EUR/USD 4-hour: Testing the previous bottom.
Invest Diva positioning: Short positions below 1.0507 with targets at 1.0384 and 1.0153 in extension.
Technical reasons why: The pair is testing the pivot level at 1.0507 as remaining on an oerall downtrend below the Ichimoku’s cloud. The RSI is at over-sold zone.
Alternative Scenario: Above 1.0507 look for further upside with 1.0736 and 1.0877.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.0384 | 1.0507 | 1.0877 |
| 1.0153 | 1.0736 |
USD/CAD 4-hour: Testing the key resistance level.
Invest Diva positioning: Long positions above 1.2779 with targets at 1.2971 and 1.3161 in extension.
Technical reasons why: The pair again reached our bullish target at 1.2779 as testing the level above the Ichimoku’s cloud. A break above this key resistance level would signal a further up-moves.
Alternative Scenario: Below 1.2779 look for further downside with 1.2659 and 1.2524.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2659 | 1.2779 | 1.3161 |
| 1.2524 | 1.2971 |
#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.
