XAU/USD (GOLD):
On the H4, with prices bouncing off the ichimoku cloud and breakout from descending trend line, As per the Encore Capitals Analyst gold will bullish bias that price will rise from our 1st support at 1842.65 where the horizontal swing low support is to 1st resistance at 1864.72 in line with the horizontal swing high resistance, 61.8% Fibonacci retracement and 38.2% Fibonacci retracement. Secondly, price can break our 1st support structure and head for our 2nd support at 1834.67 where the horizontal overlap support and 38.2% Fibonacci retracement are.
Areas of Major Support & Resistance:
H4 time frame, 1st Resistance at 1864.78
H4 time frame, 1st Support at 1842.69
GBP/USD:
On the H4, Price moving above the ichimoku indicator, Its bullish bias according to Encore Capitals Analyst that price will rise from the 1st support at 1.25496 where the horizontal overlap support is to 1st resistance at 1.26703 in line with the 61.8% Fibonacci retracement, 100% Fibonacci projection and swing high resistance. Secondly, price may break 1st support structure and head for 2nd support at 1.24741 where the horizontal overlap support available.
Areas of Major Support & Resistance:
H4 1st resistance at 1.26708
H4 1st support at 1.25494
EUR/USD:
On the H4, Price moving above the ichimoku cloud and within the ascending trend channel, Its bullish bias according to Encore Capitals Analyst that price will rise to our 1st overlap resistance at 1.08595 where the 61.8% Fibonacci retracement is from our 1st support at 1.07495. Secondly, price may break 1st support structure and head for 2nd support at 1.0542 in line with the 23.6% Fibonacci retracement.
Areas of Major Support & Resistance:
H4 1st resistance at 1.08591
H4 1st support at 1.07492
USD/JPY:
On the H4,Prices breaking above the ichimoku indicator and breakout from descending trend line, Bullish bias according to Encore Capitals Analyst that price will rise from 1st support at 128.070 where the horizontal overlap resistance and 78.6% Fibonacci projection are to 1st resistance at 128.899 in line with the swing high resistance, 127.2% Fibonacci extension and 78.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 127.164 where the horizontal overlap support available.
Areas of Major Support & Resistance:
H4 time frame, 1st resistance at 128.899
H4 time frame, 1st support at 128.070
CRUDE OIL:
On the H4, Price expected to reverse off the stochastic indicator, Bearish bias according to Encore Capitals Analyst that price will drop to our 1st support at 112 where the 23.6% Fibonacci retracement is from our 1st resistance at 119.02 in line with the swing high resistance. Secondly, price may break 1st resistance structure and head for 2nd resistance at 123.10 where the 127.2% Fibonacci extension is.
Areas of Major Support & Resistance:
H4 time frame, 1st resistance of 119.02
H4 time frame, 1st support of 112