DXY:

On the H4 timeframe, price is consolidating in a descending channel and is on bearish momentum. We expect a dip from our 1st resistance at 95.254 towards our 1st support at 94.620 in line with 100% Fibonacci retracement and 61.8% Fibonacci retracement. RSI is at a level where dips previously occurred and prices are trading below ichimoku clouds, further supporting our bearish bias.

Areas of consideration:

  • H4 time frame, 1st resistance at 95.254
  • H4 time frame, 1st support at 94.620

XAU/USD (GOLD):

On the H4, prices are on bullish momentum and abiding to our ascending trendline. We see the potential for a bounce from our 1st support at 1815.570 in line with 23.6% Fibonacci retracement towards our 1st resistance at 1829.630 in line with 100% Fibonacci extension and 61.8% Fibonacci retracement. Prices are trading above ichimoku clouds and RSI are showing bullish momentum, further supporting our bullish bias.

Areas of consideration:

  • 4h 1st support at 1815.570
  • 4h 1st resistance at 1829.63

GBP/USD

On the H4 chart price and near the first support level of 1.36414 which is also 50% Fibonacci retracement and 100% Fibonacci projection . Price can potentially go to the 1st resistance level of 1.37427 which is the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it and stochastic indicator as it is at support level.

Areas of consideration: 

  • H4 1st resistance at 1.37427
  • H4 1st support 1.36414

USD/CHF

On the H4 timeframe, price is abiding to a descending channel, signifying a bearish momentum. Price is approaching a support level, we can expect price to make a short-term bullish bounce in line with 78.6% Fibonacci Projection and 161.8% Fibonacci retracement towards 1st Resistance in line with 78.6% Fibonacci projection. Our short-term bullish bias is further supported by the stochastic indicator where the %K line is approaching the support level. 

Areas of consideration:

  • Watch 1st Support at 0.91113
  • Watch 1st Resistance at 0.92698

EUR/USD :

On the H4 chart , price is abiding by an ascending trendline and is near 1st support level of 1.13879  which is also 78.6%  Fibonacci projection and 50% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.14807 which is also 61.8% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it. 

Areas of consideration:

  • H4 1st resistance at 1.14807
  • H4 1st support at 1.13879

USD/JPY

On the H4 timeframe, is abiding to the ascending channel on the daily, signifying an overall bullish momentum. We can now expect price to push higher from 1st Support in line with 23.6% Fibonacci retracement and graphical overlap support towards 1st Resistance in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is further supported by the MACD indicator where the MACD line crossed above the signal line and both lines are in the oversold area. 

Areas of consideration:

  • H4 1st resistance level 115.508
  • H4 1st support level 114.287

AUD/USD:
In reference to last week’s analysis, price indeed dropped to 1st Support @ 0.72023. On the H4, price is reacting within the ascending channel, signifying an overall bullish momentum. Price is approaching the 1st Support, we can expect to see price make a bullish bounce from 1st Support in line with 100% Fibonacci projection, 78.6% Fibonacci retracement and ascending channel support towards 1st Resistance in line with previous swing high and 78.6% Fibonacci projection.  Our short-term bearish bias is further supported by the RSI indicator where it is approaching the support level. 


Areas of consideration:

  • H4 1st Support level  0.71724
  • H4 1st resistance level 0.73091

 

NZD/USD:

On the H4,  prices are consolidating in an ascending channel and on bullish momentum. We see the potential for a bounce from our 1st support at 0.6799 towards our 1st resistance at 0.68306 in line with 50% Fibonacci retracement. Prices are trading above our MA 200 and MA 50, and also Ichimoku clouds, further supporting our bullish bias. 

Areas of consideration:

  • H4 time frame, 1st resistance at 0.68306
  • H4 time frame, 1st support at 0.67990

USD/CAD:

On the H4,  with price moving below the ichimoku cloud, we have a bearish bias that price will from from our 1st resistance at 1.25632 which is in line with horizontal overlap resistance and 38.2% Fibonacci retracement  to 1st  support at 1.24604, which is in line with horizontal overlap support and  100% Fibonacci projection level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.26185, which coincides with horizontal overlap resistance and 61.8% Fibonacci retracement. 

Areas of consideration:

  • H4 time frame, 1st support at 1.24604
  • H4 time frame, 1st resistance at 1.25479

OIL: 

On the H4,  with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 87.32 which is in line with horizontal swing high resistance and 78.6% Fibonacci projection level from 1st  support at 85.5, which is in line with horizontal overlap support and  38.2% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 83.86, which coincides with horizontal overlap support.

Areas of consideration:

  • H4 time frame, 1st resistance of 87.32
  • H4 time frame, 1st support of 85.5

Dow Jones Industrial Average:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 36620 which is in line with horizontal swing high resistance and 78.6% Fibonacci retracement level and the 127.2% Fibonacci extension level from 1st  support at 35559, which is in line with horizontal swing low support and  61.8% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 34734, which coincides with horizontal swing low support level. 

Areas of consideration:

  • H4 time frame, 1st resistance of 36620
  • H4 time frame, 1st support of 35559

 

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Source: IC Markets Blog