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 support at 105.794 where the pullback support, 38.2% fibonacci retracement and 100% fibonacci projection are to 1st resistance at 108.455 in line with 100% fibonacci projection and 100% fibonacci projection. Alternatively, price may break 1st support structure and drop to 2nd 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 108.455
- H4 time frame, 1st support at 105.794
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 1721.41 where the horizontal swing low support, 78.6% fibonacci projection and 161.8% 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 1678.73 in line with swing low support and 100% fibonacci projection. Alternatively, price could rise to our 1st resistance at 1760.80 in line with overlap resistance.
Areas of consideration:
- H4 time frame, 1st Resistance at 1760.80
- H4 time frame, 1st Support at 1721.41
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 from our 1st resistance at 1.19313 where the horizontal pullback resistance and 61.8% fibonacci projection are to our 1st support at 1.18235 where the 161.8% fibonacci extension, -61.8% fibonacci expansion and 61.8% fibonacci projection are. Alternatively, price could rise to 2nd resistance at 1.19762 in line with the pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement.
Areas of consideration:
- H4 1st resistance at 1.19313
- H4 1st support at 1.18235
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 0.97334 where the horizontal swing high resistance is to our 1st resistance at 0.98065 in line with the 127.2% Fibonacci extension and 61.8% Fibonacci retracement. Alternatively, price may not break 1st support and head for 2nd support at 0.96336 where the horizontal pullback support. Take note that we are waiting for the break of our 1st support to confirm bullish bias.
Areas of consideration
- 1st support level at 0.97334
- 1st resistance level at 0.98065
EUR/USD :
On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the 1st resistance at 1.02118 in line with the 161.8% fibonacci extension and 100% fibonacci projection to the 1st support at 1.00140 in line with the 100% fibonacci projection and -61.8% fibonacci expansion. Alternatively, price may reverse off 1st resistance and rise to the 2nd resistance at 1.03587 at the pullback swing low in line with the 61.8% fibonacci projection.
Areas of consideration :
- H4 1st resistance at 1.02118
- H4 1st support at 1.00140
USD/JPY:
On the H4, with price moving along a descending trendline and RSI moving along a descending trendline, we have a bearish bias that price will drop to our 1st support at 134.292 in line with the swing low support, 100% fibonacci projection 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 100% 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, in a descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the 1st resistance at 0.67684 at the multiple swing lows in line with the 78.6% fibonacci projection 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 0.68152 in line with the swing high and 78.6% fibonacci projection and 38.2% fibonacci retracement.
Areas of consideration
- H4 1st resistance at 0.67684
- 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 0.61339 at the pullback swing low in line with the 100% 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 0.61942 in line with the overlap resistance and 50% fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 0.60146
- H4 time frame, 1st resistance at 0.61339
USD/CAD:
On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support at 1.29525 where the horizontal pullback support and 100% Fibonacci projection and 50% Fibonacci retracement are from our 1st resistance at 1.30780 in line with the horizontal swing high resistance. Alternatively, price may break 1st resistance and head for 2nd resistance at 1.31499 where the 127.2% fibonacci extension is.
Areas of consideration:
- H4 time frame, 1st resistance at 1.30780
- H4 time frame, 1st support at 1.29525
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 94.96 where the horizontal swing low support is from our 1st resistance at 101.18 in line with the horizontal swing high resistance and 38.2% Fibonacci retracement. Alternatively, price may break 1st resistance and head for 2nd resistance at 102.89 where the horizontal pullback resistance and 50% Fibonacci retracement is.
Areas of consideration:
- H4 time frame, 1st resistance of 101.18
- H4 time frame, 1st support of 94.96
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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