23rd August 2022 Tuesday: Technical Outlook and Review
On the H4 chart, price has confirmed a bullish momentum breaking the previous high and testing the first resistance at 137.602 where the 78.6% fibonacci retracement and 161.8% extension sits. If bullish momentum continues, it will bring the price to 139.369 where the swing high sits. Alternatively if price pulls back, it should test the first support at 135.524 and the second support at 131.766
22nd August 2022 Monday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that the price will rise to 1st resistance at 4278.78 where the overlap resistance is.
Friday 19th August 2022: Technical Outlook and Review
On the H4 chart, prices seem to have pulled back a little but the overall trend is still bearish biased. Price has broken the intermediate resistance at 133.908 which is the 50% Fibonacci retracement and is now testing the first resistance at 135.605 where the previous swing high. 61.8% fibonacci retracement and 78.6% projection sits.
18th August 2022 Thursday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that the price will rise to 1st resistance at 4278.78 where the overlap resistance is. Once there is upside confirmation that price has broken the 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 4420.02 where the pullback resistance, 78.6% fibonacci retracement and -61.8% fibonacci expansion are.
17th August 2022 Wednesday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from 1st support at 4278.78 where the overlap support is to the 1st resistance at 4420.02 where the pullback resistance, 78.6% fibonacci retracement and -61.8% fibonacci expansion are.
IC Markets release series two of IC Your Trade Podcast
Sydney, Australia: IC Markets announced series two of their informative and […]
16th August 2022 Tuesday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise from 1st support at 4278.78 where the overlap support is to the 1st resistance at 4420.02 where the pullback resistance, 78.6% fibonacci retracement and -61.8% fibonacci expansion are.
15th August 2022 Monday: Technical Outlook and Review
Once there is upside confirmation that price has broken 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 4420.02 where the pullback resistance, 78.6% fibonacci retracement and -61.8% fibonacci expansion are. Alternatively, price could drop to 1st support at 4182.68 where the pullback support is.
12th August 2022 Friday: Technical Outlook and Review
On the H4, with price reversing off the stochastic resistance, we have a bearish bias that price will drop to our 1st support at 4182.68 where the pullback support is. Once there is downside confirmation that price has broken the 1st support structure, we would expect bearish momentum to carry price to 2nd support at 4087.73 where the pullback support is.
