DXY:
On the H4 timeframe, prices are consolidating in a triangle. We see the potential for a dip from our 1st resistance at 96.574 in line with 61.8% Fibonacci retracement towards our 1st support at 96.392 in line with 50% and 38.2% Fibonacci retracement. Technical indicators are showing bearish momentum. Alternatively, breaking our 1st support at 96.479 will find prices dipping further towards our 2nd support at 96.052 in line with 78.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 96.574
- H4 time frame, 1st support at 96.392
XAU/USD (GOLD):
On the H4 chart, prices have recently broken out of our bearish trendline and are retesting it at our 1st support. We see potential for prices to climb from our 1st support at 1791.93 in line with 61.8% Fibonacci retracement towards our 1st resistance at 1804.54 in line with 127.2% Fibonacci extension and 50% Fibonacci retracement. Technical indicators are showing bullish momentum. Alternatively, breaking our 1st resistance will find prices climbing further towards our 2nd resistance at 1815.59 in line with 161.8% Fibonacci projection.
Areas of consideration:
- 4h 1st support at 1790.93
- 4h 1st resistance at 1804.54
GBP/USD:
On the H4 chart, price is near the 1stsupport level of 1.31947 which is the graphical swing low level and 61.8% Fibonacci projection. Price can potentially bounce to the 1st resistance level of 1.33712 which is also 61.8% Fibonacci retracement and 127.2% Fibonacci projection. Our temporary bullish bias is supported by the RSI indicator as it is abiding by an ascending trendline.
Areas of consideration :
- H4 1st support at 1.31947
- H4 1st resistance at 1.33712
USD/CHF:
In reference to yesterday’s analysis, price indeed dropped to 1st Support in line. On the H4 timeframe, we can expect price to bounce from the 1st Support in line with 78.6% Fibonacci projection, 61.8% Fibonacci retracement and horizontal support towards 1st Resistance in line with 78.6% Fibonacci retracement, 100% FIbonacci projection and horizontal resistance. Our short-term bullish momentum is further supported by the MACD indicator where both the signal line and MACD line are below the zero line.
Areas of consideration:
- Watch 1st Support at 0.91912
- Watch 1st Resistance at 0.92689
EUR/USD :
On the H4 chart price is abiding by an ascending trendline and near the 1st support level of 1.12346 which is also 100% Fibonacci projection and 78.6% Fibonacci retracement. Price can potentially bounce to the 1st resistance level of 1.13598 which is also 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator as it is at support level.
Areas of consideration :
- H4 1st resistance at 1.13598
- H4 1st support at 1.12346
USD/JPY
In reference to last yesterday’s analysis, price indeed dropped from the 1st Resistance to the 1st Support. On the H4 timeframe, price broke out of the ascending support, signifying an overall bearish momentum. We can expect price to drop from 1st Resistance in line with Graphical overlap resistance and 23.6% Fibonacci retracement towards 1st Support in line with 50% Fibonacci retracement and 127.2% FIbonacci projection. Our bearish bias is further supported by the MACD indicator where the signal line crosses above the MACD line.
Areas of consideration:
- H4 1st resistance level 113.726
- H4 1st support level 113.325
AUD/USD:
On the H4, price has broken out of the descending trendline resistance and reacting in an ascending channel, signifying bullish momentum. We can expect price to bounce from 1st Support in line with 23.6% Fibonacci retracement towards 1st Resistance in line with 78.6% Fibonacci projection and 78.6% Fibonacci retracement. Our bullish bias is further supported by the stochastic indicator where the %K line bounced off at the support level.
Areas of consideration:
- H4 1st Support level 0.71203
- H4 1st resistance level 0.71821
NZD/USD:
With RSI at a support level where bounces previously occurred, we see a potential bullish bounce on our H4 timeframe. We see potential for prices to bounce from our 1st support at 0.67012 in line with 100% Fibonacci retracement, 100% Fibonacci extension and 161.8% Fibonacci projection towards our 1st resistance at 0.67627 in line with 50% Fibonacci retracement. Alternatively, breaking our 1st resistance may find prices climbing higher towards our 2nd resistance at 0.68339 in line with 100% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 0.67627
- H4 time frame, 1st support at 0.67012
USD/CAD:
On the H4 timeframe,with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from 1st resistance at 1.29494 in line with the graphical swing high resistance to 1st support at 1.28445 in line with the horizontal swing low support and 61.8% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.30390 in line with the 161.8% Fibonacci retracement and horizontal swing high resistance.
Areas of consideration:
- H4 time frame, support at 1.28445
- H4 time frame, resistance at 28445
OIL:
On the H4 timeframe, with price moving below the ichimoku cloud, we have a bearish bias that price will rise from 1st resistance at 72.51 in line with the graphical swing overlap resistance and 50% Fibonacci retracement to 1st support at 69.56 in line with the 61.8% Fibonacci retracement and graphical swing low support. Alternatively, we may see price break 1st resistance and head for 2nd resistance at 75.02 in line with the horizontal swing high resistance.
Areas of consideration:
- H4 time frame, 1st resistance of 51
- H4 time frame, 1st support of56
Dow Jones Industrial Average:
On the H4 timeframe, with price moving below the ichimoku cloud, we have a bearish bias that price will rise from 1st resistance at 35271 in line with the graphical swing overlap resistance and 38.2% Fibonacci retracement to 1st support at 34417 in line with the 78.6% Fibonacci retracement and graphical swing low support. Alternatively, we may see price break 1st resistance and head for 2nd resistance at 36153 in line with the horizontal swing high resistance.
Area of consideration:
- 4H resistance at 35271
- 4H support at 34417
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