{"id":57961,"date":"2022-10-13T15:52:15","date_gmt":"2022-10-13T04:52:15","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=57961"},"modified":"2022-10-13T15:52:15","modified_gmt":"2022-10-13T04:52:15","slug":"thursday-13th-october-2022-technical-outlook-and-review","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/thursday-13th-october-2022-technical-outlook-and-review\/","title":{"rendered":"Thursday 13th October 2022: Technical Outlook and Review"},"content":{"rendered":"<h1><span style=\"font-weight: 400;\">USD\/JPY:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">The current general bias for USDJPY on the H4 chart is bullish. To add to this bias, the price is currently trading above the Ichimoku cloud, indicating a bullish market. Overnight, the price has maintained its strong bullish momentum above the first support line at 145.900, which also happens to be the 100% Fibonacci line. If the bullish trend continues, price may move towards the first resistance line at 147.410, which contains the 127.2% Fibonacci extension line.<\/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;\">147.410<\/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;\">145.900<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/USDJPY_2022-10-13_10-04-51.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57976\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/USDJPY_2022-10-13_10-04-51-1024x576.png\" alt=\"\" width=\"660\" height=\"371\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDJPY_2022-10-13_10-04-51-1024x576.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDJPY_2022-10-13_10-04-51-300x169.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDJPY_2022-10-13_10-04-51-768x432.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDJPY_2022-10-13_10-04-51.png 1502w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">DXY:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4 chart, prices are moving in an ascending trend signalling slight bullish momentum. It is currently moving towards the first resistance at 114.759 where the previous swing high sits. If bullish momentum continues it will bring price to 115.717 where the 78.6% projection. Alternatively, prices could test the first support at 110.084 where the swing low sits. if it breaks this level, bearish momentum will bring price to second support at 107.669<\/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;\">114.759<\/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;\">110.084<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/DXY_2022-10-13_09-45-13.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57968\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/DXY_2022-10-13_09-45-13-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DXY_2022-10-13_09-45-13-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DXY_2022-10-13_09-45-13-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DXY_2022-10-13_09-45-13-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DXY_2022-10-13_09-45-13.png 1501w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">EUR\/USD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, price is moving within the descending trendline in a descending manner, with the price moving below ichimoku cloud- we are bearish biassed. Price is testing the first support at 0.9695 where the 61.8% retracement sits. If it breaks this level, bearish momentum will bring price to the second support at 0.9545 where the swing low and 161.8% extension sit. Alternatively, price may test the first resistance at 1.0047 where the 78.6% retracement sits. If price breaks this level, it may test the second resistance at 1.0194, where the previous swing high sits\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 1st resistance at <\/span><span style=\"font-weight: 400;\">1.0047<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 2nd resistance at <\/span><span style=\"font-weight: 400;\">1.0194<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/EURUSD_2022-10-13_09-45-50.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57970\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/EURUSD_2022-10-13_09-45-50-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/EURUSD_2022-10-13_09-45-50-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/EURUSD_2022-10-13_09-45-50-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/EURUSD_2022-10-13_09-45-50-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/EURUSD_2022-10-13_09-45-50.png 1501w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">GBP\/USD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, price has rejected the first support and is moving in an ascending trend hence we are slightly bullish bias- if price breaks the first support at 1.0915 where the 50% retracement sits, bearish momentum will bring price to the second support at 1.0355 where the previous swing low sits. Alternatively price can test the first resistance at 1.1437 where the 78.6% retracement and overlap resistance sit. Subsequently the second resistance at 1.1739<\/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 <\/span><span style=\"font-weight: 400;\">1st support at 1.0915<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 <\/span><span style=\"font-weight: 400;\">1st resistance at 1.1437<\/span><\/li>\n<\/ul>\n<h1><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/GBPUSD_2022-10-13_09-46-06.