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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 105.017 where the horizontal swing high resistance and 127.2% fibonacci extension are from our 1st support at 103.206 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support at 103.159 where the horizontal overlap support.

Areas of consideration:

  • H4 time frame, 1st resistance at 105.017
  • H4 time frame, 1st support at 103.206

XAU/USD (GOLD):

On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that prices will rise from our 1st support at 1864.09 where the horizontal pullback support is to our 1st resistance at 1891.77 in line with overlap resistance and 50% fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 1843.17 in line with pullback support and 38.2% fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1891.77
  • H4 time frame, 1st Support at 1864.09

GBP/USD:

On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 1.23903 where the horizontal overlap resistance is to our 1st support at 1.21663 in line with the 78.6% fibonacci projection and swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.24625 where the horizontal overlap resistance is.

Areas of consideration:

  • H4 1st resistance at 1.23903
  • H4 1st support at 1.21663

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 1.00556 where the horizontal swing high resistance and 61.8% Fibonacci retracement is from our 1st support at 0.98059 in line with the horizontal pullback support is. Alternatively, price may break structure and head for 2nd support where the horizontal pullback support is..

Areas of consideration

  • 1st support level at 0.98059
  • 1st resistance level at 1.00556

EUR/USD :

On the H4. with price moving below the ichimoku cloud, we have a bearish bias that price will continue to drop from our 1st resistance at 1.06369 in line with the 38.2% fibonacci retracement, pullback resistance and 78.6% fibonacci projection to the 1st support at 1.03593 in line with the 78.6% fibonacci projection and horizontal swing low. Alternatively, price may reverse to the 1st resistance and rise to the 2nd resistance at 1.07871 in line with the swing high.

Areas of consideration :

  • H4 1st resistance at 1.06369
  • H4 1st support at 1.03593

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 133.638 where the horizontal swing low support is to our 1st resistance at 136.314 in line with the 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 136.314
  • 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 continue to drop from the 1st resistance at 0.72318 in line with the 61.85 fibonacci retracement to the 1st support at 0.6881 in line with the 100% fibonacci projection. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.73491 at the pullback resistance,

Areas of consideration

  • H4 1st resistance at 0.72318
  • H4 1st support at 0.6881

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 0.64228 in line with the overlap resistance and 78.6% fibonacci projection, to the 1st support at 0.62916 in line with the 78.6% fibonacci projection. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.65641 in line with the 50% fibnonacci retracement.

Areas of consideration:

  • H4 time frame, 1st support at 0.62916
  • H4 time frame, 1st resistance at 0.64228

USD/CAD:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 1.27639 where the horizontal pullback support is to our 1st resistance at 1.28896 in line with the 61.8% fibonacci retracement and horizontal swing high resistance. Alternatively, price may break structure and head for 2nd support where the horizontal pullback support is.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.28896
  • H4 time frame, 1st support at 1.27639

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 117.76 where the horizontal pullback support is to our 1st resistance at 123.12 in line with the 127.2% fibonacci extension. Alternatively, price may break structure and head for 2nd support at 112.21.

Areas of consideration:

  • H4 time frame, 1st resistance of 123.12
  • H4 time frame, 1st support of 117.76

Dow Jones Industrial Average:

On the H4, with moving below our ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 30537 in line with the horizontal swing low support and the 61.8% Fibonacci projection from our 1st resistance at 32589 where the pullback resistance is. Alternatively, price may break structure and head for our 2nd resistance at 33499 in line with the horizontal swing high resistance.

Areas of consideration :

  • H4 time frame, 1st resistance at 32589
  • H4 time frame, 1st support at 30537

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