DXY:
On the H1 timeframe, prices are approaching a pivot. We see the potential for a dip from our 1st resistance at 98.4931 in line with 50% Fibonacci Retracement towards our 1st support at 97.7490 in line with 61.8% Fibonacci Projection. Prices are trading below our ichimoku clouds, further supporting our bearish bias.
Areas of consideration:
- H4 time frame, 1st resistance at 98.4931
- H4 time frame, 1st support at 97.749
XAU/USD (GOLD):
On the H1, prices are abiding by our support. We see the potential for further bullish continuation from our 1st support at 1918.010 which is in line with 50% Fibonacci retracement towards our 1st resistance at 1938.927 in line which is a graphical overlap.
Areas of consideration:
- 4h 1st support at 1918.01
- 4h 1st resistance at 1938.927
GBP/USD:
On the H4, prices are abiding by an ascending trendline support. We see the potential for a dip from our 1st resistance 1.31152 at 23.6% Fibonacci retracement towards our ascending trendline support. Breaking our ascending trendline support will find prices dipping towards our 1st support at 1.30558 in line with 61.8% FIbonacci retracement. Our bearish bias is further supported by prices trading below our ichimoku cloud resistance. Alternatively, prices may climb towards our 2nd resistance at 1.31622 in line with our graphical swing high.
Areas of consideration:
- H4 1st resistance at 1.31152
- H4 1st support at 1.30558
USD/CHF:
On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bias that price will rise to our 1st resistance at 0.93001 in line with the 50% Fibonacci retracement from our 1st support at 0.92270 in line with the horizontal overlap support and 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support at 0.91630 in line with the swing low support.
Areas of consideration
- 1st support level at 0.92302
- 1st resistance level at 0.93001
EUR/USD :
On the H4 timeframe, prices are consolidating in a parallel channel. We see the potential for a bounce from our 1st support at 1.10347 in line with 78.6% Fibonacci retracement towards our 1st resistance at 1.11848 in line with 61.8% Fibonacci Projection. Stochastics are at levels where bounces previously occurred, further supporting our bullish bias.
Areas of consideration :
- H4 1st resistance at 1.11848
- H4 1st support at 1.10347
USD/JPY:
On the weekly, prices have approached an all time high. We see the potential for a dip from our 1st resistance at 125.271 in line with 200% Fibonacci Projection towards our 1st support at 118.894 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred. On the daily, prices are on strong bullish momentum. We see the potential for a bounce from our 1st support at 121.320 in line with 38.2% Fibonacci retracement towards our 1st resistance at 124.312 which is a swing high. On the H4 timeframe, prices have approached a strong resistance. We see the potential for a dip from our 1st resistance at 122.411 in line with 23.6% Fibonacci retracement towards our 1st support at 121.277 in line with 100% Fibonacci Projection. Prices are testing the ichimoku clouds, supporting our bearish bias.
Areas of consideration:
- H4 time frame, 1st resistance at 122.411
- H4 time frame, 1st support at 121.277
AUD/USD:
On the H4 timeframe, we see the potential for a dip from our 1st resistance at 0.75368 which is an area of Fibonacci confluences towards our 1st support at 0.74412 in line with 23.6% Fibonacci retracement. Our bullish bias is supported by price trading below the Ichimoku cloud indicator.
Areas of consideration
- H4 1st resistance at 0.75368
- H4 1st support at 0.74412
NZD/USD:
On the H4, with price expected to bounce off the support of the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.69875 in line with the swing high resistance from our 1st support at 0.68752 in line with the horizontal overlap support, 50% Fibonacci retracement and 100% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 0.68332 in line with the 138.2% Fibonacci extension and 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 0.68752
- H4 time frame, 1st resistance at 0.69875
USD/CAD:
On the H4, with price moving below the ichimoku cloud, we expect to see a potential for bearish drop from our 1st resistance of 1.25349 in line with the 23.6% fibonacci retracement and 61.8% Fibonacci projection towards our 1st support level at 1.24519 in line with the swing low support. Alternatively, If price breaks out, it can potentially move towards our 2nd resistance level at 1.25900 which is in line with the 38.2% Fibonacci retracement and 100% Fibonacci projection.
Areas of consideration:
- H4 time frame, 1st support at 1.24519
- H4 time frame, 1st resistance at 1.25349
OIL:
On the H4, with price moving below the ichimoku cloud, we expect to see a potential for bearish drop from our 1st resistance of 113.70 in line with the pullback resistance and 38.2% Fibonacci retracement towards our 1st support level at 97.75 in line with the 61.8% and 78.6% Fibonacci projection, 161.8% Fibonacci extension, -27.2% Fibonacci expansion. Alternatively, If price breaks out, it can potentially move towards our 2nd resistance level at 123.24 which is in line with the swing high resistance.
Areas of consideration:
- H4 time frame, 1st resistance of 113.70
- H4 time frame, 1st support of 98.14
Dow Jones Industrial Average:
On the H4, with price moving above the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 35823 in line with the 127.2% Fibonacci extension from our 1st support at 34065 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 32633 in line with the horizontal swing low support.
Areas of consideration :
- H4 1st support at 34065
- H4 1st resistance at 35823