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57971\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/GBPUSD_2022-10-13_09-46-06-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/GBPUSD_2022-10-13_09-46-06-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/GBPUSD_2022-10-13_09-46-06-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/GBPUSD_2022-10-13_09-46-06-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/GBPUSD_2022-10-13_09-46-06.png 1501w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h1>\n<h1><span style=\"font-weight: 400;\">USD\/CHF:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">USDCHF is in a strong bullish trend on the H4 chart. Price is trading above the Ichimoku cloud signalling a bullish trend. Price looks like it&#8217;s moving toward the first resistance 1.0046 where the previous swing high sits. Alternatively price can test the first support at\u00a0 0.9868 where the overlap support and 23.6% retracement sits then the second support at 0.9757 where the 50% retracement sits<\/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 <\/span><span style=\"font-weight: 400;\">1st support at 0.9868<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 <\/span><span style=\"font-weight: 400;\">1st resistance at 1.0046<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/USDCHF_2022-10-13_09-46-54.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57975\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/USDCHF_2022-10-13_09-46-54-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCHF_2022-10-13_09-46-54-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCHF_2022-10-13_09-46-54-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCHF_2022-10-13_09-46-54-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCHF_2022-10-13_09-46-54.png 1501w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">XAU\/USD (GOLD):<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, price is rising from the 1st support at 1660.073, which is in line with the 61.8% <\/span><a href=\"https:\/\/www.tradingview.com\/ideas\/fibonacciretracement\/\"><span style=\"font-weight: 400;\">fibonacci retracement<\/span><\/a><span style=\"font-weight: 400;\"> and overlap support, as the price is above <\/span><a href=\"https:\/\/www.tradingview.com\/ideas\/ichimokuclouds\/\"><span style=\"font-weight: 400;\">ichimoku cloud<\/span><\/a><span style=\"font-weight: 400;\"> and stoch is rising from <\/span><a href=\"https:\/\/www.tradingview.com\/ideas\/supportandresistance\/\"><span style=\"font-weight: 400;\">support level<\/span><\/a><span style=\"font-weight: 400;\"> , we can expect the price bounce off from 1st support and test the 1st resistance at 1729.880, where the 61.8% <\/span><a href=\"https:\/\/www.tradingview.com\/ideas\/fibonacciretracement\/\"><span style=\"font-weight: 400;\">fibonacci retracement<\/span><\/a><span style=\"font-weight: 400;\"> and previous swing highs are. Alternatively, the price may break the 1st support and drop to the 2nd support at 1616.073, where the swing low is.<\/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 <\/span><span style=\"font-weight: 400;\">1660.073<\/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;\">1st resistance at 1729.880<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/XAUUSD_2022-10-13_10-10-41.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57977\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/XAUUSD_2022-10-13_10-10-41-1024x636.png\" alt=\"\" width=\"660\" height=\"410\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/XAUUSD_2022-10-13_10-10-41-1024x636.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/XAUUSD_2022-10-13_10-10-41-300x186.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/XAUUSD_2022-10-13_10-10-41-768x477.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/XAUUSD_2022-10-13_10-10-41.png 1460w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">AUD\/USD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, the price is moving within the descending channel and below ichimoku cloud, we have a bearish bias that the price may drop to the 1st support at 0.62085, which is in line with the 61.8% fibonacci projection. If the 1st support is broken, the 2nd support could be at 0.61072, where the 78.6% fibonacci projection is. Alternatively, the price may rise to the 1st resistance at 0.63876, which is in line with the 23.6% fibonacci retracement and 50% fibonacci retracement.\u00a0<\/span><\/p>\n<p><b>Areas of consideration<\/b><span style=\"font-weight: 400;\">\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;\">\u00a01st support at 0.62085<\/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 0.61072<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/AUDUSD_2022-10-13_10-10-46.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57963\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/AUDUSD_2022-10-13_10-10-46-1024x637.png\" alt=\"\" width=\"660\" height=\"411\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/AUDUSD_2022-10-13_10-10-46-1024x637.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/AUDUSD_2022-10-13_10-10-46-300x186.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/AUDUSD_2022-10-13_10-10-46-768x477.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/AUDUSD_2022-10-13_10-10-46.png 1459w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h1><span style=\"font-weight: 400;\">NZD\/USD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, the price is crossing the ichimoku cloud and RSI is rising over 50, we have a bullish bias that the price may rise to test the 1st resistance at 0.56862, where the 50% fibonacci retracement\u00a0 is. Alternatively, the price may drop to test the 1st support at\u00a0 0.55338, which is in line with the swing low, if the 1st support is broken, the price may drop to the 2nd support at 0.54578, which is in line with the 161.8% fibonacci extension and 61.8% fibonacci projection.<\/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;\">current price\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">H4 time frame,<\/span><span style=\"font-weight: 400;\"> 1st resistance at 0.56862<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/NZDUSD_2022-10-13_10-10-43.