DXY:
On the H4 timeframe, prices have broken out of our bearish trendline and are on bearish momentum. We see the potential for a dip from our 1st resistance at 96.199 in line with 23.6% and 50% Fibonacci retracement. MacD and our EMA 12 are showing bearish momentum. Alternatively, prices might retest our 2nd resistance at 96.602 in line with 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 96.602
- H4 time frame, 1st support at 95.808
XAU/USD (GOLD):
On the H4 chart, prices are abiding to the ascending trendline of our daily triangle. We see potential for further upside towards our 1st resistance at 1808.85 which is a graphical overlap and also in line with 23.6% Fibonacci retracement. Technical indicators are showing bullish momentum. Alternatively, breaking our 1st support might find prices dipping further towards our 2nd support at 1761.37 in line with 200%, 161.8% Fibonacci extension and 100% Fibonacci retracement.
Areas of consideration:
- 4h 1st support at 1785.17
- 4h 1st resistance at 1808.85
GBP/USD
On the H4 chart price is near the first resistance level of 1.33444 which is also 100% Fibonacci projection and 61.8% Fibonacci retracement. Price can potentially experience a short bounce to the 2nd resistance level of 1.36881 which is also 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by the RSI as it shows a divergence
Areas of consideration :
H4 first support – 1.31487
H4 first resistance – 1.33444
USD/CHF
On the H4 timeframe, price broke out of the ascending trendline support, signifying an overall bearish momentum. We can expect that price would drop from the 1st Resistance in line with 23.6% Fibonacci retracement towards 1st Support in line with 61.8% Fibonacci projection. Our bearish bias is further supported by the MACD indicator where the signal crosses over the MACD line.
Areas of consideration:
- Watch 1st Support at 0.91906
- Watch 1st Resistance at 0.92465
EUR/USD :
On the H4 chart , price has recently broken out of the descending trendline and is near the first support level of 1.12814 which is also 23.6% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially dip to the 2nd support level of 1.11900 which is also 78.6% Fibonacci projection and the graphical swing low. Our bearish bias is supported by the ichimoku cloud indicator as price is trading under it and stochastic indicator as it is near resistance level.
Areas of consideration :
1st support – 1.12814
2nd support – 1.11900
1st resistance – 1.13748
USD/JPY
On the H4 timeframe, price broke out of the ascending trendline support, signifying a bearish momentum. We can now expect price to drop from 1st Resistance in line with 23.6% Fibonacci retracement towards 1st Support in line with 127.2% FIbonacci projection and 38.2% Fibonacci retracement. Our bearish bias is further supported by the MACD indicator where the signal line crossed over the MACD line.
Areas of consideration:
- H4 1st resistance level 113.628
- H4 1st support level 113.052
AUD/USD:
On the H4, price is reaching the graphical overlap support on the daily. We can expect the price to make a small bounce from 1st Support towards 1st Resistance in line with 38.2% Fibonacci retracement. Our short-term 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 0.71779
- H4 1st support level 0.71030
NZD/USD:
On the H4 timeframe, prices are on a bearish momentum. We see a potential for a bounce from our 1st support at 0.68090 towards our 1st resistance at 0.68601 in line with 23.6% and 23.6% Fibonacci retracement. If prices break our 1st support, prices can potentially dip further towards our 2nd support at 0.67890 which is in line with 127.2% Fibonacci extension and also a daily support.
Areas of consideration:
- H4 time frame, 1st resistance at 0.68601
- H4 time frame, 1st support at 0.68090
USD/CAD:
On the H4, with price approaching the resistance on the stochastics indicator, we have a bearish bias that price will drop to 1st support at 1.26479 in line with the graphical overlap support and 50% Fibonacci retracement and possibly to 2nd support at 1.25505 in line with the graphical swing low support and 78.6% Fibonacci retracement from 1st resistance at 1.27914 in line with the horizontal swing high resistance and 127.2% Fibonacci extension level. Alternatively, we may see price break 1st resistance structure and head for 2nd resistance at 1.28919 in line with the horizontal swing high resistance and 100% Fibonacci projection.
Areas of consideration:
- H4 time frame, support at 26479
- H4 time frame, resistance at 1.27914
OIL:
On the H4 timeframe, with price rejecting the support on the stochastics indicator and the horizontal graphical level, we have a bias that price will rise from 1st support at 72.85 in line with the 127.2% Fibonacci projection and horizontal overlap support to 1st resistance at 76.99 in line with the horizontal overlap resistance and 50% Fibonacci retracement and possibly to 2nd resistance at 79.99 in line with the 78.6% Fibonacci retracement and horizontal overlap resistance. Alternatively, price may break 1st support structure and head for 2nd support at 68.31 in line with the 200% Fibonacci projection and horizontal overlap support .
Areas of consideration:
- H4 time frame, 1st resistance of 76.99
- H4 time frame, 1st support of 85
Dow Jones Industrial Average:
On the H4, with price approaching the support of the stochastics indicator, we are bias that price will bounce up to 1st resistance at 35335 in line with the 50% Fibonacci retracement and horizontal overlap resistance from 1st support at 34689 in line with the horizontal swing low support and 78.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 34224 in line with the horizontal swing low support.
- 4H resistance at 35335
- 4H support at 34689
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