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Technical Outlook and Review

DXY:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 103.706 where the swing high resistance is from our 1st support at 102.900 in line with the 23.6% and 78.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the 127.2% Fibonacci extension and 100% Fibonacci projection is is.

Areas of consideration:

  • H4 time frame, 1st resistance at 103.706
  • H4 time frame, 1st support at 102.900

XAU/USD (GOLD):

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 1874 where the 38.2% Fibonacci retracement and pullback resistance is to our 1st support at 1849 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance is.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1874
  • H4 time frame, 1st Support at 1849

GBP/USD:

On the weekly, we expect price to potentially bounce from 1st support level of 1.23627 in line with 61.8% fibonacci retracement towards the 1st resistance level of 1.33634 in line with 50% fibonacci retracement.

On the daily, we expect price to potentially bounce from 1st support level of 1.24385 in line with 61.8% fibonacci retracement towards the 1st resistance level of 1.34739 in line with 78.6% fibonacci retracement.

On the H4, we have a bullish bias that price will bounce from 1st support level of 1.24099 which lines up with a major 61.8% fibonacci retracement towards the 1st resistance level of 1.28160 which lines up with 61.8% fibonacci retracement.

Areas of consideration:

  • H4 1st resistance at 1.28160
  • H4 1st support at 1.24099
  • H4 2nd support at 1.22589

USD/CHF:

On the H4, we expect that price will potentially reverse from 1st resistance level of 0.97986 in line with a major 127.2% fibonacci extension towards the 1st support level of 0.96723 in line with 23.6% fibonacci retracement. Alternatively, price may head for 2nd resistance at our daily resistance.

Areas of consideration

  • 1st support level at 0.96723
  • 1st resistance level at 0.97986

EUR/USD :

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 1.05826 where the 23.6% Fibonacci retracement is to our 1st support at 1.04814 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 127.2% Fibonacci extension is.

Areas of consideration :

  • H4 1st resistance at 1.05826
  • H4 1st support at 1.04814

USD/JPY:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 131.240 where the swing high resistance is from our 1st support at 129.374 in line with the horizontal pullback support and 50% and 78.6 Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.

Areas of consideration:

  • H4 time frame, 1st resistance at 131.240
  • H4 time frame, 1st support at 129.374

AUD/USD:

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

Areas of consideration

  • H4 1st resistance at 0.71213
  • H4 1st support at 0.70348

NZD/USD:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance where the 50% Fibonacci retracement is to our 1st support in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance and 78.6% Fibonacci retracement is.

Areas of consideration:

  • H4 time frame, 1st support at 0.64197
  • H4 time frame, 1st resistance at 0.65324

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 1.29023 where the swing high resistance is from our 1st support at 1.27783 in line with the horizontal pullback support, 61.8% and 78.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.29023
  • H4 time frame, 1st support at 1.27783

OIL:

On the Weekly, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the swing high resistance is from our 1st support 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 is.

Areas of consideration:

  • H4 time frame, 1st resistance of 106.99
  • H4 time frame, 1st support of 101.15

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 33114 where the pullback resistance and 23.6% Fibonacci retracement is to our 1st support at 32559 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance and 38.2% Fibonacci retracement.

Areas of consideration :

  • H4 time frame, 1st resistance at 33114
  • H4 time frame, 1st support at 32559

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