DXY:
On the H1 timeframe, prices have broken out of our ascending trendline and done a retest. We see the potential for a dip from our 1st resistance at 98.417 in line with 23.8% Fibonacci retracement towards our 1st support at 97.748 in line with 100% Fibonacci projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.
Areas of consideration:
- H4 time frame, 1st resistance at 98.417
- H4 time frame, 1st support at 97.748
XAU/USD (GOLD):
On the H4, prices are on bearish momentum and abiding by our descending trendline resistance. We see the potential for further bearish continuation from our 1st resistance at 1941.226 which is in line with 78.6% Fibonacci projection towards our 1st support at 1915.715 in line with 23.6% Fibonacci retracement and also graphical swing low.. Prices are trading below our ichimoku clouds, further supporting our bearish bias.
Areas of consideration:
- 4h 1st support at 1915.715
- 4h 1st resistance at 1941.226
GBP/USD:
On the H4, prices are on bullish momentum. We see the potential for a bounce from our 1st support at 1.30498 which is a graphical swing low and in line with 61.8 Fibonacci retracement towards our 1st resistance at 1.32249 which is an area of Fibonacci confluences. RSI is at levels where bounces previously occured, further supporting our bullish bias. Alternatively, breaking the 1st support at 1.30498 in line with 61.8% Fibonacci retracement will call for further bearish continuation towards our 2nd support at 1.29941 in line with 78.6% Fibonacci retracement.
Areas of consideration:
- H4 1st resistance at 1.32232
- H4 1st support at 1.30890
USD/CHF:
On the H4, with price moving below our ichimoku cloud, we have a bias that price will drop from 1st resistance at 0.93743 in line with the horizontal swing high resistance and 61.8% Fibonacci retracement to 1st support at 0.92668 in line with the horizontal swing low support and 100% Fibonacci projection. Alternatively, price may break 1st resistance and head for 2nd resistance at 0.94229 in line with the horizontal swing high resistance. Do take note of intermediary support at 0.92954.
Areas of consideration
- 1st support level at 0.92668
- 1st resistance level at 0.93743
EUR/USD :
On the H4 timeframe, we see the potential for a bearish reversal from our 1st resistance at 1.11374 in line with 61.8% Fibonacci projection and 50% Fibonacci retracement towards our 1st support at 1.10377 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is at resistance level.
Areas of consideration :
- H4 1st resistance at 1.11374
- H4 1st support at 1.10377
USD/JPY:
On the H4 timeframe, prices are on bearish momentum and abiding to a descending trendline. We see the potential for further bearish continuation from our 1st resistance at 122.381 in line with 61.8% Fibonacci retracement towards our 1st support at 121.167 which is in line with 38.2% Fibonacci Retracement. RSI is at levels where dips previously occurred.
Areas of consideration:
- H4 time frame, 1st resistance at 122.399
- H4 time frame, 1st support at 121.607
AUD/USD:
On the H4 timeframe, we see the potential for a bearish reversal from our 1st resistance at 0.75604 in line with 138.2% Fibonacci extension and -27.2% Fibonacci expansion, along with a graphical overlap resistance towards our 1st support at 0.74462 in line with 23.6% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where price is at resistance level
Areas of consideration
- H4 1st resistance at 0.75604
- H4 1st support at 0.74462
NZD/USD:
On the H4 timeframe, we see the potential for a bearish reversal from our 1st resistance at 0.69897 in line with 138.2% Fibonacci extension towards our 1st support at 0.69145 in line with 23.6% Fibonacci retracement. Our bearish bias is supported by the stochastic where it is trading at resistance level.
Areas of consideration :
- H4 1st resistance at 0.69897
- H4 1st support at 0.69145
USD/CAD:
On the H4, price moving below our ichimoku cloud. At this current juncture, we have a bias that price will drop from 1st resistance at 1.25638 in line with the horizontal overlap resistance and 23.6% Fibonacci retracement to 1st support at 1.24617 in line with the swing low support . Alternatively, price may break 1st resistance and head for 2nd resistance at 1.26234 in line with the 38.2% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 1.24617
- H4 time frame, 1st resistance at 1.25638
OIL:
On the H4, with price expected to bounce off the support of the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 113.70 in line with the 38.2% Fibonacci retracement from our 1st support at 108.49 in line with the horizontal overlap support and 61.8% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 102.64 in line with the horizontal overlap support and 78.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 113.70
- H4 time frame, 1st support of 108.49
Dow Jones Industrial Average:
On the H4, with price moving above the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 35823 in line with the 127.2% Fibonacci extension from our 1st support at 35012 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support at 34350 in line with the horizontal overlap support and 38.2% Fibonacci retracement.
Areas of consideration :
- H4 1st support at 35012
- H4 1st resistance at 35823
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