If you’ve been following our videos, you probably made money last week trading EUR/USD.
I sure did 🙂
In today’s video, I give another technical rundown on Mr. Euro, but more importantly discuss a possible shift in our long term outlook for the British pound.
EUR/USD
Mr. Euro and Ms. USA are teasing the 50% Fibonacci level after making us some fancy pips as they reached our previous targets 1.345 and 1.33. The pair continues to dance below the Ichimoku cloud but the Kijun line is flattening and the RSI is just rebounding from the over-sold zone. So before making any hasty decisions, I say lets wait and see if the pair is strong enough to break below the 50% Fibo level at 1.33. that would open doors for more down moves towards 1.31.On the other hand a break above 1.37, could call for further upside with 1.4 & 1.4245 as targets.
GBP/USD
As for Pound-dollar, after a period of consolidation around a 5-year high at the 1.7 level, which by the way made the Invest Diva followers some delicious pips, The pair finally cleared their complicated status and broke below the Ichimoku cloud, with the RSI reaching the over-sold zone as well. So I’m thinking we are going to see drops below 1.68 towards 1.65 in extension. Now if the pair suddenly decides to go nuts and break back above the Ichimoku and 1.71 level, that would open doors for more gains towards 1.74 and 1.79.
Long term traders. Don’t sweat the small losses and look at the big picture. Short term traders, invest responsibly, and if you have no idea what I just talked about, that only means you must enroll in Invest Diva’s education course right now and learn how to make money by trading the largest market in the world.
Intraday Forex Technical Levels
AUD/USD 4-hour: more down moves
Invest Diva likes: Short positions below 0.9338 with targets @ 0.9282 & 0.9210 in extension.
If pair goes nuts: Above 0.9393 look for further upside with 0.9471 & 0.9504 as targets.
What’s up on the forex dance floor: The pair is rebounding from a key resistance level at 0.9338, dancing below the Ichimoku cloud with the RSI heading south
Supports and resistances:
0.9504
0.9471
0.9393
0.9338
0.9282
0.9210
USD/CAD 4-hour dance floor: more up-moves
Invest Diva likes: Long positions above 1.0902 with targets @ 1.0958 & 1.1045 in extension.
If pair goes nuts: Below 1.0822 look for further down moves with 1.0720 & 1.0623 as targets.
What’s up on the forex dance floor: The pair is dancing above the Ichimoku cloud with the RSI having yet to approach the over-bought zone
Supports and resistances:
1.1045
1.0958
1.0902
1.0822
1.0720
1.0623
