{"id":56050,"date":"2022-08-08T14:53:19","date_gmt":"2022-08-08T04:53:19","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=56050"},"modified":"2022-08-08T14:53:19","modified_gmt":"2022-08-08T04:53:19","slug":"08th-august-2022-monday-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/08th-august-2022-monday-technical-outlook-and-review\/","title":{"rendered":"08th August 2022 Monday: Technical Outlook and Review"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">USD\/JPY:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, price is bullish biased as it\u2019s testing the first resistance at 135.599 which coincides with the 61.8% Fibonacci retracement and the previous swing low. If price breaks this level, it will move up to test at the second resistance which is the previous swing high at 137.506. Alternatively, price could pull back to test at the first support 132.467 which is the previous swing low\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 at 137.506<\/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;\">132.467<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY_2022-08-08_10-23-42.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56068\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY_2022-08-08_10-23-42-1024x529.png\" alt=\"\" width=\"660\" height=\"341\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY_2022-08-08_10-23-42-1024x529.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY_2022-08-08_10-23-42-300x155.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDJPY_2022-08-08_10-23-42-768x397.png 768w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">DXY:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, prices have broken the ascending trend into a bearish biased trend. Prices look like it&#8217;s pulling back to test at the first resistance 107.245 where the 38.2% Fibonacci retracement sits. If prices break the first resistance it will confirm a bullish momentum and prices will continue to move in an ascending trend. If prices movement continues in the descending trend, it will test at the first support 105.620 and then the second support at previous swing low 105.078<\/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;\">107.245<\/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;\">105.620<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/DXY_2022-08-08_10-00-56.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56059\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/DXY_2022-08-08_10-00-56-1024x529.png\" alt=\"\" width=\"660\" height=\"341\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DXY_2022-08-08_10-00-56-1024x529.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DXY_2022-08-08_10-00-56-300x155.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DXY_2022-08-08_10-00-56-768x397.png 768w\" sizes=\"auto, (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, prices have broken the bearish trend moving into a slightly bullish biased trend. Price is ranging and it seems like it\u2019s going back to test the first support at 1.011. If prices breaks the first support, it will pull back further to test at 50% Fibonacci retracement. Alternatively, If price fails to break the first support, it will test the first resistance at 50% retracement and 61.8% fibonacci projection 1.027<\/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 1.027<\/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;\">1.011<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD_2022-08-08_10-04-28.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56061\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD_2022-08-08_10-04-28-1024x529.png\" alt=\"\" width=\"660\" height=\"341\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD_2022-08-08_10-04-28-1024x529.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD_2022-08-08_10-04-28-300x155.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/EURUSD_2022-08-08_10-04-28-768x397.png 768w\" sizes=\"auto, (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 breaking the ascending channel we are now slightly bearish biased. Price is now testing the first support at 1.208 which coincides with 38.2% Fibonacci retracement. If price break supports and confirms downside trend, we would expect downside momentum to carry price to 2nd support at 1.194 61.8% Fibonacci retracement. Alternatively, price could bounce back to test at 78.6% Fibonacci retracement at 1.227<\/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;\">1.227<\/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;\"> 1.2106<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD_2022-08-08_10-08-05.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56062\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD_2022-08-08_10-08-05-1024x529.png\" alt=\"\" width=\"660\" height=\"341\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD_2022-08-08_10-08-05-1024x529.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD_2022-08-08_10-08-05-300x155.