{"id":55321,"date":"2022-07-04T12:57:30","date_gmt":"2022-07-04T02:57:30","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=55321"},"modified":"2022-07-04T12:57:30","modified_gmt":"2022-07-04T02:57:30","slug":"04th-july-2022-monday-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/04th-july-2022-monday-technical-outlook-and-review\/","title":{"rendered":"04th July 2022 Monday: Technical Outlook and Review"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">DXY:<\/span><\/h2>\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 RSI moving along an ascending trendline and prices moving along the ascending trendline, we have a bullish bias that bullish momentum will carry prices to 1st resistance at 105.794 where the swing high resistance and 161.8% fibonacci extension are. Once we have upside confirmation, we would expect bullish momentum to carry prices to 2nd resistance at 107.265 in line with 161.8% fibonacci extension, 78.6% fibonacci projection and 78.6% fibonacci projection. Alternatively, price may drop to 1st support at 103.401 where the horizontal swing low support and 50% fibonacci retracement are.<\/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 <\/span><span style=\"font-weight: 400;\">105.794<\/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;\">103.401<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-04_09-35-28.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55325\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-04_09-35-28-1024x593.png\" alt=\"\" width=\"660\" height=\"382\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-04_09-35-28-1024x593.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-04_09-35-28-300x174.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-04_09-35-28-768x445.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-04_09-35-28.png 1508w\" 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;\">On the H4, with prices moving below the ichimoku indicator and along a descending trendline, we have a bearish bias that prices will drop to our 1st support at 1805.14 where the horizontal pullback support is. Once we have downside confirmation, we would expect bearish momentum to carry price to 2nd support at 1784.52 in line with swing low support and 127.2% fibonacci extension. Alternatively, price could rise to our 1st resistance\u00a0 at 1829.18 in line with overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection.<\/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 1829.18<\/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;\">1805.14<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-04_09-29-08.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55332\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-04_09-29-08-1024x592.png\" alt=\"\" width=\"660\" height=\"382\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-04_09-29-08-1024x592.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-04_09-29-08-300x173.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-04_09-29-08-768x444.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-04_09-29-08.png 1508w\" 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 H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will rise and drop from our 1st resistance at 1.21570 where the horizontal overlap resistance, 100% fibonacci projection and 50% fibonacci retracement are to our 1st support at 1.19313 where the horizontal swing low support and 78.6% fibonacci projection are. Alternatively, price could rise above 1st resistance structure and head to 2nd resistance at <\/span><span style=\"font-weight: 400;\">1.24065<\/span><span style=\"font-weight: 400;\"> in line with the swing high resistance.<\/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;\">1.21570<\/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;\"> 1.19313<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-04_10-04-28.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55327\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-04_10-04-28-1024x592.png\" alt=\"\" width=\"660\" height=\"382\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-04_10-04-28-1024x592.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-04_10-04-28-300x173.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-04_10-04-28-768x444.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-04_10-04-28.png 1508w\" 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 H4, with price moving below the <\/span><span style=\"font-weight: 400;\">ichimoku cloud<\/span><span style=\"font-weight: 400;\"> , we have a <\/span><span style=\"font-weight: 400;\">bearish<\/span><span style=\"font-weight: 400;\"> bias that price will continue to drop from the 1st resistance at 0.96375 in line with the horizontal pullback resistance and 23.6% <\/span><span style=\"font-weight: 400;\">Fibonacci retracement<\/span><span style=\"font-weight: 400;\"> to the 1st support at 0.94968 in line with the horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance where the 38.2% <\/span><span style=\"font-weight: 400;\">Fibonacci retracement<\/span><span style=\"font-weight: 400;\"> and pullback resistance 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;\">1st support level at <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">0.94968<\/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;\">0.96375<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-04_10-27-57.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55330\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-04_10-27-57-1024x596.png\" alt=\"\" width=\"660\" height=\"384\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-04_10-27-57-1024x596.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-04_10-27-57-300x174.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-04_10-27-57-768x447.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-04_10-27-57.png 1728w\" 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 H4, with price moving in a descending trendline and below the ichimoku cloud, we have a bearish bias that the price will drop from the 1st resistance at 1.03570 in line with the multiple swing lows and 61.8% Fibonacci projection to the 1st support at 1.02257 in line with the -27.2% fibonacci expansion and 100% Fibonacci projection. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.04828 at the pullback 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 1st resistance at <\/span><span style=\"font-weight: 400;\">1.03570<\/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;\">1.02257\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-04_10-48-12.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55326\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-04_10-48-12-1024x612.png\" alt=\"\" width=\"660\" height=\"394\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-04_10-48-12-1024x612.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-04_10-48-12-300x179.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-04_10-48-12-768x459.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-04_10-48-12.png 1515w\" 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 H4, with RSI moving along the descending trendline, we have a bearish bias that price will drop to our 1st support at 131.332 where the overlap support, 100% fibonacci projection and 50% fibonacci retracement are. Once there is downside confirmation, we would expect bearish momentum to carry price to our 2nd support at <\/span><span style=\"font-weight: 400;\">126.309<\/span><span style=\"font-weight: 400;\"> where the swing low support is . Alternatively, price may rise to 1st resistance at <\/span><span style=\"font-weight: 400;\">136.706<\/span><span style=\"font-weight: 400;\"> in line with the swing high resistance and 127.2% 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 resistance at <\/span><span style=\"font-weight: 400;\">136.706<\/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;\">131.332<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-04_09-48-38.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55331\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-04_09-48-38-1024x599.png\" alt=\"\" width=\"660\" height=\"386\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-04_09-48-38-1024x599.