Market analysis from IC Markets
EURUSD is approaching our first resistance at 1.1814 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.1734 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (55,3) is also approaching...
EURAUD bounced off his support at 1.5444 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) and we expect it to rise further to its resistance at 1.5655 (horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.5555 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic...
XAUUSD reversed nicely off its resistance at 1307 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance) where price could potentially fall to its support at 1293 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) reversed nicely off the resistance at 96% where a...
AUDNZD is testing is support at 1.0723 (76,4% Fibonacci retracement, 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support) where price could rise to its resistance at 21.0837 (61.8% Fibonacci retracement, horizontal overlap resistance) Stochastic (55, 5, 3) is approaching its support at 4.5% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.3130 (100% Fibonacci extension x3, horizontal swing high resistance) where a reversal could occur, causing price to fall to its support at 1.2918 (100% Fibonacci extension, 74.6% Fibonacci retracement, horizontal swing low). Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
EURAUD is approaching its resistance at 1.5623 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially react off, causing price to fall to its support at 1.5444 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) Stochastic (55, 5, 3) is approaching resistance at 95%...
AUDUSD is approaching its support at 0.7560 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we a bounce could occur, causing price to rise to its resistance at 0.7659 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 9.6% where a corresponding bounce...
AUDNZD is approaching its support at 1.0762 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap support) where a bounce could occur, causing price to rise to its resistance at 1.0891 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at...
GBPJPY is approaching its resistance at 148.24 (50% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse, causing price to fall to its support at 146.25 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching resistance at 95% where a corresponding reaction...
EURCHF bounced off its support at 1.1581 (61.8% Fibonacci extension, 61.8% & 38.2% & 23.6% Fibonacci retracement, horizontal overlap support) where we price could rise to its resistance at 1.1658 (61.8% Fibonacci extension, horizontal swing high resistance). Stochastic (55, 5, 3) bounced off its intermediate support at 10% where a corresponding rise could occur.
USDCAD is approaching its resistance at 1.3067 (61.8% Fibonacci extension x4, horizontal swing high resistance) where we a reversal could occur, causing price to fall to its support at 1.2862 (38.2% Fibonacci retracement, horizontal swing low). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURUSD reversed nicely off its resistance at 1.1825 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall further to its support at 1.1647 (horizontal overlap support, 61.8% Fibonacci retracement). We do have to be cautious of the intermediate support at 1.1741 (61.8% Fibonacci extension, 50%...
USDJPY is approaching its support at 109.22 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where prices could rise to its resistance at 110.13 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is also approaching its support at 5.2% where a corresponding bounce is could occur.
EURGBP bounced off its support at 0.8764 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we expect prices to rise further to its resistance at 0.8831 (61.8% Fibonacci extension, horizontal swing high resistance). Stochastic (34, 5, 3) made a corresponding bounce off its support at 9.6% where it could rise further.
AUDJPY is approaching its resistance at 84.47 (100% Fibonacci extension, 61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where price could reverse, causing it to fall to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.75 (50% Fibonacci...
NZDUSD is approaching its support at 0.6995 (100% Fibonacci extension, 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price could bounce off from here to its resistance at 0.7054 (horizontal swing high resistance). Stochastic (34, 5, 3) is approaching its support at 6.41% where a corresponding bounce could occur.
EURAUD reversed off its resistance at 1.5515 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where price could drop to its support at 1.5289 (horizontal swing low support). We do have to be cautious of the intermediate support at 1.5385 (50% Fibonacci retracement, horizontal overlap support)....
SPX500 is approaching its resistance at 2802 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizotnal swing high resistance) where a potential reversal might occur, causing price to fall to its support at 2675 (horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.