DXY:
On the H4 timeframe, prices are consolidating in a triangle pattern and are on bullish momentum. We would expect potentially further bullish continuation from our 1st support at 95.426 in line with 38.2% Fibonacci retracement towards our 1st resistance at 95.843 in line with 61.8% Fibonacci retracement. RSI is showing bullish momentum and prices are trading above our Ichimoku clouds, further supporting our bullish bias.
Areas of consideration:
H4 time frame, 1st resistance at 95.843
H4 time frame, 1st support at 95.426
XAU/USD (GOLD):
On the H4 chart, prices are on bullish momentum and abiding to our ascending trendline. We would watch for our intermediate level for confirmation in price action. If prices dips below our intermediate level, we would expect it to dip towards our 1st support at 1820.300 in line with 61.8% Fibonacci extension. Alternatively, prices may travel higher towards our 1st resistance at 1847.563 in line with 78.6% Fibonacci retracement. Our bullish bias is further supported by our MA 50 & 200 crosses as well as prices trading above our ichimoku cloud support.
Areas of consideration:
4h 1st support at 1820.300
4h intermediate resistance at 1829.925
GBP/USD
On the H4 chart price has recently broken out of the ascending trendline and near 1st resistance level of 1.35746 which is also 23.6% Fibonacci retracement. Price can potentially dip to the 1st support level of 1.34640 which is also 100% Fibonacci projection and 50% Fibonacci retracement. Our bearish bias is supported by the ichimoku cloud indicator as price is trading below it.
Areas of consideration:
- H4 1st resistance at 1.35746
- H4 1st support at 1.34640
USD/CHF:
In reference to last week’s analysis, price indeed dropped from 1st Resistance and approaching 1st Support @ 0.90961. On the H4 timeframe, price is abiding to a descending channel, signifying a bearish momentum. However, we can expect price to make a short-term bullish bounce from 1st Support in line with previous swing low towards 1st Resistance in line with 100% Fibonacci projection and 50% Fibonacci retracement. Our short-term bullish bias is further supported by stochastic indicator where the %K line is approaching the support level.
Areas of consideration:
- Watch 1st Support at 0.90961
- Watch 1st Resistance at 0.91809
EUR/USD :
On the H4 chart , price is abiding by the ascending trendline and is in the middle of the 1st resistance of 1.13859 which is also 38.2% Fibonacci retracement, 61.8% Fibonacci projection and 1st support level of 1.12915 which is also 161.8% Fibonacci projection. Price can potentially go to the 1st resistance level. Our bullish bias is supported by the stochastic indicator as it is near support level.
Areas of consideration
- 1st resistance at 1.13859
- 1st support at 1.12915
USD/JPY:
On the H4 timeframe, is abiding to the ascending channel on the daily, signifying an overall bullish momentum. We can now expect the price to bounce from 1st Support in line with 23.6% Fibonacci retracement towards 1st Resistance in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is further supported by the stochastic indicator where the %K line is at the support level.
Areas of consideration:
- H4 1st resistance level 115.508
- H4 1st support level 113.982
AUD/USD:
On the H4, price is reacting within the ascending channel, signifying an overall bullish momentum. Price is approaching the 1st Support, we can expect to see price make a bullish bounce from 1st Support in line with 127.2% Fibonacci projection, 78.6% Fibonacci retracement and ascending channel support towards 1st Resistance in line with previous swing high and 61.8% Fibonacci projection. Our short-term bearish bias is further supported by the RSI indicator where it is approaching the support level.
Areas of consideration:
- H4 1st Support level 0.71724
- H4 1st resistance level 0.73091
NZD/USD:
On the H4, prices are on bearish momentum and abiding to a bearish trendline. We see the potential for a bounce from our 1st support at 0.67012 in line with 161.8% Fibonacci projection towards our 1st resistance at 0.67745 in line with 78.6% Fibonacci retracement. RSI is at a level where bounces occurred previously. Alternatively, our stop loss will be placed at our 2nd support at 0.66464 in line with 200% Fibonacci Projection.
Areas of consideration:
- H4 time frame, 1st resistance at 0.67745
- H4 time frame, 1st support at 0.67012
USD/CAD:
On the H4, with price approaching the resistance of the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 1.26185 which is in line with horizontal overlap resistance and 61,8% Fibonacci retracement to 1st support at 1.24604, which is in line with horizontal overlap support and 100% Fibonacci projection level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.26930, which coincides with horizontal overlap resistance and 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 1.24604
- H4 time frame, 1st resistance at 1.26185
OIL:
On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 90.84 which is in line with horizontal swing high resistance and 127.2% Fibonacci extension level from 1st support at 85.53, which is in line with horizontal overlap support and 32.8% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 79.75, which coincides with horizontal overlap support and 78.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 90.84
- H4 time frame, 1st support of 85.53
Dow Jones Industrial Average:
On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will from from our 1st resistance at 34806 which is in line with horizontal overlap resistance and 23.6% Fibonacci retracement to 1st support at 34036, which is in line with horizontal overlap support and 127.2% Fibonacci extension level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 35372, which coincides with horizontal swing high resistance and 50% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 34806
- H4 time frame, 1st support of 34036
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