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/GBPUSD_2022-08-08_10-08-05-768x397.png 768w\" sizes=\"auto, (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, prices have signalled a slightly bearish momentum. It has rejected the 1st resistance at 0.966 which is also the 50% Fibonacci retracement to test at the 1st support 0.955 23.6% fibonacci retracement. If prices break this key level, it will pull back further to test at the second support at 0.947. Alternatively price could bounce back to test at 1st resistance 0.965 subsequently the second resistance at 0.97266<\/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;\">0.965<\/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;\"> 0.955<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/USDCHF_2022-08-08_10-19-15.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56067\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/USDCHF_2022-08-08_10-19-15-1024x529.png\" alt=\"\" width=\"660\" height=\"341\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCHF_2022-08-08_10-19-15-1024x529.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCHF_2022-08-08_10-19-15-300x155.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCHF_2022-08-08_10-19-15-768x397.png 768w\" sizes=\"auto, (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 breaking the ascending trendline, and the price and MACD is showing a bearish divergence, we have a bearish bias that the price may drop to the 1st support at 1751.55, which is in line with the 38.2% fibonacci retracement. If the price continues going down, it may drop to 2nd support at 1738.30, which is in line with 50% fibonacci retracement.<\/span> <span style=\"font-weight: 400;\">\u00a0Alternatively, prices may rise to 1st resistance at 1794.48,,which is in line with the swing high.<\/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 support at 1751.55<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame<\/span><span style=\"font-weight: 400;\">,\u00a0 2nd support at 1738.30<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD_2022-08-08_09-48-01.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56069\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD_2022-08-08_09-48-01-1024x626.png\" alt=\"\" width=\"660\" height=\"403\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD_2022-08-08_09-48-01-1024x626.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD_2022-08-08_09-48-01-300x183.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD_2022-08-08_09-48-01-768x470.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/XAUUSD_2022-08-08_09-48-01.png 1483w\" sizes=\"auto, (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 going along the descending trendline, below the ichimoku cloud and the DIF line is breaking below the signal line in MACD,\u00a0 we have a bearish bias that price may drop from the 1st support at 0.69224, where the pullback support is to the 2nd support at 0.68667 where the 50% fibonacci retracement and 78.6% fibonacci projection are. Alternatively, price may rise to the <\/span><span style=\"font-weight: 400;\">1st resistance<\/span><span style=\"font-weight: 400;\"> at 0.69838 which is in line with 61.8% fibonacci retracement and swing highs.\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 <\/span><span style=\"font-weight: 400;\">1st support at 0.69224<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 <\/span><span style=\"font-weight: 400;\">2nd support at 0.68667<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD_2022-08-08_12-26-07.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56054\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD_2022-08-08_12-26-07-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD_2022-08-08_12-26-07-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD_2022-08-08_12-26-07-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD_2022-08-08_12-26-07-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/AUDUSD_2022-08-08_12-26-07.png 1500w\" sizes=\"auto, (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 breaking\u00a0 the ascending trendline, the DIF line is breaking the signal line, we have a bearish bias that price may rise from the 1st support at 0.62189 where overlap support and 50% fibonacci retracement to the 2nd support at 0.61369 where 78.6% fibonacci retracement is.\u00a0 Alternatively, price may reverse off the 1st support and rise to 1st resistance at 0.62984 where the swing high resistance is. Take note the price of 0.61732 could be our intermediate support, which is in line with 61.8% fibonacci retracement.<\/span><\/p>\n<p><b>Areas of consideration:<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">H4 time frame, <\/span><span style=\"font-weight: 400;\">1st support at 0.62189<\/span><\/li>\n<li><span style=\"font-weight: 400;\">H4 time frame, <\/span><span style=\"font-weight: 400;\">2nd support at 0.61369<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/NZDUSD_2022-08-08_12-13-00.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56063\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/NZDUSD_2022-08-08_12-13-00-1024x626.png\" alt=\"\" width=\"660\" height=\"403\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/NZDUSD_2022-08-08_12-13-00-1024x626.