{"id":65947,"date":"2024-04-30T13:51:51","date_gmt":"2024-04-30T03:51:51","guid":{"rendered":"https:\/\/www.icmarkets-vnd.com\/blog\/?p=65947"},"modified":"2024-04-30T13:51:53","modified_gmt":"2024-04-30T03:51:53","slug":"tuesday-30th-april-2024-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/tuesday-30th-april-2024-technical-outlook-and-review\/","title":{"rendered":"Tuesday 30th April 2024: Technical Outlook and Review"},"content":{"rendered":"\n

DXY (US Dollar Index):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Factors contributing to the momentum is that price is: In a bearish descending channel<\/p>\n\n\n\n

Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n

PIvot: 105.92<\/p>\n\n\n\n

Supporting reasons: Pullback support at the 61.80% Fibonacci Retracement level, indicating a significant level where buyers might step in to support the price, potentially providing a foundation for a bounce or temporary halt in the bearish momentum.<\/p>\n\n\n\n

1st support: 104.07<\/p>\n\n\n\n

Supporting reasons: Multi-swing low support, representing a level where buyers have previously intervened to support the price.<\/p>\n\n\n\n

1st resistance: 106.37<\/p>\n\n\n\n

Supporting reasons: Multi-swing high resistance, acting as a barrier to further upside movement within the context of the overall bearish trend.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

EUR\/USD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Factors contributing to the momentum is that price is: In a bullish ascending channel<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n

Pivot: 1.0680<\/p>\n\n\n\n

Supporting reasons: An Overlap support, indicating a significant level where buyers might step in to support the price.<\/p>\n\n\n\n

1st support: 1.0638<\/p>\n\n\n\n

Supporting reasons: An Overlap support, suggesting another level where buyers have previously intervened to support the price.<\/p>\n\n\n\n

1st resistance: 1.0775<\/p>\n\n\n\n

Supporting reasons: Pullback resistance at the 61.80% Fibonacci Retracement level, suggesting a level where selling pressure might intensify, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

EUR\/JPY:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n

Pivot: 165.25<\/p>\n\n\n\n

Supporting reasons: Pullback support, indicating a level where buyers might step in to support the price.<\/p>\n\n\n\n

1st support: 162.11<\/p>\n\n\n\n

Supporting reasons: An Overlap support, suggesting another level where buyers have previously intervened to support the price.<\/p>\n\n\n\n

1st resistance: 169.36<\/p>\n\n\n\n

Supporting reasons: Swing high resistance, representing a level where selling pressure might increase, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

<\/h1>\n\n\n\n

EUR\/GBP:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bearish break off pivot and drop towards 1st support.<\/p>\n\n\n\n

Pivot: 0.8530<\/p>\n\n\n\n

Supporting reasons: Pullback resistance, indicating a level where selling pressure might intensify.<\/p>\n\n\n\n

1st support: 0.8487<\/p>\n\n\n\n

Supporting reasons: 127.20% Fibonacci Extension, suggesting a significant level where buyers might step in to support the price.<\/p>\n\n\n\n

1st resistance: 0.8586<\/p>\n\n\n\n

Supporting reasons: An Overlap resistance, representing a level where selling pressure might increase, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

GBP\/USD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n

Pivot: 1.2595<\/p>\n\n\n\n

Supporting reasons: Pullback resistance, indicating a level where selling pressure might intensify.<\/p>\n\n\n\n

1st support: 1.2482<\/p>\n\n\n\n

Supporting reasons: An Overlap support, suggesting a level where buyers might step in to support the price.<\/p>\n\n\n\n

1st resistance: 1.2693<\/p>\n\n\n\n

Supporting reasons: An Overlap resistance, representing a level where selling pressure might increase, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

GBP\/JPY:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bullish bounce off pivot and head towards 1st resistance.<\/p>\n\n\n\n

Pivot: 193.50<\/p>\n\n\n\n

Supporting reasons: An Overlap support, indicating a level where buyers might step in to support the price.<\/p>\n\n\n\n

1st support: 190.21<\/p>\n\n\n\n

Supporting reasons: An Overlap support, suggesting a significant level where buyers have previously shown interest.<\/p>\n\n\n\n

1st resistance: 198.02<\/p>\n\n\n\n

Supporting reasons: Swing high resistance, representing a level where selling pressure might increase, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

USD\/CHF:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Strong bearish with high confidence<\/p>\n\n\n\n

Price could potentially make a bearish continuation towards 1st support.<\/p>\n\n\n\n

Pivot: 0.9152<\/p>\n\n\n\n

Supporting reasons: Multi-swing high resistance, indicating a significant level where selling pressure might intensify.<\/p>\n\n\n\n

