DXY:
On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that prices will drop and rise from 1st resistance at 105.794 where the pullback resistance, 38.2% fibonacci retracement and 78.6% fibonacci projection are to 2nd resistance at 108.455 in line with 100% fibonacci projection and 100% fibonacci projection. Alternatively, price may break 1st resistance structure and drop to 1st support at 103.401 where the horizontal swing low support, -27.2% fibonacci expansion 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 1760.80 where the horizontal swing low support and 127.2% fibonacci extension are. Once we have downside confirmation of price breaking 1st support structure, we would expect bearish momentum to carry price to 2nd support at 1721.41 in line with swing low support, 78.6% fibonacci projection and 161.8% fibonacci extension. Alternatively, price could rise to our 1st resistance at 1781.88 in line with overlap resistance and 23.6% fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st Resistance at 1781.88
- H4 time frame, 1st Support at 1760.80
GBP/USD:
On the H4, with prices moving below the ichimoku indicator and within the descending channel, we have a bearish bias that price will drop to our 1st support at 1.19313 where the horizontal pullback support and -27.2% fibonacci expansion are. Once we have downside confirmation that price has broken 1st support structure, we would expect bearish momentum to carry price to our 2nd support at 1.18163 where the 161.8% fibonacci extension, -61.8% fibonacci expansion and 100% fibonacci projection are. Alternatively, price could rise to intermediate resistance at 1.19762 in line with the pullback resistance and 38.2% fibonacci retracement. Should price break intermediate resistance structure, we would have a bullish bias that price will rise to 1st resistance at 1.21637 where the 50% fibonacci retracement and swing high resistance are.
Areas of consideration:
- H4 1st resistance at 1.21637
- H4 1st support at 1.19313
USD/CHF:
On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 0.96375 where the horizontal pullback support is to our 1st resistance at 0.97334 in line with the horizontal swing high resistance and 38.2% Fibonacci retracement. Alternatively, price may break 1st support and head for 2nd support at 0.95817 where the horizontal pullback support.
Areas of consideration
- 1st support level at 0.96375
- 1st resistance level at 0.97334
EUR/USD :
On the H4, with price moving in a descending trendline and below the ichimoku cloud, we have a bearish bias that price will continue to drop from the 1st resistance at 1.03615 at the pullback resistance in line with the 61.8% fibonacci projection to the 1st support at 1.01838 in line with the 161.8% fibonacci extension and 100% fibonacci projection. Alternatively, price may reverse and break the resistance to rise to the 2nd resistance at 1.05951 at the pullback swing high in line with the 61.8% fibonacci retracement and 61.8% fibonacci projection.
Areas of consideration :
- H4 1st resistance at 1.03615
- H4 1st support at 1.01838
USD/JPY:
On the H4, with price breaking out from an ascending channel and moving below the ichimoku indicator, we have a bearish bias that price will drop to our 1st support at 134.292 in line with the swing low support and 23.6% fibonacci retracement. Once there is downside confirmation that price has broken past the 1st support, we would expect bearish momentum to carry price to our 2nd support at 131.255 where the 50% fibonacci retracement and overlap support are. Alternatively, price may rise to 1st resistance at 136.706 in line with the swing high resistance, 127.2% fibonacci extension and 78.6% fibonacci projection.
Areas of consideration:
- H4 time frame, 1st resistance at 136.706
- H4 time frame, 1st support at 134.292
AUD/USD:
On the H4, with price moving below the ichimoku cloud, ina descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the 1st resistance at 0.67647 at the swing low in line with the 100% and 61.8% fibonacci projections to the 1st support at 0.66648 in line with the -61.8% fibonacci extension and 100% fibonacci projection. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.68884 in line with the swing high and 78.6% fibonacci retracement.
Areas of consideration
- H4 1st resistance at 0.67647
- H4 1st support at 0.66648
NZD/USD:
On the H4, with price moving below the ichimoku cloud, in a descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the 1st resistance at 0.61243 at the swing low in line with the 78.6% fibonacci projection to the 1st support at 0.60146 in line with the 161.8% fibonacci extension and 100% fibonacci projection. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.62470 in line with the swing high and 61.8% fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 0.60146
- H4 time frame, 1st resistance at 0.61243
USD/CAD:
On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 1.30064 where the horizontal pullback support is to our 1st resistance at 1.30799 in line with the horizontal swing high resistance. Alternatively, price may break 1st support and head for 2nd support at 1.29529 where the horizontal pullback support and 50% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 1.30799
- H4 time frame, 1st support at 1.30064
OIL:
On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 97.63 where the horizontal swing low support and 127.2% Fibonacci extension are from our 1st resistance at 114.09 in line with the horizontal pullback resistance and 38.2% Fibonacci retracement. Alternatively, price may break 1st resistance and head for 2nd resistance at 104.61 where the horizontal pullback resistance and 50% Fibonacci retracement is.
Areas of consideration:
- H4 time frame, 1st resistance of 114.09
- H4 time frame, 1st support of 97.63
Dow Jones Industrial Average:
On the H4, with price expected to reverse off the ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 30422 where the horizontal swing low support and 61.8% Fibonacci retracement are from our 1st resistance at 31216 in line with the horizontal swing high resistance and 50% Fibonacci retracement. Alternatively, price may break 1st resistance and head for 2nd resistance at 31866 where the horizontal swing high resistance and 61.8% Fibonacci retracement is.
Areas of consideration:
- H4 time frame, 1st resistance of 31216
- H4 time frame, 1st support of 30422
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