EUR/USD 4-hour: Confirmed the double-top chart pattern.
Maria’s Positioning: Short positions below 1.0686 with targets at 1.0596 and 1.0456 in extension.
Technical reasons why: The pair broke below the neck line at the 50% Fibonacci level at 1.0753 and confirmed the double-top pattern below the Ichimoku’s cloud. The RSI reached the over-sold zone.
Alternative Scenario: Above 1.0686 look for further upside with 1.0753 and 1.0910.
Where I’m setting my stops and limits:
Support Levels | Turning Point | Resistance Levels |
---|---|---|
1.0753 | 1.0686 | 1.0456 |
1.0910 | 1.0596 |
USD/JPY 4-hour: Testing the 60% Fibonacci level.
Maria’s Positioning: Long positions above 120.60 with targets at 120.93 and 121.14 in extension.
Technical reasons why: The pair keeps on an overall uptrend and reached the 61% Fibonacci level above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 120.60 look for further downside with 120.16 and 119.73.
Where I’m setting my stops and limits:
Support Levels | Turning Point | Resistance Levels |
---|---|---|
120.16 | 120.60 | 121.14 |
119.73 | 120.93 |
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