The pick of the day is UDS/CHF and I have a horror story to tell you. As you might remember from my last week’s coverage on the pair, I was in a bearish position and had set my account to take profit at 0.86990. When I saw the market testing near that area on Thursday I checked the market sentiment and decided to bring my target higher up to 0.87 and get the heck out of my position asap, but guess what happened, my broker didn’t accept my order. Immediately after that Mr. Swissy and Ms. USA got wild and started dancing up. They have been on a passionate upward move ever since, breaking inside the prevailing Ichimoku cloud and leaving me, the poor me, in a losing trade. How I loathe my broker sometimes. While the pair remains inside a downward channel, the RSI is above the neutrality area. The pair seems to be on its way to the previous recent top around the 38% Fibonacci level. If the pair succeeds to break above the Ichimoku cloud, I’m gonna be doomed and would need to get out of the market with a losing trade. My Sop Loss order is set at 0.9092. Currently I remain in the game considering my risk appetite, with my target set at 0.87.
A quick word with our Japanese followers, このビデオの日本語原稿を用意しておりますので、よければご参照ください。日本語バージョンのビデオレポートは今月中に始まります！
Back to English, Long term traders. Don’t sweat the small losses and look at the big picture. Short term traders, invest responsibly. And wait, are we hooked up on the social media? To get the most recent intraday updates, don’t forget to follow Invest Diva on Twitter and Facebook. I’ll see you tomorrow.
Intraday Forex Technical Levels
EUR/USD Intraday: the downside prevails
Invest Diva preference: Short positions below 1.3785 with targets @ 1.3745 & 1.3705 in extension.
Alternative scenario: Above 1.3785 look for further upside with 1.381 & 1.385 as targets.
Comment: The pair stands below its resistance and remains under pressure.
Supports and resistances:
1.385
1.381
1.3785
1.3756 Last
1.3745
1.3705
1.367
GBP/USD Intraday: rebound.
Invest Diva preference: Long positions above 1.686 with targets @ 1.691 & 1.6935 in extension.
Alternative scenario: Below 1.686 look for further downside with 1.683 & 1.68 as targets.
Comment: The RSI is well directed. The pair is rebounding and stands above its new support.
Supports and resistances:
1.6965
1.6935
1.691
1.6885 Last
1.686
1.683
1.68
USD/JPY Intraday: the upside prevails. |
Invest Diva preference: Long positions above 101.75 with targets @ 102.05 & 102.2 in extension.
Alternative scenario: Below 101.75 look for further downside with 101.65 & 101.55 as targets.
Comment: The pair is trading within a bullish channel.
Supports and resistances:
102.4
102.2
102.05
101.922 Last
101.75
101.65
101.55
USD/CHF Intraday: the upside prevails.
Invest Diva preference: Long positions above 0.885 with targets @ 0.888 & 0.89 in extension.
Alternative scenario: Below 0.885 look for further downside with 0.883 & 0.88 as targets.
Comment: The pair stands above its new support and remains on the upside.
Supports and resistances:
0.893
0.89
0.888
0.8875 Last
0.885
0.883
0.88
NZD/USD Intraday: the downside prevails.
Invest Diva preference: Short positions below 0.867 with targets @ 0.8595 & 0.8545 in extension.
Alternative scenario: Above 0.867 look for further upside with 0.871 & 0.8745 as targets.
Comment: A break below 0.8595 would trigger a drop towards 0.8545. The pair is trading within a bearish channel.
Supports and resistances:
0.8745
0.871
0.867
0.8624 Last
0.8595
0.8545
0.851
AUD/USD Intraday: intraday support around 0.9345.
Invest Diva preference: Long positions above 0.9345 with targets @ 0.9395 & 0.9425 in extension.
Alternative scenario: Below 0.9345 look for further downside with 0.931 & 0.928 as targets.
Comment: A support base at 0.9345 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
0.946
0.9425
0.9395
0.9375 Last
0.9345
0.931
0.928
USD/CAD Intraday: bullish bias above 1.0835.
Invest Diva preference: Long positions above 1.0835 with targets @ 1.094 & 1.099 in extension.
Alternative scenario: Below 1.0835 look for further downside with 1.081 & 1.0785 as targets.
Comment: The immediate trend remains up and the momentum is strong. The pair broke above a bearish channel resistance and is drawing a bullish flag pattern.
Supports and resistances:
1.101
1.099
1.094
1.0886 Last
1.0835
1.081
1.0785
US Daily Index Technical Levels
S&P 500 intraday: SHORT positions below 1886 with 1862 & 1854 in sight.
Alternative scenario: The upside breakout of 1886 will open the way to 1892 & 1906.
Comment: as long as 1886 is resistance, look for choppy price action with a bearish bias.
Dow Jones intraday: SHORT positions below 16610 with 16440 & 16375 as next targets.
Alternative scenario: The upside breakout of 16610 will open the way to 16650 & 16725.
Comment: as long as 16610 is resistance, look for choppy price action with a bearish bias.
Nasdaq 100 intraday: SHORT positions below 3605 with targets @ 3510 & 3479.
Alternative scenario: The upside penetration of 3605 will call for a rebound towards 3657 & 3705.
Comment: as long as 3605 is resistance, look for choppy price action with a bearish bias.
