USD/JPY:
The current general bias for USDJPY on the H4 chart is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If the bearish momentum continues, expect USDJPY to break the 1st support line at 138.852 where the -27.2% Fibonacci expansion line is located and head towards the 2nd support line at 135.554 where the 78.6% Fibonacci line is located. In an alternative scenario, price could go back up to break the 1st resistance at 140.356, where the -61.8% Fibonacci expansion line and previous low are located before heading towards the 2nd resistance line at 143.512 where the -27.2% Fibonacci expansion line and 50% Fibonacci line are located.
Areas of consideration:
- H4 time frame, 1st resistance at 140.356
- H4 time frame, 2nd resistance at 143.512
- H4 time frame, 1st support at 138.852
- H4 time frame, 2nd support at 135.554
DXY:
On the H4 chart, the overall bias for DXY is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, price could break the 1st support line at 106.396 where the 38.2% fibonacci line is located, before heading towards the 2nd support at 104.815 where the previous low and the 0% Fibonacci line are located. In an alternative scenario, price could head back up and retest the 1st resistance line at 107.682, where the previous low and 100% Fibonacci line are located.
Areas of consideration:
- H4 time frame, 1st resistance at 107.682
- H4 time frame, 1st support at 106.396
- H4 time frame, 2nd support at 104.815
EUR/USD:
On H4, with the price moving above the ichimoku cloud, we have a bullish bias that the price may head towards the first resistance level at 1.06014, the previous swing high is. Alternatively, the price could break the first support level at 1.03686, which corresponds to the previous swing high and the 0% fibonacci extension, before heading towards the 2nd support at 1.00937 where the 50% Fibonacci lies.
Areas of consideration :
- H4 1st resistance at 1.06014
- H4 1st support at 1.03686
- H4 2nd support at 1.00937
GBP/USD:
On the H4, the price is moving above the ichimoku cloud, suggesting that the price may break the first resistance level at 1.19008, which corresponds to the 78.6% fibonacci and the previous swing high, before heading to the 2nd resistance line at 1.22770, where the previous swing high is. Alternatively, the price may break the first support level at 1.17381, which is the previous swing high, before moving on to the second support level at 1.13497, which is the 61.8% Fibonacci line.
Areas of consideration:
- H4 1st resistance at 1.19008
- H4 2nd resistance at 1.22770
- H4 1st support at 1.17381
USD/CHF:
The overall bias for USDCHF on the H4 chart is bearish. In addition, the price is below the Ichimoku cloud, indicating a bearish market. If the current bearish trend continues, the price might move back down to retest the first support line at 0.93706, where the previous low was located. In an alternate scenario, price could rise to retest the first resistance line at 0.94810, which is also the 78.6% Fibonacci line. If the first resistance line is broken, the second resistance line is at 0.96302, which is the 78.6% Fibonacci line.
Areas of consideration
- H4 1st support at 0.93706
- H4 1st resistance at 0.94810
- H4 2nd resistance at 0.96302
XAU/USD (GOLD):
On H4, with the price breaking the descending channel and above the ichimoku cloud, we can expect the price to rise towards the 1st resistance at 1802.641, where the previous swing high is. Alternatively, the price may break the 1st support at 1765.050, which is in line with the 78.6% fibonacci line, before heading towards the 2nd support at 1727.850, where the 61.8% Fibonacci line is.
Areas of consideration:
- H4 time frame, 1st resistance at 1765.483
- H4 time frame, 1st support at 1765.050
- H4 time frame, 2nd support at 1727.850
AUD/USD:
With the price moving above the ichimoku cloud on the H4, we have a bullish bias that the price may break the first resistance at 0.67711, which is in line with the 61.8% fibonacci line, before heading towards the 2nd resistance line at 0.69161, the previous swing high. Alternatively, the price could fall to the first support level at 0.65398, which is marked by the 50% Fibonacci line.
