GBP/USD 4-hour: Start dropping from the pivot level

02/16/2015 8:45 EST Update

GBP/USD 4-hour: Start dropping from the pivot level.

Invest Diva positioning: Short positions below 1.5413 with targets at 1.5271 and 1.5150 in extension.

Technical reasons why: The pair was consolidating at the pivot level and starts dropping while it keeps being above the Ichimoku’s cloud. The RSI is heading down from the over-bought zone.

Alternative Scenario: Above 1.5413 look for further upside towards 1.5573 and 1.5753.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5271 1.5413 1.5753
1.5150 1.5573

AUD/USD 4-hour: Teasing below the pivot level.

Invest Diva positioning: Short positions below 0.7794 with targets at 0.7660 and 0.7457 in extension.

Technical reasons why: The pair is consolidating below the Ichimoku’s cloud and the pivot level at 0.7794. The RSI is around the neutrality area.

Alternative Scenario: Above 0.7794 look for further upside with 0.8010 and 0.8227.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7660 0.7794 0.8227
0.7457 0.8010

NZD/USD 4-hour: Broke above the key resistance level.

Invest Diva positioning: Long positions above 0.7443 with targets at 0.7597 and 0.7697 in extension.

Technical reasons why: The pair broke above the key resistance level at 0.7443 and is moving up above the Ichimoku’s cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7443 look for further downside towards 0.7341 and 0.7220.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7341 0.7443 0.7697
0.7220 0.7597

USD/CAD 4-hour: Broke below Ichimoku’s cloud.

Invest Diva positioning: Short positions below 1.2445 with targets at 1.2090 and 1.1880 in extension.

Technical reasons why: The pair broke below the Ichimoku’s cloud but is now supported by the pivot level at 1.2445 just below the cloud. The RSI is below the neutrality area.

Alternative Scenario: Below 1.2445 look for further downside with 1.2630 and 1.2779.

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2090 1.2445 1.2779
1.1880 1.2630

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