1st support: 0.8995<\/p>\n\n\n\n

Supporting reasons: Multi-swing low support, suggesting a level where buyers might step in to support the price.<\/p>\n\n\n\n

1st resistance: 0.9242<\/p>\n\n\n\n

Supporting reasons: Swing high resistance, representing a level where selling pressure might increase, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

USD\/JPY:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price could potentially make a bearish continuation towards 1st support.<\/p>\n\n\n\n

Pivot: 160.19<\/p>\n\n\n\n

Supporting reasons: Swing high resistance, coinciding with the 161.80% Fibonacci Extension level.<\/p>\n\n\n\n

1st support: 151.94<\/p>\n\n\n\n

Supporting reasons: Pullback support, indicating a level where buyers might step in to support the price.<\/p>\n\n\n\n

1st resistance: 164.36<\/p>\n\n\n\n

Supporting reasons: Swing high resistance, representing a level where selling pressure might increase, potentially acting as a barrier to further upside movement.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

USD\/CAD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price could rise towards the pivot and potentially make a bearish reaction off this level to drop towards the 1st support<\/p>\n\n\n\n

Pivot: 1.3715<\/p>\n\n\n\n

Supporting reasons: Acts as an overlap resistance that aligns with a 38.2% Fibonacci retracement level, suggesting a significant area where selling pressures could increase.<\/p>\n\n\n\n

1st support: 1.3628<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support that aligns close to a 61.8% Fibonacci retracement level, suggesting an area where price has previously found strong buying interest to potentially halt any further downward movement.<\/p>\n\n\n\n

1st resistance: 1.3782<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement level, marking a significant barrier that could cap further upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

AUD\/USD:<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Bullish<\/p>\n\n\n\n

Price is falling towards the pivot and could potentially make a bullish reaction off this level to rise towards the 1st resistance<\/p>\n\n\n\n

Pivot: 0.6517<\/p>\n\n\n\n

Supporting reasons: Acts a pullback support where price has found strong buying interests recently.<\/p>\n\n\n\n

1st support: 0.6492<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback support that aligns close to a 38.2% Fibonacci retracement level, suggesting a significant area where price has previously found strong support and could provide a basis to halt further downward movement.<\/p>\n\n\n\n

1st resistance: 0.6576<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement level, marking a barrier that has previously capped upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

NZD\/USD<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price has made a bearish reaction off the pivot and could potentially drop toward the 1st support<\/p>\n\n\n\n

Pivot: 0.5974<\/p>\n\n\n\n

Supporting reasons: Acts an overlap resistance that aligns close to a 50% Fibonacci retracement level where price could potential stall before reversing to drop lower.<\/p>\n\n\n\n

1st support: 0.5925<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback support that aligns close to a 38.2% Fibonacci retracement level, suggesting a potential area where price has previously found strong support and could provide a basis to halt further downward movement.<\/p>\n\n\n\n

1st resistance: 0.6007<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance, marking a barrier that has previously capped upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

US30 (DJIA):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price could rise towards the pivot and potentially make a bearish reaction off this level to drop towards the 1st support<\/p>\n\n\n\n

Pivot: 38,563.21<\/p>\n\n\n\n

Supporting reasons: Acts as an overlap resistance that aligns close to a 50% Fibonacci retracement level, suggesting a significant area where selling pressures have increased in recent weeks.<\/p>\n\n\n\n

1st support: 37,696.44<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback support that aligns with a 61.8% Fibonacci retracement level, suggesting a significant area where price has previously found strong buying interest and could provide a solid foundation to halt further downward movement.<\/p>\n\n\n\n

1st resistance: 39,000.73<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance that aligns with a 61.8 Fibonacci retracement level, indicating a potential barrier that could cap any upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

DE40 (DAX):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price could rise towards the pivot and potentially make a bearish reaction to drop towards the 1st support<\/p>\n\n\n\n

Pivot: 18,240.10<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback resistance, suggesting a significant area where selling pressures have increased in recent weeks.<\/p>\n\n\n\n

1st support: 17,804.20<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback support that aligns with a 50% Fibonacci retracement level, suggesting a significant area where price has previously found strong buying interest and could provide a solid foundation to halt further downward movement.<\/p>\n\n\n\n

1st resistance: 18,396.40<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance, potentially functioning as a barrier that could cap any upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

US500 (S&P 500): <\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price could rise towards the pivot and potentially make a bearish reaction to drop towards the 1st support<\/p>\n\n\n\n

