DXY:
The current chart for DXY exhibits a bearish overall momentum, implying the likelihood of a bearish continuation, primarily targeting the 1st support level.
The 1st support level at 105.40 holds significance as it aligns with both an overlap support and the 50% Fibonacci Retracement level. This confluence indicates a substantial zone where we might witness a noteworthy influx of buyers or a pause in the prevailing bearish trend.
Supporting this, the 2nd support at 104.95 is identified as a multi-swing low support. This classification reinforces its credibility as a support level, signifying past instances where buying interest emerged, making it a key reference point.
On the flip side, we encounter the 1st resistance at 105.95, characterized as an overlap resistance and coinciding with the 50% Fibonacci Retracement level. This juncture suggests the potential for heightened selling interest, possibly serving as a hindrance to any substantial upward movement.
Additionally, the 2nd resistance at 106.46 is classified as a pullback resistance, signifying another noteworthy level where price action could encounter selling pressure as it continues its bearish momentum
EUR/USD:
The EUR/USD chart currently exhibits a bullish overall momentum, but there is a short-term potential for a drop towards the 1st support level before a bounce that could lead to a rise towards the 1st resistance level.
The 1st support level at 1.0764 is considered a pullback support. This level is expected to provide a solid foundation for potential buyers, acting as a point of interest where the price may find support during any short-term decline.
Supporting this, the 2nd support at 1.0663 is identified as an overlap support. Overlap supports often carry significance as they indicate areas where price has previously found support, making them relevant levels to watch.
On the flip side, the 1st resistance at 1.0884 is characterized as a multi-swing high resistance. This level suggests a notable zone where selling interest may intensify, potentially serving as a barrier to further upward movement in the short term.
Additionally, the 2nd resistance at 1.0943 is categorized as a swing high resistance. This level adds another layer of resistance, indicating a point where the price could encounter increased selling pressure during its potential rise.
An intermediate support level at 1.0826 is also noted, serving as an additional pullback support. This level adds further reinforcement to the idea of a short-term drop followed by a potential bounce from the 1st support.
GBP/USD:
The GBP/USD chart currently displays a bullish overall momentum, but there’s a possibility of a short-term drop towards the 1st support level before a potential bounce that could lead to a rise towards the 1st resistance level.
The 1st support level at 1.2423 is identified as a pullback support. This level is expected to be a point of interest for potential buyers in the short term, possibly acting as a support zone where the price could find some stability during a downward move.
Similarly, the 2nd support at 1.2301 is also considered a pullback support. These pullback support levels indicate areas where buyers have previously stepped in, adding to their significance as relevant support levels to monitor.
On the resistance side, the 1st resistance at 1.2499 is noteworthy as it aligns with the 127.20% Fibonacci Extension level. This Fibonacci extension level suggests a potential zone where selling interest may intensify, acting as a barrier to further upward movement.
Furthermore, the 2nd resistance at 1.2580 is categorized as an overlap resistance and coincides with the 161.80% Fibonacci Extension level. This level adds another layer of resistance, indicating a point where the price could encounter increased selling pressure during its potential rise.
USD/JPY:
The USD/JPY chart currently has a bullish overall momentum, suggesting the potential for a bullish bounce off the 1st support level and a move towards the 1st resistance.
The 1st support level at 150.26 is identified as an overlap support and also coincides with the 61.80% Fibonacci Retracement level. This confluence indicates a significant level of support where traders may anticipate buying interest or a pause in the bullish movement.
The 2nd support at 149.28 is considered a swing low support, further reinforcing its potential as a support level. Swing lows often represent areas where buyers have previously stepped in, making it a relevant support level.
On the resistance side, the 1st resistance at 151.71 is categorized as a multi-swing high resistance, suggesting that there could be selling interest in this area. This level could act as a barrier to further upward movement.
The 2nd resistance at 152.66 is noted as a level where the price may encounter selling pressure and corresponds to the -27% Fibonacci Extension level.
USD/CAD:
The USD/CAD chart currently shows an overall bearish momentum, indicating the potential for further downside movement should price break under the downside confirmation.
The downside confirmation level at 1.3685 is identified as a pullback support that aligns close to the 78.60% Fibonacci retracement level while the 1st support level at 1.3642 is marked as a swing-low support that aligns close to the 78.60% Fibonacci projection level. Further below, the 2nd support level at 1.3575 is noted as a pullabck support that aligns close to the 100.00% Fibonacci projection level.
To the upside, the 1st resistance level at 1.3736 is identified as an overlap resistance. Higher up, the 2nd resistance level at 1.3824 is also marked as an overlap resistance that aligns close to the 78.60% Fibonacci retracement level.
AUD/USD:
The AUD/USD chart currently exhibits an overall bullish momentum, suggesting the potential for a bullish continuation towards the 1st resistance.
The intermediate resistance level at 0.6507 is identified as a pullback resistance. Higher up, the 1st resistance level at 0.6522 is marked as a multi-swing-high resistance, suggesting that it could serve as a strong resistance level.
On the support side, the downside confirmation level at 0.6493 is identified as a pullback support. Should price break below this level, it could trigger a bearish move towards the 1st support level. The 1st support level at 0.6455 is noted as a pullback support. Further below, the 2nd support level at 0.6399 is also marked as a pullback support that aligns with a confluence of Fibonacci levels i.e. the 61.80% retracement and the 61.80% projection levels, suggesting a significant support level.
NZD/USD:
The NZD/USD chart currently exhibits an overall bullish momentum, suggesting the potential for further upward movement.
The 1st resistance level at 0.6014 is identified as a pullback resistance while the 2nd resistance level at 0.6049 is marked as a multi-swing-high resistance, indicating its potential strength as a barrier to further bullish movement.
To the downside, the 1st support level at 0.5940 is identified as a pullback support that aligns close to the 50.00% Fibonacci retracement level. Further below, the 2nd support level at 0.5912 is also noted as a pullback support that aligns with the 61.80% Fibonacci retracement level, signifying its significance as a strong support area.
