USD/JPY:
Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to possibly continue heading towards the 1st resistance at 132.904, where the recent high is. In an alternate scenario, price could possibly head back down to retest the 1st support at 130.812, where the overlap support and 50% Fibonacci line is.
Areas of consideration:
- H4 time frame, 1st resistance at 132.904
- H4 time frame, 1st support at 130.812
DXY:
Looking at the H4 chart, my overall bias for DXY is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to possibly continue heading towards the 1st resistance at 103.964, where the previous swing high is. In an alternative scenario, price could head back down to retest the 1st support at 102.439, where the 50% Fibonacci line and overlap support is.
Areas of consideration:
- H4 time frame, 1st resistance at 103.964
- H4 time frame, 1st support at 99.241
EUR/USD:
Looking at the H4 chart, my overall bias for EURUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market structure. If this bearish momentum continues, expect the price to possibly continue heading towards the 1st support at 1.06952, where the overlap support is. In an alternate scenario, price could possibly head back up to retest the 1st resistance at 1.07803, where the overlap resistance and 23.6% Fibonacci line is.
Areas of consideration :
- H4 1st resistance at 1.07803
- H4 1st support at 1.06952
GBP/USD:
Looking at the H4 chart, my overall bias for GBPUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect the price to possibly continue to head towards the 1st support at 1.19609, where the recent swing low is. In an alternate scenario, price could head back up to retest the 1st resistance line at 1.21116 where the overlap resistance and 38.2% Fibonacci line is.
Areas of consideration:
- H4 1st resistance at 1.21116
- H4 1st support at 1.19609
USD/CHF:
Looking at the H4 chart, my overall bias for USDCHF is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If the current bullish trend continues, expect the price to possibly break the 1st resistance at 0.92882, where the previous swing high is, before heading towards the 2nd resistance at 0.93609 where the intermediate high is. In an alternative scenario, price could possibly head back down to retest the 1st support at 0.90591, where the recent swing low is.
Areas of consideration
- H4 1st support at 0.90591
- H4 1st resistance at 0.92882
- H4 2nd resistance at 0.93609
XAU/USD (GOLD):
Looking at the H4 chart, my overall bias for XAUUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect the price to possibly continue heading towards the 1st support at 1824.515 where the overlap support is. In an alternative scenario, price could possibly head back up to retest the 1st resistance at 1901.430, where the overlap resistance and 38.2% Fibonacci line is.
Areas of consideration:
- H4 time frame, 1st resistance at 1901.430
- H4 time frame, 1st support at 1824.515
AUD/USD:
Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price is below the Ichimoku cloud, and the ascending trend line has been broken, indicating a change of market structure.
The 1st support is at 0.68768 which in line with the 50% Fibonacci retracement. The 2nd support is at 0.66382 which is the overlap and recent swing low.
In an alternate scenario, the price could possibly go back up towards the 1st resistance level at 0.71363 which is the recent swing high. There is an intermediate resistance at 0.69862 which is in line with 61.8% Fibonacci retracement.
Areas of consideration
- H4. 1st resistance at 0.71363
- H4. intermediate resistance at 0.69862
- H4, 1st support at 0.68768
- H4, 2nd support at 0.66382
NZD/USD:
Looking at the H4 chart, my overall bias for NZDUSD is bearish, as the current price is below the Ichimoku Cloud, and the ascending trend line has been broken, indicating a change of market structure. Expecting the price go down towards the 1st support at 0.62762 which is the recent overlap swing low. It is also inline with 23.6% Fibonacci retracement. The 2nd support is at 0.61936.
In an alternate scenario, price could possibly up towards the 1st resistance level at 0.65158 which is the recent overlap swing high. There is an intermediate resistance at 0.63636 which is in line with 50% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 0.65158
- H4 time frame, intermediate resistance at 0.65158
- H4 time frame, 1st support at 0.62762
- H4 time frame, 2nd support at 0.61936
USD/CAD:
Looking at the H4 chart, my overall bias for USDCAD is bearish , as there is a descending trend line. Expecting the current price is head down towards the 1st support at 1.33623 which is the recent swing low. The 2nd support is at 1.32369 which is the previous swing low.