Pivot: 5,117.30<\/p>\n\n\n\n

Supporting reasons: Acts as an overlap resistance that aligns with a 78.6% Fibonacci projection level, suggesting a significant area where selling pressures could increase.<\/p>\n\n\n\n

1st support: 4,994.50<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback support, suggesting a significant area where price has previously found strong buying interest and could provide a solid foundation for a rebound.<\/p>\n\n\n\n

1st resistance: 5,167.12<\/p>\n\n\n\n

Supporting reasons: Marked by a pullback resistance that aligns with a confluence of Fibonacci levels i.e. the 61.8% retracement and the 100% projection levels, which could function as a potential barrier and cap any upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

BTC\/USD (Bitcoin):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price could rise towards the pivot and potentially make a bearish reaction to drop towards the 1st support<\/p>\n\n\n\n

Pivot: 64,731.74<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback resistance that aligns with a 50% Fibonacci retracement level, suggesting a significant area where selling pressures could increase.<\/p>\n\n\n\n

1st support: 61,906.13<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback support that aligns close to a 78.6% Fibonacci retracement level, suggesting a significant area where price has previously found support and could provide a strong foundation to halt further downward movements.<\/p>\n\n\n\n

1st resistance: 66,857.22<\/p>\n\n\n\n

Supporting reasons: Marked by a pullback resistance, indicating a significant barrier that could cap further upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

ETH\/USD (Ethereum):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price could rise towards the pivot and potentially make a bearish reaction to drop towards the 1st support<\/p>\n\n\n\n

Pivot: 3,395.42<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback resistance that aligns with a 61.8% Fibonacci retracement level, suggesting a significant area where selling pressures could increase.<\/p>\n\n\n\n

1st support: 3,111.04<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support, suggesting a significant area where price has previously found support and could provide a strong foundation to halt further downward movements.<\/p>\n\n\n\n

1st resistance: 3,583.92<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance that aligns close to a 78.6% Fibonacci retracement level, marking a significant barrier that could cap further upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

<\/h1>\n\n\n\n

WTI\/USD (Oil):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bullish<\/p>\n\n\n\n

Overall momentum of the chart: Neutral<\/p>\n\n\n\n

Price is falling towards the pivot and could potentially make a bullish bounce off this level to rise towards the 1st resistance<\/p>\n\n\n\n

Pivot: 81.87<\/p>\n\n\n\n

Supporting reasons: Acts as a pullback support that aligns with a 38.2% Fibonacci retracement level, suggesting a significant area where price has previously found support to provide a strong foundation for a potential rebound.<\/p>\n\n\n\n

1st support: 80.465<\/p>\n\n\n\n

Supporting reasons: Identified as an overlap support, suggesting a significant area where price has previously found strong buying interest and could provide a solid foundation to halt further downward movements.<\/p>\n\n\n\n

1st resistance: 85.42<\/p>\n\n\n\n

Supporting reasons: Identified as a pullback resistance that aligns with a 61.8% Fibonacci retracement level, marking a significant barrier that could cap further upward movements.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

XAU\/USD (GOLD):<\/strong><\/h1>\n\n\n\n

Potential Direction: Bearish<\/p>\n\n\n\n

Overall momentum of the chart: Bearish<\/p>\n\n\n\n

Price could potentially make a bearish reaction off pivot and drop to 1st support.<\/p>\n\n\n\n

Pivot: 2343.25<\/p>\n\n\n\n

Supporting reasons: An Overlap resistance, coinciding with the 38.20% Fibonacci Retracement level.<\/p>\n\n\n\n

1st support: 2265.49<\/p>\n\n\n\n

Supporting reasons: An Overlap support, indicating a level where buyers might step in to support the price.<\/p>\n\n\n\n

1st resistance: 2407.00<\/p>\n\n\n\n

Supporting reasons: Multi-swing high resistance, suggesting a significant level where selling pressure might intensify.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

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.<\/p>\n\n\n\n

News, views, opinions, recommendations and other information obtained from sources outside of www.icmarkets-vnk.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.<\/p>\n\n\n\n

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\u2019s software, hardware, data or property. <\/p>\n","protected":false},"excerpt":{"rendered":"

Pullback support at the 61.80% Fibonacci Retracement level, indicating a significant level where buyers might step in to support the price, potentially providing a foundation for a bounce or temporary halt in the bearish momentum.<\/p>\n","protected":false},"author":8,"featured_media":60835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[216,195],"tags":[],"class_list":["post-65947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-news-daily","category-technical-analysis"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/65947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/comments?post=65947"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/65947\/revisions"}],"predecessor-version":[{"id":65948,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/65947\/revisions\/65948"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/60835"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=65947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=65947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=65947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}