% Fibonacc extension, suggesting a key support area where price could find support.

1st resistance: 0.5935
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could potentially make a bullish continuation toward the 1st resistance.

Pivot: 44,524.83

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

1st support: 43,330.61

Supporting reasons: Identified as an overlap support, indicating a potential level where price could find support.

1st resistance: 45,536.44

Supporting reasons: Aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could potentially make a bullish continuation toward the 1st resistance.

Pivot: 119,233.67

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

1st support: 18,910.28

Supporting reasons: Identified as a multi-swing low support, indicating a key level where price could find support once more.

1st resistance: 19,680.84
Supporting reasons: Identified as a swing-high 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

Price could potentially make a bullish continuation toward the 1st resistance.

Pivot: 5,965.82

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

1st support: 5,872,10

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

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

BTC/USD (Bitcoin):

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price could rise towards the pivot and potentially make a bearish reversal off this level to pull back towards the 1st support.

Pivot: 95,809.18
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

1st support: 89,047.27
Supporting reasons: Identified as an overlap support t, indicating a potential level where price could find support.

1st resistance: 99,462.79
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

Price could potentially make a bearish continuation toward the 1st support 

Pivot: 3,490.38
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 3,223.61
Supporting reasons: Identified as a pullback support that aligns with a 61.8% Fibonacci retracement, indicating a potential level where price could find support once again.

1st resistance: 3,713.93
Supporting reasons: Aligns with 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could potentially make a bullish bounce off the pivot and rise toward the 1st resistance

Pivot: 68.91
Supporting reasons: Identified as an overlap support close to 61.8% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 67.10
Supporting reasons: Identified as a multi-swing-low support, indicating a key level where price could find support once again.

1st resistance: 70.27
Supporting reasons: Identified as a pullback resistance that aligns with a 50% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):


Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could potentially a bullish continuation toward the 1st resistance

Pivot: 2607.07
Supporting reasons: Identified as a pullback support close to 61.8% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound

1st support: 2546,12

Supporting reasons: Identified as a swing low support, indicating a potential level where price could find support.

1st resistance: 2656.96
Supporting reasons: Identified as a pullback resistance, indicating a potential area that could halt any further upward movement.

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