Press "Enter" to skip to content

Friday 16th April 2021: Technical Outlook and Review

Elan Posh 0

EUR/USD:

Looking at the weekly chart, we can see that prices are facing bearish pressure from our resistance at 1.2000 where we could see a further drop below this level. On the daily time frame, it echoes the same bearish view as well where we could see a further drop before prices reach its support at 1.17100.

On the H4 timeframe, prices are approaching our resistance at 1.19800 where we could see a reversal below this level to our next support target at 1.18640.

Areas of consideration:

  • 20000 resistance area found on H4 time frame
  • 18771 support area found on H4 time frame

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

 

GBP/USD:

Looking at the weekly chart, we can see that prices are facing bearish pressure from our resistance at 1.43000 and could see a further downside before it reaches our support area at 1.31500. On the daily time frame, prices could see limited downside before approaching a key support level at 1.36500, in line with our graphical support level and 38.2% fibonacci retracement.

On the H4 timeframe, prices are approaching our resistance level at 1.38200 where we could see a reversal below this level to our support target at 1.36800.

Areas of consideration:

  • 38200 resistance area found on H4 time frame
  • 36800 support area found on H4 timeframe

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

 

AUD/USD:

From the Weekly timeframe, prices are holding nicely above the previous swing low of 0.75571 and are pushing upwards towards the 61.8% fibonacci retracement level at 0.78203. Prices are taking support from 0.75571 which is a horizontal pullback support and beneath it is the next support level of 0.74063  in line with -27%, 61.8% Fibonacci retracement and 161.8% Fibonacci extension.

On the daily time frame, price has broken and retested the resistance turned-support at 0.77286 in line with -27%, 61.8% Fibonacci retracement and horizontal graphical overlap. From here we may see a reaction pushing upwards to 0.77822, in line with the 78.6% fibonacci level. On the H4, price has managed to break past previous swing high resistance now turned-support. We are seeing a clearer break and retest of the level 0.77292, where we may potentially see a push towards the 0.77807 level in line with Daily resistance and 88.6% fibonacci extension.

Areas of consideration:

  • H4 showing bullish momentum prices might push towards 0.77807
  • Daily time frame showing that prices tested and close beneath the resistance area
  • Weekly time frame show a bounce from previous swing low

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

 

USD/JPY

From the weekly timeframe, prices are facing resistance from horizontal swing high resistance which coincides with 50% Fibonacci retracement and 78.6% Fibonacci extension, taking support from 104.224 level which is in line with 78.6% FIbonacci retracement and 78.6% FIbonacci extension. On the daily time frame, prices are facing resistance from both the horizontal swing high resistance which coincides with 78.6% FIbonacci retracement as well as the 112.204 level. Prices are pushing down to take support on ascending trendline support and horizontal pullback support in line with 50% Fibonacci retracement.

On the H4, prices are facing resistance from descending trendline resistance and horizontal swing high resistance in line with 50% Fibonacci retracement. Prices might push down to daily support level in line with horizontal swing low support which coincides with 127.2% Fibonacci retracement. EMA is also above prices, giving a bearish pressure for prices, in line with our analysis.

Areas of consideration:

  • On the H4, prices might push down to support level 108.347
  • Price facing resistance from 110.978 on weekly

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

 

USD/CAD:

The weekly chart shows bearish momentum and may push towards the previous swing low support at 1.23749, in line with -27% fibonacci retracement and 61.8% fibonacci extension. On the daily chart, we see price came close to the 1.24733 level in line with 61.8% fibonacci retracement level before bouncing back towards the descending trendline. Using recent price moves we found confluence between the descending trendline and 61.8% fibonacci retracement at 1.25699 level.

On the H4, as expected, price continued its bearish momentum and found support near 1.24740, in line with Daily support, 127% fibonacci retracement and 100% fibonacci extension. It is currently showing a pullback testing the 1.2555 level in line with 78.6% fibonacci retracement. If price pushes down from here we may see it returning to previous support zones. However, if this level is broken, we might see a push upwards to the Daily resistance.

Areas of consideration:

  • The weekly and daily time frame shows bearish momentum
  • On H4, price may reversed from 78.6% fibonacci retracement and push down towards 1.25 major level.

