USD/JPY:
The current general bias for USDJPY on the H4 chart is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Overnight, price had bearish momentum and closed under the 1st resistance at 149.343 where the 161.8% Fibonacci line is located. Price is currently resting on the 1st support at 145.900 where the 100% Fibonacci line is located. If this bearish retracement continues, expect price to head towards the 2nd support at 143.522 where the 100% and 38.2% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance at 147.410
- H4 time frame, 1st support at 145.90
DXY:
On the H4 chart, the overall bias for DXY is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Overnight, DXY had massive bearish momentum downwards and broke below the 1st resistance at 110.459 where the 61.8% Fibonacci line is located. If this bearish momentum continues, expect price to possibly head towards the 1st support at 109.340, where the 78.6% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 110.459
- H4 time frame, 1st support at 109.340
EUR/USD:
On the H4, price is moving within the short term ascending trendline and breaking the long term descending trendline, we have a bullish bias that the price may rise to the 1st resistance at 1.01971, where the previous swing high and 161.8% fibonacci extension are. Alternatively, the price may drop to the 1st support at 0.99904, which is in line with the previous swing high. If the 1st support is broken, the 2nd support is at 0.98673, where the 38.2% fibonacci retracement and overlap support sits.
Areas of consideration :
- H4 1st support at 0.99904
- H4 1st resistance at 1.01971
GBP/USD:
On the H4, price is crossing ichimoku cloud and breaking the descending trendline, we have a bullish bias that the price may test the 1st resistance at 1.18979, which is in line with the overlap resistance and 78.6% fibonacci retracement. Alternatively, the price may drop to the 1st support at 1.12688, where the swing low support and 23.6% fibonacci retracement are. If the 1st support is broken, the 2nd support is at 1.09364, which is in line with the 50% fibonacci retracement.
Areas of consideration:
- H4 1st resistance at 1.18979
- H4 1st support at 1.12688
USD/CHF:
On the H4 chart, the overall bias for USDCHF is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Overnight, price continued its bearish momentum downwards with price currently resting on the 1st support at 0.98570 where the 38.2% Fibonacci line is located. Expecting price to possibly continue bearish and head towards the 2nd support at 0.97667, where the 50% Fibonacci line is located.
Areas of consideration
- H4 1st support at 0.9857
- H4 2nd support at 0.97667
- H4 1st resistance at 1.0050
XAU/USD (GOLD):
On H4, with the price is within descending channel, we have a bearish bias that the price may drop to the 1st support at 1657.638, which is in line with the overlap support, if the 1st support is broken, the 2nd support is at 1639.815, where the previous swing low and 61.8% fibonacci retracement are. Alternatively, as the price is above ichimoku cloud, the price may test the 1st resistance at 1682.398, where the 61.8% fibonacci projection and retracement are. If the 1st resistance is broken, the 2nd resistance is at 1730.885, which is in line with the 61.8% fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 1657.638
- H4 time frame, 2nd support is at 1639.815
AUD/USD:
On the H4, with the price breaking the descending channel and ichimoku cloud, we have a bullish bias that the price may retest the 1st resistance at 0.65388, which is in line with the overlap resistance, if the 1st resistance is broken, the 2nd resistance is at 0.66748, where the overlap resistance is. Alternatively, the price may drop to the 1st support at 0.62906, which is in line with the 50% fibonacci retracement. If the 1st support is broken, the price may drop to the 2nd support at 0.61921, where the previous swing low, 61.8% fibonacci projection and 200% fibonacci extension are.
Areas of consideration
- H4, 1st resistance at 0.65388
- H4, 1st support at 0.62906
NZD/USD:
On the H4 chart, as the price is testing the descending trendline and the price is above ichimoku cloud , we have a bullish bias that the price may rise from the 1st support at 0.58148, which is in line with the previous swing high to the 1st resistance at 0.59963, where the overlap resistance and 50% fibonacci retracement are. Alternatively, the price may drop to the 2nd support at 0.56556, where the previous swing low and 61.8% fibonacci retracement are.
Areas of consideration:
- H4 time frame, 1st support at 0.58148
- H4 time frame, 1st resistance at 0.59963
USD/CAD:
On the H4 chart, the overall bias for USDCAD is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Overnight, price has continued its bearish momentum and is currently resting at the 1st support at 1.35029 where the previous low is. Expecting price to possibly rebound back up to retest the 1st resistance at 1.36751 where the 78.6% Fibonacci projection line and 23.6% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 1.36751
- H4 time frame, 1st support at 1.35029
OIL:
Looking at the H4 chart, the current overall bias for Oil is bullish. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. Overnight the price went above the 1st support line at 93.381 where the 38.2% and 78.6% Fibonacci lines are located. Expecting the price to head towards the 1st resistance line at 96.538 where the 100% and 23.6% Fibonacci lines are located if this bullish momentum continues.
Areas of consideration:
- H4 time frame, 1st resistance at 93.381
- H4 time frame, 1st support at 93.381
Dow Jones Industrial Average:
On the H4 chart, the overall bias for DJI is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price had massive bullish momentum upwards due to the weakening of the DXY. Price has tapped into the 1st resistance at 31896.61, where the 61.8% and 50% Fibonacci lines are and is currently resting under it. If this bullish momentum continues, expect price to possibly break above the 1st resistance at 31896.61 and head towards the 2nd resistance at 34293.93 where the previous swing high and 100% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st support at 29653.29
- H4 time frame, 1st Resistance at 31896.61
- H4 time frame, 2nd Resistance at 34293.93
DAX:
On the H4 chart, the overall bias for DAX is bearish. However, price has now closed above the Ichimoku cloud which indicates a change to bullish market momentum. Expecting price to possibly continue this bullish momentum and head towards the 1st resistance at 13490.91, where the 78.6% Fibonacci line is located. If the 1st resistance is broken, the 2nd resistance could be at 14717.44, which is in line with the previous swing high. Alternatively, the price may drop to the 1st support at 12548.42, which is in line with the swing low.
Areas of consideration:
- H4 time frame, current price
- H4 time frame, 1st resistance at 13490.91
ETHUSD:
Looking at the H4 chart, the current overall bias for ETHUSD is bullish. Overnight, the price went above the 1st support at 1488.77 where the 78.5% and 50% Fibonacci lines are located. If this bullish momentum continues, expect the price to continue heading towards the 1st resistance at 1651.44 where the 78.6% and 38.2% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance of 1651.44
- H4 time frame, 1st support at 1488.77
BTCUSD:
On the H4 chart, the overall bias for BTCUSD is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price has closed above the 1st support at 20440.00 where the 2 of the 50% Fibonacci lines are located. If this bullish momentum continues, expect price to head towards the 1st resistance at 21892.00, where the 78.6% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance 21892.00
- H4 time frame, 1st support at 20440.00
S&P 500:
On the H4 chart, the overall bias for S&P500 is bearish. However due to the weakening of the DXY, S&P500 had bullish momentum during the course of this week. Overnight, price has consolidated above the 1st support at 3811.03 where the 38.2% Fibonacci line is located. If this bullish momentum continues, expect price to possibly head towards the 1st resistance at 4016.04 where the 61.8% Fibonacci line and 23.6% Fibonacci projection line is located.
Areas of consideration:
- H4 time frame, 1st support at 3811.03
- H4 time frame, 1st resistance at 4016.04