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/NZDUSD_2022-08-08_12-13-00-300x183.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/NZDUSD_2022-08-08_12-13-00-768x470.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/NZDUSD_2022-08-08_12-13-00.png 1483w\" sizes=\"auto, (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 the price breaking the descending trendline and below ichimoku cloud, we have a bullish bias that the price may rise from our 1st resistance at 1.29451, which is in line with 100% fibonacci projection to our 2nd resistance at 1.30233, which is in line with the 161.8% fibonacci projection. Alternatively, the price may drop\u00a0 to the 1st support at 1.28835, which is in line with 50% fibonacci retracement and pullback support.\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 at 1.29451<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 2nd resistance at 1.30233<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/USDCAD_2022-08-08_10-12-16.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56066\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/USDCAD_2022-08-08_10-12-16-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCAD_2022-08-08_10-12-16-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCAD_2022-08-08_10-12-16-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCAD_2022-08-08_10-12-16-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/USDCAD_2022-08-08_10-12-16.png 1500w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h2><span style=\"font-weight: 400;\">OIL:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, with price almost touching the descending trendline, and the histogram of MACD is decreasing under zero while the DIF is breaking the DEA, we have a bullish bias that the price may rise from our 1st resistance at 98.703, which is in line with the overlap resistance to the 2nd resistance at 102.467, which is in line with the 23.6% fibonacci retracement and 38.2% fibonacci retracement. Otherwise, the price may drop to our 1st support at 95.639, where the swing low support 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, <\/span><span style=\"font-weight: 400;\">1st resistance at 98.703<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, <\/span><span style=\"font-weight: 400;\">2nd resistance at 102.467<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/BCOUSD_2022-08-08_10-21-45.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56055\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/BCOUSD_2022-08-08_10-21-45-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BCOUSD_2022-08-08_10-21-45-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BCOUSD_2022-08-08_10-21-45-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BCOUSD_2022-08-08_10-21-45-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BCOUSD_2022-08-08_10-21-45.png 1500w\" sizes=\"auto, (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;\">On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from the 1st support at 32654 where the pullback support is to the 1st resistance at 33467 where the swing high resistance, 161.8% fibonacci extension and -61.8% fibonacci expansion are. Alternatively, price could break 1st support structure and drop to 2nd support at 31924 where the pullback support, -61.8% fibonacci expansion, 38.2% fibonacci retracement and 78.6% fibonacci projection are. <\/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 <\/span><span style=\"font-weight: 400;\">33467<\/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;\"> 32654<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/US30_2022-08-08_09-52-15.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56065\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/US30_2022-08-08_09-52-15-1024x607.png\" alt=\"\" width=\"660\" height=\"391\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/US30_2022-08-08_09-52-15-1024x607.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/US30_2022-08-08_09-52-15-300x178.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/US30_2022-08-08_09-52-15-768x455.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/US30_2022-08-08_09-52-15.png 1476w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h2><span style=\"font-weight: 400;\">DAX:<\/span><\/h2>\n<p><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 1st resistance at 13693.88 where the pullback resistance is. Once there is upside confirmation of price breaking 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 14227.40 in line with 78.6% fibonacci projection and 78.6% fibonacci retracement. Alternatively, price could drop to 1st support at 13378.95 where the overlap support and 23.6% fibonacci retracement are.<\/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\u00a0 <\/span><span style=\"font-weight: 400;\">13693.88<\/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;\">13378.95<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/DAX_2022-08-08_09-46-44.