EUR/USD 4-hour: Testing the previous bottom.
Invest Diva positioning: Short positions below 1.1150 with targets at 1.1067 and 1.0931 in extension.
Technical reasons why: The pair reached and surpassed the previous bottom level at 1.1150 below the Ichimoku’s cloud. The RSI is below the neutrality area.
Alternative Scenario: Above 1.1150 look for further upside with 1.1261 and 1.1386.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.1067 | 1.1150 | 1.1386 |
| 1.0931 | 1.1261 |
GBP/USD 4-hour: Reached the target.
Invest Diva positioning: Short positions below 1.5328 with targets at 1.5263 and 1.5198 in extension.
Technical reasons why: The pair reached our bearish target at the 38% Fibonacci level below the Ichimoku’s cloud with the RSI below the neutrality area. Market sentiment of one of the largest international brokers shows that 62% of traders are long the pair and the combination of the technicals and current sentiment gives a further bearish bias.
Alternative Scenario: Above 1.5328 look for further upside with 1.5431 and 1.5537.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5263 | 1.5328 | 1.5537 |
| 1.5198 | 1.5431 |
NZD/USD 4-hour: Up-moves.
Invest Diva positioning: Long positions below 0.7532 with targets at 0.7616 and 0.7220 in extension.
Technical reasons why: The pair is moving up towards our first bullish target at the 61% Fibonacci level at 0.7616 above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 0.7532 look for further downside with 0.7447 and 0.7343.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7447 | 0.7532 | 0.7720 |
| 0.7346 | 0.7616 |
USD/JPY 4-hour: Consolidating.
Invest Diva positioning: No positions.
Technical reasons why: The pair is consolidating at the 61% Fibonacci level while it remains above the Ichimoku’s cloud. The RSI is at the neutrality area.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 119.33 | 119.59 | 120.44 |
| 118.74 | 120.11 |
#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.
