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, USDJPY continued its bearish momentum with the price currently resting on the 1st support line. Price is currently trading at 145.603 at time of writing. If the bearish momentum continues, expect USDJPY to break the 1st support line at 145.471, where the 100% and 0% Fibonacci lines are located and head towards the 2nd support line at 143.551 where the 38.2% and 100% Fibonacci lines are located. In an alternative scenario, price could break above the 1st resistance and head towards the 2nd resistance at 149.393 where the 161.8% and 0% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance at 147.410
- H4 time frame, 1st resistance at 149.393
- H4 time frame, 1st support at 145.471
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, price continued its bearish momentum downwards with price closing under the 1st resistance at 110.459 where the 61.8% and 23.6% Fibonacci lines are located and just right above where the 1st support is. The price is currently trading at 109.664 at the time of writing. If this bearish momentum continues, price could head towards the 1st support line at 109.348 where the 78.6% Fibonacci line and previous low are located. In an alternative scenario, price could head back up to retest the 1st resistance line.
Areas of consideration:
- H4 time frame, 1st resistance at 110.459
- H4 time frame, 1st support at 109.348
EUR/USD:
On H4, with the price moving above the ichimoku cloud and ascending trendline, we have a bullish bias that the price may rise to the 1st resistance at 1.00928, which is in line with the swing highs. If the 1st resistance is broken, the 2nd resistance is at 1.01908, where the previous swing highs are. Alternatively, the price may drop to the 1st support at 1.00150, where the 23.6% fibonacci retracement is. If the 1st support is broken, the 2nd support is at 0.98754, where the 61.8% fibonacci retracement sits.
Areas of consideration :
- H4 1st resistance at 1.00928
- H4 2nd resistance is 1.01908
GBP/USD:
On the H4, price is crossing the ichimoku cloud and stoch is rising to test the resistance level, we have a bullish bias that the price may rise to test the 1st resistance at 1.16518, which is in line with the previous swing high to the 2nd resistance at 1.18521, where the 78.6% fibonacci retracement is. Alternatively, the price may drop to the 1st support at 1.13966, where the 38.2% fibonacci retracement is, if the 1st support is broken, the 2nd support is at 1.11688, which is in line with the previous swing low and 38.2% fibonacci retracement.
Areas of consideration:
- H4 1st resistance at 1.16518
- H4 2nd resistance at 1.18521
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 resting just above the 1st support line . The price is currently trading at 0.98604 at the time of writing. If this bearish momentum continues, expect price to head towards the 1st support line at 0.98546, where the 127.2% Fibonacci extension line, 100% Fibonacci line and previous swing low are located. In an alternative scenario, price could head back up to retest the 1st resistance line.
Areas of consideration
- H4 1st support at 0.98546
- H4 1st resistance at 0.99535
XAU/USD (GOLD):
On H4, with the price breaking the descending channel and above the ichimoku cloud, we can expect the price rise to the 1st resistance at 1727.771, which is in line with the previous swing high, if the 1st resistance is broken, the 2nd resistance is at 1765.483, where the 78.6% fibonacci retracement is. Alternatively, the price may drop to the 1st support at 1679.668, where the 38.2% fibonacci retracement is. If the 1st support is broken, the 2nd support is at 1617.326, where the swing lows are.
Areas of consideration:
- H4 time frame, 1st resistance at 1727.771
- H4 time frame, 2nd resistance is at 1765.483
AUD/USD:
On the H4, with the price crossing the ichimoku cloud and moving above the ascending trendline, we can expect the price to break the 1st resistance at 0.65530, which is in line with the swing highs and 78.6% fibonacci projection. If the 1st resistance is broken, the 2nd resistance is at 0.66544, where the 100% fibonacci projection, 50% fibonacci retracement and 141.4% fibonacci extension are. Alternatively, the price may drop from the 1st resistance to the 1st support at 0.64132, where the 50% fibonacci retracement and previous swing low are. If the 1st support is broken, the 2nd support is at 0.62748, where the swing lows are.
Areas of consideration
- H4, 1st resistance at 0.65530
- H4, 2nd resistance at 0.66544
NZD/USD:
On the H4 chart, as the price is moving above ichimoku cloud and ascending channel, the price may rise to the 1st resistance at 0.59997, which is in line with the swing high and 127.2% fibonacci extension. As the MACD is showing a death cross, the price may drop form the 1st resistance and test the 1st support at 0.58995, which is in line with the 38.2% fibonacci retracement. If the 1st support is broken, the 2nd support is at 0.57426, where the swing low and 50% fibonacci retracement are.