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57972\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/NZDUSD_2022-10-13_10-10-43-1024x636.png\" alt=\"\" width=\"660\" height=\"410\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/NZDUSD_2022-10-13_10-10-43-1024x636.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/NZDUSD_2022-10-13_10-10-43-300x186.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/NZDUSD_2022-10-13_10-10-43-768x477.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/NZDUSD_2022-10-13_10-10-43.png 1460w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">USD\/CAD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, the price trades higher near the 1st resistance of 1.3832 which is the previous swing high level. With the price trading above the ichimoku cloud, we have a short term bullish bias. The price could break the first resistance to test the second resistance at 1.4033 where the 61.8% projection sits. Alternatively it could fall to the 1st support at 1.3495 which is in line with the 38.2% retracement level and the previous swing low subsequently the second support at 1.3184 where the overlap support sits\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;\">\u00a01st resistance at 1.3828<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st support at 1.3495<\/span><\/li>\n<\/ul>\n<h2><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/USDCAD_2022-10-13_09-47-38.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57974\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/USDCAD_2022-10-13_09-47-38-1024x619.png\" alt=\"\" width=\"660\" height=\"399\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCAD_2022-10-13_09-47-38-1024x619.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCAD_2022-10-13_09-47-38-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCAD_2022-10-13_09-47-38-768x464.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/USDCAD_2022-10-13_09-47-38.png 1501w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h2>\n<h1><span style=\"font-weight: 400;\">OIL:<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">Looking at the H4 chart, the current overall bias for Oil is bullish . To add confluence to this bias, the price is currently above the Ichimoku cloud which indicates a bullish market. Overnight, price has tapped onto the 1st support line at 93.381 where the 78.6% Fibonaaci line and 38.2% Fibonaaci line is located. Price is currently resting on that 1st support line. Expect price to possibly reflect off this 1st support line and back upwards towards the 1st resistance at <\/span><span style=\"font-weight: 400;\">96.538 where the 100% Fibonacci line and 0% Fibonacci line are located.<\/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;\">\u00a01st resistance at 96.538<\/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;\"> 1st support at <\/span><span style=\"font-weight: 400;\">93.381<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/BCOUSD_2022-10-13_10-06-01.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57964\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/BCOUSD_2022-10-13_10-06-01-1024x458.png\" alt=\"\" width=\"660\" height=\"295\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BCOUSD_2022-10-13_10-06-01-1024x458.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BCOUSD_2022-10-13_10-06-01-300x134.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BCOUSD_2022-10-13_10-06-01-768x344.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BCOUSD_2022-10-13_10-06-01.png 1834w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">Dow Jones Industrial Average:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">The current overall bias for DJI is bearish, according to the H4 chart. To add to this bias, the price is currently trading below the Ichimoku cloud, indicating a bearish market. Price has continued to consolidate below the first resistance line overnight. If the bearish momentum continues, price may move towards the first support line at 28715.85, which contains the 0% Fibonacci line and the 127.2% Fibonacci extension line.\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 support at <\/span><span style=\"font-weight: 400;\">28715.85<\/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;\"> 1st resistance at 29653.29<\/span><\/li>\n<\/ul>\n<h1><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/DJI_2022-10-13_10-08-42.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57967\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/DJI_2022-10-13_10-08-42-1024x458.png\" alt=\"\" width=\"660\" height=\"295\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DJI_2022-10-13_10-08-42-1024x458.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DJI_2022-10-13_10-08-42-300x134.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DJI_2022-10-13_10-08-42-768x344.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DJI_2022-10-13_10-08-42.png 1834w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h1>\n<h1><span style=\"font-weight: 400;\">DAX:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, with the price moving below ichimoku cloud and long term descending trendline, we have a bearish bias that the price may drop to\u00a0 the 1st support at 11874.07, which is in line with the swing low. Alternatively, the price may rise to the 1st resistance at 12668.06, which is in line with the 50% fibonacci retracement, 78.6% fibonacci projection and overlap resistance, if the 1st resistance is broken, the 2nd resistance could be at 13572.68, where the previous swing high 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, <\/span><span style=\"font-weight: 400;\">current price<\/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;\">\u00a01st support at 11874.07<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/DAX_2022-10-13_10-10-37.