DXY:
On the H4 timeframe, prices are consolidating sideways. We see potential for a bounce from our 1st support at 96.001 in line with 61.8% Fibonacci extension towards our 1st resistance at 96.349 in line with 61.8% Fibonacci retracement. RSI is at a level where bounces previously occurred. Breaking our 1st resistance may find prices climbing higher towards our 2nd resistance at 96.602 in line with 78.6% Fibonacci extension and 100% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 96.349
- H4 time frame, 1st support at 96.038
XAU/USD (GOLD):
On the H4 chart, prices are on bearish momentum and abiding to a bearish trendline. We see potential for prices to dip from our 1st resistance at 1809.87 in line with 78.6% Fibonacci extension towards our 1st support at 1788.37 in line with 38.2% Fibonacci retracement. RSI is close to a level where dips previously occurred. Alternatively, breaking our 1st support will find prices dipping further towards our 2nd support at 1775.38 in line with 61.8% Fibonacci retracement.
Areas of consideration:
- 4h 1st support at 1788.37
- 4h 1st resistance at 1809.87
GBP/USD
On the H4 chart, price has recently broken out of the descending channel and is near 1st resistance of 1.33584 which is also 61.8% Fibonacci retracement and 127.2% Fibonacci projection. Price can potentially go to the 2nd resistance of 1.34256 which is also -27.2% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it
Areas of consideration:
- H4 first resistance at 1.33584
- H4 2nd resistance at 1.34526
USD/CHF:
In reference to yesterday’s analysis, price indeed dropped to 1st Support. On the H4 timeframe, we can expect price to bounce from the 1st Support in line with 100% Fibonacci projection, 78.6% Fibonacci retracement and horizontal support towards 1st Resistance in line with 78.6% Fibonacci retracement, 127.2% FIbonacci projection and horizontal resistance. Our short-term bullish bias is further supported by the stochastic indicator where the %K line is at the support level.
Areas of consideration:
- Watch 1st Support at 0.91912
- Watch 1st Resistance at 0.92689
EUR/USD :
On the H4 chart price is near 1st resistance level of 1.13811 which is also 100% Fibonacci projection and 38.2% Fibonacci retracement . Price can potentially dip to the 1st support level of 1.12339 which is also 78.6% Fibonacci projection. Our bearish bias is supported by RSI indicator as it is near resistance level. Alternatively, if price breaks the 1st resistance it can potentially go to the 2nd resistance of 1.14380 which is also 50% Fibonacci retracement.
Areas of consideration:
- H4 first resistance at 1.13811
- H4 1st support at 1.12339
USD/JPY:
On the H4 timeframe, price is abiding to the ascending channel, showing an overall bullish momentum. However, we can expect a short term bearish momentum from 1st resistance , in line with previous high and 100% Fibonacci projection and drop towards 1st Support in line with horizontal support, 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bearish bias is further supported by stochastic where the %K line dropped from the resistance.
Areas of consideration:
- H4 1st resistance level 114.217
- H4 1st support level 113.462
AUD/USD:
In reference to yesterday’s analysis, price indeed pushed up to 1st Resistance. On the H4, price has broken out of the descending trendline resistance and reacting in an ascending channel, signifying bullish momentum. However, price is currently at a resistance, we can expect price to drop from 1st Resistance in line with 100% Fibonacci projection towards 1st Support in line with 78.6% Fibonacci projection and 78.6% Fibonacci retracement. Our short-term bearish bias is further supported by the stochastic indicator where the %K line where it is at the resistance level.
Areas of consideration:
- H4 1st Support level 0.71203
- H4 1st resistance level 0.72186
NZD/USD:
On the H4, prices are on a bearish momentum and consolidating in a bearish channel. With RSI at a level where dips previously occurred, we see a potential dip from our 1st resistance at 0.68182 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension towards our 1st support at 0.67609 in line with 50% Fibonacci retracement. Alternatively, breaking our 1st resistance may find prices climbing higher towards our 2nd resistance at 0.68676 in line with 127.2% Fibonacci extension and 127.2% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 0.68182
- H4 time frame, 1st support at 0.67609
USD/CAD:
On the H4 timeframe,with price bouncing off the support of the stochastics indicator and being at a support of the ichimoku cloud, we have a bullish bias that price will rise from 1st support at 1.28495 in line with the graphical overlap support, 78.6 Fibonacci projection and 61.8% Fibonacci retracement to 1st resistance at 1.29380 in line with the 78.6% Fibonacci projection and graphical swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 1.27628 in line with the horizontal swing low support and 127.2% Fibonacci projection.
Areas of consideration:
- H4 time frame, support at 1.28495
- H4 time frame, resistance at 1.29380
OIL:
On the H4 timeframe,with price breaking the resistance of the ichimoku cloud, we have a bullish bias that price will rise from 1st support at 74.29 in line with the graphical overlap support to 1st resistance at 76.80 in line with the 127.2% Fibonacci projection and graphical swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 70.48 in line with the horizontal swing low support and 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 76.80
- H4 time frame, 1st support of 74.29
Dow Jones Industrial Average:
On the H4 timeframe, with price breaking the resistance structure of the stochastics indicator, we have a bullish bias that price will rise from 1st support at 35594 in line with the graphical overlap resistance and 61.8% Fibonacci retracement to 1st resistance at 36153 in line with the 61.8% Fibonacci projection and graphical swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 35250 in line with the horizontal overlap support.
Area of consideration:
- 4H resistance at 36153
- 4H support at 35594
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