Areas of consideration:
- H4 time frame, 1st resistance at 0.59997
- H4 time frame, 1st support at 0.58632
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, the price continued its bearish momentum downwards with price closing under the 1st resistance line at 1.34675 where the 78.6% Fibonacci projection line and previous low is located.. The price is currently trading at 1.34384 at the time of writing. If this bearish momentum continues, expect the price to head back down towards the 1st support line at 1.33578 where the -27.2% Fibonacci expansion line and 141.4% Fibonacci line is located. In an alternative scenario, price could head back up to retest the 1st resistance line.
Areas of consideration:
- H4 time frame, 1st resistance at 1.34675
- H4 time frame, 1st support at 1.33578
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 had bearish momentum downwards with the price currently resting on the 1st support line at 96.013 where the 23.6% and 100% Fibonacci lines are located. The price is currently trading at 96.333 at the time of writing. If this bullish momentum continues, expect price to possibly head back up towards the 1st resistance at 99.439 where previous swing high and 0% Fibonacci line is located. In an alternative scenario, price could head back down to break the 1st support level before heading towards the 2nd support level at 93.381 where the 38.2% and 78.6% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance at 99.439
- H4 time frame, 1st support at 96.013
- H4 time frame, 2nd 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 continued its bullish momentum upwards. The price is currently trading at 33175.71 at time of writing. If this bullish momentum continues, expect the price to possibly head towards the 1st resistance at 34106.01 where the previous high and 100% Fibonacci line is located. In an alternative scenario, price could head towards the 1st support line at 32135.41, where the 61.8% and 50% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st support at 32135.41
- H4 time frame, 1st Resistance at 34106.01
DAX:
On the H4 chart, the price breaks a descending trendline. Expecting price to possibly continue this bullish momentum and rise to the 1st resistance is at 13995.84, where 127.2% fibonacci extension sits. Alternatively, the price may drop to the 1st support at 13033.87, which is in line with the previous swing low, if the 1st support is broken, the 2nd support is at 12548.42, which is in line with the 61.8% fibonacci retracement.
Areas of consideration:
- H4 time frame, current price
- H4 time frame, 1st resistance is at 13995.84
ETHUSD:
Looking at the H4 chart, the current overall bias for ETHUSD is bearish, with price currently under the Ichimoku cloud indicating a bearish market. Overnight, prices had huge bearish momentum downward. The price is currently trading at 1317.43 at the time of writing. If this bearish momentum continues, expect the price to head towards the 1st support line at 1220.00 where the previous low and 100% Fibonacci line is located. In an alternative scenario, price could head back up to retest the 1st resistance line at 1385.07 where the 23.6% and 61.8% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance of 1385.07
- H4 time frame, 1st support at 1220.00
BTCUSD:
On the H4 chart, the overall bias for BTCUSD is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Overnight, price continued its huge downwards bearish momentum with price currently resting on the 1st support line. Price is currently trading at 18357.00 at time of writing. If this bearish momentum continues, expect the price to break the 1st support line at 18268.35 where the previous low is located. In an alternative scenario, price could retrace back up to retest the 1st resistance line at 19023.00, where the 23.6% and 78.6% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance 19023.00
- H4 time frame, 1st support at 18268.35
S&P 500:
On the H4 chart, the overall bias for S&P500 is bullish with price currently crossing above the Ichimoku cloud. Overnight, price had bullish momentum with the price closing above the 1st support at 3805.83 where the 38.2% Fibonacci line is located. The price is currently trading at 3828.10 at time of writing. If bullish momentum continues, expect price to head towards the 1st resistance line at 4016.04, where the 23.6% Fibonacci projection line and 61.8% Fibonacci line is located. In an alternative scenario, price could possibly head back down and break the 1st support line and head towards the 2nd support line at 3636.87 where the previous swing low and 78.6% Fibonacci projection line is located.
Areas of consideration:
- H4 time frame, 1st support at 3805.83
- H4 time frame, 2nd support at 3636.87
- H4 time frame, 1st resistance at 3805.83
