Wednesday 20th October : Technical Outlook and Review
DXY: On the H4 timeframe, prices have broken out of our […]
Tuesday 19th October : Technical Outlook and Review
DXY: On the H4 timeframe, prices appear to be consolidating sideways. […]
Monday 18th October : Technical Outlook and Review
On the H4, with the stochastic indicator and the ascending channel showing that price is at a resistance, it strengthens our bias that there may be a short term bearish move where price will head down from current price.
Friday 15th October : Technical Outlook and Review
DXY: On the weekly, prices have been consolidating in a parallel […]
Thursday 14th October : Technical Outlook and Review
On the H4, with a bullish bias, we may expect to see price head to 1st resistance at 34685 in line with the 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Otherwise if price breaks structure at 1st support at 34308 in line with the 61.8% Fibonacci retracement and 100% Fibonacci projection, we may see further bearish movements to 2nd support at 33918 in line with the 161.8% Fibonacci projection.
Wednesday 13th October : Technical Outlook and Review
DXY: On the H4 timeframe, DXY is on a bullish […]
Tuesday 12th October : Technical Outlook and Review
Otherwise if price breaks structure at 1st support at 34308 in line with the 61.8% Fibonacci retracement, we may see further bearish movements to 2nd support at 33918 in line with the 161.8% Fibonacci projection. Our bullish bias is supported by the ichimoku where price is moving above it along with the existing ascending trend line.
Monday 11th October : Technical Outlook and Review
On the H4, with a bullish bias, we may expect to see price head to 35033 in line with the 127.2% Fibonacci projection. Possibly even breaking structure at 1st resistance and heading for 2nd resistance at 35508 in line with another 127.2% Fibonacci retracement.
Thursday 7th October 2021: Technical Outlook and Review
On the H4, we may expect to see a short term bullish move to 1st resistance at 34688 in line with the 78.6% Fibonacci retracement with recent price closing above the exponential moving average. If price breaks 1st resistance, we may see further bullish moves to second resistance at 35033 in line with the 100% Fibonacci projection as a potential upside target. Otherwise, breaking 1st support at 34438 in line with the 61.8% Fibonacci retracement, will see price fall towards 2nd support at 34113.
