AUD/USD 4-hour: Reached the bullish target

8:30 am (EST) Update

GBP/USD 4-hour: Consolidating inside the triangle.

Maria’s positioning: No positions.

Technical reasons why: While consolidating inside the triangle, the pair once broke below the trend support level but is not yet cofirmed. The RSI is around the neutrality area.

Where I’m setting my stops and limits:

AUD/USD 4-hour: Reached the target.

Maria’s positioning: Long positions above 0.7730 with targets at 0.7792 and 0.7912 in extension.

Technical reasons why: The pair reached our bullish target at 0.7730 as testing the upper boundary of the Ichimoku’s cloud as rebounding from the previous bottom at 0.7552. A break above this level and the Ichimoku’s cloud would signal further up-moves. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7730 look for further downside with 0.7659 and 0.7552.

Where I’m setting my stops and limits:

USD/CHF 4-hour: Rebounding.

Maria’s positioning: Long positions above 0.9638 with targets at 0.9731 and 0.9805 in extension.

Technical reasons why: The pair is rebounding from the key support at 0.9489 towards our bullish target at the 38% Fibonacci level above the Ichimoku’s cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.9638 look for further downside with 0.9489 and 0.9373.

Where I’m setting my stops and limits:

USD/CAD 4-hour: Testing the pivot level.

Maria’s Positioning: No positions.

Technical reasons why: The pair has been moving between the key levels at 1.2747 and 1.2412. It is now testing the pivot level at 1.2533 below the Ichimoku’s cloud and waiting for the confirmation of breaking below the level which would signal further down-moves. The RSI moves down at the neutrality area.

Where I’m setting my stops and limits:

Kiana Danial

#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.