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Technical Outlook and Review

DXY:

On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop from our 1st resistance at 101.790 where the 127.2% Fibonacci extension and swing high resistance is to our 1st support at 100.609 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 161.8% Fibonacci extension is.

Areas of consideration:

  • H4 time frame, 1st resistance at 101.790
  • H4 time frame, 1st support at 100.609

XAU/USD (GOLD):

On the H4, with price moving below the ichimoku cloud, we are expecting price to potentially dip from 1st resistance level of 1941 which is line with 23.6% Fibonacci retracement, along with a graphical pullback resistance towards the 1st support level of 1916 in line with a horizontal swing low support and 61.8% Fibonacci retracement. Otherwise, price might break the 1st resistance level and head towards the 2nd resistance level of 1955 where the 38.2% Fibonacci retracement and swing high resistance is.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1941
  • H4 time frame, 1st Support at 1916

GBP/USD:

On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance of 1.29908 in line with the 61.8% Fibonacci retracement and horizontal pullback resistance from our 1st support of 1.27951 in line with the 78.6% Fibonacci projection. Alternatively, price may break 1st support and head for 2nd support at 1.26517 in line with the 100% Fibonacci projection.

Areas of consideration:

  • H4 1st resistance at 1.29908
  • H4 1st support at 1.27951

USD/CHF:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance of 0.95922 in line with the horizontal swing high resistance from our 1st support of 0.95282 in line with the 23.6% and 50% Fibonacci retracement. Alternatively, price may break 1st support and head for 2nd support at 0.94758 in line with the 38.2% Fibonacci retracement.

Areas of consideration

  • 1st support level at 0.95282
  • 1st resistance level at 0.95922

EUR/USD :

On the H4, price is near the pivot level. We expect price to potentially bounce from 1st support level of 1.07627 in line with 100% fibonacci projection and 138.2% fibonacci extension towards the 1st resistance level of 1.08482 in line with 23.6% fibonacci retracement and 61.8% fibonacci projection.

Areas of consideration :

  • H4 1st resistance at 1.08482
  • H4 2nd resistance at 1.09368
  • H4 1st support at 1.07627
  • H4 2nd support at 1.06395

USD/JPY:

On the H4, with price moving above the ichimoku cloud and approaching the support of the ascending trend line, we have a bullish bias that price will rise to our 1st resistance at 129.046 where the swing high resistance and 78.6% Fibonacci retracement is from our 1st support at 128.462 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 128.268 where the horizontal swing low support and 61.8% Fibonacci retracement is.

Areas of consideration:

  • H4 time frame, 1st resistance at 129.046
  • H4 time frame, 1st support at 128.462

AUD/USD:

On the H4 timeframe, price is near the key support level, We see the potential of a bullish bounce from 1st support level of 0.71677 in line with 100% fibonacci projection towards the 1st resistance level of 0.72823 in line with 38.2% fibonacci retracement and 78.6% fibonacci projection. Otherwise, price might break the key support level to trigger a dip towards the 2nd support of 0.70968 which is in line with 78.6% fibonacci retracement.

Areas of consideration

  • H4 1st resistance at 0.72823
  • H4 1st support at 0.71677
  • H4 2nd support at 0.70968

NZD/USD:

On the H4, we see the potential of bullish bounce from 1st support level of 0.65321 in line up with 161.8% fibonacci extension towards the 1st resistance level of 0.66505 in line with 23.6% fibonacci retracement and 61.8% fibonacci projection.

Areas of consideration:

  • H4 time frame, 1st support at 0.65321
  • H4 time frame, 1st resistance at 0.66505
  • H4 time frame, 2nd support at 0.64884

USD/CAD:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1.28509 where the swing high resistance is from our 1st support at 1.26763 in line with the horizontal pullback support and 23.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback support and 38.2% Fibonacci retracement is.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.28509
  • H4 time frame, 1st support at 1.26763

OIL:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 101.55 where the pullback resistance and 23.6% Fibonacci retracement is to our 1st support at 94.03 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback support and 61.8% Fibonacci retracement at 105.46.

Areas of consideration:

  • H4 time frame, 1st resistance of 101.55
  • H4 time frame, 1st support of 94.03

Dow Jones Industrial Average:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 34078 where the overlap resistance is from our 1st support at 33354 in line with the horizontal pullback support and 61.8% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is at 32670.

Areas of consideration :

  • H4 time frame, 1st resistance at 34078
  • H4 time frame, 1st support at 33354

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