29th September Thursday 2022: Technical Outlook and Review

IC Markets No Comments

On the H4, with the price within a descending channel and below the ichimoku cloud, we continue to have a bearish bias. However, with the price bouncing off the 1st support of 3633, which is in line with the previous swing low of June 2022, we could see price testing the 3775 intermediate level before testing the 1st support again. 

28th September Wednesday 2022: Technical Outlook and Review

IC Markets No Comments

On the H4, with the price on a strong bearish trend and below the ichimoku cloud, we have a bearish bias that price may drop to the 2nd support of 3508, which is in line with the 27.2% fibonacci expansion and previous swing low from November 2020.