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 pullback support is. Once we have downside confirmation, we would expect bearish momentum to carry price to 2nd support at 1784.52 in line with swing low support and 127.2% fibonacci extension. Alternatively, price could rise to our 1st resistance at 1829.18 in line with overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection.
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 1.21570 where the horizontal overlap resistance, 100% fibonacci projection and 50% fibonacci retracement are to our 1st support at 1.19313 where the horizontal swing low support and 78.6% fibonacci projection are. Alternatively, price could rise above 1st resistance structure and head to 2nd resistance at 1.24065 in line with the swing high resistance.
Areas of consideration:
- H4 1st resistance at 1.21570
- 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 0.96375 in line with the horizontal pullback resistance and 23.6% Fibonacci retracement to the 1st support at 0.94968 in line with the horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance where the 38.2% Fibonacci retracement and pullback resistance is.
Areas of consideration
- 1st support level at 0.94968
- 1st resistance level at 0.96375
EUR/USD :
On the H4, with price moving in a descending trendline and below the ichimoku cloud, we have a bearish bias that the price will drop from the 1st resistance at 1.03570 in line with the multiple swing lows and 61.8% Fibonacci projection to the 1st support at 1.02257 in line with the -27.2% fibonacci expansion and 100% Fibonacci projection. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.04828 at the pullback resistance.
Areas of consideration :
- H4 1st resistance at 1.03570
- H4 1st support at 1.02257
USD/JPY:
On the H4, with RSI moving along the descending trendline, we have a bearish bias that price will drop to our 1st support at 131.332 where the overlap support, 100% fibonacci projection and 50% fibonacci retracement are. Once there is downside confirmation, we would expect bearish momentum to carry price to our 2nd support at 126.309 where the swing low support is . Alternatively, price may rise to 1st resistance at 136.706 in line with the swing high resistance and 127.2% fibonacci extension.
Areas of consideration:
- H4 time frame, 1st resistance at 136.706
- H4 time frame, 1st support at 131.332
AUD/USD:
On the H4, with price moving in a bullish divergence on the RSI, we have a bullish bias that price will rise from the 1st support at 0.67678 at the swing low in line with the 61.8% fibonacci projection and 127.2% fibonacci extension to the 1st resistance at 0.70672 at the swing high in line with the 50% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 0.67042 in line with the 78.6% fibonacci projection and 161.8% fibonacci extension.
Areas of consideration
- H4 1st resistance at 0.70672
- H4 1st support at 0.67678
NZD/USD:
On the H4, with price recently bouncing off the confluence area at the 2nd support, we have a bullish bias that price will continue to rise from the 1st support at 0.61978 at the pullback support in line with the 78.6% fibonacci projection and 161.8% fibonacci extension to the 1st resistance at 0.63252 at the swing high in line with the 61.8% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 0.61507 in line with the 61.8% fibonacci projection and -61.8% fibonacci expansion.
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 expected to reverse off the ichimoku cloud , we have a bearish bias that price will continue to drop from the 1st resistance at 1.29529 in line with the horizontal swing high resistance and 50% Fibonacci retracement to the 1st support at 1.28039 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 1.30112 where the 78.6% Fibonacci retracement and horizontal swing high resistance is.
Areas of consideration:
- H4 time frame, 1st resistance at 1.29529
- H4 time frame, 1st support at 1.28039
OIL:
On the H4, with price expected to reverse off the ichimoku cloud , we have a bearish bias that price will continue to drop from the 1st resistance at 109.36 in line with the horizontal swing high resistance and 50% Fibonacci retracement to the 1st support at 104.41 in line with the 78.6% Fibonacci retracement and horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 113.79 where the horizontal swing high resistance is.
Areas of consideration:
- H4 time frame, 1st resistance of 109.36
- H4 time frame, 1st support of 104.41
Dow Jones Industrial Average:
On the H4, with price moving along an ascending channel and expected to break out of the 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. Take note we are waiting for the break of the 1st resistance to confirm the bullish move.
Areas of consideration:
- H4 time frame, 1st resistance of 31866
- H4 time frame, 1st support of 30862
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