{"id":53266,"date":"2022-04-01T15:48:14","date_gmt":"2022-04-01T04:48:14","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=53266"},"modified":"2022-04-01T16:33:13","modified_gmt":"2022-04-01T05:33:13","slug":"1st-april-friday-2022-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/1st-april-friday-2022-technical-outlook-and-review\/","title":{"rendered":"1st April Friday 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 have approached a pivot. With RSI at all time high and divergence spotted, we see the potential for a dip from our 1st resistance at 99.183 in line with 78.6% Fibonacci Retracement towards our 1st support at 95.089 in line with 50% Fibonacci retracement. RSI is at levels where dips previously occurred.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the daily, prices have consolidated in a triple top pattern. We see the potential for a bounce from our 1st support at 97.753 in line with 100% Fibonacci Projection towards our 1st resistance at 99.430 in line with 100% Fibonacci Projection. Prices are trading above our ichimoku cloud support, further supporting our bullish bias.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4 timeframe, prices are approaching a pivot. We see the potential for a dip from our 1st resistance at 98.409 in line with 38.2% Fibonacci Retracement towards our 1st support at 97.741 in line with 38.2% Fibonacci retracement. Prices are trading below our ichimoku clouds, further supporting our bearish bias.<\/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 98.409<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 97.741<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53270\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-01-1024x463.png\" alt=\"\" width=\"660\" height=\"298\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-01-1024x463.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-01-300x136.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-01-768x347.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">XAU\/USD (GOLD):\u00a0\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, prices are on bullish momentum. We see the potential for a bounce from our 1st support at 1880.940 in line with 50% Fibonacci retracement towards our 1st resistance at 2008.939 which is an area of Fibonacci confluences.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the daily, prices are on bullish momentum. We see the potential for further bullish continuation from our 1st support at 1910.771 in line with 78.6% Fibonacci retracement towards our 1st resistance at 1967.332 in line with 100% Fibonacci projection. Prices are trading above our ichimoku clouds, further supporting our bullish bias.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, prices are on bullish momentum and abiding by our ascending trendline support. We see the potential for further bullish continuation from our 1st support at 1932.623 which is in line with 23.6% Fibonacci retracement towards our 1st resistance at 1950.056 in line which is a graphical swing high. Ichimoku is supporting our bullish bias.<\/span><\/p>\n<p>&nbsp;<\/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 <\/span><span style=\"font-weight: 400;\">1932.623\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">4h 1st resistance at<\/span><span style=\"font-weight: 400;\"> 1950.056\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/XAUUSD_2022-04-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53278\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/XAUUSD_2022-04-01-1024x506.png\" alt=\"\" width=\"660\" height=\"326\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/XAUUSD_2022-04-01-1024x506.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/XAUUSD_2022-04-01-300x148.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/XAUUSD_2022-04-01-768x380.png 768w\" 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, prices are on bearish trendline and abiding by our descending trendline resistance. We see the potential for a dip from our 1st resistance in line with 50% Fibonacci retracement towards our 1st support at 1.30061 which is a graphical swing low and also in line with 127.2% Fibonacci extension.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the daily, prices are on bearish momentum. We see the potential for further bearish continuation from our 1st resistance at 1.32763 in line with 78.6% Fibonacci projection towards our 1st support at 1.30038 in line with 61.8% Fibonacci Projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, prices are consolidating in a triangular pattern. As prices are consolidating in the middle, we would watch for a break from the triangle. Breaking upwards will find prices going to our 1st resistance at 1.31848 in line with 78.6% Fibonacci Retracement. Alternatively, prices may dip towards our 1st support at 1.31043 in line with 78.6% Fibonacci Projection. Technical indicators are showing conflicting views.<\/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 1st resistance at 1.31848 i<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at 1.31043\u00a0<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53272\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-01-1024x463.png\" alt=\"\" width=\"660\" height=\"298\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-01-1024x463.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-01-300x136.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-01-768x347.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h2><span style=\"font-weight: 400;\">USD\/CHF:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, with price expected to reverse off the stochastics resistance, we expect to see a potential for bearish drop from our 1st resistance of 0.93372 in line with the swing high resistance towards our 1st support level at 0.89358 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 2nd resistance level at 0.94582 which is in line with the swing high resistance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the daily, price is expected to reverse off the stochastics resistance, we expect to see a potential for bearish drop from our 1st resistance of 0.93078 in line with the 50% Fibonacci retracement towards our 1st support level at 0.89358 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 2nd resistance level at 0.94134 which is in line with the swing high resistance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 0.93001 in line with the 50% Fibonacci retracement from our 1st support at 0.92302 in line with the horizontal overlap support and 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support at 0.91630\u00a0 in line with the swing low support.<\/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;\">1st support level at <\/span><span style=\"font-weight: 400;\">0.92302<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">1st resistance level at<\/span><span style=\"font-weight: 400;\"> 0.93001<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-01_10-04-40.