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56058\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/DAX_2022-08-08_09-46-44-1024x608.png\" alt=\"\" width=\"660\" height=\"392\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DAX_2022-08-08_09-46-44-1024x608.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DAX_2022-08-08_09-46-44-300x178.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DAX_2022-08-08_09-46-44-768x456.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/DAX_2022-08-08_09-46-44.png 1476w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">ETHUSD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, with RSI moving along an ascending trendline and price moving within an ascending channel as well as above the ichimoku indicator, we have a bullish bias that price will rise from 1st support at 1676.28 where the pullback support and 38.2% fibonacci retracement are to the 1st resistance at 1792.30 where the swing high resistance, 127.2% fibonacci extension and 61.8% fibonacci projection are. Alternatively, price could break 1st support and drop to 2nd support at 1648.58\u00a0 where the overlap support, 61.8% fibonacci retracement and 100% fibonacci projection are.<\/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 <\/span><span style=\"font-weight: 400;\">1792.30<\/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;\">1676.28<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/ETHUSD_2022-08-08_09-23-12.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56060\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/ETHUSD_2022-08-08_09-23-12-1024x610.png\" alt=\"\" width=\"660\" height=\"393\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/ETHUSD_2022-08-08_09-23-12-1024x610.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/ETHUSD_2022-08-08_09-23-12-300x179.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/ETHUSD_2022-08-08_09-23-12-768x457.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/ETHUSD_2022-08-08_09-23-12.png 1476w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h2><span style=\"font-weight: 400;\">BTCUSD:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving within a bullish channel and RSI moving along an ascending trendline, we have a bullish bias that price will rise from our 1st support at 22560.82\u00a0 where the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection are to the 1st resistance at 24703.69 where the swing high resistance and 61.8% fibonacci projection are. Alternatively, price could break 1st support structure and drop to 2nd support at 20716.80 where the swing low support and 100% fibonacci projection 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 of <\/span><span style=\"font-weight: 400;\">24703.69<\/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;\"> 22560.82<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-08_09-30-29.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56056\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-08_09-30-29-1024x610.png\" alt=\"\" width=\"660\" height=\"393\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-08_09-30-29-1024x610.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-08_09-30-29-300x179.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-08_09-30-29-768x457.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-08_09-30-29.png 1476w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">S&amp;P 500:<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">On the H4, with price moving above the ichimoku indicator and within an ascending channel, we have a bullish bias that price will rise to our 1st resistance at 4182.68 where the swing high resistance and 100% fibonacci projection are. Once there is upside confirmation that price has broken the 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 4335.913 where the 127.2% fibonacci extension and 61.8% fibonacci projection are. Alternatively, price could drop to 1st support at 4087.73 where the overlap support, 23.6% fibonacci retracement and 61.8% fibonacci projection 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 of <\/span><span style=\"font-weight: 400;\">4182.68<\/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;\">4087.73<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/SPX_2022-08-08_09-34-41.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-56064\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/08\/SPX_2022-08-08_09-34-41-1024x604.png\" alt=\"\" width=\"660\" height=\"389\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/SPX_2022-08-08_09-34-41-1024x604.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/SPX_2022-08-08_09-34-41-300x177.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/SPX_2022-08-08_09-34-41-768x453.