empty
10.03.2025 12:43 AM
SPX – Weekly Results and Prospects

This image is no longer relevant

February's uncertainty has transitioned into a bearish correction in early March. Sellers are currently trying to break through the weekly golden cross at 5689.3 and test the monthly short-term trend at 5618.3. A solid consolidation below the nearest support zone (ranging from 5689.3 to 5618.3) could create new opportunities for bearish traders.

This image is no longer relevant

Alongside testing the supports of the weekly cross, the daily timeframe has also reached its target for breaking through the Ichimoku cloud at 5748.8. The current slowdown may lead to a retest of previously broken weekly levels, potentially triggering a daily corrective rally. The nearest reference point for this rally is the daily short-term trend at 5837.2.

This image is no longer relevant

On lower timeframes, a consistent decline has formed a downward trend over the past few days. During corrective rallies, buyers have primarily been limited to testing the daily central pivot level, with the latest test occurring around 5770.7. A correction extending toward the weekly long-term trend at 5828.5 could raise concerns about a shift in the current balance of power, as holding this trend is crucial for maintaining an advantage. Additional intraday reference points include the classic pivot levels, which are updated daily, with new data emerging at the market open.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)
Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD and GBP/USD – Technical Analysis for April 9

The bulls are attempting to regain control, and we are currently observing increased activity and a push toward the peak of the ongoing correction at 1.1147. A breakout above this

Evangelos Poulakis 10:07 2025-04-09 UTC+2

Technical Analysis of Intraday Price Movement Natural Gas Commodity Instrument, Wednesday, April 09, 2025.

On the 4-hour chart of the Natural Gas commodity instrument, a Bearish 123 pattern appears followed by a Bearish Ross Hook (RH) followed by a Natural Gas price movement below

Arief Makmur 07:11 2025-04-09 UTC+2

Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pair, Wednesday, April 09, 2025.

Although on the 4-hour chart the USD/CAD commodity currency pair is moving in a Bearish channel, but with the formation of a Bullish 123 pattern and being above

Arief Makmur 07:11 2025-04-09 UTC+2

EUR/USD Forecast for April 9, 2025

By the end of Tuesday, the euro gained 45 pips, and during today's Pacific session, it has added roughly the same amount, approaching the target level of 1.1027. If resistance

Laurie Bailey 04:31 2025-04-09 UTC+2

GBP/USD Forecast for April 9, 2025

On Tuesday, the British pound tested the lower boundary of the target range at 1.2816/47 with an upper shadow. This morning, the price managed to move inside this range

Laurie Bailey 04:31 2025-04-09 UTC+2

AUD/USD Forecast for April 9, 2025

The Australian dollar's attempts to rise on Monday and Tuesday towards the target level of 0.6133 were halted (as indicated by long upper shadows), but the pair is still pursuing

Laurie Bailey 04:31 2025-04-09 UTC+2

Trading Signals for GOLD (XAU/USD) for April 8-10, 2025: buy above $2,993 (200 EMA - rebound)

Our trading plan for the coming hours is to sell gold below 3,020, as technically there is a bearish trend channel. If gold fails to break above this level

Dimitrios Zappas 14:56 2025-04-08 UTC+2

Trading Signals for EUR/USD for April 8-10, 2025: sell below 1.0986 (200 EMA - 6/8 Murray)

If the euro breaks the downtrend channel, we could expect a new upward movement that could push EUR/USD up to 1.1051, last week's high, the 7/8 Murray at 1.1115

Dimitrios Zappas 14:54 2025-04-08 UTC+2

Forecast for EUR/USD on April 8, 2025

On Monday, the EUR/USD pair made two rebounds from the 76.4% retracement level, turned in favor of the euro, and consolidated above the 1.0944–1.0957 zone. As a result, the upward

Samir Klishi 10:57 2025-04-08 UTC+2

Forecast for GBP/USD on April 8, 2025

On the hourly chart, the GBP/USD pair continued its decline on Monday and ended the day near the 1.2709 level. Over just two trading days, the pound dropped by roughly

Samir Klishi 10:53 2025-04-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.