GBP/USD 4-hour: Consolidating below Ichimoku’s cloud.
Invest Diva positioning: Short positions below 1.5631 with targets at 1.5562 and 1.5474 in extension.
Technical reasons why: The pair broke and is consolidating below the Ichimoku’s cloud. The RSI is also moving below the neutrality area. Market sentiment of one of the largest international brokers shows that 61% of traders are long the pair and the combination of the technicals and current sentiment gives a further bearish bias.
Alternative Scenario: Above 1.5631 look for further upside toward 1.5709 and 1.5800.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5562 | 1.5631 | 1.5800 |
| 1.5474 | 1.5709 |
AUD/USD 4-hour: Downtrend prevails.
Invest Diva positioning: Short positions below 0.8183 with targets at 0.8102 and 0.7977 in extension.
Technical reasons why: The pair continues to consolidate below our pivot level at 0.8153 below the Ichimoku’s cloud. The RSI is moving below the neutrality area.
Alternative Scenario: Above 0.8183 look for further upside towards 0.8248 and 0.8318.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.8102 | 0.8183 | 0.8248 |
| 0.7977 | 0.8318 |
USD/JPY 4-hour: Broke above Ichimoku’s cloud.
Invest Diva positioning: Long positions above 119.72 with targets at 121.83 and 123.88 in extension.
Technical reasons why: The pair is rebounding from the 38% Fibonacci level and broke above the Ichimoku’s cloud and our pivot level at 119.72. The RSI is above the neutrality area.
Alternative Scenario: Below 119.72 look for further downside toward 117.98 and 115.59.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 117.98 | 119.72 | 123.88 |
| 115.59 | 121.83 |
USD/CAD 4-hour: Testing above the pivot level
Invest Diva positioning: Long positions above 1.1600 with targets at 1.1665 and 1.1791 in extension.
Technical reasons why: The pair broke above our pivot level at 1.1600 with a strong bullish candle stick right above the Ichimoku’s cloud. The RSI is also above the neutrality area.
Alternative Scenario: Below 1.1600 look for further downside towards 1.1537 and 1.1457.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.1537 | 1.600 | 1.1791 |
| 1.1457 | 1.1665 |
NZD/USD 4-hour: The pair broke below the Ichimoku could.
Invest Diva positioning: Short positions below 0.7738 with targets at 0.7664 and 0.7607 in extension.
Technical reasons why: The pair broke the Ichimoku’s cloud and our pivot level at 0.7738. The RSI is below the neutrality area.
Alternative Scenario: Above 0.7738 look for further upside towards 0.7834 and 0.7887.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7664 | 0.7738 | 0.7887 |
| 0.7607 | 0.7834 |
USD/CHF 4-hour: Broke above a key resistance level again.
Invest Diva positioning: Long positions above 0.9816 with targets at 0.9896 and 0.9963 in extension.
Technical reasons why: The pair is testing the previous top at 0.9816 above the Ichimoku’s cloud. A complete break above this level would give further uptrend. The RSI is above the neutrality area.
Alternative Scenario: Below 0.9816 look for further downside towards 0.9770 and 0.9719.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.9719 | 0.9816 | 0.9963 |
| 0.9779 | 0.9896 |