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/08\/SPX_2022-08-08_09-34-41.png 1476w\" sizes=\"auto, (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>USD\/JPY:<br \/>\nOn the H4, price is bullish biased as it\u2019s testing the first resistance at 135.599 which coincides with the 61.8% Fibonacci retracement and the previous swing low. If price breaks this level, it will move up to test at the second resistance which is the previous swing high at 137.506. Alternatively, price could pull back to test at the first support 132.467 which is the previous swing low<br \/>\nAreas of consideration:<br \/>\nH4 time frame, 1st resistance at 137.506<br \/>\nH4 time frame, 1st support at 132.467<\/p>\n<p>DXY:<br \/>\nOn the H4, prices have broken the ascending trend into a bearish biased trend. Prices look like it&#8217;s pulling back to test at the first resistance 107.245 where the 38.2% Fibonacci retracement sits. If prices break the first resistance it will confirm a bullish momentum and prices will continue to move in an ascending trend. If prices movement continues in the descending trend, it will test at the first support 105.620 and then the second support at previous swing low 105.078<br \/>\nAreas of consideration:<br \/>\nH4 time frame, 1st resistance at 107.245<br \/>\nH4 time frame, 1st support at 105.620<\/p>\n<p>EUR\/USD :<br \/>\nOn the H4, prices have broken the bearish trend moving into a slightly bullish biased trend. Price is ranging and it seems like it\u2019s going back to test the first support at 1.011. If prices breaks the first support, it will pull back further to test at 50% Fibonacci retracement. Alternatively, If price fails to break the first support, it will test the first resistance at 50% retracement and 61.8% fibonacci projection 1.027<br \/>\nAreas of consideration :<br \/>\nH4 1st resistance at 1.027<br \/>\nH4 1st support at 1.011<\/p>\n<p>GBP\/USD:<br \/>\nOn the H4, with prices breaking the ascending channel we are now slightly bearish biased. Price is now testing the first support at 1.208 which coincides with 38.2% Fibonacci retracement. If price break supports and confirms downside trend, we would expect downside momentum to carry price to 2nd support at 1.194 61.8% Fibonacci retracement. Alternatively, price could bounce back to test at 78.6% Fibonacci retracement at 1.227<br \/>\nAreas of consideration:<br \/>\nH4 1st resistance at 1.227<br \/>\nH4 1st support at 1.2106<\/p>\n<p>USD\/CHF:<br \/>\nOn the H4, prices have signalled a slightly bearish momentum. It has rejected the 1st resistance at 0.966 which is also the 50% Fibonacci retracement to test at the 1st support 0.955 23.6% fibonacci retracement. If prices break this key level, it will pull back further to test at the second support at 0.947. Alternatively price could bounce back to test at 1st resistance 0.965 subsequently the second resistance at 0.97266<br \/>\nAreas of consideration<br \/>\nH4 1st resistance at 0.965<br \/>\nH4 1st support at 0.955<\/p>\n<p>XAU\/USD (GOLD):<\/p>\n<p>On the H4, with prices breaking the ascending trendline, and the price and MACD is showing a bearish divergence, we have a bearish bias that the price may drop to the 1st support at 1751.55, which is in line with the 38.2% fibonacci retracement. If the price continues going down, it may drop to 2nd support at 1738.30, which is in line with 50% fibonacci retracement.  Alternatively, prices may rise to 1st resistance at 1794.48,,which is in line with the swing high.<\/p>\n<p>Areas of consideration:<br \/>\nH4 time frame, 1st support at 1751.55<br \/>\nH4 time frame,  2nd support at 1738.30<\/p>\n<p>AUD\/USD:<br \/>\nOn the H4, with price going along the descending trendline, below the ichimoku cloud and the DIF line is breaking below the signal line in MACD,  we have a bearish bias that price may drop from the 1st support at 0.69224, where the pullback support is to the 2nd support at 0.68667 where the 50% fibonacci retracement and 78.6% fibonacci projection are. Alternatively, price may rise to the 1st resistance at 0.69838 which is in line with 61.8% fibonacci retracement and swing highs.<br \/>\nAreas of consideration<br \/>\nH4 1st support at 0.69224<br \/>\nH4 2nd support at 0.68667<\/p>\n<p>NZD\/USD:<br \/>\nOn the H4, with price breaking  the ascending trendline, the DIF line is breaking the signal line, we have a bearish bias that price may rise from the 1st support at 0.62189 where overlap support and 50% fibonacci retracement to the 2nd support at 0.61369 where 78.6% fibonacci retracement is.  Alternatively, price may reverse off the 1st support and rise to 1st resistance at 0.62984 where the swing high resistance is. Take note the price of 0.61732 could be our intermediate support, which is in line with 61.8% fibonacci retracement.<\/p>\n<p>Areas of consideration:<br \/>\nH4 time frame, 1st support at 0.62189<br \/>\nH4 time frame, 2nd support at 0.61369<\/p>\n<p>USD\/CAD:<br \/>\nOn the H4, with the price breaking the descending trendline and below ichimoku cloud, we have a bullish bias that the price may rise from our 1st resistance at 1.29451, which is in line with 100% fibonacci projection to our 2nd resistance at 1.30233, which is in line with the 161.8% fibonacci projection. Alternatively, the price may drop  to the 1st support at 1.28835, which is in line with 50% fibonacci retracement and pullback support. <\/p>\n<p>Areas of consideration:<br \/>\nH4 time frame, 1st resistance at 1.29451<br \/>\nH4 time frame, 2nd resistance at 1.30233<\/p>\n<p>OIL:<br \/>\nOn the H4, with price almost touching the descending trendline, and the histogram of MACD is decreasing under zero while the DIF is breaking the DEA, we have a bullish bias that the price may rise from our 1st resistance at 98.703, which is in line with the overlap resistance to the 2nd resistance at 102.467, which is in line with the 23.6% fibonacci retracement and 38.2% fibonacci retracement. Otherwise, the price may drop to our 1st support at 95.639, where the swing low support is.