02/23/2015 8:30 EST Update
GBP/USD 4-hour: Teasing the 61% Fibonacci level.
Invest Diva positioning: Long positions above 1.5352 with targets at 1.5441 and 1.5584 in extension.
Technical reasons why: The pair is back to the support level at 1.5352 and the upper boundary of the Ichimoku’s cloud after failing to break the 72% Fibonacci level. The RSI is around the neutrality area.
Alternative Scenario: Below 1.5352 look for further downside with 1.5280 and 1.5208.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5289 | 1.5352 | 1.5584 |
| 1.5208 | 1.5441 |
AUD/USD 4-hour: Teasing the 23% Fibonacci level.
Invest Diva positioning: Long positions above 0.7790 with targets at 0.7842 and 0.8019 in extension.
Technical reasons why: The pair continues to move inside a narrow range between 0.7842 and 0.7741. It is now teasing the pivot level at the 23% Fibonacci level above the Ichimoku’s cloud.
Alternative Scenario: Below 0.7790 look for further downside with 0.7742 and 0.7647.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7742 | 0.7790 | 0.8019 |
| 0.7464 | 0.7842 |
NZD/USD 4-hour: Continues to consolidate.
Invest Diva positioning: No position.
Technical reasons why: The pair continues to consolidate at the 50% Fibonacci level at 0.7514 above the Ichimoku’s cloud. The RSI is around the neutrality area.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7348 | 0.7520 | 0.7879 |
| 0.7193 | 0.7693 |
USD/CAD 4-hour: Reaching the target.
Invest Diva positioning: Long positions above 1.2360 with targets at 1.2630 and 1.2779 in extension.
Technical reasons why: The pair broke above the Ichimoku’s cloud and is reaching our first bullish target at 1.2630. A break above this resistance level would signal a further up-moves. The RSI reached the over-bought zone.
Alternative Scenario: Below 1.2360 look for further downside with 1.2090 and 1.1880.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2090 | 1.2360 | 1.2779 |
| 1.1880 | 1.2630 |
