DXY:
On the H4 timeframe, prices are on a bullish momentum. We see potential for a short pullback towards our 1st support at 95.263 in line with 38.2% and 61.8% Fibonacci retracement. Stochastics are at a level where dips previously happened. Alternatively, prices might climb towards our 1st resistance at 96.058 in line with 78.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 96.058
- H4 time frame, 1st support at 95.263
XAU/USD (GOLD):
On the H4 chart, prices have recently broken out of our ascending trendline and have tested our 1st support at 1851.66. We would watch our intermediate resistance at 1863.84 for any reversal pattern to confirm a trend reversal. As technical indicators are showing mixed signals, we prefer to remain neutral for now.
Areas of consideration:
- 4h 1st support at 1851.66
- 4h intermediate resistance at 1863.84
EUR/USD:
On the H4 chart, price is near support level of 1.13230 which is also the graphical swing low. Price can potentially go to the first resistance of 1.13826 which is also 23.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by the stochastic indicator as it is near support level.
Areas of consideration :
H4 first support – 1.13182
H4 first resistance – 1.14616
USD/CHF:
On the H4 timeframe,price is currently reacting at a level of resistance where price has tested many times and failed to break pass. We can expect price to drop from 1st Resistance in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards the 1st Support in line with 23.6% Fibonacci retracement and 100% Fibonacci projection. Our short-term bearish bias is further supported by the stochastic indicator where the %K line touched the resistance level waiting for the drop.
Areas of consideration:
- Watch 1st Support at 0.92635
- Watch 1st Resistance at 0.93123
GBP/USD:
Price is trading in a descending trendline and near the first resistance level of 1.34322 which is also 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially dip to the first support level of 1.33550 which is the graphical swing low. Alternatively if price were to break to the first resistance of 1.3433, it can go to the 2nd resistance. Our bearish bias is supported by the moving average and ichimoku cloud indicator as price is trading under it.
Areas of consideration :
1st resistance – 1.34333
1st support – 1.33585
USD/JPY :
On the H4 timeframe, we can expect price to make a short-term retracement from 1st resistance in line with 78.6% Fibonacci projection towards 1st Support in line with 50% Fibonacci retracement and 127.2% Fibonacci Projection. Our short-term bearish bias is further supported by a stochastic indicator where the%K line approached the resistance.
Areas of consideration:
- H4 1st resistance level 114.894
- H4 1st support level 114.292
AUD/USD:
On the H4, we can see that price is abiding to the descending trendline resistance, signifying a bearish momentum. However, we can expect price to make a small retracement and bounce from 1st Support in line with 61.8% Fibonacci projection towards the 1st Resistance in line with 61.8% Fibonacci projection. Our short-term bullish momentum is further supported by the stochastic indicator where the%K line would bounce from the support level.
Areas of consideration:
- H4 1st resistance level 0.73413
- H4 1st support level 0.72842
NZD/USD:
On the H4 timeframe, prices are on a bearish momentum. We see potential for prices to dip further to test our 1st support at 0.69798 in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement towards our bearish trendline. Technical indicators are showing bearish momentum. If prices break our 1st support, prices can potentially dip further towards our 2nd support at 0.69356 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension.
Areas of consideration:
- H4 time frame, 1st resistance at 0.70849
- H4 time frame, 1st support at 0.69798
USD/CAD:
On the H4, with price approaching resistance on the stochastics indicator, we have a bearish bias that price will dip to 1st support at 1.24935 in line with the graphical swing low support from 1st resistance at 1.26028 in line with the horizontal overlap resistance and possibly to 2nd support at 1.24163 in line with our horizontal overlap resistance and 61.8% Fibonacci retracement level. Alternatively, we may see price break 1st resistance structure and head for 2nd resistance at 1.27083 in line with the100% Fibonacci projection level and horizontal swing high resistance.
Areas of consideration:
- H4 time frame, support at 24935
- H4 time frame, resistance at 26028
OIL:
On the H4 timeframe,we can see price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 83.10 in line with the 50% Fibonacci retracement level and horizontal swing high resistance to 1st support at 80.68 in line with our horizontal swing low support. Alternatively, price may break 1st resistance and head for 2nd resistance at 84.47 in line with our 78.6% Fibonacci retracement levels.
Areas of consideration:
- H4 time frame, 1st resistance of10
- H4 time frame, 1st support of68
Dow Jones Industrial Average:
On the H4, with price testing the support on the ascending trendline, the support of the ichimoku cloud and the horizontal overlap support at 1st support in line with the 38.2% Fibonacci retracement at 36160, we are biased that price will rise from here to 1st resistance at 36568 in line with the horizontal swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 35816 in line with graphical overlap support and 78.6% Fibonacci retracement.
Areas of consideration:
- 4H resistance at 36568
- 4H support at 36160
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