<br \/>\nAreas of consideration:<br \/>\nH4 time frame, 1st resistance at 98.703<br \/>\nH4 time frame, 2nd resistance at 102.467<\/p>\n<p>Dow Jones Industrial Average:<\/p>\n<p>On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from the 1st support at 32654 where the pullback support is to the 1st resistance at 33467 where the swing high resistance, 161.8% fibonacci extension and -61.8% fibonacci expansion are. Alternatively, price could break 1st support structure and drop to 2nd support at 31924 where the pullback support, -61.8% fibonacci expansion, 38.2% fibonacci retracement and 78.6% fibonacci projection are. <\/p>\n<p>Areas of consideration:<br \/>\nH4 time frame, 1st resistance of 33467<br \/>\nH4 time frame, 1st support at 32654<\/p>\n<p>DAX:<\/p>\n<p>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 1st resistance at 13693.88 where the pullback resistance is. Once there is upside confirmation of price breaking 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 14227.40 in line with 78.6% fibonacci projection and 78.6% fibonacci retracement. Alternatively, price could drop to 1st support at 13378.95 where the overlap support and 23.6% fibonacci retracement are.<\/p>\n<p>Areas of consideration:<br \/>\nH4 time frame, 1st resistance of  13693.88<br \/>\nH4 time frame, 1st support at 13378.95<\/p>\n<p>ETHUSD:<\/p>\n<p>On the H4, with RSI moving along an ascending trendline and price moving within an ascending channel as well as above the ichimoku indicator, we have a bullish bias that price will rise from 1st support at 1676.28 where the pullback support and 38.2% fibonacci retracement are to the 1st resistance at 1792.30 where the swing high resistance, 127.2% fibonacci extension and 61.8% fibonacci projection are. Alternatively, price could break 1st support and drop to 2nd support at 1648.58  where the overlap support, 61.8% fibonacci retracement and 100% fibonacci projection are.<\/p>\n<p>Areas of consideration:<br \/>\nH4 time frame, 1st resistance of 1792.30<br \/>\nH4 time frame, 1st support at 1676.28<\/p>\n<p>BTCUSD:<\/p>\n<p>On the H4, with price moving within a bullish channel and RSI moving along an ascending trendline, we have a bullish bias that price will rise from our 1st support at 22560.82  where the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection are to the 1st resistance at 24703.69 where the swing high resistance and 61.8% fibonacci projection are. Alternatively, price could break 1st support structure and drop to 2nd support at 20716.80 where the swing low support and 100% fibonacci projection are.<br \/>\nAreas of consideration:<br \/>\nH4 time frame, 1st resistance of 24703.69<br \/>\nH4 time frame, 1st support at 22560.82<\/p>\n<p>S&#038;P 500:<\/p>\n<p>On the H4, with price moving above the ichimoku indicator and within an ascending channel, we have a bullish bias that price will rise to our 1st resistance at 4182.68 where the swing high resistance and 100% fibonacci projection are. Once there is upside confirmation that price has broken the 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 4335.913 where the 127.2% fibonacci extension and 61.8% fibonacci projection are. Alternatively, price could drop to 1st support at 4087.73 where the overlap support, 23.6% fibonacci retracement and 61.8% fibonacci projection are.<br \/>\nAreas of consideration:<br \/>\nH4 time frame, 1st resistance of 4182.68<br \/>\nH4 time frame, 1st support at 4087.73<\/p>\n<p>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.<br \/>\nNews, 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.<br \/>\nThe 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.<\/p>\n","protected":false},"author":8,"featured_media":56053,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[340,215,339,195],"tags":[],"class_list":["post-56050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-posts","category-market-analysis","category-recent-posts","category-technical-analysis"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/56050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/comments?post=56050"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/56050\/revisions"}],"predecessor-version":[{"id":56071,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/56050\/revisions\/56071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/56053"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=56050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=56050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=56050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}