DXY:
On the H4 timeframe, prices are on bearish momentum and abiding to our descending trendline. We would expect a small bounce from our 1st support at 95.857 in line with 127.2% Fibonacci extension towards our 1st resistance at 96.126 in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. RSI is aat a level where bounces previously occurred.
Areas of consideration:
- H4 time frame, 1st resistance at 96.126
- H4 time frame, 1st support at 95.857
XAU/USD (GOLD):
On the H4 chart, prices were on bullish momentum but have experienced a sharp dip towards our support. As technical indicators are showing mixed signals we prefer to remain neutral for now.
Areas of consideration:
- 4h 1st support at 1787.525
- 4h 1st resistance at 1811.345
GBP/USD
On the H4 chart, price has recently broken out of the descending channel and near 1st support level of 1.34251 which is also 23.6% Fibonacci retracement. Price can potentially go to the 1st resistance of 1.36047 which is 100% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.
Areas of consideration :
- H4 1st support 1.34251
- H4 1st resistance 1.36047
USD/CHF:
On the H4 timeframe, price broke out of the ascending trendline support, signifying potential bearish momentum. We can expect price to drop from 1st Resistance in line with 23.6% Fibonacci retracement and 61.8% Fibonacci projection towards 1st Support in line with 127.2% Fibonacci extension and 100% Fibonacci projection. Our bearish bias is further supported by price holding below the Ichimoku cloud and RSI is abiding to the descending trendline resistance.
Areas of consideration:
- Watch 1st Support at 0.91030
- Watch 1st Resistance at 0.91562
EUR/USD :
On the H4 chart, price is near the first resistance level of 1.13740 which is the 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Price can potentially dip to the 1st support level of 1.12339 which is 100% Fibonacci projection and 78.6% Fibonacci retracement. Our bearish bias is supported by RSI as it is abiding by the descending trendline.
Areas of consideration :
- H4 1st resistance 1.13740
- H4 1st support 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 and drop from 1st resistance in line with graphical overlap resistance ,100% Fibonacci projection and 78.6% Fibonacci retracement towards 1st Support in line with graphical overlap support, 61.8% Fibonacci projection and 38.2% 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 114.897
- H4 1st support level 114.288
AUD/USD:
On the H4, price is 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 127.2% Fibonacci projection and -27.2% Fibonacci Extension towards 1st Support in line with 100% Fibonacci projection and 78.6% Fibonacci retracement. Our short-term bearish bias is further supported by the stochastic indicator where the %K line is at the resistance level.
Areas of consideration:
- H4 1st Support level 0.71203
- H4 1st resistance level 0.72496
NZD/USD:
On the H4 timeframe, prices have recently broken out of our ascending trendline. We see the potential for a bounce from our 1st support at 0.68418 in line with 127.2% Fibonacci extension towards our 1st resistance at 0.68630 in line with 61.8% Fibonacci extension. Prices are still trading above ichimoku clouds, further supporting our bias.
Areas of consideration:
- H4 time frame, 1st resistance at 0.68630
- H4 time frame, 1st support at 0.68418
USD/CAD:
On the H4 timeframe, prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our 1st resistance at 1.27834 in line with 23.6% Fibonacci retracement towards our 1st support at 1.27435 in line with 161.8% and 127.2% Fibonacci extension. Prices are trading below the ichimoku clouds and also below our EMA, further supporting our bearish bias.
Areas of consideration:
- H4 time frame, 1st support at 1.27435
- H4 time frame, 1st resistance at 1.27834
OIL:
On the H4 timeframe, prices were on bullish momentum and consolidating in a bullish channel. With RSI at strong overbought levels, we see the potential for a small pullback from our 1st resistance at 78.98 which is an area of Fibonacci confluences towards our 1st support at 77 in line with 23.6% Fibonacci retracement. Alternatively, breaking our 1st resistance may find prices climbing higher towards our 2nd resistance at 82.42 in line with 100% Fibonacci retracement, 78.6% FIbonacci extension and 127.2% Fibonacci extension.
Areas of consideration:
- H4 time frame, 1st resistance of 26
- H4 time frame, 1st support of 77
Dow Jones Industrial Average:
On the H4 timeframe,with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop to 1st support at 35594 in line with the graphical overlap support and 50% Fibonacci retracement from 1st resistance at 36536 in line with graphical swing high resistance, 78.6% Fibonacci projection and 127.2% Fibonacci extension. Alternatively, we may see price break 1st resistance and head for 2nd resistance at 36999 in line with the horizontal 100% Fibonacci projection and 161.8% Fibonacci extension.
Area of consideration:
- 4H resistance at 36536
- 4H support at 35594
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