DXY:

On the H4 timeframe, prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our 1st support at 98.287 in line with 61.8% Fibonacci projection towards our 1st resistance at 99.154 in line with 61.8% Fibonacci retracement. Prices are trading above our ichimoku cloud support and RSI are at levels where bounces previously occurred, further supporting our bullish bias.

Areas of consideration:

  • H4 time frame, 1st resistance at 99.154
  • H4 time frame, 1st support at 98.287

XAU/USD (GOLD):

On the H4, prices are on bearish momentum. We see the potential for further bearish continuation from our 1st resistance at 1927.14 in line with 23.6% Fibonacci retracement towards our 1st support at 1878.627 in line with 200% Fibonacci projection and 127.2% Fibonacci Projection. Ichimoku is on bearish momentum, further supporting our bias.

Areas of consideration:

  • 4h 1st support at 1878.627
  • 4h 1st resistance at 1927.14

GBP/USD:

On the H4, prices are on bullish momentum. We see the potential for further bullish continuation from our 1st support at 1.30967 in line with 23.6% Fibonacci Retracement towards our 1st resistance at 1.32729 which is an area of Fibonacci confluences. Our bullish bias is supported by the MacD cross and also prices trading above our MA.

Areas of consideration 

  • H4 1st resistance at 1.32729
  • H4 1st support at 1.30967

USD/CHF:

On the H4, with price expected to reverse off the stochastics indicator, we have a bias that price will drop from 1st resistance at 0.94695 in line with the 161.8% Fibonacci extension to 1st support at 0.93407 in line with the horizontal pullback support and 50% Fibonacci retracement .Alternatively, price may break 1st resistance structure and head for 2nd resistance at 0.95157 in line with the daily horizontal overlap resistance . 

Areas of consideration

  • 1st support level 0.93407
  • 1st resistance 0.94695

EUR/USD :

On the H4 price is near 1st resistance level of 1.10898 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially dip to the 1st support level of 1.09099 which is in line with 61.8% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator as it is near resistance level.

Areas of consideration :

  • H4 1st resistance at 1.10898
  • H4 1st support at 1.09099

USD/JPY: 


On the H4 timeframe prices are on bullish momentum. We see the potential for a further bullish continuation from our 1st support at 117.713 in line with 23.6% Fibonacci retracement towards our 1st resistance at 120.908 which is an area of Fibonacci confluences. Prices are trading above our ichimoku cloud support, further supporting our bullish bias.

Areas of consideration:

  • H4 time frame, 1st resistance at 120.908
  • H4 time frame, 1st support at 117.713

AUD/USD:

On the H4 chart, price is near the 1st resistance level of 0.73196 in line with 50% Fibonacci retracement. Price can potentially dip to the 1st support level of 0.71783 in line with 161.8% Fibonacci extension and 76.8% Fibonacci projection. Our bullish bias is further supported by price trading under the Ichimoku cloud indicator.

Areas of consideration 

  • H4 1st resistance at 0.73196
  • H4 1st support at 0.71783

 

NZD/USD:

On the H4 chart, price is near the 1st resistance level of 0.68427 in line with 61.8% Fibonacci retracement. Price can potentially dip to the 1st support level of 0.67381 in line with 161.8% Fibonacci extension and 61.8% Fibonacci projection. Our bullish bias is further supported by price trading under the Ichimoku cloud indicator.

Areas of consideration :

  • H4 1st resistance at 0.68427
  • H4 1st support at 0.67381

USD/CAD:

On the H4, with price expected to reverse off the stochastics indicator, we have a bias that price will rise to our 1st resistance at 1.28829 in line with the 61.8% Fibonacci projection from our 1st support at 1.26909 in line with the horizontal swing low support and 61.8% Fibonacci projection.Alternatively, price may break 1st support structure and head for 2nd support at 1.26159 in line with the 127.2% Fibonacci extension. 

Areas of consideration:

  • H4 time frame, 1st support at 1.26909 
  • H4 time frame, 1st resistance at 1.28829 

OIL: 

On the H4, with price moving below the ichimoku cloud, we have a bias that price will drop from 1st resistance at 105.6 in line with the horizontal overlap resistance to 1st support at 90.8 in line with the swing low support .Alternatively, price may break 1st resistance and head for 2nd resistance at 112.53 in line with the swing high resistance. 

Areas of consideration:

  • H4 time frame, 1st resistance of 90.8
  • H4 time frame, 1st support of 90.8

Dow Jones Industrial Average:

On the H4, with price moving above the ichimoku cloud, we have a bias that price will rise to 1st resistance at 34054 in line with the swing high resistance from 1st support at 33183 in line with the swing low support and 50% Fibonacci retracement. Alternatively, price may break 1st support and head for 2nd support at 32717 in line with the horizontal swing low support. Our bullish bias is further supported by how price broke the descending trendline and is expected to retest the trendline.

Areas of consideration : 

  • H4 1st support at  33183
  • H4 1st resistance at 34054

 

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Source: IC Markets Blog