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Technical Outlook and Review

DXY:

On the H4, with RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry price to our 1st resistance at 105.620 where the 61.8% fibonacci projection and swing high resistance are after price rises to our 1st support at 104.718 in line with the horizontal overlap support. Alternatively, price may break 1st support structure and head for 2nd support at 103.954 where the horizontal pullback support and 61.8% fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance at 105.620
  • H4 time frame, 1st support at 104.718

XAU/USD (GOLD):

On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that prices will drop from our 1st resistance at 1856.84 where the horizontal swing high resistance and 100% fibonacci projection are to our 1st support at 1807.93 in line with swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1874.20 in line with swing high resistance and 78.6% fibonacci projection.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1856.84
  • H4 time frame, 1st Support at 1807.93

GBP/USD:

On the H4, with prices expected to bounce off the ichimoku support, we have a bullish bias that price will rise from our 1st support at 1.21846 where the horizontal overlap support,50% fibonacci retracement and 61.8% fibonacci projection to our 1st resistance at 1.24327 in line with the 61.8% fibonacci projection, 78.6% fibonacci retracement and pullback resistance. Alternatively, price may break 1st support structure and head for 2nd support at 1.19313 where the horizontal swing low support is.

Areas of consideration:

  • H4 1st resistance at 1.24327
  • H4 1st support at 1.21846

USD/CHF:

On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise from our 1st support at 0.96315 where the horizontal pullback support and 78.6% Fibonacci retracement is to our 1st resistance at 0.98879 in line with the horizontal pullback resistance and 61.8% Fibonacci retracement. Alternatively, price may break structure and head for 2nd support where the horizontal swing low support is.

Areas of consideration

  • 1st support level at 0.96315
  • 1st resistance level at 0.98879

EUR/USD :

On the H4, with price reaching the key support level at 1.05077, we have a bullish bias that price will rise from the 1st support at 1.05077 in line with the pullback support and 100% fibonacci projection to the 1st resistance at 1.07848 in line with the swing high, 100% fibonacci projection and 50% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 1.03603 in line with the multiple swing lows and 61.8% fibonacci projection.

Areas of consideration :

  • H4 1st resistance at 1.07848
  • H4 1st support at 1.05077

USD/JPY:

On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 135.536 in line with the pullback support to our 1st resistance at 138.846 where the 161.8% fibonacci extension and 78.6% fibonacci projection are . Alternatively, price may break 1st support structure and head for 2nd support at 131.607 in line with the swing low support,78.6% fibonacci projection and 50% fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance at 138.846
  • H4 time frame, 1st support at 135.536

AUD/USD:

On the H4, with price moving below the icihimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the 1st resistance at 0.69924 in line with the 61.8% fibonacci projection to the 1st support at 0.68502 at the horizontal swing low. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.70699 in line with the pullback resistance and 50% fibonacci retracement.

Areas of consideration

  • H4 1st resistance at 0.69924
  • H4 1st support at 0.6850

NZD/USD:

On the H4, with price moving within the ichimoku cloud and in a descending trendline, we have a bearish bias that price will drop from the 1st resistance at 0.63723 at the pullback resistance to the 1st support at 0.62022 at the horizontal swing low. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 0.64262 in line with the 61.8% Fibonacci projection and 61.8% Fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st support at 0.62022
  • H4 time frame, 1st resistance at 0.63723

USD/CAD:

On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will rise from our 1st resistance where the 50% Fibonacci retracement is to our 1st support at 1.28598 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may head for 2nd resistance where the horizontal swing high resistance and 161.8% Fibonacci projection is.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.30780
  • H4 time frame, 1st support at 1.28598

OIL:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will rise from our 1st resistance at 111.17 where the horizontal pullback resistance is to our 1stsupport at 103.71 in line with the horizontal swing low support. Alternatively, price may head for 2nd resistance where the horizontal pullback resistance and 50% Fibonacci retracement is. Take note that we are waiting for the break of 1st resistance to confirm the bearish continuation.

Areas of consideration:

  • H4 time frame, 1st resistance of 112.51
  • H4 time frame, 1st support of 103.71

Dow Jones Industrial Average:

On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise from our 1st support at 29748 where the 127.2% Fibonacci extension is to our 1st resistance at 30795 in line with the horizontal pullback support. Alternatively, price may break structure and head for 2nd support where the 161.8% Fibonacci extension is.

Areas of consideration :

  • H4 time frame, 1st resistance at 30795
  • H4 time frame, 1st support at 29748

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