{"id":55658,"date":"2022-07-20T15:08:22","date_gmt":"2022-07-20T05:08:22","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=55658"},"modified":"2022-07-20T15:08:22","modified_gmt":"2022-07-20T05:08:22","slug":"20th-july-2022-wednesday-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/20th-july-2022-wednesday-technical-outlook-and-review\/","title":{"rendered":"20th July 2022 Wednesday: 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 prices having broken out of the ascending channel and reversing off the ichimoku indicator, we have a bearish bias that prices will rise and drop from the 1st resistance at 107.514 where the 61.8% fibonacci projection and 38.2% fibonacci retracement are to the 1st support at 105.653 where the pullback support is. Alternatively, prices could break 1st resistance and rise to 2nd resistance at 109.265 in line with 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 time frame, 1st resistance at <\/span><span style=\"font-weight: 400;\">107.514<\/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;\">105.653<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-20_09-24-28.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55662\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-20_09-24-28-1024x602.png\" alt=\"\" width=\"660\" height=\"388\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-20_09-24-28-1024x602.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-20_09-24-28-300x176.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-20_09-24-28-768x451.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/DXY_2022-07-20_09-24-28.png 1497w\" 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 price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will rise and drop from the 1st resistance at 1742.91 where the swing high resistance and 23.6% fibonacci retracement are to the 1st support at 1676.00 in line with the 100% fibonacci projection and swing low support on the daily timeframe. Take note of intermediate support at 1699.76 where the swing low support is. Alternatively, price could break 1st resistance on the upside and we would expect bullish momentum to carry prices to 2nd resistance at 1786.39 where the pullback resistance and 50% fibonacci retracement are.<\/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 1742.91<\/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;\">1676.00<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-20_09-16-11.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55670\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-20_09-16-11-1024x599.png\" alt=\"\" width=\"660\" height=\"386\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-20_09-16-11-1024x599.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-20_09-16-11-300x176.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-20_09-16-11-768x449.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/XAUUSD_2022-07-20_09-16-11.png 1497w\" 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 bouncing off the ichimoku indicator, RSI moving in an ascending trendline and price has broken out of the descending channel, we have a bullish bias that price will rise to the 1st resistance at 1.20469 where the 50% fibonacci retracement and swing high resistance are. Once there is upside confirmation that price has broken the 1st resistance, we would expect bullish momentum to carry prices to 2nd resistance at 1.21628 where the swing high resistance and 127.2% fibonacci extension are. Alternatively, price could drop to the 1st support at 1.19320 where the pullback support and 38.2% 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 1st resistance at <\/span><span style=\"font-weight: 400;\">1.20469<\/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;\"> 1.19320<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-20_10-00-30.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55664\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-20_10-00-30-1024x601.png\" alt=\"\" width=\"660\" height=\"387\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-20_10-00-30-1024x601.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-20_10-00-30-300x176.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-20_10-00-30-768x450.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/GBPUSD_2022-07-20_10-00-30.png 1497w\" 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 breaking the bullish channel, we have a bearish bias that price might drop from our 1st\u00a0 support at 0.96845 where the 50% fibonacci retracement is\u00a0 to our 2nd support at 0.96434 in line with the 61.8% fibonacci retracement. Alternatively, price may not break 1st support and head for 1st resistance at 0.97340 where the 38.2% fibonacci retracement is. Take note that as the price is showing a \u201cdouble top\u201d pattern, the price may drop approximately the same height as the double top formation from the neckline.<\/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\u00a0 support<\/span><span style=\"font-weight: 400;\"> level at<\/span><span style=\"font-weight: 400;\">\u00a0 0.96845<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">2nd support<\/span><span style=\"font-weight: 400;\"> level at<\/span> <span style=\"font-weight: 400;\">\u00a00.96434<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-20_09-47-43.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55668\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-20_09-47-43-1024x617.png\" alt=\"\" width=\"660\" height=\"398\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-20_09-47-43-1024x617.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-20_09-47-43-300x181.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-20_09-47-43-768x463.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCHF_2022-07-20_09-47-43.png 1504w\" 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 recently breaking out of the descending trend channel, we have a bullish bias that price will continue to rise from the 1st support at 1.02158 in line with the 38.2% fibonacci retracement and 100% fibonacci projection to the 1st resistance at 1.03570 at the pullback resistance in line with the 61.8% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 1.01213 at the pullback support.\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 <\/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;\">1.02158<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-20_09-49-09.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55663\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-20_09-49-09-1024x507.png\" alt=\"\" width=\"660\" height=\"327\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-20_09-49-09-1024x507.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-20_09-49-09-300x148.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-20_09-49-09-768x380.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/EURUSD_2022-07-20_09-49-09.png 1833w\" 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;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, with price moving above the ichimoku indicator and along the ascending trendline, we have a bullish bias that price will rise to our 1st resistance at 137.785 where the 61.8% fibonacci projection and swing high resistance are from our 1st support at 137.785 in line with pullback support. Alternatively, prices could break 1st support structure and drop to 2nd support at 136.661 where the overlap support and 38.2% 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;\">\u00a0139.377<\/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;\">137.785<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-20_09-43-55.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55669\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-20_09-43-55-1024x601.png\" alt=\"\" width=\"660\" height=\"387\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-20_09-43-55-1024x601.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-20_09-43-55-300x176.