02/19/2015 8:30 EST Update
GBP/USD 4-hour: Testing the 76% Fibonacci level.
Invest Diva positioning: Long positions above 1.5441 with targets at 1.5584 and 1.5753 in extension.
Technical reasons why: The pair is on an overall uptrend above the Ichimoku’s cloud and is now testing the 76% Fibonacci level at 1.5413. The RSI is above the nuetrality area.
Alternative Scenario: Below 1.5441 look for further downside with 1.5280 and 1.5208.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5280 | 1.5441 | 1.5753 |
| 1.5208 | 1.5584 |
AUD/USD 4-hour: Consolidating.
Invest Diva positioning: No positions.
Technical reasons why: The pair is consolidating at the 23% Fibonacci level at 0.7790 above the Ichimoku’s cloud. The RSI is around the neutrality area.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7648 | 0.7790 | 0.8249 |
| 0.7457 | 0.8019 |
USD/CHF 4-hour: Slightly moving up.
Invest Diva positioning: Long positions above 0.9336 with targets at 0.9556 and 0.9730 in extension.
Technical reasons why: The pair has slight up-moves above our pivot level at 0.9336 above the Ichimoku’s cloud and is heading to our first bullish target at 0.9556. The RSI is at the over-bought zone.
Alternative Scenario: Below 0.9336 look for further downside with 0.8977 and 0.8350.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.8977 | 0.9336 | 0.9730 |
| 0.8350 | 0.9556 |
USD/CAD 4-hour: Teasing the Ichimoku’s cloud.
Invest Diva positioning: Long positions above 1.2360 with targets at 1.2630 and 1.2779 in extension.
Technical reasons why: The pair is rebounding from the the key support level and is now teasing the Ichimoku’s cloud to reach our first bullish target at 1.2630. The RSI is heading up above the neutrality area.
Alternative Scenario: Below 1.2360 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 | 1.2360 | 1.2779 |
| 1.1880 | 1.2630 |
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