empty
02.03.2025 10:47 PM
SPX – Weekly Results and Outlook

This image is no longer relevant

The past session marked not only the end of the trading week but also the month. February set a new high at 6,147.20 but failed to achieve more significant bullish gains. The final February candle signals uncertainty, creating conditions for a continued monthly downward correction. The nearest target on the monthly timeframe is the short-term trend, currently at 5,618.25. On the way to this level, the bears must test the support levels of the weekly Ichimoku golden cross at 5,774.49 – 5,686.52. A breakdown of the monthly short-term trend at 5,618.25 would invalidate the weekly golden cross, opening new downside opportunities for the bears.

If the bulls manage to hold their ground, an update to the current high at 6,147.20 would shift the focus toward psychological resistance levels at 6,250 – 6,300 – 6,350 – 6,400.

This image is no longer relevant

On the daily timeframe, the market is currently working on invalidating the daily cross and breaking the Ichimoku cloud at 5,948.02. If the bears continue the decline in the coming days and break weekly support at 5,862.50, the market will likely aim to fulfill the daily breakout target at 5,748.84 and test the weekly medium-term trend at 5,777.11. Alternatively, for the bulls to regain control, they need to re-enter the bullish zone relative to the daily cloud, retest the recently broken daily Ichimoku cross at 5,991.84 – 6,037.49, and consolidate above these resistance levels.

This image is no longer relevant

On lower timeframes, the market has closely approached the weekly long-term trend at 5,965.29. The coming trading week may start with a test of this level, which could determine the market's direction. This is the most critical level on lower timeframes, as holding above it favors bullish momentum, with intraday upside targets aligned with classic pivot resistance levels. Conversely, a rejection and move below this level could trigger bearish sentiment, with classic pivot support levels acting as downside targets. These pivot values are updated daily when trading opens.

***

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

Trading Signals for GOLD (XAU/USD) for June 9-12, 2025: sell below $3,350 (21 SMA - 7/8 Murray)

Early in the American session, gold is trading around 3,317, rebounding after reaching a low of 3,294 during the European session. On the H4 chart, gold could continue to rise

Dimitrios Zappas 15:23 2025-06-09 UTC+2

Trading Signals for EUR/USD for June 9-12, 2025: sell below 1.1415 (21 SMA - 6/8 Murray)

We believe the euro could continue to fall as a bearish continuation pattern is forming, but we should expect it to fall below 1.1400, which could then reach the bottom

Dimitrios Zappas 15:20 2025-06-09 UTC+2

EUR/USD. Analysis and Forecast

Today, the EUR/USD pair is attracting buyers, recovering part of Friday's losses amid a weaker U.S. dollar. From a technical perspective, the EUR/USD pair is currently showing resilience below

Irina Yanina 13:57 2025-06-09 UTC+2

Forecast for EUR/USD on June 9, 2025

On Friday, the EUR/USD pair declined to the support zone of 1.1374–1.1380, rebounded, and turned in favor of the euro. On Monday, a new upward movement began toward the 76.4%

Samir Klishi 13:53 2025-06-09 UTC+2

Forecast for GBP/USD on June 9, 2025

On the hourly chart, the GBP/USD pair continued its decline on Friday and reached the 161.8% Fibonacci correction level at 1.3520. A rebound from this level favored the British pound

Samir Klishi 13:45 2025-06-09 UTC+2

Forex forecast 09/06/2025: EUR/USD, GBP/USD, USD/JPY, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:06 2025-06-09 UTC+2

EUR/USD Forecast for June 9, 2025

Moderately optimistic US employment data revived the dollar, causing it to rise by 0.44%. The euro dropped by 50 pips. A divergence with the stock market occurred as the S&P

Laurie Bailey 05:15 2025-06-09 UTC+2

GBP/USD Forecast for June 9, 2025

On Friday, as the US dollar index strengthened by 0.44%, the British pound dropped by 42 pips. However, the Marlin oscillator remains stable, supported from below by the zero line

Laurie Bailey 05:07 2025-06-09 UTC+2

USD/JPY Forecast for June 9, 2025

In the previous yen analysis, we mentioned that the 145.08 level serves as an intermediate barrier to the main target of 146.11. However, by this morning, the situation

Laurie Bailey 05:07 2025-06-09 UTC+2

USD/CAD. Analysis and Forecast

The pair is attempting to attract buyers, but spot prices remain close to a yearly low and appear vulnerable to further decline. The Canadian dollar is supported by reports

Irina Yanina 15:33 2025-06-06 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.