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-20_09-43-55-768x450.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDJPY_2022-07-20_09-43-55.png 1497w\" 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 recently breaking the descending trend channel and moving above the ichimoku cloud, we have a bullish bias that price will continue to rise. If price breaks the resistance at the 1st resistance at 0.69138 at the overlap resistance in line with the 61.8% fibonacci retracement and 100% fibonacci projection, we will have upside confirmation that price will rise to the 2nd resistance at 0.70696 at the swing high in line with the 50% fibonacci retracement. Alternatively, price may reverse off the 1st resistance and drop to the 1st support at 0.68608 at the pullback swing low.\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;\">0.69138<\/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;\">0.68608<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-20_10-16-48.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55660\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-20_10-16-48-1024x579.png\" alt=\"\" width=\"660\" height=\"373\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-20_10-16-48-1024x579.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-20_10-16-48-300x170.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-20_10-16-48-768x434.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/AUDUSD_2022-07-20_10-16-48.png 1504w\" 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 breaking out of the descending trend channel and price moving above the ichimoku cloud, we have a bullish bias that price will continue to rise from the 1st support at 0.62448 at the overlap support in line with the 50% fibonacci retracement and 78.6% fibonacci projection to the 1st resistance at 0.63246 at the swing high in line with the 78.6% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 0.61995 at the overlap swing low.<\/span><\/p>\n<p><b>Areas of consideration:<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">H4 time frame, 1st support at <\/span><span style=\"font-weight: 400;\">\u00a00.60809<\/span><\/li>\n<li><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at <\/span><span style=\"font-weight: 400;\">0.61424<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-20_10-04-41.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55665\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-20_10-04-41-1024x579.png\" alt=\"\" width=\"660\" height=\"373\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-20_10-04-41-1024x579.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-20_10-04-41-300x170.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-20_10-04-41-768x434.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/NZDUSD_2022-07-20_10-04-41.png 1504w\" 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 breaking the ascending trendline and moving with a descending line,\u00a0 we have a bearish bias that price will rise from our 1st support at 1.28990 where the 78.6% fibonacci retracement to our 2nd support at 1.28188 where the swing low support is.Alternatively, price may break the support structure at the 1st support and rise to the 1st resistance at 1.29907 where the 38.2% fibonacci retracement is.\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, 2nd support at 1.28188\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 1.28990<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-20_10-25-32.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55667\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-20_10-25-32-1024x618.png\" alt=\"\" width=\"660\" height=\"398\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-20_10-25-32-1024x618.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-20_10-25-32-300x181.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-20_10-25-32-768x463.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/USDCAD_2022-07-20_10-25-32.png 1504w\" 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;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, with price moving along the descending channel and testing the overlap resistance, we have a bearish bias that price will drop to our 1st support at 100.533. Once there is downside confirmation of price breaking 1st support, we would expect bearish momentum to carry price to 2nd support at 95.744 where the swing low support is.\u00a0 Alternatively, price may rise to 1st resistance at 109.277 in line with 61.8% fibonacci fibonacci retracement. Should price break 1st resistance, we would have a bullish bias that price would rise to 2nd resistance at 113.233 where the 127.2% fibonacci retracement 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;\"> 109.277<\/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;\"> 100.533<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/BCOUSD_2022-07-20_10-03-02.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55661\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/BCOUSD_2022-07-20_10-03-02-1024x618.png\" alt=\"\" width=\"660\" height=\"398\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/BCOUSD_2022-07-20_10-03-02-1024x618.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/BCOUSD_2022-07-20_10-03-02-300x181.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/BCOUSD_2022-07-20_10-03-02-768x463.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/BCOUSD_2022-07-20_10-03-02.png 1504w\" 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;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">On the H4, with price moving in a bearish channel, crossing the ichimoku cloud,\u00a0 having a bullish break, we have a bullish bias that price might rise from our 1st support at 31999 , which is in line with the pullback resistance and 38.2% fibonacci retracement to our 1st resistance at 32677, which is in line with 50% fibonacci retracement. Alternatively, price may reverse off the 1st support and drop to the 2nd support at 31011, which is in line with the 23.6% fibonacci retracement.<\/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 support of\u00a0 31986<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at 32626<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/US30_2022-07-20_12-59-44.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-large wp-image-55666\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/US30_2022-07-20_12-59-44-1024x618.png\" alt=\"\" width=\"660\" height=\"398\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/US30_2022-07-20_12-59-44-1024x618.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/US30_2022-07-20_12-59-44-300x181.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/US30_2022-07-20_12-59-44-768x463.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/07\/US30_2022-07-20_12-59-44.png 1504w\" sizes=\"(max-width: 660px) 100vw, 660px\" \/><\/a><\/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<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the H4, with price moving in a bearish channel, crossing the ichimoku cloud,\u00a0 having a bullish break, we have a bullish bias that price might rise from our 1st support at 31999 , which is in line with the pullback resistance and 38.2% fibonacci retracement to our 1st resistance at 32677, which is in line with 50% fibonacci retracement.<\/p>\n","protected":false},"author":8,"featured_media":55659,"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\/55658"}],"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=55658"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/55658\/revisions"}],"predecessor-version":[{"id":55671,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/55658\/revisions\/55671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/55659"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=55658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=55658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=55658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}