Areas of consideration
- H4, 1st resistance at 0.67711
- H4, 2nd resistance at 0.69161
- H4, 1st support at 0.65398
NZD/USD:
On the H4 chart, the price is moving above the Ichimoku cloud and has broken out of the ascending channel. If this bullish momentum continues, the price may break the 1st resistance at 0.61565, which is in line with the previous swing high and 0% fibonacci line, before heading towards the 2nd resistance line at 0.62504, where the 78.6% Fibonacci line is. Alternatively, the price may head back towards the 1st support at 0.59998, where the 61.8% Fibonacci projection line is located.
Areas of consideration:
- H4 time frame, 1st resistance at 0.61565
- H4 time frame, 1st support at 0.59998
USD/CAD:
On the H4 chart, the overall bias for USDCAD is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect the price to head down towards the 1st support line at 1.32081, where the 78.6% Fibonacci line is located. In an alternative scenario, price could head back up breaking the 1st resistance line at 1.33578, where the -27.2% Fibonacci expansion line and 141.4% Fibonacci line are located, before heading towards the 2nd resistance at 1.34675 where the 50% Fibonacci line and 78.6% Fibonacci projection line is.
Areas of consideration:
- H4 time frame, 1st resistance at 1.33578
- H4 time frame, 2nd resistance at 1.34675
- H4 time frame, 1st support at 1.32081
OIL:
Looking at the H4 chart, the current overall bias for Oil is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to head towards the 1st support at 89.452 where the previous swing low lies. In an alternative scenario, price might head back up to retest the 1st resistance line at 93.106, where the 61.8% Fibonacci line and previous low are.
Areas of consideration:
- H4 time frame, 1st resistance at 93.106
- H4 time frame, 1st support at 89.452
- H4 time frame, 2nd support at 89.452
Dow Jones Industrial Average:
On the H4 chart, the overall bias for DJI is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect the price to possibly head towards the 1st resistance at 34106.01 where the previous high and 100% Fibonacci line is located. In an alternative scenario, price could head towards the 1st support line at 32135.41, where the 61.8% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st support at 32135.41
- H4 time frame, 1st Resistance at 34106.01
DAX:
The H4 chart shows a bullish bias, with price breaking through the descending trendline and rising above the Ichimoku cloud. Price is expected to maintain its bullish momentum and rise to the first resistance level at 14709, where the previous swing high is located. Alternatively, the price could fall to the first support level at 13941, which corresponds to the 20% Fibonacci line.
Areas of consideration:
- H4 time frame, 1st resistance is at 14709
- H4 time frame, 1st support is at 13941
ETHUSD:
Looking at the H4 chart, the current overall bias for ETHUSD is bearish, with price currently under the Ichimoku cloud indicating a bearish market. If this bearish momentum continues, expect the price to break the 1st support line at 1190.61 where the previous low and 100% Fibonacci line was located and head towards the 2nd support at 1064.49 where the -27.2% Fibonacci expansion line and 127.2% Fibonacci extension line are located. In an alternative scenario, price could head back up to retest the 1st resistance line at 1385.07, where the 23.6% and 61.8% Fibonacci lines are located.
Areas of consideration:
- H4 time frame, 1st resistance of 1385.07
- H4 time frame, 1st support at 1190.61
- H4 time frame, 2nd support at 1064.44
BTCUSD:
On the H4 chart, the overall bias for BTCUSD is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect the price to head towards the 1st support line at 15525.96, where the 127.2% Fibonacci extension line and -61.8% Fibonacci expansion line is located. In an alternative scenario, price could head back up to retest the 1st resistance line at 18173.33, where the previous low and 0% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st resistance 18173.33
- H4 time frame, 1st support at 15525.96
S&P 500:
The overall bias for the S&500 on the H4 chart is bullish, with prices above the Ichimoku cloud. If the bullish momentum continues, the price will rise to the first resistance line at 4011.74, where the 61.8% Fibonacci line is located. If the first resistance line is broken, the second resistance line is at 4119.28, which is the previous swing high and the 78.6% Fibonacci line. In an alternate scenario, price could return to the first support line at 3805.83, where the 38.2% Fibonacci line is located.
Areas of consideration:
- H4 time frame, 1st support at 3805.83
- H4 time frame, 1st resistance at 4011.74
- H4 time frame, 2nd resistance at 4119.28
