Fibonacci Market Forecast

📐 Week Ending May 31, 2025

📈 U.S. Stock Market: S&P 500 & Nasdaq-100 (QQQ)

S&P 500

Key Level: The S&P 500 recently approached the 61.8% Fibonacci retracement level at 5,700.50, derived from its February peak to April low. MarketWatch+1Verified Investing+1
Outlook: The index briefly surpassed this level intraday on May 2 and May 8 but failed to close above it, indicating potential resistance. A sustained move above this level could signal a bullish reversal; otherwise, the downtrend may persist. MarketWatch

Nasdaq-100 (QQQ)

Key Level: The QQQ ETF, tracking the Nasdaq-100, is testing the 61.8% Fibonacci retracement level at $488, marking a significant resistance point. Verified Investing+1Verified Investing+1
Outlook: The ETF faced immediate rejection at this level, forming a bearish candle, suggesting that substantial buying pressure is required to overcome this resistance.Verified Investing+1Verified Investing+1

💱 Forex Market: Key Currency Pairs

GBP/USD

Pivot: 1.3339Hertz+5IC Markets+5CTG Insights+5
Resistance: 1.3442 (aligns with 78.6% Fibonacci retracement)Forex+2IC Markets+2Crypto Basic+2
Support: 1.3207FP Markets+2IC Markets+2IC Trading+2
Outlook: Potential bearish reversal from the pivot, with selling pressures intensifying near the 78.6% retracement level. Crypto Basic+2IC Markets+2IC Trading+2

USD/JPY

Pivot: 145.92IC Trading+9IC Markets+9Forex+9
Resistance: 149.02IC Markets
Support: 143.88IC Markets
Outlook: Potential bullish bounce from the pivot, aiming for the resistance level. IC Markets+1IC Trading+1

USD/CHF

Pivot: 0.8315IC Markets
Resistance: 0.8519 (aligns with 61.8% Fibonacci retracement)CTG Insights+8Verified Investing+8IC Trading+8
Support: 0.8213IC Markets
Outlook: Potential bullish movement towards resistance, with the 61.8% retracement level acting as a significant barrier. IC Trading+2MarketWatch+2Verified Investing+2

🛢️ Commodities: Gold & Crude Oil

Gold (XAU/USD)

Current Price: Approximately $3,363.60/oz
Resistance: $3,375 (critical breakout zone)FXEmpire+1IC Trading+1
Outlook: Gold is building momentum towards the $3,375 level, positioning it for a potential breakout and record weekly closing price. FXEmpire

Crude Oil (WTI)

Current Price: Approximately $61.76/barrel
Outlook: Crude oil prices are influenced by global economic factors and supply-demand dynamics. Traders should monitor key Fibonacci levels for potential support and resistance zones.Forex

₿ Cryptocurrency Market: Bitcoin & Litecoin

Bitcoin (BTC/USD)

Current Price: Approximately $111,679.36
Support: Holding above the 78.6% Fibonacci retracement level, indicating strong bullish momentum. IC Trading+3Crypto Basic+3IC Markets+3
Outlook: Analysts predict a potential surge to $135,000 by July-August 2025, based on Fibonacci extension levels. Mitrade

Litecoin (LTC/USD)

Current Price: Approximately $128.60Forex+3InvestingHaven+3Trendo | Forex+3
Key Level: 50% Fibonacci retracement level at $128.60, essential for confirming bullish trends. InvestingHaven
Outlook: Litecoin’s price action around this level will be crucial in determining its next move.InvestingHaven

Note: Fibonacci retracement and extension levels are tools used in technical analysis to identify potential support and resistance levels. Traders should use these levels in conjunction with other indicators and market analysis to make informed decisions.