USD/JPY:

Looking at the H4 chart, my overall bias for USDJPY is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.  If this bearish momentum continues, expect price to possibly continue heading towards the 1st support at 126.361, where the previous swing low is.In an alternate scenario, price could possibly head back up breaking the 1st resistance level at 130.391, where the previous swing low is before heading towards the 2nd resistance at 134.528, where the 78.6% Fibonacci line is.

Areas of consideration:

• H4 time frame, 1st resistance at 130.391
• H4 time frame, 2nd resistance at 134.528
• H4 time frame, 1st support at 126.361

DXY:

On the H4 chart, the overall bias for DXY is bearish. To add confluence to this, the price is within the descending channel which indicates a bearish market. If this bearish momentum continues, expect the price to possibly break the 1st support line at 103.418, where the -27.2% Fibonacci expansion line is before heading towards the 2nd support at 101.656, where the -61.8% Fibonacci expansion line is. In an alternative scenario, price could head back up and break the 1st resistance line resistance at 104.734, where the previous swing low is before heading towards the 2nd resistance at 106.396, where the 38.2% Fibonacci line is.

Areas of consideration:

• H4 time frame, 1st resistance at 104.734
• H4 time frame, 1st support at 103.418
• H4 time frame, 2nd support at 101.656

EUR/USD:

Looking at the H4 chart, my overall bias for EURUSD 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 head towards the 1st resistance at 1.05948, where the 23.6% Fibonacci line is. In an alternate scenario, price could possibly head back down towards the 1st support level at 1.04818, where the 50% Fibonacci line is.

Areas of consideration :

• H4 1st resistance at 1.05948
• H4 1st support at 1.04818

GBP/USD:

Looking at the H4 chart, my overall bias for GBPUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly continue heading towards the 1st support at 1.19008, where the 23.6% Fibonacci line is. In an alternate scenario, price could possibly head back up to break the 1st resistance level at 1.22770, where the previous swing high is before heading towards the 2nd support at 1.16479, where the 38.2% Fibonacci line is.

Areas of consideration:

• H4  1st resistance at 1.22770
• H4  1st support at 1.19008
• H4  2nd support at 1.16479

 

USD/CHF:

The overall bias for USDCHF on the H4 chart is bearish. In addition, the price is crossing below the Ichimoku cloud, indicating a bearish market. If the current bearish trend continues, expect the price to head back down towards the 1st support line at 0.91932, where the previous swing low and 12.72% Fibonacci extension line is . In an alternative scenario, price could possibly head up breaking the 1st resistance at 0.93706, where the previous swing low is, before heading towards the 2nd resistance at 0.95448, where the 78.6% Fibonacci line is.

Areas of consideration

• H4 1st support at  0.91932
• H4 1st resistance at 0.93706
• H4 2nd resistance at 0.95448

XAU/USD (GOLD):

Looking at the H4 chart, my overall bias for XAUUSD 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 continue heading towards the 1st resistance at 1849.990 where the recent high is. In an alternative scenario, price could possibly head back down towards the 1st support at 1823.644, where the 23.62% Fibonacci line is.

Areas of consideration: 

• H4 time frame, 1st resistance at 1849.990
• H4 time frame, 1st support at 1823.644

AUD/USD:

Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a possible shift to bearish market structure. If this bearish momentum continues, expect the price to possibly head back down breaking the 1st support at 0.67168, where the 23.6% Fibonacci line is, before heading towards the 2nd support at 0.66332, where the 38.2% Fibonacci line is. In an alternative scenario, price could possibly head back up towards the 1st resistance at 0.68932, where the recent swing high is.

