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Technical Outlook and Review

DXY:

On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to our 1st resistance at 103.902 where the horizontal swing high resistance, 127.2% fibonacci extension and 100% fibonacci projection are from our 1st support at 103.206 in line with the horizontal overlap support. Alternatively, price may break 1st support structure and head for 2nd support at 102.707 where the horizontal overlap support.

Areas of consideration:

  • H4 time frame, 1st resistance at 103.902
  • H4 time frame, 1st support at 103.206

XAU/USD (GOLD):

On the H4, with RSI moving along an ascending trendline, we have a bullish bias that price will rise from our 1st support at 1846.39 where the horizontal swing low support is to our 1st resistance at 1873.03 in line with swing high resistance, 61.8% fibonacci retracement and 38.2% fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 1830.10 in line with overlap support and 50% fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1873.03
  • H4 time frame, 1st Support at 1846.39

GBP/USD:

On the H4, with prices moving below the ichimoku indicator and within our descending channel, we have a bearish bias that price will drop from our 1st resistance at 1.25486 where the horizontal swing high resistance is to our 1st support at 1.23905 in line with the 50% Fibonacci retracement, 78.6% fibonacci retracement and overlap support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.26592 where the horizontal swing high resistance and 61.8% fibonacci projection are.

Areas of consideration:

  • H4 1st resistance at 1.25486
  • H4 1st support at 1.23905

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 at 0.98833 where the pullback resistance is from our 1st support at 0.97561 in line with the swing low support and 38.2% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 0.95548 where the swing low support and 61.8% fibonacci retracement are..

Areas of consideration

  • 1st support level at 0.97561
  • 1st resistance level at 0.98833

EUR/USD :

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the 1st resistance at 1.07630 at the multiple swing highs in line with the 78.6% fibonacci projection to the 1st support at 1.04577 in line with the 78.6% fibonacci retracement and swing low. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.09220 at the multiple swing highs in line with the 61.8% fibonacci retracement.

Areas of consideration :

  • H4 1st resistance at 1.07630
  • H4 1st support at 1.04577

USD/JPY:

On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 133.020 where the horizontal pullback support is to our 1st resistance at 136.449 in line with the 200% fibonacci extension and 100% fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 131.259 where the horizontal overlap support is.

Areas of consideration:

  • H4 time frame, 1st resistance at 136.449
  • H4 time frame, 1st support at 133.020

AUD/USD:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the 1st resistance at 0.72318 at the multiple swing highs in line with the 61.8% fibonacci retracement to the 1st support at 0.69583 at the swing low in line with the 78.6% fibonacci projection. Alternatively, price may reverse off 1st resistance and rise to the 2nd resistance at 0.74601 in line with the pullback resistance.

Areas of consideration

  • H4 1st resistance at 0.72318
  • H4 1st support at 0.69583

NZD/USD:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the 1st resistance at 0.64770 in line with the 61.8% fibonacci projection to the 1st support at 0.62918 in line with the 78.6% fibonacci retracement. Alternatively, price may bounce off the 1st resistance and rise to the 2nd resistance at 0.65641 in line with the multiple swing highs.

Areas of consideration:

  • H4 time frame, 1st support at 0.62918
  • H4 time frame, 1st resistance at 0.64770

USD/CAD:

On the H4, with price expected to reverse off the ichimoku cloud resistance, we have a bearish bias that price will drop to our 1st support at 1.26079 in line with the horizontal pullback support from our 1st resistance at 1.26841 where the pullback resistance, 50% fibonacci retracement are. Alternatively, price may break structure and head for our 2nd resistance at 1.27639 in line with overlap resistance and 61.8% fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.26841
  • H4 time frame, 1st support at 1.2607

OIL:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 121.15 where the horizontal pullback support is to our 1st resistance at 125.53 in line with the 78.6% fibonacci projection and 161.8% Fibonacci extension. Alternatively, price may break structure and head for 2nd support at 117.76.

Areas of consideration:

  • H4 time frame, 1st resistance of 125.53
  • H4 time frame, 1st support of 121.15

Dow Jones Industrial Average:

On the H4, with price breaking the ascending trend line on the RSI, we have a bearish bias that price will drop to our 1st support at 31876 in line with the horizontal pullback support and the 76.8% Fibonacci retracement and 61.8% Fibonacci projection from our 1st resistance at 32625 where the pullback resistance is. Alternatively, price may break structure and head for our 2nd resistance at 33313 in line with the horizontal swing high resistance.

Areas of consideration :

  • H4 time frame, 1st resistance at 32625
  • H4 time frame, 1st support at 31876

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