ICMarket

Tuesday 4th August 2026: Technical Outlook and Review

 

DXY (U.S. Dollar Index):

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 100.23

Supporting reasons:  Identified as an overlap resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 99.55

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

1st resistance: 100.66
Supporting reasons: Identified as a pullback 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 could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 1.1473

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 1.1436

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

1st resistance: 1.1558

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

EUR/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bearish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 182.04

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 178.78
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could again stabilize.

1st resistance: 183.23

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

EUR/GBP:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

The price could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 0.8555

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 0.8533
Supporting reasons: Identified as a swing low support that indicates a potential area where the price could stabilize once more.

1st resistance: 0.8620
Supporting reasons: Identified as a pullback resistance that aligns with the 78.6% Fibonacci retracement, 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 short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 1.3394

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 1.3337
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.3485
Supporting reasons: Identified as an overlap resistance that aligns with the 78.6% Fibonacci retracement, indicating a potential level that could halt further upward movement.

GBP/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 212.50

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 209.66
Supporting reasons: Identified as a pullback support, indicating a potential level where the price could stabilize once more.

1st resistance: 214.47
Supporting reasons: Identified as 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 see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 0.8144

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 0.8010
Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8203
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 157.91

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 155.60

Supporting reasons: Identified as a swing low support, indicating a strong area where buyers might return, and the price could stabilize once again.

1st resistance: 159.58

Supporting reasons: Identified as a pullback resistance that aligns with the 50% Fibonacci retracement. 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 could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 1.4052

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 1.3962

Supporting reasons: Identified as an overlap support that aligns with the 100% Fibonacci projection, indicating a key level where the price could stabilize once more.

1st resistance: 1.4087

Supporting reasons: Identified as a pullback 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 could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 0.7011

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 0.6983

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: 0.7050

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

NZD/USD

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 0.5825

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 0.5762

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

1st resistance: 0.5908

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

 

US30 (DJIA):

Potential Direction: Bullish

Overall momentum of the chart: Bullish

The price could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 52,846.60

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 52,487.10

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

1st resistance: 53,332.40

Supporting reasons: Identified as a swing high 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 could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 25,836.80

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 25,568.80

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

1st resistance: 26,259.32

Supporting reasons: Identified as a resistance that aligns with the 127.2% Fibonacci extension, 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 could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 7,581.30

Supporting reasons: Identified as a pullback support, where renewed buying pressure could emerge to push the price higher.

1st support: 7,511.10

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

1st resistance: 7,667.47

Supporting reasons: Identified as a resistance that aligns with the 127.2% 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

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 64,712.95

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 62,184.92

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

1st resistance: 66,591.64

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 see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 1,916.42

Supporting reasons:  Identified as a pullback resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 1,823.22

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

1st resistance: 1,980.69
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bearish

Overall momentum of the chart: Bullish

The price could see a short-term pullback toward the pivot before continuing its bearish move down toward the 1st support.

Pivot: 81.29

Supporting reasons:  Identified as an overlap resistance, where selling pressures could intensify and potentially cap any upward retracement

1st support: 76.29
Supporting reasons: Identified as a pullback support, indicating a key level where the price could stabilize once more.

1st resistance: 86.06
Supporting reasons: Identified as a swing high 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 could make a short-term pullback toward the pivot before rising again toward the 1st resistance

Pivot: 4,35.33

Supporting reasons: Identified as an overlap support, where renewed buying pressure could emerge to push the price higher.

1st support: 3,998.41
Supporting reasons: Identified as a low support, indicating a key level where the price could stabilize once more.

1st resistance: 4,117.29
Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

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