{"id":51643,"date":"2022-01-14T15:04:12","date_gmt":"2022-01-14T04:04:12","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=51643"},"modified":"2022-01-14T15:04:12","modified_gmt":"2022-01-14T04:04:12","slug":"friday-14th-january-2022-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-14th-january-2022-technical-outlook-and-review\/","title":{"rendered":"Friday 14th January 2022 : Technical Outlook and Review"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">DXY:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, prices are on bullish momentum and abiding to our ascending trendline. We see potential for prices to bounce from our 1st support at 94.646 in line with 23.6% Fibonacci retracement towards our 1st resistance at 96.633 in line with 127.2% Fibonacci extension. Ichimoku clouds are forecasting bullish bounce.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, prices have recently broken out of our ascending trendline. We see potential for prices to bounce from our 1st support at 94.650 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension towards our 1st resistance at 95.582 in line with 38.2 Fibonacci retracement to retest our ascending trendline. RSI is at a level where bounces previously happened.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, prices have reached a graphical swing low. We would expect a bounce from our 1st support at 94.688 in line with 61.8% Fibonacci retracement towards our 1st resistance at 95.255 which is an area of FIbonacci confluences. RSI is at a level where bounces previously occurred.<\/span><\/p>\n<p><b>Areas of consideration:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at 95.255<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 94.688<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/DXY_2022-01-14.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51648\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/DXY_2022-01-14-1024x459.png\" alt=\"\" width=\"660\" height=\"296\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/DXY_2022-01-14-1024x459.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/DXY_2022-01-14-300x135.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/DXY_2022-01-14-768x344.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/DXY_2022-01-14.png 1837w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">XAU\/USD (GOLD):<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, prices are consolidating in a triangle and have the potential to bounce from our 1st support at 1784.333 in line with 61.8% Fibonacci extension towards our 1st resistance at 1848.842 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Technical indicators are showing bullish momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, prices are consolidating in a triangle. We see potential for a dip from our 1st resistance at 1828.775 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci retracement towards our 1st support at 1799.226 in line with 38.2% Fibonacci retracement.\u00a0 Our bias is further supported by RSI at a level where dips previously occurred.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 chart, prices are abiding to our daily bearish trendline. We see potential for prices to dip from our 1st resistance at 1828.025 which is an area of Fibonacci confluences towards our 1st support at 1809.115 in line with 38.2% Fibonacci retracement. RSI is at a level where dips previously occurred. Alternatively, breaking our 1st resistance will find prices climbing further towards our 2nd resistance at 1832.860 which is a graphical overlap.<\/span><\/p>\n<p><b>Areas of consideration:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">4h 1st support at 1809.115<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">4h 1st resistance at 1828.025<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/XAUUSD_2022-01-14.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51654\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/XAUUSD_2022-01-14-1024x459.png\" alt=\"\" width=\"660\" height=\"296\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/XAUUSD_2022-01-14-1024x459.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/XAUUSD_2022-01-14-300x135.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/XAUUSD_2022-01-14-768x344.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/XAUUSD_2022-01-14.png 1837w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">GBP\/USD<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly chart, price is near the support level of 1.33833 which is also 100% Fibonacci projection and 38.2% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.42529 which is also 61.8% Fibonacci projection and graphical swing high. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily chart price has recently broken out of the descending trendline and is near 1st support level of 1.36073 which is also 23.6% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.39758 which is also 78.6% Fibonacci retracement and 127.2% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 chart price is abiding by an ascending trendline and near the first support level of 1.36915 which is also 78.6%% Fibonacci retracement and 127.2% Fibonacci projection . Price can potentially go to the 1st resistance level of 1.38315 which is the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st resistance at 1.38315<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support 1.36915<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/GBPUSD_2022-01-14_10-07-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51650\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/GBPUSD_2022-01-14_10-07-01-1024x501.png\" alt=\"\" width=\"660\" height=\"323\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/GBPUSD_2022-01-14_10-07-01-1024x501.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/GBPUSD_2022-01-14_10-07-01-300x147.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/GBPUSD_2022-01-14_10-07-01-768x376.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/GBPUSD_2022-01-14_10-07-01.png 1837w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">USD\/CHF<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the Weekly timeframe, price is reacting in a triangle pattern.