DXY:
On the weekly, prices are on a bullish momentum and abiding to our ascending trendline. We see potential for prices to dip from our 1st resistance at 96.093 towards our 1st support at 94.650 in line with 23.6% Fibonacci retracement. RSI is a level where pullbacks previously occurred.
On the daily, prices are on a bullish momentum and abiding to a bullish trendline. We see potential for a bounce from our 1st support at 95.716 which is an area of Fibonacci confluences towards 1st resistance at 96.818 in line with 200% Fibonacci extension. Technical indicators are showing bullish momentum.
On the H4 timeframe, prices were abiding to a daily ascending trendline and have recently broken through our bullish trendline. We see the potential for prices to reverse at our 1st support at 95.842 in line with 78.6% and 127.2% Fibonacci extension towards our 1st resistance at 96.363 in line with 50% Fibonacci retracement. Technical indicators are showing bullish momentum.
Areas of consideration:
- H4 time frame, 1st resistance at 96.363
- H4 time frame, 1st support at 95.842
XAU/USD (GOLD):
On the weekly, prices have recently tested the bottom of our triangle and we see the potential for a bounce towards our intermediate resistance at 1833.95 in line with 61.8% Fibonacci retracement. Technical indicators are showing bullish momentum.
On the daily, prices are consolidating in a triangle. We see potential for prices to dip from our 1st resistance at 1804.61 in line with 38.2% Fibonacci retracement towards our 1st support at 1780.53 in line with 61.8% Fibonacci retracement. Technical indicators are showing potential for downside.
On the H4 chart, prices are abiding to our daily bearish trendline. We see potential for prices to dip from our 1st resistance at 1799.38 in line with 127.2% Fibonacci extension towards our 1st support at 1788.6 in line with 23.6% Fibonacci retracement. Technical indicators are showing bearish momentum. Alternatively, breaking our 1st resistance will find prices climbing further towards our 2nd resistance at 1882.32 in line with 161.8% Fibonacci projection.
Areas of consideration:
- 4h 1st support at 1788.6
- 4h 1st resistance at 1798.79
GBP/USD
On the weekly chart , price is near the 1st resistance level of 1.33498 which is also 61.8% Fibonacci retracement. Price can potentially dip to the 1st support level of 1.27153 which is also 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the ichimoku cloud indicator as price is below the clouds.
On the daily chart, price has recently bounced from the first support level of 1.31675 which is also 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially go to the 1st resistance level of 1.38756 which is also 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by stochastic as it is near the support level.
On the H4 chart, price is near 1st resistance level of 1.33636 which is also 127.2% Fibonacci projection and 38.2% Fibonacci retracement. Price can potentially go to the 2nd resistance of 1.35021 which is also 78.6% 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 : 1.32691
H4 1st resistance 1.33646
USD/CHF:
On the Weekly timeframe, price is reacting in a triangle pattern. Traders should wait for the price to swing higher or lower before entering. On the Daily timeframe, we can expect an overall bullish momentum. Price could bounce from 1st Support in line with 78.6% Fibonacci retracement and 78.6% FIbonacci projection towards 1st Resistance in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is further supported by the stochastics indicator where the %D line is abiding to the ascending trendline.
On the H4 timeframe, in reference to yesterday’s analysis price indeed dropped from the 1st Resistance. We can expect the price to make a bounce from 1st Support in line with horizontal support and 127.2% Fibonacci projection towards 1st Resistance in line with 78.6% Fibonacci retracement. Our short-term bullish bias is further supported by the RSI indicator where it is at the recent support level.
Areas of consideration:
- Watch 1st Support at 0.91912
- Watch 1st Resistance at 0.92640
EUR/USD :
On the weekly chart price is near 1st resistance level of 23.6% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially dip to the 1st support level of 1.09765 which is also 78.6% Fibonacci retracement. Our bearish bias is supported by the ichimoku cloud indicator as price is trading below it.
On the daily chart, price is abiding by the descending trendline and is near the 1st resistance level of 1.13787 which is also 38.2% Fibonacci retracement and 100% Fibonacci projection. Price can potentially dip to the 1st support level of 1.1137 which is also 61.8% Fibonacci retracement. Our bearish bias is supported by the ichimoku cloud indicator as price is trading below it.
On the H4 chart, price has recently broken out of the descending trendline and near 1st support level of 1.13154 which is also 50% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially go to the 1st resistance level of 1.13734 which is also 61.8% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.
USD/JPY
On the Weekly timeframe, we can see that price touched the 1st resistance in line with horizontal swing highs and 127.2% FIbonacci Retracement and 161.8% Fibonacci Projection. We can expect the price to drop from the 1st Resistance towards the 1st Support in line with 61.8% Fibonacci projection and 50% Fibonacci retracement. Our short-term bearish momentum is further supported by the stochastic %K line holding below the descending trendline resistance and bearish divergence spotted. On the Daily timeframe, we can expect price to drop from 1st Resistance in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards 1st Support in line with 50% Fibonacci retracement, 78.6% Fibonacci projection and 127.2% Fibonacci extension. Our bearish bias is further supported by price holding below the MA period 35.