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53276\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-01_10-04-40-1024x468.png\" alt=\"\" width=\"660\" height=\"302\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-01_10-04-40-1024x468.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-01_10-04-40-300x137.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-01_10-04-40-768x351.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-01_10-04-40.png 1357w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">EUR\/USD :<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, we see the potential for a bullish bounce from our 1st support at 1.10710 in line with 78.6% Fibonacci projection towards our 1st resistance at 1.14510 in line with 38.2% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator where it is at support level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, we see the potential for a bearish dip from our 1st resistance at 1.11891 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards our 1st support at 1.08030 in line with 61.8% Fibonacci projection and 131.8% Fibonacci extension. Our bearish bias is supported by price trading below the ichimoku cloud indicator.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, we see the potential for a bullish bounce from our 1st support at 1.10609 in line with 78.6% Fibonacci projection and 50% Fibonacci retracement towards our 1st resistance at 1.11886 in line with 100% Fibonacci projection and 61.8% Fibonacci retracement. Our bearish bias is supported by price trading below the ichimoku cloud indicator.<\/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 1.11886<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at 1.10609<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-01_10-08-57.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53271\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-01_10-08-57-1024x456.png\" alt=\"\" width=\"660\" height=\"294\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-01_10-08-57-1024x456.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-01_10-08-57-300x134.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-01_10-08-57-768x342.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-01_10-08-57.png 1283w\" 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, prices have approached an all time high. We see the potential for a dip from our 1st resistance at 125.271 in line with 200% Fibonacci Projection towards our 1st support at 118.894 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the daily, prices are on strong bullish momentum. We see the potential for a bounce from our 1st support at 121.320 in line with 38.2% Fibonacci retracement towards our 1st resistance at 124.312 which is a swing high.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4 timeframe, prices have approached a strong resistance. We see the potential for a dip from our 1st resistance at 122.411 in line with 23.6% Fibonacci retracement towards our 1st support at 121.277 in line with 100% Fibonacci Projection. Prices are testing the ichimoku clouds, supporting our bearish bias.<\/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 122.411<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 121.277\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53277\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-01-1024x463.png\" alt=\"\" width=\"660\" height=\"298\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-01-1024x463.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-01-300x136.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-01-768x347.png 768w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">AUD\/USD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, we see the potential for a bearish reversal from our 1st resistance at 0.75461 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 0.69813 in line with 100% Fibonacci projection. Price is trading below the ichimoku cloud indicator, further supporting our bearish bias.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, we see the potential for a bearish reversal from our 1st resistance at 0.75575 in line with 61.8% Fibonacci projection, 161.8% Fibonacci extension\u00a0 and 50% Fibonacci retracement towards our 1st support at 0.71890 in line with 100% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where it is at resistance level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, we see the potential for a bullish bounce from our 1st support at 0.74716 in line with 23.6% Fibonacci retracement towards our 1st resistance at 0.75951 in line with 161.8% Fibonacci extension. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.<\/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 0.75951<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at 0.74716<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-01_09-47-07.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-53268\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-01_09-47-07.png\" alt=\"\" width=\"997\" height=\"566\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-01_09-47-07.png 997w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-01_09-47-07-300x170.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-01_09-47-07-768x436.png 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/a><\/h2>\n<h2><span style=\"font-weight: 400;\">NZD\/USD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, we see the potential for a bearish reversal from our 1st resistance at 0.70061 in line with 50% Fibonacci retracement towards our 1st support at 0.65404 in line with 61.8% Fibonacci projection. Price is trading below the ichimoku cloud indicator, further supporting our bearish bias.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, we see the potential for a bearish reversal from our 1st resistance at 0.69938 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci extension towards our 1st support at 0.67296 in line with 78.6% Fibonacci projection and 50% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where it is at resistance level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, we see the potential for a bullish bounce from our 1st support at 0.69188 in line with 23.6% Fibonacci retracement towards our 1st resistance at 070514 in line with 161.8% Fibonacci extension. Our bearish bias is supported by price trading above the ichimoku cloud indicator.<\/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 0.70514<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at 0.69188<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-01_10-23-12.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53273\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-01_10-23-12-1024x449.png\" alt=\"\" width=\"660\" height=\"289\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-01_10-23-12-1024x449.