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Technical Analysis and Review

DXY:

On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop from our 1st resistance in line with the swing high resistance to our 1st support where the 61.8% Fibonacci retracement is. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 127.2% Fibonacci extension is.

Areas of consideration:

  • H4 time frame, 1st resistance at 104.064
  • H4 time frame, 1st support at 102.948

XAU/USD (GOLD):

On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 1887 where the 50% Fibonacci retracement and pullback resistance is to our 1st support at 1849 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance is.

Areas of consideration:

  • H4 time frame, 1st Resistance at 1887
  • H4 time frame, 1st Support at 1849

GBP/USD:

On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 1.24327 where the 38.2% Fibonacci retracement and pullback resistance is to our 1st support at 1.22706 in line with the horizontal swing low support and 161.8% Fibonacci extension. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance is.

Areas of consideration:

  • H4 1st resistance at 1.24327
  • H4 1st support at 1.22706

USD/CHF:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 0.99411 where the 161.8% Fibonacci extension is from our 1st support at 0.98405 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support.

Areas of consideration

  • 1st support level at 0.98405
  • 1st resistance level at 0.99411

EUR/USD :

On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 1.06194 to our 1st support at 1.04994 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 161.8% Fibonacci extension is.

Areas of consideration :

  • H4 1st resistance at 1.06194
  • H4 1st support at 1.04994

USD/JPY:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 131.240 where the swing high resistance is from our 1st support at 129.028 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.

Areas of consideration:

  • H4 time frame, 1st resistance at 131.240
  • H4 time frame, 1st support at 129.028

AUD/USD:

On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 0.70354 where the pullback resistance is to our 1st support at 0.69629 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance is.

Areas of consideration

  • H4 1st resistance at0.70354
  • H4 1st support at 0.69629

NZD/USD:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 0.64039 where the 23.6% Fibonacci retracement is to our 1st support at 0.63172 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance.

Areas of consideration:

  • H4 time frame, 1st support at 0.63172
  • H4 time frame, 1st resistance at 0.64039

USD/CAD:

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1.29076 where the swing high resistance is from our 1st support at 1.27197 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.

Areas of consideration:

  • H4 time frame, 1st resistance at 1.29076
  • H4 time frame, 1st support at 1.27197

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 116.71 where the 161.8% Fibonacci extension is from our 1st support at 108.77 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback support is.

Areas of consideration:

  • H4 time frame, 1st resistance of 116.71
  • H4 time frame, 1st support of 108.77

Dow Jones Industrial Average:

On the H4, with price expected to reverse off the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 33193 where the horizontal pullback resistance and 38.2% Fibonacci retracement is to our 1st support at 32422 in line with the pullback support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance.

Areas of consideration :

  • H4 time frame, 1st resistance at 33193
  • H4 time frame, 1st support at 3242

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