\u00a0 Traders should wait for the price to swing higher or lower before entering. On the Daily timeframe, price is abiding to the ascending trendline support on the weekly,we can expect an overall bullish momentum. Price could bounce from 1st Support in line with 78.6% Fibonacci retracement and 78.6% FIbonacci projection towards 1st Resistance in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is further supported by the RSI indicator where it is at the support level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, price is abiding to a descending channel, signifying a bearish momentum. Price is approaching a support level, we can expect price to make a short-term bullish bounce in line with 78.6% Fibonacci Projection and 161.8% Fibonacci retracement towards 1st Resistance in line with 78.6% Fibonacci projection. Our short-term bullish bias is further supported by the stochastic indicator where the %K line is approaching the support level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Watch 1st Support at 0.91113<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Watch 1st Resistance at 0.92698<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDCHF_2022-01-14_10-27-35.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51652\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDCHF_2022-01-14_10-27-35-1024x577.png\" alt=\"\" width=\"660\" height=\"372\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDCHF_2022-01-14_10-27-35-1024x577.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDCHF_2022-01-14_10-27-35-300x169.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDCHF_2022-01-14_10-27-35-768x433.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">EUR\/USD :<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly chart, price is near the 1st support level of 1.13819 which is also 23.6% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially go to the 1st resistance level of 1.16505 which is also 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator as it is near support level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily chart, price has recently broken out of the descending trendline and is near 1st resistance level of 1.14708 which is also 23.6% Fibonacci retracement. Price can potentially go to the graphical overlap resistance level of 1.16754 which is also 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 chart , price is abiding by an ascending trendline and is near 1st support level of 1.14526 which is also 161.8% Fibonacci projection and 61.8% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.15346 which is also 78.6% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st resistance at 1.15346<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at 1.14526<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/EURUSD_2022-01-14_09-57-22.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51649\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/EURUSD_2022-01-14_09-57-22-1024x501.png\" alt=\"\" width=\"660\" height=\"323\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/EURUSD_2022-01-14_09-57-22-1024x501.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/EURUSD_2022-01-14_09-57-22-300x147.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/EURUSD_2022-01-14_09-57-22-768x376.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/EURUSD_2022-01-14_09-57-22.png 1837w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">USD\/JPY<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the Weekly timeframe, we can see that price touched the 1st resistance in line with horizontal swing highs and 127.2% FIbonacci Retracement and 161.8% Fibonacci Projection. We can expect the price to drop from the 1st Resistance towards the 1st Support in line with 61.8% Fibonacci projection and 50% Fibonacci retracement. Our short-term bearish momentum is further supported by the stochastic %K line holding below the descending trendline resistance and bearish divergence spotted. In reference to last week\u2019s analysis, on the Daily timeframe price indeed dropped to the 1st Support.\u00a0 Price is now abiding to the ascending channel, we can expect price to bounce from 1st Support\u00a0 in line with 100% Fibonacci projection and 78.6% Fibonacci extension towards 1st Resistance in line with previous swing high, 127.2% Fibonacci expansion and 78,6% Fibonacci projection. Our bullish bias is further supported by the Ichimoku cloud acting as a support level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In reference to yesterday\u2019s analysis, price indeed moved down\u00a0 nicely to\u00a0 the 1st Support. On the H4 timeframe, is abiding to the ascending channel on the daily, signifying an overall bullish momentum. We can now expect price to bounce from 1st Support in line with daily support, 78.6% Fibonacci retracement and 100% FIbonacci projection. Our bullish bias is further supported by the stochastic indicator where the %K line is at the support level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st resistance level 115.508<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support level 113.484<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDJPY_2022-01-14_10-44-22.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51653\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDJPY_2022-01-14_10-44-22-1024x534.png\" alt=\"\" width=\"660\" height=\"344\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDJPY_2022-01-14_10-44-22-1024x534.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDJPY_2022-01-14_10-44-22-300x157.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/USDJPY_2022-01-14_10-44-22-768x401.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p><strong>AUD\/USD:<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">In reference to last week\u2019s analysis, price has bounced nicely on the 1st Support. On the weekly, we can now expect the price to continue to push higher\u00a0 from the 1st Support in line with 61.8% Fibonacci projection, 38.2 % FIbonacci retracement and 127.2% Fibonacci extensions. Our bullish bias is further supported by the RSI indicator abiding to an ascending trendline. Traders should wait for prices to swing higher or lower before entering again.