ICMarket

17th May 2022 Tuesday: Technical Outlook and Review

 

DXY:


On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 104.989 where the swing high resistance is from our 1st support at 104.078 in line with the horizontal pullback support and 38.2% Fibonacci retracement. 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 104.989
  • H4 time frame, 1st support at 104.078

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 1834 where the horizontal pullback resistance and 61.8% Fibonacci retracement is to our 1st support at 1798 in line with the 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 time frame, 1st Resistance at 1834
  • H4 time frame, 1st Support at 1798

 

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 1.23967 where the 50% Fibonacci retracement and swing high resistance is to our 1st support at 1.21711 in line with the horizontal overlap 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 at 1.23967
  • H4 1st support at 1.21711

USD/CHF:

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 at 1.00497 where the 61.8% Fibonacci projection and swing high resistance is to our 1st support at 0.98848 in line with the horizontal overlap support and 50% fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback resistance is.

Areas of consideration

  • 1st support level at 0.98848
  • 1st resistance level at 1.00497

 

 

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 1.04862 where the horizontal pullback resistance and 50% Fibonacci retracement is to our 1st support at 1.03547 in line with the 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 1st resistance at 1.04862
  • H4 1st support at 1.03547

USD/JPY:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 129.493 where the 50% Fibonacci projection and swing high resistance is to our 1st support at 127.500 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 where the horizontal swing high resistance is.

Areas of consideration:

  • H4 time frame, 1st resistance at 129.493
  • H4 time frame, 1st support at 127.500

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 0.70378 where the pullback resistance and 50% Fibonacci retracement is to our 1st support at 0.68870 in line with the swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 61.8% Fibonacci retracement is.

Areas of consideration 

  • H4 1st resistance at 0.70378
  • H4 1st support at 0.68870

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 0.63428 where the 23.6% Fibonacci retracement, 38.20% Fibonacci retracement and horizontal swing high resistance is to our 1st support at 0.62274 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 0.64052 in line with 50% Fibonacci retracement and horizontal pullback resistance.

Areas of consideration:

  • H4 time frame, 1st support at 0.62274
  • H4 time frame, 1st resistance at 0.63428

USD/CAD:

On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 1.29076 where the horizontal pullback resistance and 50% Fibonacci retracement is to our 1st support at 1.27216 in line with the 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 time frame, 1st resistance at 1.29076
  • H4 time frame, 1st support at 1.27216

OIL: 

On the H4, with price expected to reverse off the stochastics indicator resistance, we have a bearish bias that price will drop from our 1st resistance at 114.39 where the 127.2% Fibonacci extension is to our 1st support at 111.11 in line with the 23.6% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 38.2% Fibonacci retracement.

Areas of consideration:

  • H4 time frame, 1st resistance of 114.39
  • H4 time frame, 1st support of 111.11

Dow Jones Industrial Average:

On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 114.39 where the 127.2% Fibonacci extension is to our 1st support at 111.11 in line with the 23.6% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the 38.2% Fibonacci retracement.

Areas of consideration : 

  • H4 time frame, 1st resistance at 32553
  • H4 time frame, 1st support at  31753

 

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.

 

 

Latest

Technical Analysis
Thursday 28th March 2024: Technical Outlook and Review

By IC Markets Global

Ex Dividends Indices
Ex-Dividend 28/03/2024

By IC Markets Global