Areas of consideration 

• H4,  1st resistance at 0.68932
• H4, 1st support at 0.67168
• H4, 2nd support at 0.66332

 

NZD/USD:

Looking at the H4 chart, my overall bias for NZDUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly break the 1st support at 0.62305, where the previous swing low is, before heading towards the 2nd support at 0.61601, where the -27.2% Fibonacci line is. In an alternate scenario, price could possibly head back up towards the 1st resistance level at 0.63024, where the 23.6% Fibonacci line is 

Areas of consideration:

• H4 time frame,  1st resistance at 0.63024

• H4 time frame,  1st support at 0.62305
• H4 time frame,  2nd support at 0.61601

 

USD/CAD:

On the H4 chart, the overall bias for USDCAD is bullish . To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect the price to possibly head up and break 1st resistance line at 1.36865, where the 61.8% Fibonacci line is, before heading towards the 2nd resistance line at 1.38082, where the 78.6% Fibonacci line is. In an alternative scenario, price could head back down to break the 1st support at 1.35029, where the 38.2% Fibonacci line is, before heading towards the 2nd support at 1.33578, where the 20% Fibonacci line is.

Areas of consideration:

• H4 time frame,  1st resistance at 1.36865
• H4 time frame,  2nd resistance at 1.38082
• H4 time frame, 1st support at 1.35029
• H4 time frame, 2nd support at 1.33578

 

OIL: 

Looking at the H4 chart, my overall bias for BCOUSD 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 break the 1st support level at 82.038, where the 23.6% Fibonacci line is, before heading towards the 2nd support at 75.812, where the previous swing low is. In an alternate scenario, price could possibly head back up towards the 1st resistance at 90.619, where the 61.8% Fibonacci line is.

Areas of consideration:

• H4 time frame,  1st resistance at  90.619
• H4 time frame, 1st support at 82.038
• H4 time frame, 2nd support at 75.812

 

Dow Jones Industrial Average:

On the H4 chart, the overall bias for DJI is bearish. To add confluence to this, the price is below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect the price to head back down towards the 1st support at 32490.37, where the 61.8% Fibonacci line is. In an alternative scenario, price could possibly break the 1st resistance line at 34106.01, where the previous swing high is before heading towards the 2nd resistance line at 35492.22, where the previous swing high is.

Areas of consideration:

• H4 time frame, 1st support at 32490.37
• H4 time frame, 1st Resistance at 34106.01
• H4 time frame, 2nd Resistance at 35492.22

 

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 14682, where the previous swing high is. In an alternative scenario, price could possibly head down to retest the 1st support at 13898, where the 23.6% Fibonacci line is.

Areas of consideration:

• H4 time frame, 1st resistance is at 14682
• H4 time frame, 1st support is at 13898

ETHUSD:

Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to head towards the 1st support at 1074.23, where the previous swing low is. In an alternative scenario, price could head back up to break the 1st resistance at 1231.62, where the 50% Fibonacci line is, before heading towards the 2nd resistance at 1308.21, where the 38.2% Fibonacci line is.

Areas of consideration:

• H4 time frame, 1st resistance of 1231.62
• H4 time frame, 2nd resistance of 1308.21
• H4 time frame, 1st support at 1074.23

 

BTCUSD:

Looking at the H4 chart, my overall bias for BTCUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. To add support to this bias, price has also broken down through the bullish ascending channel. If this bearish momentum continues, expect price to possibly continue heading towards the 1st support at 15632.00, where the previous swing low is. In an alternative scenario, price could possibly head up towards the 1st resistance at 17297.00, where the 38.2% Fibonacci line is.

 Areas of consideration:

• H4 time frame,  1st resistance 17297.00
• H4 time frame,  1st support at 15632.00

 

S&P 500:

Looking at the H4 chart, my overall bias for S&P500 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 continue heading towards the 1st support at 3636.87, where the 78.6% Fibonacci line is. In an alternative scenario, price could possibly head back up to retest the 1st resistance at 3907.07, where the 38.2% Fibonacci line is.

Areas of consideration:

• H4 time frame, 1st support at 3636.87
• H4 time frame, 1st resistance at 3907.07

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, 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.