AUD/USD spinning top above support level

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AUD/USD spinning top above support level


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Consolidating.

Invest Diva positioning: Short positions below 0.8080 with targets at 0.8036 and 0.7879 in extension.

Technical reasons why: The pair rebounded from the key support level at 0.8080 but also formed a spinning top which would show the market indecisiveness below the Ichimoku’s cloud. The RSI is moving below the neutrality area.

Alternative Scenario: Above 0.8080 look for further upside towards 0.8213 and 0.8322.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8036 0.8080 0.8322
0.7879 0.8213


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Dropping.

Invest Diva positioning: Short positions below 0.7521 with targets at 0.7473 and 0.7396 in extension.

Technical reasons why: The pair broke below the key resistance level and is now supported at the new bottom level at 0.7521 below the Ichimoku’s cloud. A break below this level would give a further drops. The RSI is above the over-sold zone.

Alternative Scenario: Above 0.7521 look for further upside towards 0.7625 and 0.7694.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7473 0.7521 0.7694
0.7396 0.7625


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Consolidating in the Ichimimoku’s cloud.

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating at the upper boundary of the Ichimoku’s cloud and our pivot level at 117.88. The RSI is around the neutrality area.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
116.05 117.88 120.63
113.66 118.79


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Reached the target.

Invest Diva positioning: Long positions above 1.2323 with targets at 1.2445 and 1.2664 in extension.

Technical reasons why: The pair reached our bullish target at 1.2323 and is consolidating above the level. The pair keeps moving above the Ichimoku’s cloud and the RSI is heading up above the over-bought zone.

Alternative Scenario: Below 1.2323 look for further downside towards 1.2090 and 1.1880.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2090 1.2323 1.2664
1.1880 1.2445


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Broke below the previous bottom.

Invest Diva positioning: Short positions below 1.5053 with targets at 1.4954 and 1.4846 in extension.

Technical reasons why: The pair broke below the previous bottom level at 1.5053 below the Ichimoku’s cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 1.5053 look for further upside towards 1.5172 and 1.5332.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4954 1.5053 1.5335
1.4846 1.5172


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Teasing  recent resistance level.

Invest Diva positioning: Short positions below 0.8745 with targets at 0.8572 and 0.8375 in extension.

Technical reasons why: The pair is teasing the recent resistance level at 0.8745 below the Ichimoku’s cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 0.8745 look for further upside towards 0.8865 and 0.8997.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8572 0.8745 0.8997
0.8375 0.8865

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