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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 102.441 where the 78.6% Fibonacci retracement is to our 1st support at 101.790 in line with the horizontal pullback support, 161.8% Fibonacci extension, 61.8% Fibonacci projection and -61.8% Fibonacci expansion. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 100% Fibonacci projection.

Areas of consideration:

  • H4 time frame, 1st resistance at 102.441
  • H4 time frame, 1st support at 101.790

XAU/USD (GOLD):

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 at 1922 where the pullback resistance is from our 1st support at 1895 in line with the horizontal swing low support and 61.8% Fibonacci projection and 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support where the 161.8% Fibonacci extension and -27.2% Fibonacci expansion is at 1863.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1922
  • H4 time frame, 1st Support at 1895

GBP/USD:

On the H4, we have a bullish bias that price will rise from 1st support level of 1.25696 which lines up with -61.8% fibonacci expansion towards the 1st resistance level of 1.27677 which lines up with 61.8% fibonacci projection and 38.2% fibonacci retracement.

Areas of consideration:

  • H4 1st resistance at 1.27677
  • H4 1st support at 1.25696
  • H4 2nd support at 1.24566

USD/CHF:

On the H4, price is near to the key resistance level. We expect that price will potentially reverse from 1st resistance level of 0.96291 in line with 161.8% fibonacci extension towards the 1st support level of 0.94702 in line with 38.2% fibonacci retracement.

Areas of consideration

  • 1st support level at 0.94702
  • 1st resistance level at 0.96291
  • 2nd resistance level at 0.96741

EUR/USD :

On the H4, price is near the pivot level. We expect price to potentially rise from 1st support level of 1.06393 in line with 78.6% fibonacci retracement, -27.2% fibonacci expansion and 161.8% fibonacci extension towards the 1st resistance level of 1.08074 in line with 50% fibonacci retracement and 100% fibonacci projection.

Areas of consideration :

  • H4 1st resistance at 1.08074
  • H4 1st support at 1.06393
  • H4 2nd support at 1.05704

USD/JPY:

On the H4, with price moving below the ichimoku cloud indicator, we have a bearish bias that price will drop from our 1st resistance at 127.775 where the 38.2% Fibonacci retracement is to our 1st support at 126.325 in line with the horizontal pullback support and 61.8% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance is at 108.903.

Areas of consideration:

  • H4 time frame, 1st resistance at 128.331
  • H4 time frame, 1st support at 127.667

AUD/USD:

On the H4 timeframe, price is near the key support level, We see the potential of a bullish rise from 1st support level of 0.71190 in line with 78.6% fibonacci retracement and 100% fibonacci projection towards the 1st resistance level of 0.72476 in line with 38.2% fibonacci retracement and 100% fibonacci projection. Otherwise, price might break the key support level to trigger a dip towards the 2nd support of 0.70553 which is in line a previous horizontal swing low support.

Areas of consideration

  • H4 1st resistance at 0.72476
  • H4 1st support at 0.71190
  • H4 2nd support at 0.70553

NZD/USD:

On the H4, we see the potential of bullish bounce from 1st support level of 0.65612 in line up with 78.6% fibonacci projection towards the 1st resistance level of 0.66660 in line with 23.6% fibonacci retracement and 78.6% fibonacci projection.

Areas of consideration:

  • H4 time frame, 1st support at 0.65612
  • H4 time frame, 1st resistance at 0.66660
  • H4 time frame, 2nd support at 0.65296

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 1.28560 where the swing high resistance and 161.8% Fibonacci extension is from our 1st support at 1.27622 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support and 38.2% Fibonacci retracement is.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.28560
  • H4 time frame, 1st support at 1.27622

OIL:

On the H4, with price expected to reverse off the resistance of the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 104.72 where the swing high resistance and 61.8% Fibonacci retracement is to our 1st support at 96.41 in line with the horizontal swing low support and 78.6% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance at 108.80.

Areas of consideration:

  • H4 time frame, 1st resistance of 104.72
  • H4 time frame, 1st support of 96.41

Dow Jones Industrial Average:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 33354 where the horizontal overlap resistance is to our 1st support at 32689 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal overlap resistance and 38.2% Fibonacci retracement is at 34078.

Areas of consideration :

  • H4 time frame, 1st resistance at 33354
  • H4 time frame, 1st support at 32689

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