2/6/2015 15:30 EST update
AUD/USD 4-hour: Rebounding below the pivot level at 0.7879.
Invest Diva positioning: Short positions below 0.7879 with targets at 0.7661 and 0.7457 in extension.
Technical reasons why: The pair is rebounding from the pivot level at 0.7879 below the Ichimoku’s cloud. The RSI is at theneutrality area.
Alternative Scenario: Above 0.7879 look for further upside towards 0.7879 and 0.8036.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7661 | 0.7879 | 0.8036 |
| 0.7457 | 0.7879 |
USD/CAD 4-hour: Rebounding from the key support level.
Invest Diva positioning: Long positions above 1.2445 with targets at 1.2630 and 1.2779 in extension.
Technical reasons why: The pair is rebounding from the pivot level at 1.2445 within the Ichimoku’s cloud. The RSI is moving up above theneutrality area.
Alternative Scenario: Below 1.2445 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 | 1.2445 | 1.2779 |
| 1.1880 | 1.2630 |