\u00a0 In reference to last week\u2019s analysis price indeed bounced nicely on the 1st Support on the daily timeframe. On the Daily, the price is at the 1st support, we can expect the price to continue to push higher from 1st Support in line with 38.2% Fibonacci retracement towards 1st Resistance in line with 100% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is further supported by the MACD indicator where the MACD line is above the signal line.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, <\/span><span style=\"font-weight: 400;\">price is reacting within the ascending channel, signifying an overall bullish momentum. Price is approaching the 1st Resistance, we can expect to see price make a short-term bearish drop from 1st Resistance in line with 127.2% Fibonacci extension and 100% Fibonacci projection towards 1st Support in line with 50% Fibonacci retracement and 61.8% Fibonacci projection.\u00a0 Our short-term bearish bias is further supported by the stochastic indicator where the %K line is at the resistance level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st Support level\u00a0 0.72023<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st resistance level 0.73091<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0<a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/AUDUSD_2022-01-14_10-32-28.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51647\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/AUDUSD_2022-01-14_10-32-28-1024x577.png\" alt=\"\" width=\"660\" height=\"372\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/AUDUSD_2022-01-14_10-32-28-1024x577.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/AUDUSD_2022-01-14_10-32-28-300x169.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/AUDUSD_2022-01-14_10-32-28-768x433.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/span><\/p>\n<h2><span style=\"font-weight: 400;\">NZD\/USD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, prices are on a bullish momentum. We see potential for a bounce at 1st support at 0.67556\u00a0 in line with 23.6% Fibonacci retracement towards 1st resistance at 61.8% Fibonacci retracement. Technical indicators are showing bullish momentum. Alternatively, if prices break our 1st support, we might find it dipping towards our 2nd support at 0.69794 in line with 61.8% and 78.6% Fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, prices are consolidating in a channel. We see potential for prices to dip from our 1st resistance at 0.68596 in line with 100% Fibonacci retracement towards our 1st support at 0.67901 in line with 61.8% Fibonacci retracement. Ichimoku clouds are forecasting the dips.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, prices are at a daily support and strong graphical overlap. We see potential for prices to bounce from our 1st support at 0.68588 in line with 23.6% Fibonacci retracement towards our 1st resistance at 0.68815 in line with 78.6% Fibonacci extension. Our bias is further supported by the Ichimoku Clouds forecasting bullish momentum and also RSI portraying an upward trend.\u00a0 If prices break our 1st support, we can potentially find prices dipping towards our 2nd support at 0.68324 in line with 61.8% Fibonacci retracement.<\/span><\/p>\n<p><b>Areas of consideration:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at 0.68815<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 0.68588<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/NZDUSD_2022-01-14.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51651\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/NZDUSD_2022-01-14-1024x459.png\" alt=\"\" width=\"660\" height=\"296\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/NZDUSD_2022-01-14-1024x459.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/NZDUSD_2022-01-14-300x135.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/NZDUSD_2022-01-14-768x344.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/NZDUSD_2022-01-14.png 1837w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">USD\/CAD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the Weekly,\u00a0 <\/span><span style=\"font-weight: 400;\">with price reversing from the resistance of the stochastics, we have a bearish bias that price will from from our 1st resistance at 1.29626 which is in line with horizontal overlap resistance and 61.8% Fibonacci retracement to 1st\u00a0 support at 1.23427, which is in line with horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.33505, which coincides with horizontal overlap resistance and 50% Fibonacci retracement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, <\/span><span style=\"font-weight: 400;\">with price moving below the ichimoku cloud, we have a bearish bias that price will from from our 1st resistance at 1.25261 which is in line with horizontal overlap resistance to 1st\u00a0 support at 1.24365, which is in line with horizontal overlap support and\u00a0 78.6% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.26237, which coincides with horizontal overlap resistance and 50% Fibonacci retracement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4,\u00a0 <\/span><span style=\"font-weight: 400;\">with price moving below the ichimoku cloud, we have a bearish bias that price will from from our 1st resistance at 1.25479 which is in line with horizontal overlap resistance and 38.2% Fibonacci retracement\u00a0 to 1st\u00a0 support at 1.24604, which is in line with horizontal overlap support and\u00a0 100% Fibonacci projection level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.26185, which coincides with horizontal overlap resistance and 61.8% Fibonacci retracement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at<\/span><span style=\"font-weight: 400;\"> 1.24604<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at <\/span><span style=\"font-weight: 400;\">1.25479<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_CAD.