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-01_10-23-12-300x132.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-01_10-23-12-768x337.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-01_10-23-12.png 1283w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h2><span style=\"font-weight: 400;\">USD\/CAD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, with price expected to reverse off the stochastics resistance, we expect to see a potential for bearish drop from our 1st resistance of 1.29626 in line with the swing high resistance towards our 1st support level at 1.23427 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 2nd resistance level at 1.33953.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price expected to bounce off the support of the stochastics indicator, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 1.28819 in line with the <\/span><span style=\"font-weight: 400;\">swing high resistance<\/span><span style=\"font-weight: 400;\"> from our 1st support at 1.24737 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support at 1.23130.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 1.25967 in line with the 38.2% Fibonacci retracement from our 1st support at 1.24617 in line with the horizontal swing low support. Alternatively, price may break 1st support structure and head for 2nd support at 1.23886\u00a0 in line with the 161.8% Fibonacci extension.<\/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 support at<\/span><span style=\"font-weight: 400;\"> 1.24617<\/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;\">1.25967\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-01_10-12-06.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53275\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-01_10-12-06-1024x469.png\" alt=\"\" width=\"660\" height=\"302\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-01_10-12-06-1024x469.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-01_10-12-06-300x138.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-01_10-12-06-768x352.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-01_10-12-06.png 1357w\" 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, with price expected to bounce off the support of the ichimoku cloud, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 131.64 in line with the 127.2% Fibonacci extension from our 1st support at 86.84\u00a0 in line with the 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 68.70.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price expected to bounce off the support of the ichimoku cloud, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 132.14 in line with the swing high resistance from our 1st support at 98.15 in line with the horizontal swing low support and 61.8% Fibonacci retracement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving below the ichimoku cloud, we expect to see a potential for bearish drop from our 1st resistance of 113.70 in line with the pullback resistance towards our 1st support level at 98.14 in line with the 61.8% Fibonacci projection. Alternatively, If price breaks out, it can potentially move towards our 2nd resistance level at 123.24 which is in line with the swing high resistance.<\/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;\">113.70<\/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;\">98.14<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/UKOIL_2022-04-01_10-05-14.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53274\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/UKOIL_2022-04-01_10-05-14-1024x469.png\" alt=\"\" width=\"660\" height=\"302\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/UKOIL_2022-04-01_10-05-14-1024x469.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/UKOIL_2022-04-01_10-05-14-300x138.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/UKOIL_2022-04-01_10-05-14-768x352.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/UKOIL_2022-04-01_10-05-14.png 1357w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/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 moving above the ichimoku cloud, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 36470 from our 1st support at 32608. Alternatively, price may break 1st support structure and head for 2nd support at 29878 in line with the horizontal overlap support.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the daily, with price moving above the ichimoku cloud, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 35818 in line with the 127.2% Fibonacci extension from our 1st support at 34051 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support at 32594 in line with the horizontal swing low support.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving above the ichimoku cloud, we have a bias that <\/span><span style=\"font-weight: 400;\">price will rise to our 1st resistance at 34673 in line with the 127.2% Fibonacci extension from our 1st support at 34059 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support at 35623 in line with the horizontal swing low support.<\/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 support at<\/span><span style=\"font-weight: 400;\"> 34059\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st resistance at <\/span><span style=\"font-weight: 400;\">34673<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DJI_2022-04-01_10-10-06.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53269\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DJI_2022-04-01_10-10-06-1024x469.png\" alt=\"\" width=\"660\" height=\"302\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DJI_2022-04-01_10-10-06-1024x469.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DJI_2022-04-01_10-10-06-300x138.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DJI_2022-04-01_10-10-06-768x352.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DJI_2022-04-01_10-10-06.png 1357w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/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<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the H4, with price moving above the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 34673 in line with the 127.2% Fibonacci extension from our 1st support at 34059 in line with the horizontal pullback support.<\/p>\n","protected":false},"author":8,"featured_media":53267,"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\/53266"}],"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=53266"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/53266\/revisions"}],"predecessor-version":[{"id":53280,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/53266\/revisions\/53280"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/53267"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=53266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=53266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=53266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}