In an alternative scenario, the price could possibly head up to the 1st resistance at 1.34730 which is the recent swing high and also in line with the 50% Fibonacci retracement. The 2nd resistance is at 1.36933 which the previous swing high.
Areas of consideration:
- H4 time frame, 2nd resistance at 1.36933
- H4 time frame, 1st resistance at 1.34730
- H4 time frame, 1st support at 1.33623
- H4 time frame, 2nd support at 1.32369
OIL:
Looking at the H4 chart, my overall bias for BOC is bullish.as the there is an ascending channel, Expecting the price head up towards the 1st resistance level at 88.598 which i sthe recent swing high , before it heads down to the 2nd support at 75.827 which is the recent swing low.
In an alternate scenario, the price could possibly head down towards the 1st support level at 79.587 which is the recent swing low, before the price drop to the 2nd support at 75.827.
Areas of consideration:
- H4 time frame, 1st resistance at 88.598
- H4 time frame,1st support at 79.587
- H4 time frame, 2nd support at 75.827
Dow Jones Industrial Average:
On the H4 chart, the overall bias for DJI is bullish. To add confluence to this, the price is crossing above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect the price to possibly continue heading towards the 1st resistance line at 34342.32, where the recent swing high is. In an alternative scenario, price could possibly head back down towards the 1st support at 32581.97, slightly above where the 38.2% Fibonacci line is.
Areas of consideration:
- H4 time frame, 1st support at 32581.97
- H4 time frame, 1st Resistance at 34342.32
DAX:
Looking at the H4 chart, my overall bias for DAX is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to possibly head towards the 1st resistance line at 15590, where the recent high is. In an alternative scenario, price could possibly head down to retest the 1st support at 15290, where the overlap support is.
Areas of consideration:
- H4 time frame, 1st resistance is at 15590
- H4 time frame, 1st support is at 15290
ETHUSD:
Looking at the H4 chart, my overall bias for ETHUSD is slightly bullish, the strong ascending trend line has been created. Expecting the price to break the 1st resistance line at 1683.95 which is the recent swing high, before it heads towards the 2nd resistance 1784.57.
In an alternate scenario, the price may break the support line and go down to the 1st support at 1508.30 which is the recent swing low.
Areas of consideration:
- H4 time frame, 2nd resistance of 1784.57
- H4 time frame, 1st resistance of 1683.95
- H4 time frame, 1st support at 1508.30
BTCUSD:
Looking at the H4 chart, my overall bias for BTCUSD is bullish. An ascending channel was created, expecting the price to break the 1st resistance line at 24234.83 which is the recent overlap resistance, before heading towards the 2nd resistance at 24942.70 which is the previous swing high.
In an alternative scenario, the price could possibly head down to the 1st support at 22763.33 which is the overlap support.
Areas of consideration:
- H4 time frame, 2nd resistance 24942.70
- H4 time frame, 1st resistance 24234.83
- H4 time frame, 1st support at 22763.33
S&P 500:
Looking at the H4 chart, my overall bias for S&P500 is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect the price to possibly break the 1st resistance at 4208.50, where the recent swing high is., before heading towards the 2nd resistance at 4327.50 where the previous swing high is, In an alternative scenario, price could possibly head back down to retest the 1st support at 4091.75, where the 50% Fibonacci line is.
Areas of consideration:
- H4 time frame, 1st support at 4091.75
- H4 time frame, 1st resistance at 4208.50
- H4 time frame, 2nd resistance at 4327.50
The accuracy, completeness and timeliness of the information contained on this site cannot be guaranteed. IC Markets does not warranty, guarantee or make any representations, or assume any liability regarding financial results based on the use of the information in the site.
News, views, opinions, recommendations and other information obtained from sources outside of www.icmarkets.com.au, used in this site are believed to be reliable, but we cannot guarantee their accuracy or completeness. All such information is subject to change at any time without notice. IC Markets assumes no responsibility for the content of any linked site.
The fact that such links may exist does not indicate approval or endorsement of any material contained on any linked site. IC Markets is not liable for any harm caused by the transmission, through accessing the services or information on this site, of a computer virus, or other computer code or programming device that might be used to access, delete, damage, disable, disrupt or otherwise impede in any manner, the operation of the site or of any user’s software, hardware, data or property.