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-04_09-48-38-300x175.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-04_09-48-38-768x449.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-04_09-48-38.png 1508w\" 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 H4, with price moving in a bullish divergence on the RSI, we have a bullish bias that price will rise from the 1st support at 0.67678 at the swing low in line with the 61.8% fibonacci projection and 127.2% fibonacci extension to the 1st resistance at 0.70672 at the swing high in line with the 50% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 0.67042 in line with the 78.6% fibonacci projection and 161.8% fibonacci extension.\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<\/span><span style=\"font-weight: 400;\"> 0.70672\u00a0<\/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;\">0.67678<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-04_10-09-02.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55323\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-04_10-09-02-1024x574.png\" alt=\"\" width=\"660\" height=\"370\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-04_10-09-02-1024x574.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-04_10-09-02-300x168.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-04_10-09-02-768x430.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-04_10-09-02.png 1515w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">NZD\/USD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, with price recently bouncing off the confluence area at the 2nd support, we have a bullish bias that price will continue to rise from the 1st support at 0.61978 at the pullback support in line with the 78.6% fibonacci projection and 161.8% fibonacci extension to the 1st resistance at 0.63252 at the swing high in line with the 61.8% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 0.61507 in line with the 61.8% fibonacci projection and -61.8% fibonacci expansion.<\/span><\/p>\n<p><b>Areas of consideration:<\/b><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at\u00a0 <\/span><span style=\"font-weight: 400;\">0.61978\u00a0<\/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;\">0.63252<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-04_09-34-30.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55328\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-04_09-34-30-1024x574.png\" alt=\"\" width=\"660\" height=\"370\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-04_09-34-30-1024x574.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-04_09-34-30-300x168.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-04_09-34-30-768x430.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-04_09-34-30.png 1515w\" 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 H4, with price expected to reverse off the <\/span><span style=\"font-weight: 400;\">ichimoku cloud<\/span><span style=\"font-weight: 400;\"> , we have a <\/span><span style=\"font-weight: 400;\">bearish<\/span><span style=\"font-weight: 400;\"> bias that price will continue to drop from the 1st resistance <\/span><span style=\"font-weight: 400;\">at 1.29529 in line with the horizontal swing high resistance and 50% Fibonacci retracement\u00a0 to the 1st support at 1.28039<\/span> <span style=\"font-weight: 400;\">in line with the 50% Fibonacci retracement and horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.30112 where the 78.6% Fibonacci retracement and horizontal swing high resistance 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 1.29529<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 1.28039<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-04_10-35-40.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55329\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-04_10-35-40-1024x605.png\" alt=\"\" width=\"660\" height=\"390\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-04_10-35-40-1024x605.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-04_10-35-40-300x177.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-04_10-35-40-768x454.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-04_10-35-40.png 1113w\" 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;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, with price expected to reverse off the <\/span><span style=\"font-weight: 400;\">ichimoku cloud<\/span><span style=\"font-weight: 400;\"> , we have a <\/span><span style=\"font-weight: 400;\">bearish<\/span><span style=\"font-weight: 400;\"> bias that price will continue to drop from the 1st resistance <\/span><span style=\"font-weight: 400;\">at 109.36 in line with the horizontal swing high resistance and 50% Fibonacci retracement to the 1st support at 104.41<\/span> <span style=\"font-weight: 400;\">in line with the 78.6% Fibonacci retracement and horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 113.79 where the horizontal swing high resistance 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 of<\/span><span style=\"font-weight: 400;\"> 109.36<\/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;\"> 104.41<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/CL1_2022-07-04_10-31-44.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55324\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/CL1_2022-07-04_10-31-44-1024x558.png\" alt=\"\" width=\"660\" height=\"360\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/CL1_2022-07-04_10-31-44-1024x558.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/CL1_2022-07-04_10-31-44-300x163.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/CL1_2022-07-04_10-31-44-768x418.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/CL1_2022-07-04_10-31-44.png 1728w\" 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;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, with price moving along an ascending channel and expected to break out of the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 30862 where the horizontal pullback support and 38.2% Fibonacci retracement are to our 1st resistance at 31866 in line with the horizontal swing high resistance and 61.8% fibonacci retracement. Alternatively, price may break 1st support and head for 2nd support at 30149 where the horizontal swing low support and 78.6% fibonacci retracement are. Take note we are waiting for the break of the 1st resistance to confirm the bullish move.\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 resistance of <\/span><span style=\"font-weight: 400;\">31866<\/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;\">30862<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/YM1_2022-07-04_10-28-05.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55333\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/YM1_2022-07-04_10-28-05-1024x558.png\" alt=\"\" width=\"660\" height=\"360\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/YM1_2022-07-04_10-28-05-1024x558.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/YM1_2022-07-04_10-28-05-300x163.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/YM1_2022-07-04_10-28-05-768x418.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/YM1_2022-07-04_10-28-05.png 1728w\" 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 along an ascending channel and expected to break out of the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 30862 where the horizontal pullback support and 38.2% Fibonacci retracement are to our 1st resistance at 31866 in line with the horizontal swing high resistance and 61.8% fibonacci retracement. <\/p>\n","protected":false},"author":8,"featured_media":55322,"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\/55321"}],"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=55321"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/55321\/revisions"}],"predecessor-version":[{"id":55334,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/55321\/revisions\/55334"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/55322"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=55321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=55321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=55321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}