DXY:

On the H4 timeframe, prices are abiding to a bearish trendline and are on bearish momentum. We expect a dip from our 1st resistance at 95.895 towards our 1st support at 95.6 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred and ichimoku clouds are further supporting our bearish bias.

Areas of consideration:

  • H4 time frame, 1st resistance at 95.895
  • H4 time frame, 1st support at 95.6

 

XAU/USD (GOLD):

On the H4, prices are consolidating in a triangle. We see the potential for a bounce from our 1st support at 1809.932 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1816.219 in line with 50% Fibonacci retracement. Prices are trading above ichimoku clouds and RSI are at levels where bounces occurred previously, further supporting our bullish bias.

Areas of consideration:

  • 4h 1st support at 1809.932
  • 4h 1st resistance at 1805.838

GBP/USD

On the H4 chart, price is near 1st resistance level of 1.36036 which is also 61.8% Fibonacci retracement and 61.8% Fibonacci projection.  Price can potentially go to the 2nd resistance level of 1.37413 which is also 61.8% Fibonacci projection and graphical swing high level.  Our bullish bias is supported by the stochastic indicator as it is near support level. 

 

Areas of consideration

  • 1st resistance at 1.36036
  • 1st support at 1.35289

USD/CHF

On the H4 timeframe, price is abiding to a descending channel, signifying a bearish momentum. Price is approaching the 1st resistance level of 0.91989, we can expect price to make a short-term bearish drop to the 1st support level of 9.91035 which is in line with our 100% Fibonacci projection and graphical swing low. Our bearish bias is supported by the stochastic indicator as it is at resistance level. 

Areas of consideration:

  • Watch 1st Support at 0.91035
  • Watch 1st Resistance at 0.91989

EUR/USD :

On the H4 chart , price is abiding by an ascending trendline and is near 1st support level of 1.12924  which is also 78.6%  Fibonacci retracement and 161.8% Fibonacci projection. Price can potentially go to the 1st resistance level of 1.13874 which is also 38.2%  Fibonacci retracement. Our bullish bias is supported by the stochastic  indicator as it is at support level 

Areas of consideration:

  • H4 1st resistance at 1.13874
  • H4 1st support at 1.12924

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 0.67563 towards our 1st resistance at 0.68098 in line with 38.2% Fibonacci retracement. RSI is at levels where bounces occurred previously, further supporting our bullish bias. 

Areas of consideration:

  • H4 time frame, 1st resistance at 0.68098
  • H4 time frame, 1st support at 0.67563

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 90.84 which is in line with horizontal swing high resistance and 127.2% Fibonacci extension level from 1st  support at 86.7, which is in line with horizontal overlap support. Alternatively, price may break 1st support structure and head for 2nd support at 83.86, which coincides with horizontal overlap support and 23.6% Fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance of 90.84
  • H4 time frame, 1st support of 86.7

Dow Jones Industrial Average:

On the H4, with price approaching the support of the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 35672 which is in line with horizontal overlap resistance and 38.2% Fibonacci retracement level from 1st  support at 35252, which is in line with horizontal swing low support and  78.6% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 34750, which coincides with horizontal swing low support level and 127.2% Fibonacci extension. 

Areas of consideration:

  • H4 time frame, 1st resistance of 35672
  • H4 time frame, 1st support of 35252

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Source: IC Markets Blog