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. Towards the end of last week, USDJPY had huge bearish momentum due to the release of the US CPI being worse than last month and expected. Price is currently trading at 139.184 at time of writing. If the bearish momentum continues, expect USDJPY to break the 1st support line at 138.852 where the -27.2% Fibonacci expansion line is located and head towards the 2nd support line at 135.554 where the 78.6% Fibonacci line is located. In an alternative scenario, price could go back up to retest the 1st resistance at 140.356, where the -61.8% Fibonacci expansion line and previous low are located.
Areas of consideration:
- H4 time frame, 1st resistance at 140.356
- H4 time frame, 1st support at 138.852
- H4 time frame, 2nd support at 135.554
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. Towards the end of last week, price had huge bearish momentum due to the release of the US CPI being worse than last month and expected. The price is currently trading at 106.694 at the time of writing. If this bearish momentum continues, price could break the 1st support line at 106.396 where the 38.2% fibonacci line is located, before heading towards the 2nd support at 104.815 where the previous low and the 0% Fibonacci line are located. In an alternative scenario, price could head back up and retest the 1st resistance line at 107.682, where the previous low and 100% Fibonacci line are located.
Areas of consideration:
- H4 time frame, 1st resistance at 107.682
- H4 time frame, 1st support at 106.396
- H4 time frame, 2nd support at 104.815
EUR/USD:
On H4, with the price moving above the ichimoku cloud, we have a bullish bias that the price may rise to the 1st resistance at 1.03686, which is in line with the swing high and 0% fibonacci extension. If the 1st resistance is broken, the 2nd resistance is at 1.06014, where the previous swing high is. Alternatively, the price may drop to the 1st support at 1.00937, which is in line with the 38.2% fibonacci retracement.
Areas of consideration :
- H4 1st resistance at 1.03686
- H4 1st support at 1.00937
GBP/USD:
On the H4, price is moving above ichimoku cloud, we have a bullish bias that the price may rise to the 1st resistance at 1.19008, which is in line with the 78.6% fibonacci and the previous swing high. Alternatively, the price may drop to retest the 1st support at 1.17381, where the previous swing high is.
Areas of consideration:
- H4 1st resistance at 1.19008
- H4 1st support at 1.17381
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. If this bearish momentum continues, expect price to head towards the 1st support line at 0.93706, where the previous low is located. In an alternative scenario, price could head back up to retest the 1st resistance line at 0.94810, where the 78.6% Fibonacci line is located. If the 1st resistance line is broken, the 2nd resistance line is located at 0.96302, where the 78.6% Fibonacci line is.
Areas of consideration
- H4 1st support at 0.93706
- H4 1st resistance at 0.94810
- H4 2nd resistance at 0.96302
XAU/USD (GOLD):
On H4, with the price breaking the descending channel and above the ichimoku cloud, we can expect the price rise break the 1st resistance at 1765.050, which is in line with the previous swing high and 78.6% fibonacci retracement, if the 1st resistance is broken, the 2nd resistance is at 1802.641, where the previous swing high is. Alternatively, the price may drop to the 1st support at 1727.850, where the 23.6% fibonacci retracement is.
Areas of consideration:
- H4 time frame, 1st resistance at 1765.483
- H4 time frame, 1st support at 1727.850
AUD/USD:
On the H4, with the price moving above the ichimoku cloud, we have a bullish bias that the price may rise to the 1st resistance at 0.67711, which is in line with the 161.8% fibonacci line. If the 1st resistance is broken, the 2nd resistance should be at 0.69161, where the previous swing high is. Alternatively, the price may drop to the 1st support at 0.65398, where the 38.2% Fibonacci line is located.
Areas of consideration
- H4, 1st resistance at 0.67711
- H4, 1st support at 0.65398
NZD/USD:
On the H4 chart, the price is moving above the Ichimoku cloud and has broken out of the ascending channel. Towards the end of last week, price had bullish momentum due to the release of the US CPI being worse than last month and expected. The price is currently trading at 0.60982 at the time of writing. If this bullish momentum continues, the price may head towards the 1st resistance at 0.61565, which is in line with the previous swing high and 0% fibonacci line. Alternatively, the price may head back towards the 1st support at 0.59998, where the 61.8% Fibonacci projection line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 0.61565
- H4 time frame, 1st support at 0.59998
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. Towards the end of last week, price had huge bearish momentum due to the release of the US CPI being worse than last month and expected. The price is currently trading at 1.32624 at the time of writing. If this bearish momentum continues, expect the price to head down towards the 1st support line at 1.32081, where the 78.6% Fibonacci line is located.. In an alternative scenario, price could head back up breaking the 1st resistance line at 1.33578, where the -27.2% Fibonacci expansion line and 141.4% Fibonacci line are located.
Areas of consideration:
- H4 time frame, 1st resistance at 1.33578
- H4 time frame, 1st support at 1.32081
OIL:
Looking at the H4 chart, the current overall bias for Oil is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. Towards the end of last week, price had bullish momentum due to the release of the US CPI being worse than last month and expected. The price is currently trading at 97.080 at the time of writing. If this bearish momentum continues, expect price to retest the 1st support level at 96.013 where the 23.6% and 0% Fibonacci lines are located. In an alternative scenario, price could head towards the 1st resistance level at 99.439 where the 100% Fibonacci line and previous high 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. 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% Fibonacci line is 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 has broken the descending trendline. Expecting price to possibly continue this bullish momentum and rise to the 1st resistance is at 14709, where previous swing high sits. Alternatively, the price may drop to the 1st support at 13941, which is in line with the 20% Fibonacci line.
Areas of consideration:
- H4 time frame, 1st resistance is at 14709
- H4 time frame, 1st support is at 13941
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. Towards the end of last week, the price had huge bullish momentum due to the release of the US CPI being worse than last month and expected. The price is currently trading at 1192.53 at the time of writing. If this bearish momentum continues, expect the price to break the 1st support line at 1190.61 where the previous low and 100% Fibonacci line was located and head towards the 2nd support at 1064.49 where the -27.2% Fibonacci expansion line and 127.2% Fibonacci extension line are 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 1190.61
- H4 time frame, 2nd support at 1064.49
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. Towards the end of last week,price had huge bullish momentum due to the release of the US CPI being worse than last month and expected with price currently under the 1st resistance line at 18173.33, where the previous low and 0% Fibonacci line is located. Price is currently trading at 16139.00 at time of writing. If this bearish momentum continues, expect the price to head towards the 1st support line at 15525.96, where the 127.2% Fibonacci extension line and -61.8% Fibonacci expansion 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 18173.33
- H4 time frame, 1st support at 15525.96
S&P 500:
On the H4 chart, the overall bias for S&P500 is bullish with price above the Ichimoku cloud. If bullish momentum continues, expect the price to head up towards the 1st resistance line at 4011.74 where the 61.8% Fibonacci line is located. If this 1st resistance line is broken, the 2nd resistance line is at 4119.28, where the previous swing high and 78.6% Fibonacci line is located. In an alternative scenario, price could possibly head back down towards the 1st support line at 3805.83 where the 38.2% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st support at 3805.83
- H4 time frame, 1st resistance at 4011.74
- H4 time frame, 2nd resistance at 4119.28