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51644\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_CAD-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_CAD-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_CAD-300x149.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_CAD-768x383.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">OIL:<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the Weekly,\u00a0 <\/span><span style=\"font-weight: 400;\">with price approaching the resistance of the stochastics, we have a bearish bias that price will from from our 1st resistance at 86.10 which is in line with horizontal swing high resistance and 161.8% Fibonacci projection to 1st\u00a0 support at 77.47, which is in line with horizontal overlap support and 50% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 92.95, which coincides with horizontal swing high resistance and 127.2% Fibonacci extension level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily,\u00a0 <\/span><span style=\"font-weight: 400;\">with price at the resistance of the stochastics zone, we have a bearish bias that price will from from our 1st resistance at 86.44 which is in line with horizontal swing high resistance to 1st\u00a0 support at 78.27, which is in line with horizontal overlap support and\u00a0 38.2% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 92.14, which coincides with horizontal swing high resistance and 127.2% Fibonacci extension level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4,\u00a0 <\/span><span style=\"font-weight: 400;\">with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 85.5 which is in line with horizontal swing high resistance from 1st\u00a0 support at 83.86, which is in line with horizontal overlap support and\u00a0 23.6% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 82.30, which coincides with horizontal swing low support and 61.8% Fibonacci retracement level .\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance of <\/span><span style=\"font-weight: 400;\">85.5<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support of <\/span><span style=\"font-weight: 400;\">83.86<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_OIL.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51646\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_OIL-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_OIL-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_OIL-300x149.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_OIL-768x383.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><\/h2>\n<h2><span style=\"font-weight: 400;\">Dow Jones Industrial Average:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the Weekly, with price reacting off the resistance of the stochastics, we have a bearish bias that price will from from our 1st resistance at 36579 which is in line with horizontal swing high resistance and 161.8% Fibonacci projection level to 1st\u00a0 support at 34212, which is in line with horizontal swing low support and\u00a0 78.6% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 37660, which coincides with horizontal swing high resistance and 161.8% Fibonacci projection level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily,\u00a0 <\/span><span style=\"font-weight: 400;\">with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 36620 which is in line with horizontal swing high resistance, 78.6% Fibonacci projection and 127.2% Fibonacci extension from 1st\u00a0 support at 35967, which is in line with horizontal overlap support and\u00a0 38.2% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 35509, which coincides with horizontal overlap support and 61.8% Fibonacci retracement level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 36678 which is in line with horizontal swing high resistance and 78.6% Fibonacci retracement level from 1st\u00a0 support at 36042, which is in line with horizontal overlap support and\u00a0 38.2% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 35545, which coincides with horizontal swing low support and 61.8% Fibonacci retracement level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Areas of consideration:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance of <\/span><span style=\"font-weight: 400;\">36678<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support of <\/span><span style=\"font-weight: 400;\">36042<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_DJI.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-51645\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_DJI-1024x510.png\" alt=\"\" width=\"660\" height=\"329\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_DJI-1024x510.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_DJI-300x149.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/01\/2022-01-14_DJI-768x383.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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\u2019s software, hardware, data or property.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the Daily,\u00a0 with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 36620 which is in line with horizontal swing high resistance, 78.6% Fibonacci projection and 127.2% Fibonacci extension from 1st\u00a0 support at 35967, which is in line with horizontal overlap support and\u00a0 38.2% Fibonacci retracement level.<\/p>\n","protected":false},"author":8,"featured_media":51591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[340,215,339,195],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/51643"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=51643"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/51643\/revisions"}],"predecessor-version":[{"id":51655,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/51643\/revisions\/51655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/51591"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=51643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=51643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=51643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}