{"id":53894,"date":"2022-04-29T16:22:14","date_gmt":"2022-04-29T06:22:14","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=53894"},"modified":"2022-04-29T16:22:14","modified_gmt":"2022-04-29T06:22:14","slug":"29th-april-2022-friday-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/29th-april-2022-friday-technical-outlook-and-review\/","title":{"rendered":"29th April 2022 Friday: 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, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the 127.2% Fibonacci extension is from our 1st support in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback support is.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the weekly resistance is from our 1st support in line with the weekly support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.<\/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;\">with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the weekly resistance is from our 1st support in line with the weekly support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.<\/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 106.831<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 102.006<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-29_04-33-25.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53898\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-29_04-33-25-1024x538.png\" alt=\"\" width=\"660\" height=\"347\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-29_04-33-25-1024x538.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-29_04-33-25-300x158.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-29_04-33-25-768x403.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/DXY_2022-04-29_04-33-25.png 1123w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">XAU\/USD (GOLD):<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the Weekly, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance\u00a0 where the swing high resistance is from our 1st support at 1875 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the 78.6% Fibonacci retracement and swing low support is.<\/span><span style=\"font-weight: 400;\"><\/p>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance where the horizontal pullback resistance is to our 1st support in line with the horizontal pullback support and 138.2% Fibonacci extension is. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance is.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance where the 61.8% Fibonacci retracement is to our 1st support in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance is.<\/span><\/p>\n<p><b>Areas of consideration:\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame<\/span><span style=\"font-weight: 400;\">, 1st Resistance at 1896<\/span><\/li>\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;\">1873<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GC1_2022-04-29_04-20-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53901\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GC1_2022-04-29_04-20-01-1024x538.png\" alt=\"\" width=\"660\" height=\"347\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GC1_2022-04-29_04-20-01-1024x538.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GC1_2022-04-29_04-20-01-300x158.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GC1_2022-04-29_04-20-01-768x403.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GC1_2022-04-29_04-20-01.png 1123w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">GBP\/USD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the weekly, we expect price to potentially bounce from 1st support level of 1.23627 in line with 61.8% fibonacci retracement towards the 1st resistance level of\u00a0 1.33634 in line with 50% fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, we expect price to potentially bounce from 1st support level of 1.24385 in line with 61.8% fibonacci retracement towards the 1st resistance level of\u00a0 1.34739 in line with 78.6% fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, we have a bullish bias that price will bounce from 1st support level of 1.24099 which lines up with a major 61.8% fibonacci retracement towards the 1st resistance level of 1.28160 which lines up 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 1st resistance at <\/span><span style=\"font-weight: 400;\">1.28160<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at <\/span><span style=\"font-weight: 400;\">1.24099<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 2nd support at 1.22589<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-29_12-15-16.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53900\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-29_12-15-16-1024x470.png\" alt=\"\" width=\"660\" height=\"303\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-29_12-15-16-1024x470.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-29_12-15-16-300x138.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-29_12-15-16-768x353.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/GBPUSD_2022-04-29_12-15-16.png 1282w\" 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, we expect that price will potentially reverse from 1st resistance level of 0.99037 in line with 78.6% fibonacci retracement, 161.8% fibonacci extension and100% fibonacci projection towards the 1st support level of 0.94710 in line with 23.6% fibonacci retracement and 61.8% fibonacci projection.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, <\/span><span style=\"font-weight: 400;\">we expect that price will potentially reverse from 1st resistance level of 0.99000 in line with 78.6% fibonacci retracement and 161.8% fibonacci extension towards the 1st support level of 0.94692 in line with 50% fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, we expect that price will potentially reverse from 1st resistance level of 0.97552 in line with a major 127.2% fibonacci extension towards the 1st support level of 0.95978 in line with 23.6% 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;\">1st support level at 0.95978<\/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;\">0.97552<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2nd resistance level at 0.98939<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-29_13-16-34.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53904\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-29_13-16-34-1024x470.png\" alt=\"\" width=\"660\" height=\"303\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-29_13-16-34-1024x470.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-29_13-16-34-300x138.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-29_13-16-34-768x353.