DXY:
On the H4 timeframe, prices are consolidating in a triangle pattern. We see the potential for a bounce from our 1st support at 98.965 in line with 23.6% Fibonacci retracement towards our 1st resistance at 99.292 in line with 127.2% Fibonacci projection. Prices are trading above our ichimoku cloud support, further supporting our bullish bias.
Areas of consideration:
- H4 time frame, 1st resistance at 99.292
- H4 time frame, 1st support at 98.965
XAU/USD (GOLD):
On the H4, prices are on bearish momentum and approaching a key pivot. We see the potential for a dip from our 1st resistance at 1961.913 which is an area of Fibonacci confluences towards our 1st support at 1944.435 in line with 38.2% Fibonacci Retracement and also graphical overlap. Prices are trading below our ichimoku clouds, further supporting our bearish bias.
Areas of consideration:
- 4h 1st support at 1944.435
- 4h 1st resistance at 1961.913
GBP/USD:
On the H4, prices are on bearish momentum. We see the potential for a dip from our 1st resistance at 1.32217 which is a graphical swing high and in line with 61.8% Fibonacci Projection towards our 1st support at 1.312 in line with 61.8% Fibonacci Projection. MacD and our MA is supporting our bearish bias. Alternatively, breaking the 1st resistance will call for a further bullish continuation towards our 2nd resistance at 1.32983 which was a graphical swing high and in line with 100% Fibonacci Projection.
Areas of consideration:
- H4 1st resistance at 1.32217
- H4 1st support at 1.312
USD/CHF:
On the H4, with price moving below our ichimoku cloud, we have a bias that price will drop from 1st resistance at 0.93398 in line with the horizontal pullback resistance and 38.2% Fibonacci retracement to 1st support at 0.92694 in line with the pullback support and 61.8% Fibonacci retracement .Alternatively, price may break 1st resistance and head for 2nd resistance at 0.93780 in line with the 61.8% Fibonacci retracement.
Areas of consideration
- 1st support level at 0.92694
- 1st resistance level at 0.93398
EUR/USD :
On the H4 timeframe, we see the potential for a bullish bounce from our 1st support at 1.09554 in line with 78.6% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st resistance at 1.10456 in line with 50% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator where price is at support level.
Areas of consideration :
- H4 1st resistance at 1.11360
- H4 1st support at 1.09800
USD/JPY:
On the H4 timeframe, prices are on bullish momentum. We see the potential for further bullish continuation from our 1st support at 121.414 in line with 127.2% Fibonacci extension towards our 1st resistance at 123.237 which is an area of Fibonacci confluences. Prices are trading above our ichimoku clouds, further supporting our bias.
Areas of consideration:
- H4 time frame, 1st resistance at 123.237
- H4 time frame, 1st support at 121.414
AUD/USD:
On the H4 timeframe, we see the potential for a bearish dip from our 1st resistance at 0.75288 in line with 127.2% Fibonacci extension towards our 1st support at 0.73840 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where it is at resistance level.
Areas of consideration
- H4 1st resistance at 0.75288
- H4 1st support at 0.73840
NZD/USD:
On the H4 timeframe, we see the potential for a bearish dip from our 1st resistance at 0.69807 in line with 127.2% Fibonacci extension towards our 1st support at 0.68697 in line with 61.8% Fibonacci projection and 50% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where it is at resistance level.
Areas of consideration :
- H4 1st resistance at 0.69807
- H4 1st support at 0.68697
USD/CAD:
On the H4, with price expected to reverse off the stochastics indicator, we have a bias that price will rise to our 1st resistance at 1.25638 in line with the 23.6% Fibonacci retracement and the horizontal overlap resistance from our 1st support at 1.24545 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support at 1.23919 in line with the 161.8% Fibonacci extension.
Areas of consideration:
- H4 time frame, 1st support at 1.24545
- H4 time frame, 1st resistance at 1.25638
OIL:
On the H4, with price moving above the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 130.46 in line with the 78.6% Fibonacci retracement from our 1st support at 113.66 in line with the horizontal overlap support and 23.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 102.53 in line with the horizontaL overlap support and 78.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 130.46
- H4 time frame, 1st support of 113.66
Dow Jones Industrial Average:
On the H4, with price expected to reverse off the stochastics level, we have a bias that price will drop from 1st resistance at 35011 in line with the horizontal overlap resistance and 161.8% Fibonacci extension to 1st support at 34073 in line with the pullback support .Alternatively, price may break 1st resistance and head for 2nd resistance at 35808 in line with the 161.8% Fibonacci extension.
Areas of consideration :
- H4 1st support at 34073
- H4 1st resistance at 35011
The accuracy, completeness and timeliness of the information contained on this site cannot be guaranteed. IC Markets does not warranty, guarantee or make any representations, or assume any liability regarding financial results based on the use of the information in the site.
News, views, opinions, recommendations and other information obtained from sources outside of www.icmarkets.com.au, used in this site are believed to be reliable, but we cannot guarantee their accuracy or completeness. All such information is subject to change at any time without notice. IC Markets assumes no responsibility for the content of any linked site.
The fact that such links may exist does not indicate approval or endorsement of any material contained on any linked site. IC Markets is not liable for any harm caused by the transmission, through accessing the services or information on this site, of a computer virus, or other computer code or programming device that might be used to access, delete, damage, disable, disrupt or otherwise impede in any manner, the operation of the site or of any user’s software, hardware, data or property.
