EUR/USD 4-hour: Downtrend prevails.
Invest Diva positioning: Short positions below 1.0676 with targets at 1.0520 and 1.0384 in extension.
Technical reasons why: The pair continues to drop down below the Ichimoku’s cloud and it broke below our bearish target at 1.0676. The RSI keeps moving down at the neutrality area.
Alternative Scenario: Above 1.0676 look for further upside with 1.08234 and 1.0986.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.6760 | 1.0823 | 1.1168 |
| 1.0520 | 1.0986 |
GBP/USD 4-hour: Moving below the 23% Fibonacci level.
Invest Diva positioning: Short positions below 1.5145 with targets at 1.5020 and 1.4954 in extension.
Technical reasons why: The pair is kind of consolidating between the 23% Fibonacci level and its current bottom level below the Ichimoku’s cloud. The RSI is below the neutrality area.
Alternative Scenario: Above 1.5145 look for further upide with 1.5223 and 1.5286.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.4954 | 1.5020 | 1.5224 |
| 1.4847 | 1.5145 |
USD/CHF 4-hour: Uptrend prevails.
Invest Diva positioning: Long positions above 0.9960 with targets at 1.0197 and 1.0353 in extension.
Technical reasons why: The pair continues to move up towards our bullish target level. The RSI is moving at the over-bought zone.
Alternative Scenario: Below 0.9960 look for further downside with 0.9767 and 0.9501.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.9767 | 0.9960 | 1.0353 |
| 0.9501 | 1.0197 |
USD/CAD 4-hour: Broke above the resistance level.
Invest Diva positioning: Long positions above 1.2659 with targets at 1.2779 and 1.2971 in extension.
Technical reasons why: The pair is confirmed to break above the resistance level at 1.2659 but seems like consolidating at the level above the Ichimoku’s cloud. The RSI is around the over-bought zone.
Alternative Scenario: Below 1.2659 look for further downside with 1.2524 and 1.2090.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2524 | 1.2659 | 1.2971 |
| 1.2390 | 1.2779 |
#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.
