USD/JPY:
The current general bias for USDJPY on the H4 chart is bullish. Overnight, USDJPY had some bearish momentum downwards. Price is currently trading above the support at 147.710 at time of writing. If this bullish momentum continues, expect USDJPY to head upwards and retest the 1st resistance at 149.343 where the 161.8% Fibonacci extension line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 149.343
- H4 time frame, 1st support at 147.410
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 bullish momentum upwards with the price currently trading at 111.377 at time of writing. If this bearish momentum continues, expect price to possibly head towards the 2nd support at 109.340, where the 78.6% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 112.572
- H4 time frame, 1st support at 110.459
EUR/USD:
On the H4, with the price dropping back to the long term descending trendline, the price may break the 1st support at 0.98810, which is in line with the 38.2% fibonacci retracement and overlap support. If the 1st support is broken, the price may drop to the 2nd support at 0.97528, where the 61.8% fibonacci retracement and overlap support are. Alternatively, as the price is still above ichimoku cloud, we can expect the price bounce off from the 1st support and rise to the 1st resistance at 1.00914, which is in line with the previous swing high.
Areas of consideration :
- H4 1st support at 0.98810
- H4 2nd support at 0.97528
GBP/USD:
On the H4, price is above the ichimoku cloud and breaking the descending trendline, we have a bullish bias that the price may test the 1st resistance at 1.16409, which is in line with the previous swing high. If the 1st resistance is broken, the 2nd resistance is at 1.18641, where the 78.6% fibonacci retracement sits. Alternatively, the price may drop to the 1st support at 1.12730, where the swing low support is.
Areas of consideration:
- H4 current price
- H4 1st resistance at 1.16409
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, USDCHF had some bullish momentum upwards with price currently trading at 1.00045 at time of writing. Expecting price to possibly head back up to retest the 1st resistance line at 1.00678 where the 78.6% Fibonacci line is located.
Areas of consideration
- H4 1st support at 0.99250
- H4 2nd support at 0.98532
- H4 1st resistance at 1.00678
XAU/USD (GOLD):
On H4, with the price within the descending channel and crossing ichimoku cloud, we have a bearish bias that the price may drop to the 1st support at 1616.659, where the previous swing lows are. Alternatively, the price may rise to retest the 1st resistance at 1658.958, which is in line with the 61.8% fibonacci retracement and overlap resistance. If the 1st resistance is broken, the 2nd resistance is at 1681.011, where the previous swing highs are
Areas of consideration:
- H4 time frame, 1st support at 1616.659
- H4 time frame, 1st resistance at 1658.958
AUD/USD:
On the H4, with the price breaking the descending channel and above ichimoku cloud, we have a bullish bias that the price may retest the 1st resistance at 0.65190, which is in line with the overlap resistance, if the 1st resistance is broken, the 2nd resistance is at 0.66748, where the 50% fibonacci retracement is. Alternatively, the price may drop to the 1st support at 0.63414, 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 is.
Areas of consideration
- H4, 1st resistance at 0.65190
- H4, 1st support at 0.63414
NZD/USD:
On the H4 chart, as the price is breaking the descending trendline, moving within the ascending channel and the price is above ichimoku cloud, we have a bullish bias that the price may rise to the 1st resistance at 0.58730, which is in line with the previous swing high and 38.2% fibonacci retracement. If the 1st resistance is broken, the 2nd resistance is at 0.59963, where the 50% fibonacci retracement is. Alternatively, the price may drop to the 1st support at 0.57871, where the previous swing lows and 50% fibonacci retracement are.
Areas of consideration:
- H4 time frame, 1st resistance at 0.58730
- H4 time frame, 2nd 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 reflected off the 1st resistance at 1.36751 where the 0% fibonacci line is located. If this bearish momentum continues, the price to head towards the 1st support at 1.35040 where the previous swing low and 61.8% Fibonacci projection line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 1.36751
- H4 time frame, 1st support at 1.35029
- H4 time frame, 2nd support at 1.34675
OIL:
Looking at the H4 chart, the current overall bias for Oil is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price reflected off the 1st support line at 93.381 where the 78.6% and 38.2% Fibonacci lines are located. If this bullish momentum continues, expect price to possibly break above the 1st resistance at 96.538 where the 100% and 23.6% Fibonacci lines are and head towards the 2nd resistance at 99.439 where previous swing high and 0% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 93.381
- H4 time frame, 2nd resistance at 99.439
- 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, DXY consolidated around the area of 32741.25. If this bullish momentum continues, expect the price to possibly head towards the 1st resistance at 34293.93 where the previous swing high and 100% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st support at 31896.61
- H4 time frame, 1st Resistance at 34293.93
DAX:
On the H4 chart, the price has now closed above the Ichimoku cloud which indicates a breakout of a descending trendline. 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, 1st resistance at 13490.91
- H4 time frame, 2nd resistance at 14717.44
ETHUSD:
Looking at the H4 chart, the current overall bias for ETHUSD is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price had bearish momentum downwards with the price currently resting on the 1st support level at 1561.62 where 2 of the 61.8% Fibonacci lines are located. If this bullish momentum continues, expect the price to head towards the 1st resistance at 1792.55 where the previous swing high and 100% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance of 1792.55
- H4 time frame, 1st support at 1561.62
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 retraced downwards and is currently resting on the 1st support at 20440.00 where the 2 of the 50% Fibonacci lines are located. If this bullish momentum continues, expect the 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 bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price continued to consolidate with price currently trading at 3871.97 at time of writing. 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 3805.83
- H4 time frame, 1st resistance at 4016.04