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 weekly, we can now expect the price to bounce from the 1st Support in line with 61.8% Fibonacci projection, 38.2 % FIbonacci retracement and 127.2% Fibonacci extensions. Our bullish bias is further supported by the RSI indicator abiding to an ascending trendline. In reference to last week’s analysis price, on the Daily, price indeed bounced from the 1st Support to 1st Resistance at 0.72303. We can now expect price to make a bounce from 1st Support in line with 38.2% Fibonacci retracement and 100% Fibonacci projection towards 1st Resistance in line with 61.8% FIbonacci projection and 38.2% Fibonacci retracement. Our bullish bias is further supported by the MACD indicator where the MACD line crosses above the signal line.
On the H4, price has broken out of the descending trendline resistance, signifying bullish momentum. We can expect price to bounce from 1st Support in line with graphical overlap support, 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards 1st Resistance in line with 78.6% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is further supported by the MACD indicator where the MACD line crosses above the signal line.
Areas of consideration:
- H4 1st Support level 0.71767
- H4 1st resistance level 0.72317
NZD/USD:
On the weekly, prices are at a pivot. We see potential for a bounce at 1st support at 0.67556 in line with 38.2% Fibonacci retracement and 161.8% Fibonacci Projection towards 1st resistance at 0.71569 in line with 50% and 78.6% Fibonacci retracement. Technical indicators are showing bullish momentum. Alternatively, if prices break our 1st support, we might find it dipping towards our 2nd support at 0.65395 in line with 50% Fibonacci retracement and 200% Fibonacci Projection.
On the daily, prices have recently formed a double bottom. We see potential for a bounce from our 1st support at 0.67590 towards our 1st resistance at 0.68650 in line with 23.6% Fibonacci retracement. Technical indicators are on bullish momentum.
On the H4 timeframe, prices have recently broken out of our bearish trendline. We see potential for prices to dip further towards our 1st support at 0.67608 in line with 61.8% Fibonacci retracement. If prices break our 1st support, prices can potentially dip further towards our 2nd support at 0.67366 in line with 78.6% Fibonacci retracement and 23.6% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 0.70263
- H4 time frame, 1st support at 0.69824
USD/CAD:
On the weekly timeframe, with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from 1st resistance at 1.28652 in line with the graphical overlap resistance and 61.8% Fibonacci projection to 1st support at 1.23427 in line with the horizontal swing low. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.33505 in line with the 50% Fibonacci retracement and horizontal overlap resistance.
On the daily timeframe, with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from 1st resistance at 1.28630 in line with the graphical swing high resistance and 61.8% Fibonacci projection to 1st support at 1.26358 in line with the horizontal overlap support and 50% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.30049 in line with the 78.6% Fibonacci retracement and horizontal overlap resistance.
On the H4, with price approaching the resistance of the stochastics and RSI indicator, we have a bearish bias that price will drop from 1st resistance at 1.28623 in line with the graphical swing high resistance to 1st support at 1.26104 in line with the horizontal swing low support and 50% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.30107 in line with the 161.8% Fibonacci extension and horizontal overlap resistance.
Areas of consideration:
- H4 time frame, support at 1.26104
- H4 time frame, resistance at 28623
OIL:
On the weekly timeframe, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to 1st resistance at 85.67 in line with the graphical swing high resistance and 161.8% Fibonacci extension from 1st support at 74.5 in line with the 127.2% Fibonacci extension. Alternatively, we may see price break 1st support and head for 2nd support at 70.27 in line with the 127.2% Fibonacci extension and horizontal overlap support.
On the daily timeframe, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from 1st resistance at 76.29 in line with the graphical swing high resistance and 61.8% Fibonacci extension to 1st support at 72.42 in line with the horizontal swing low support and 38.2% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 78.62 in line with the 78.6% Fibonacci retracement and horizontal overlap resistance.
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 76.34 in line with the graphical swing high resistance and 61.8% Fibonacci projection to 1st support at 72.53 in line with the horizontal overlap support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 78.27 in line with the 78.6% Fibonacci retracement and horizontal overlap resistance.
Areas of consideration:
- H4 time frame, 1st resistance of 34
- H4 time frame, 1st support of53
Dow Jones Industrial Average:
On the weekly timeframe, with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from 1st resistance at 36579 in line with the graphical swing high resistance and 161.8% Fibonacci projection to 1st support at 34212 in line with the horizontal swing low support and 78.6% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 37660 in line with the 161.8% Fibonacci extension level.
On the daily timeframe, with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from 1st resistance at 36151 in line with the graphical swing high resistance and 127.2% Fibonacci projection to 1st support at 35437 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 36534 in line with the horizontal swing high resistance.
On the H4, with price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from 1st resistance at 36153 in line with the graphical swing high resistance and 161.8% Fibonacci projection to 1st support at 35425 in line with the horizontal swing low support and 38.2% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 36583 in line with the horizontal swing high resistance and 161.8% Fibonacci projection .
Area of consideration:
- 4H resistance at 36153
- 4H support at 35425
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