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

USD/CHF:

USD/CHF has seen a reversal at the descending trendline resistance and is now holding below the weekly 0.95000 resistance level which is in line with our 61.8% Fibonacci retracement. The daily chart shows that price has broken below the key daily 0.92300 support-turned-resistance. We could potentially see further downside from here towards the next daily 0.89800 support level

On the H4 chart, we can see that price is now pulling back to retest the 0.92300 support-turned-resistance area, which is in line with our 23.6% and 61.8% Fibonacci retracement. We note that price is also holding below the Ichimoku cloud after breaking below the ascending trendline support, showing bearish pressure in line with our bearish bias. We could potentially see it reverse and swing further towards weekly 0.89800 support level, in line with 78.6% Fibonacci retracement.

Areas of consideration:

  • Price broke below the daily 0.92300 support-turned-resistance level and is now pulling back to retest it.
  • We could potentially see price reverse and swing towards the next 0.89800 weekly support.

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

Dow Jones Industrial Average:

On the weekly chart, price made a new all time high, pushing towards 34600 resistance. A weekly close below 34600 resistance could see a short term pullback and long term traders looking to short, may add to their shorts below 34600. On the Daily, we see price drifting higher, with technical indicators continue to show room for further bullish upside. Buyers could possibly look to add to their longs on any price pullbacks with possible target at 34600 weekly resistance. However this upside towards our weekly resistance seems limited.

On the H4, price pushed higher, achieving a new all time high. With technical indicators still showing room for further bullish momentum, we expect a medium probability scenario where 33350 support is the level buyers could possibly enter with their longs to push price towards 34600 weekly resistance as a possible target. Otherwise, failure to hold above 33350 should see price fall towards 32345.

Areas of consideration:

  • H4 33350 support to hold for further rise in price
  • Long and short indicators show room for further bullish upside

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

 

 

XAU/USD (GOLD):

On the weekly timeframe, gold is testing 1765 resistance.  With price still holding below the long term moving average, a weekly close below this resistance will see a medium probability drop towards 1670 support. On the daily chart, price is testing and holding below 1765 weekly resistance. We see a possibility where sellers in the neighbourhood could come in and add to their shorts. Otherwise, a break and close above 1765 resistance could see price swing towards 1845 resistance.

On the H4 timeframe, price is testing 1765 daily resistance. This resistance looks very fragile and could easily be surpassed today. A break and close above 1765 could see price rise further towards 1797. Otherwise, a close below 1765 could see price drop back towards 1747. Technical indicators on the H4 are bullish as well.

Areas of consideration:

  • 1765 long term resistance is fragile

United States‘s wealthiest traders share their secret trading strategy in the Extreme FX Wealth eBook. Register now and download! 

0.0 pips spreads | 500:1 leverage

Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

Just a few messages from our happy clients:

This slideshow requires JavaScript.

WANT TO HAVE GREAT DAILY GAINS WITH NO LOSS? TEXT US NOW ON WHATSAPP FOR MORE INFO!

+447747535495

💰🤑😎𝙒𝘼𝙉𝙏 𝙏𝙊 𝙒𝙄𝙉 𝙀𝙑𝙀𝙍𝙔 𝙏𝙍𝘼𝘿𝙀?😎🤑💰

Register bellow and we will tell you how to do it (or we will do it for you.. for a small fee)



FOR DAILY SIGNALS, TECHNICAL VIEWS, MANAGED ACCOUNTS and other services with GUARANTEED PERFORMACE, simply text us on WhatsApp to get more info!

Click here to send a dircet text to us!

WhatsApp number: +447747535495


Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)

Open an Account NOW

and gain access to the Premium Daily Signals, made by certified CFA traders with guaranteed minimum profit of 50 pips per trade (5 – 10 premium signals daily)

MAKE MORE MONEY


ENJOY YOUR LIFE! LEAVE THE TRADING TO US!

Text us for more info about our managed trading accounts!


Message Us on WhatsApp
Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive daily signals, market analysis with precise entry and exit points and free educational videos.

You have Successfully Registered!

WhatsApp WhatsApp us now!