DXY:
On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices to 1st resistance at 105.794 where the swing high resistance and 161.8% fibonacci extension are. Once we have upside confirmation, we would expect bullish momentum to carry prices to 2nd resistance at 107.265 in line with 161.8% fibonacci extension, 78.6% fibonacci projection and 78.6% fibonacci projection. Alternatively, price may drop to 1st support at 103.401 where the horizontal swing low support and 50% fibonacci retracement are.
Areas of consideration:
- H4 time frame, 1st resistance at 105.794
- H4 time frame, 1st support at 103.401
XAU/USD (GOLD):
On the H4, with prices moving below the ichimoku indicator and along a descending trendline, we have a bearish bias that prices will drop to our 1st support at 1805.14 where the horizontal swing low support and 78.6% fibonacci retracement are. Once we have downside confirmation, we would expect bearish momentum to carry price to 2nd support at 1786.95 in line with swing low support, 61.8% fibonacci projection and 100% fibonacci projection. Alternatively, price could rise to our 1st resistance at 1829.18 in line with overlap resistance and 38.2% fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st Resistance at 1829.18
- H4 time frame, 1st Support at 1805.14
GBP/USD:
On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will rise and drop from our 1st resistance at 1.21657 where the horizontal overlap resistance is to our 1st support at 1.19313 where the horizontal swing low support and 61.8% fibonacci projection are. Alternatively, price could break 1st resistance structure and rise to 2nd resistance at 1.24327 in line with the 61.8% fibonacci projection, 78.6% fibonacci retracement and pullback resistance.
Areas of consideration:
- H4 1st resistance at 1.21657
- H4 1st support at 1.19313
USD/CHF:
On the H4, with price moving below the ichimoku cloud , we have a bearish bias that price will continue to drop from the 1st resistance at 0.95461 in line with the horizontal pullback resistance to the 1st support at 0.94182 in line with the 127.2% Fibonacci extension. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance where the 23.6% Fibonacci retracement and pullback resistance is.
Areas of consideration
- 1st support level at 0.94182
- 1st resistance level at 0.95461
EUR/USD :
On H4, with price recently breaking the ascending trendline, we have a bearish bias that price will continue to drop from the 1st resistance at 1.06047 at the pullback resistance in line with the 61.8% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 1.03541 in line with the multiple horizontal swing lows. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.07814 at the horizontal swing high in line with the 50% fibonacci retracement and 100% Fibonacci projection.
Areas of consideration :
- H4 1st resistance at 1.06047
- H4 1st support at 1.03541
USD/JPY:
On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise to our 1st resistance at 136.765 where the swing high resistance is. Once there is upside confirmation, we would expect bullish momentum to carry price to our 2nd resistance at 140.818 where the 100% fibonacci 61.8% fibonacci projection is . Alternatively, price may drop to 1st support at 134.225 in line with the swing low support, 50% fibonacci retracement and 23.6% fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 136.765
- H4 time frame, 1st support at 134.225
AUD/USD:
On the H4, with price moving below the ichimoku cloud , we have a bearish bias that price will continue to drop from the 1st resistance at 0.69303 in line with the 50% fibonacci retracement to the 1st support at 0.68296 in line with the horizontal swing low and 61.8% Fibonacci projection .Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.70484 in line with the overlap resistance, 78.6% Fibonacci projection and 50% Fibonacci retracement .
Areas of consideration
- H4 1st resistance at 0.68296
- H4 1st support at 0.69303
NZD/USD:
On the H4, with price bouncing off the confluence area at the 1st support, we have a bullish bias that price will rise from the 1st support at 0.61978 at the multiple swing lows in line with the 161.8% fibonacci extension and 78.6% fibonacci projection to the 1st resistance at 0.63252 in line with the swing high and 61.8% fibonacci retracement. Alternatively, price may break the support structure at 1st support and drop to the 2nd support at 0.61616 in line with the -61.8% fibonacci expansion and 61.8% fibonacci projection.
Areas of consideration:
- H4 time frame, 1st support at 0.61978
- H4 time frame, 1st resistance at 0.63252
USD/CAD:
On the H4, with price recent break of the ichimoku cloud , we have a bearish bias that price will continue to drop from the 1st resistance at 1.29124 in line with the horizontal pullback resistance and 38.2% Fibonacci retracement to the 1st support at 1.28224 in line with the 50% Fibonacci retracement and horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.30077 where the 78.6% Fibonacci retracement and horizontal swing high resistance is.
Areas of consideration:
- H4 time frame, 1st resistance at 1.29124
- H4 time frame, 1st support at 1.28224
OIL:
On the H4, with price expected to bounce off ichimoku cloud, we have a bullish bias that price will continue to rise from the 1st support at 106.58 in line with the pullback support and 61.8% Fibonacci retracement to the 1st resistance at 114.14 at the horizontal pullback resistance. Alternatively, price may reverse off the 1st support and drop to the 2nd support at horizontal swing low support and 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 114.14
- H4 time frame, 1st support of 106.58
Dow Jones Industrial Average:
On the H4, with price moving along an ascending trendline and ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 30862 where the horizontal pullback support and 38.2% Fibonacci retracement are to our 1st resistance at 31866 in line with the horizontal swing high resistance and 61.8% fibonacci retracement. Alternatively, price may break 1st support and head for 2nd support at 30149 where the horizontal swing low support and 78.6% fibonacci retracement are.
Areas of consideration:
- H4 time frame, 1st resistance of 31866
- H4 time frame, 1st support of 30862
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