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCHF_2022-04-29_13-16-34.png 1282w\" 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 expect price to potentially bounce from 1st support level of 1.03541 in line with 100% fibonacci projection and 127.2% fibonacci extension towards 1st resistance level of 1.14817 in line with 61.8% fibonacci retracement and 61.8% fibonacci projection.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, we expect price to potentially bounce from 1st support level of 1.03443 in line with 100% fibonacci projection, -27.2% fibonacci expansion and 127.2% fibonacci extension towards 1st resistance level of 1.11634 in line with 38.2% fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, price is near the pivot level. We expect price to potentially rise from 1st support level of 1.04711 in line with 100% fibonacci projection and -61.8% fibonacci expansion towards the 1st resistance level of 1.07603 in line with 61.8% fibonacci retracement.<\/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 <\/span><span style=\"font-weight: 400;\">1.07603<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at 1.04711<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 2nd support at 1.03412<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-29_12-50-47.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53899\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-29_12-50-47-1024x470.png\" alt=\"\" width=\"660\" height=\"303\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-29_12-50-47-1024x470.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-29_12-50-47-300x138.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-29_12-50-47-768x353.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/EURUSD_2022-04-29_12-50-47.png 1282w\" 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, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the s127.2% Fibonacci extension is from our 1st support in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback support is.<\/span><span style=\"font-weight: 400;\"><\/p>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the weekly resistance is from our 1st support in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback support is.<\/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;\">with price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the 200% Fibonacci extension is from our 1st support in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/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 131.770<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 129.320<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-29_04-40-16.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53905\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-29_04-40-16-1024x538.png\" alt=\"\" width=\"660\" height=\"347\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-29_04-40-16-1024x538.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-29_04-40-16-300x158.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-29_04-40-16-768x403.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDJPY_2022-04-29_04-40-16.png 1123w\" 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 timeframe, we see the potential of a bullish bounce from 1st support level of 0.69777 in line with 38.2% fibonacci retracement and 61.8% fibonacci projection towards the 1st resistance level of 61.8% fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily timeframe, we expect to see a potential of a bullish bounce from 1st support level of 0.69693 in line with 38.2% fibonacci retracement towards the 1st resistance level of 0.73111 in line with 38.2% fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4 timeframe, <\/span><span style=\"font-weight: 400;\">price is near the key support level, We see the potential of a <\/span><span style=\"font-weight: 400;\">bullish bounce from 1st support level of 0.70576 in line with 127.2% fibonacci extension towards the 1st resistance level of 0.72476 in line with 50% fibonacci retracement. Otherwise, price might break the key support level to trigger a dip towards the 2nd support of 0.69695 which is in line with 138.2% fibonacci extension.<\/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 <\/span><span style=\"font-weight: 400;\">0.72476<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 1st support at <\/span><span style=\"font-weight: 400;\">0.70576<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 2nd support at 0.69695<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-29_09-56-04.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53896\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-29_09-56-04-1024x575.png\" alt=\"\" width=\"660\" height=\"371\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-29_09-56-04-1024x575.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-29_09-56-04-300x168.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-29_09-56-04-768x431.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/AUDUSD_2022-04-29_09-56-04.png 1049w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/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 bullish bounce from 1st support level of 0.64242 in line with 50% fibonacci retracement and 61.8% fibonacci projection towards the 1st resistance level of 0.70404 in line with 50% fibonacci retracement and 100% fibonacci projection.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the daily, we see the potential for a bullish bounce from 1st support level of 0.64214 in line with 50% fibonacci retracement and 127.2% fibonacci extension towards the 1st resistance level of 0.70300 in line with 100% fibonacci projection.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, we see the potential of bullish bounce from 1st support level of 0.64554 in line up with a major 50% fibonacci retracement towards the 1st resistance level of 0.66343 in line with 50% fibonacci retracement.\u00a0<\/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;\">0.64554<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at 0.66343<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 2nd support at 0.63840<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-29_10-26-38.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53902\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-29_10-26-38-1024x575.png\" alt=\"\" width=\"660\" height=\"371\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-29_10-26-38-1024x575.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-29_10-26-38-300x168.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-29_10-26-38-768x431.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/NZDUSD_2022-04-29_10-26-38.png 1049w\" 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, with no clear indication of where price is going, we have a bias that price will continue to move within our rectangle with support at 1.24623 and resistance at 1.29559.