EUR/USD 4-hour: Moving up inside the Ichimoku’s cloud

8:30 am (EST) Update

EUR/USD 4-hour: Moving up inside the Ichimoku’s cloud.

Invest Diva positioning: Long positions above 1.0613 with targets at 1.0854 and 1.0973 in extension.

Technical reasons why: The pair is moving up as reaching the 23% Fibonacci level inside the Ichimoku’s cloud with the RSI above the neutrality area. A break above the Ichimoku’s cloud would signal a further up-moves.

Alternative Scenario: Below 1.0613 look for further downside with 1.0469 and 1.0324.

Where I’m setting my stops and limits:

GBP/USD 4-hour: Testing the key support level.

Invest Diva positioning: No positions.

Technical reasons why: The pair once surpassed the 50% Fibonacci level but is now back at the key support level at 1.4809 below the Ichimoku’s cloud. A break below this level would signal a further down-moves. The RSI is slightly below the neutrality area.

Where I’m setting my stops and limits:

NZD/USD 4-hour: Reached the 38% Fibonacci level.

Invest Diva positioning: Long positions above 0.7382 with targets at 0.7532 and 0.7616 in extension.

Technical reasons why: The pair reached the 38% Fibonacci level and is one its way to the 50% Fibonacci level at 0.7532 above the Ichimoku’s cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7382 look for further downside with 0.7291 and 0.7175.

Where I’m setting my stops and limits:

USD/JPY 4-hour: Reached the 23% Fibonacci level.

Invest Diva positioning: Long positions above 121.12 with targets at 121.53 and 122.00 in extension.

Technical reasons why: The pair is trapped inside the Ichimoku’s cloud and reached the 23% Fibonacci level as our first bullish target. The RSI is abve the neutrality area.

Alternative Scenario: Below 121.12 look for further downside with 120.57 and 120.13.

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.