DXY:
On the H4 timeframe, prices are on bullish momentum and consolidating in a parallel channel. We see the potential for a bounce from our 1st support at 98.659 in line with 61.8% Fibonacci projection and 78.6% Fibonacci Projection towards our 1st resistance at 99.923 in line with 78.6% Fibonacci retracement and 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 99.923
- H4 time frame, 1st support at 98.659
XAU/USD (GOLD):
On the H4, prices are on bearish momentum and abiding to our descending trendline. We see the potential for further bearish continuation from our 1st resistance at 1959.549 in line with 23.6% Fibonacci retracement towards our 1st support at 1925.725 in line with 50% Fibonacci retracement and 161.8% Fibonacci projection. Ichimoku is on bearish momentum, further supporting our bias.
Areas of consideration:
- 4h 1st support at 1925.725
- 4h 1st resistance at 1959.549
GBP/USD
On the H4, prices are on bearish momentum and abiding by our descending trendline resistance. We see the potential for further bearish continuation from our 1st resistance at 1.31987 in line with 38.2% Fibonacci Retracement towards our 1st support at 1.29333 in line with 78.6% Fibonacci retracement. Our bearish bias is supported by the ichimoku cloud indicator as price is trading under it.
Areas of consideration
- H4 1st resistance at 1.31987
- H4 1st support at 1.29333
USD/CHF:
On the H4, with price expected to reverse off the stochastics indicator, we have a bias that price will drop from 1st resistance at 0.94065 in line with the 127.2% Fibonacci extension to 1st support at 0.93215 in line with the horizontal pullback support .Alternatively, price may break 1st resistance structure and head for 2nd resistance at 0.94655 in line with the 161.8% Fibonacci extension.
Areas of consideration
- 1st support level 0.93215
- 1st resistance 0.94065
EUR/USD :
On the H4 price is near 1st support level of 1.09371 in line with 61.8% Fibonacci retracement. Price can potentially go up to the 1st resistance level which in line with 78.6% Fibonacci projection and 50% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator as it is at the resistance level.
Areas of consideration :
- H4 1st resistance at 1.11197
- H4 1st support at 1.09371
USD/JPY:
On the H4 timeframe prices are on bullish momentum. We see the potential for further bullish continuation from our 1st support at 117.422 in line with 38.2% Fibonacci retracement towards our 1st resistance at 119.145 in line with 200% Fibonacci projection and 161.8% Fibonacci projection. Prices are trading above our ichimoku cloud support, further supporting our bullish bias.
Areas of consideration:
- H4 time frame, 1st resistance at 119.145
- H4 time frame, 1st support at 117.422
AUD/USD:
On the H4 chart, price is near the 1st support level of 0.70955 in line with 100% Fibonacci projection. Price can potentially bounce to the 1st resistance level of 0.72472 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator as it is at support level.
Areas of consideration
- H4 1st resistance at 0.72472
- H4 1st support at 0.70955
NZD/USD:
On the H4 price is near 1st support level of 0.67045 in line with 61.8% Fibonacci projection. Price can potentially bounce to the 1st resistance level at 0.68739 in line with 78.6% Fibonacci retracement. Our bullish bias is further supported by the stochastic indicator as it is at support level.
Areas of consideration :
- H4 1st resistance at 0.68739
- H4 1st support at 0.67045
USD/CAD:
On the H4, with price expected to reverse off the stochastics indicator, we have a bias that price will drop from 1st resistance at 1.28863 in line with the 61.8% Fibonacci projection to 1st support at 1.27090 in line with the horizontal swing low support and 61.8% Fibonacci projection.Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.29422 in line with the 78.6% Fibonacci projection.
Areas of consideration:
- H4 time frame, 1st support at 1.27090
- H4 time frame, 1st resistance at 1.28863
OIL:
On the H4, with price moving below the ichimoku cloud, we have a bias that price will drop from 1st resistance at 105.6 in line with the horizontal overlap resistance to 1st support at 90.8 in line with the swing low support .Alternatively, price may break 1st resistance and head for 2nd resistance at 112.53 in line with the swing high resistance.
Areas of consideration:
- H4 time frame, 1st resistance of 105.6
- H4 time frame, 1st support of 90.8
Dow Jones Industrial Average:
On the H4, with price moving below the ichimoku cloud, we have a bias that price will drop from 1st resistance at 33183 in line with the swing high resistance to 1st support at 32538 in line with the swing low support .Alternatively, price may break 1st resistance and head for 2nd resistance at 33432 in line with the 61.8% Fibonacci projection. Our bearish bias is further supported by the descending trendline.
Areas of consideration :
- H4 1st support at 32538
- H4 1st resistance at 33183
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