DXY:
On the H4 timeframe, prices are abiding by a daily ascending trendline and are on bullish momentum. We see the potential for a bounce from our 1st support at 95.951 in line with 38.2% Fibonacci retracement and graphical overlap towards our 1st resistance at 96.246 in line with 50% Fibonacci retracement. Our bullish bias is further supported by our RSI being bullish momentum.
Areas of consideration:
- H4 time frame, 1st resistance at 96.246
- H4 time frame, 1st support at 95.951
XAU/USD (GOLD):
On the H4 chart, prices are consolidating in a daily triangle and are on bullish momentum. We see potential for a bounce from our 1st support at 1820.990 in line with 61.8% Fibonacci extension and 78.2% Fibonacci expansion towards our 1st resistance at 1851.340 in line with 23.6% Fibonacci retracement. RSI are at levels where dips previously occurred.
Areas of consideration:
- 4h 1st support at 1820.990
- 4h 1st resistance at 1851.340
GBP/USD:
In the H4 chart , price is trading in an ascending channel and near 1st support level of 1.35043 which is also 50% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially continue its bullish momentum to the 1st resistance level of 1.36461 in line with 61.8% Fibonacci projection and 78.6% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.
Areas of consideration:
– H4 1st resistance 1.36461
– H4 1st support 1.35043
USD/CHF:
On the H4 timeframe, price is abiding to the daily ascending channel and descending trendline resistance on the H4. We can expect the price to drop from 1st Resistance in line with 61.8% Fibonacci projection towards 1st Support in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bearish bias is further supported by the RSI indicator where it is abiding to the descending trendline resistance. Traders should wait for prices to swing higher or lower before entering.
Areas of consideration:
- Watch 1st Support at 0.92211
- Watch 1st Resistance at 0.92634
EUR/USD :
On the H4 chart, price is near 1st support level of 1.12798 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially bounce from this level to the 1st resistance which is also 38.2% Fibonacci retracement and graphical overlap resistance. Our bearish bias is supported by the ichimoku cloud indicator.
Areas of consideration:
- H4 1st resistance at 1.13611
- H4 1st support at 1.12798
USD/JPY:
On the H4 chart, in reference to yesterday’s analysis, price indeed bounced at 1st Support @ 115.039. Price is abiding to the ascending trendline support and the ascending channel on the daily, signifying an overall bullish momentum. We can expect price to bounce at the 1st Support level in line with 78.6% FIbonacci projection ,61.8% Fibonacci retracement and trendline support towards 1st Resistance in line with 61.8% Fibonacci projection and swing high resistance. Our bullish bias is further supported by the Ichimoku cloud acting as a support. Traders should wait for price tp swing higher or lower before entering.
Areas of consideration:
- H4 1st support at 115.039
- H4 1st resistance at 116.297
AUD/USD:
Price broke out of the descending channel, signifying an overall bullish momentum. We can expect price to bounce from 1st Support in line with 61.8% Fibonacci retracement, 127.2% Fibonacci projection and graphical overlap support towards 1st Resistance in line with previous swing high and 78.6% Fibonacci projection. Our bullish bias is further supported by the Ichimoku indicator where the prices are holding above the cloud.
Areas of consideration:
- H4 1st Support level 0.71144
- H4 1st resistance level 0.72584
NZD/USD:
On the H4 timeframe, prices are on bearish momentum and abiding to a descending trendline. We see potential for bearish momentum from our 1st resistance at 0.67029 in line with 23.6% Fibonacci retracement towards our 1st support at 0.66058 in line with 61.8% Fibonacci retracement. Our bias is further supported by RSI being at levels where dips previously occurred and also ichimoku cloud forecasting bearish momentum . Alternatively, our stop loss will be placed at 2nd resistance at 0.67447 in line 61.8% Fibonacci extension.
Areas of consideration:
- H4 time frame, 1st resistance at 0.67029
- H4 time frame, 1st support at 0.66058
USD/CAD:
On the H4, with price expected to bounce off the support of the ichimoku cloud, signifying an overall bullish momentum. We can expect price to rise to our 1st resistance at 1.277777 in line horizontal graphical swing high resistance from our 1st support in line with horizontal overlap support and 78.6% Fibonacci retracement at 1.27013. Alternatively, price may break 1st support structure and head for 2nd support, which coincides with horizontal swing low support at 1.26518.
Areas of consideration:
- H4 time frame, 1st support at 1.27013
- H4 time frame, 1st resistance at 1.277777
OIL:
On the H4, with price expected to bounce off the support of the ichimoku cloud, signifying an overall bullish momentum. We can expect price to rise to our 1st resistance at 95.83 in line horizontal graphical swing high resistance and -61.8% Fibonacci expansion and 127.2% Fibonacci extension level from our 1st support in line with horizontal overlap support and 61.8% Fibonacci retracement at 92.51. Alternatively, price may break 1st support structure and head for 2nd support, which coincides with horizontal swing low support at 90.23.
Areas of consideration:
- H4 time frame, 1st resistance of 95.83
- H4 time frame, 1st support of 92.51
Dow Jones Industrial Average:
On the H4, with prices moving below the ichimoku cloud, we see the potential for a drop to our 1st support at 34374 in line with horizontal swing low support from our 1st resistance at 34987 in line with the 50% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 35699, in line with the horizontal overlap resistance and 78.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance of 34987
- H4 time frame, 1st support of 34374
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.