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57966\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/DAX_2022-10-13_10-10-37-1024x618.png\" alt=\"\" width=\"660\" height=\"398\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DAX_2022-10-13_10-10-37-1024x618.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DAX_2022-10-13_10-10-37-300x181.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DAX_2022-10-13_10-10-37-768x463.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/DAX_2022-10-13_10-10-37.png 1454w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<h1><span style=\"font-weight: 400;\">ETHUSD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">Looking at the H4 chart, the current overall bias for ETHUSD is bearish. To add confluence to this bias, the price is currently under the Ichimoku cloud which indicates a bearish market. Overnight, the price has continued it\u2019s bearish momentum downwards. Price has been consolidating between the 1403 and 1220 area for the past 3 weeks. If the bearish momentum continues, expect price to possibly head towards the 1st support line at 1220.00, where the 0% Fibonaaci line is located.\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;\">1405.86<\/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;\">1220.00<\/span><\/li>\n<\/ul>\n<h1><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/ETHUSD_2022-10-13_10-04-08.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57969\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/ETHUSD_2022-10-13_10-04-08-1024x598.png\" alt=\"\" width=\"660\" height=\"385\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/ETHUSD_2022-10-13_10-04-08-1024x598.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/ETHUSD_2022-10-13_10-04-08-300x175.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/ETHUSD_2022-10-13_10-04-08-768x448.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/ETHUSD_2022-10-13_10-04-08.png 1502w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/h1>\n<h1><span style=\"font-weight: 400;\">BTCUSD:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">On the H4, price is showing a descending trendline and below the ichimoku cloud, we can expect the price drop to test the 1st support at 18527.00, which is in line with the swing lows and 61.8% fibonacci projection. If the 1st support is broken, we can expect the price to drop to the 2nd support at 17478.87, where the previous swing low is. Alternatively, the price may rise to the 1st resistance at 20427.23, where the overlap resistance and 50% fibonacci retracement are.\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;\">\u00a01st support at 18527.00<\/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 support at 17478.87<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/BTCUSD_2022-10-13_10-10-34.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57965\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/BTCUSD_2022-10-13_10-10-34-1024x661.png\" alt=\"\" width=\"660\" height=\"426\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BTCUSD_2022-10-13_10-10-34-1024x661.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BTCUSD_2022-10-13_10-10-34-300x194.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BTCUSD_2022-10-13_10-10-34-768x496.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/BTCUSD_2022-10-13_10-10-34.png 1359w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"font-weight: 400;\">S&amp;P 500:<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">Based on the H4 chart, the current overall bias for the S&amp;P500 is bearish. To add to this bias, the price is currently below the Ichimoku cloud, indicating a bearish market. Overnight, the price has consolidated under the first resistance line at 3636.87, which is also the 100% Fibonacci line and prior swing bottom. If the negative trend continues, price may move towards the first support line at 3448.80, where the 127.2% Fibonacci line is placed.<\/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 at 3448.80<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">H4 time frame, 1st resistance at 3636.87<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/SPX_2022-10-13_10-10-21.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-57973\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2022\/10\/SPX_2022-10-13_10-10-21-1024x458.png\" alt=\"\" width=\"660\" height=\"295\" srcset=\"https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/SPX_2022-10-13_10-10-21-1024x458.png 1024w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/SPX_2022-10-13_10-10-21-300x134.png 300w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/SPX_2022-10-13_10-10-21-768x344.png 768w, https:\/\/www.icmarkets-vnk.com\/blog\/wp-content\/uploads\/2022\/10\/SPX_2022-10-13_10-10-21.png 1834w\" 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>Overnight, the price has consolidated under the first resistance line at 3636.87, which is also the 100% Fibonacci line and prior swing bottom. If the negative trend continues, price may move towards the first support line at 3448.80, where the 127.2% Fibonacci line is placed.<\/p>\n","protected":false},"author":8,"featured_media":57962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[340,215,339,195],"tags":[],"class_list":["post-57961","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\/57961","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=57961"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/57961\/revisions"}],"predecessor-version":[{"id":57978,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/57961\/revisions\/57978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/57962"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=57961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=57961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=57961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}