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the Daily, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop from our 1st resistance where the swing high resistance is to our 1st support in line with the 78.6% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance is.<\/span><\/p>\n<p>&nbsp;<\/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 1.28649 where the swing high resistance is from our 1st support at 1.27790 in line with the horizontal pullback support, 23.6% and 50% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support and 50% Fibonacci retracement is.<\/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 1.28649<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 1.27790<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-29_04-56-01.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53903\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-29_04-56-01-1024x538.png\" alt=\"\" width=\"660\" height=\"347\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-29_04-56-01-1024x538.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-29_04-56-01-300x158.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-29_04-56-01-768x403.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/USDCAD_2022-04-29_04-56-01.png 1123w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\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 moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the swing high resistance is from our 1st support in line with the horizontal pullback support and 61.8% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal swing low support is.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price expected to reverse off the resistance of the ichimoku cloud and the resistance of the triangle, we have a bearish bias that price will drop from our 1st resistance at <\/span><span style=\"font-weight: 400;\">108.10<\/span><span style=\"font-weight: 400;\"> where the swing high resistance and 61.8% Fibonacci retracement is to our 1st support at <\/span><span style=\"font-weight: 400;\">98.06<\/span><span style=\"font-weight: 400;\"> in line with the horizontal swing low support and 61.8% Fibonacci retracement. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance and 161.8% Fibonacci extension at 117.09.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price expected to reverse off the resistance of the stochastics indicator and the resistance of the descending trendline, we have a bearish bias that price will drop from our 1st resistance at <\/span><span style=\"font-weight: 400;\">105.56<\/span><span style=\"font-weight: 400;\"> where the swing high resistance and 78.6% Fibonacci retracement is to our 1st support at <\/span><span style=\"font-weight: 400;\">96.82<\/span><span style=\"font-weight: 400;\"> in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance at 108.78.<\/span><span style=\"font-weight: 400;\"><\/p>\n<p><\/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 of 105.56<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support of 96.82<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/CL1_2022-04-29_04-12-11.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53897\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/CL1_2022-04-29_04-12-11-1024x590.png\" alt=\"\" width=\"660\" height=\"380\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/CL1_2022-04-29_04-12-11-1024x590.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/CL1_2022-04-29_04-12-11-300x173.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/CL1_2022-04-29_04-12-11-768x442.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/CL1_2022-04-29_04-12-11.png 1123w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\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 expected to bounce off the support of the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance where the swing high resistance is from our 1st support in line with the horizontal swing low support and 23.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support where the horizontal pullback support and 38.2% Fibonacci retracement is.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the Daily, with price expected to reverse off the resistance of the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance where the pullback resistance and 38.2% Fibonacci retracement is to our 1st support in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance and 61.8% Fibonacci retracement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at <\/span><span style=\"font-weight: 400;\">30415<\/span><span style=\"font-weight: 400;\"> where the swing high resistance and 38.2% Fibonacci retracement is to our 1st support at <\/span><span style=\"font-weight: 400;\">33005<\/span><span style=\"font-weight: 400;\"> in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance and 50% Fibonacci retracement.<\/span><\/p>\n<p><b>Areas of consideration :\u00a0<\/b><\/p>\n<ul>\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;\">30415<\/span><\/li>\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;\">33005<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/YM1_2022-04-29_04-46-15.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-53906\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/YM1_2022-04-29_04-46-15-1024x538.png\" alt=\"\" width=\"660\" height=\"347\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/YM1_2022-04-29_04-46-15-1024x538.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/YM1_2022-04-29_04-46-15-300x158.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/YM1_2022-04-29_04-46-15-768x403.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/04\/YM1_2022-04-29_04-46-15.png 1123w\" 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 Daily, with price expected to reverse off the resistance of the ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance where the pullback resistance and 38.2% Fibonacci retracement is to our 1st support in line with the horizontal swing low support.<\/p>\n","protected":false},"author":8,"featured_media":53895,"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\/53894"}],"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=53894"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/53894\/revisions"}],"predecessor-version":[{"id":53907,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/53894\/revisions\/53907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/53895"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=53894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=53894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=53894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}