And the pick of the day is GBP/USD, as we have 2 top tier forex events to rock the forex dance floor tomorrow. The UK job release, and the Bank of England inflation report. UK chancellor thinks recent rocking jobs data is proof that their economic plan is working. Mr. British pound continues dancing up against Ms. USA on the daily dance floor within an upward channel above the Ichimoku cloud, with the RSI above the neutrality area and not overbought. Another stronger than expected jobs report could get the pair jump up to our previously set targets at 1.704 or even 1.74. We need to be on a watch out tomorrow though and loosen up and stops and limits in order to avoid a sudden unpredicted short-term volatility ; if you are on a long term trade that is. Remember that BOE Governor Carney has mentioned that the central bank might be ready to hike interest rates before the U.K. general elections take place next year. Even though this still depends on whether or not actual economic figures support a removal of monetary stimulus in the near future we still need to keep our eyes open. A downside breakout of 1.6450 would call for 1.62 and 1.5870 in extension.
A quick word with our Japanese followers, このビデオの日本語原稿を用意しておりますので、よければご参照ください。日本語バージョンのビデオレポートは今月中に始まります！
Long term traders. Don’t sweat the small losses and look at the big picture. Short term traders, invest responsibly. And if you liked this video, share it on Facebook or Twitter or any other awesome means of social media and help you friends learn something new today.
US Daily Intraday Forex Technical Levels
EUR/USD Intraday: the downside prevails.
Invest Diva preference: Short positions below 1.375 with targets @ 1.367 & 1.364 in extension.
Alternative scenario: Above 1.375 look for further upside with 1.3785 & 1.381 as targets.
Comment: The pair has broken below its support and remains on the downside.
Supports and resistances:
1.381
1.3785
1.375
1.3708 Last
1.367
1.364
1.362
GBP/USD Intraday: under pressure. |
Invest Diva preference: Short positions below 1.6885 with targets @ 1.68 & 1.6775 in extension.
Alternative scenario: Above 1.6885 look for further upside with 1.691 & 1.6935 as targets.
Comment: The pair has broken below its support and remains under pressure.
Supports and resistances:
1.6935
1.691
1.6885
1.684 Last
1.68
1.6775
1.676
USD/JPY Intraday: the upside prevails.
Invest Diva preference: Long positions above 102.05 with targets @ 102.4 & 102.55 in extension.
Alternative scenario: Below 102.05 look for further downside with 101.95 & 101.8 as targets.
Comment: The pair is trading within a bullish channel.
Supports and resistances:
102.7
102.55
102.4
102.285 Last
102.05
101.95
101.8
USD/CHF Intraday: the bias remains bullish.
Invest Diva preference: Long positions above 0.885 with targets @ 0.893 & 0.8955 in extension.
Alternative scenario: Below 0.885 look for further downside with 0.883 & 0.88 as targets.
Comment: The pair has broken above its resistance and remains on the upside.
Supports and resistances:
0.899
0.8955
0.893
0.8901 Last
0.885
0.883
0.88
NZD/USD Intraday: under pressure.
Invest Diva preference: Short positions below 0.867 with targets @ 0.8595 & 0.8545 in extension.
Alternative scenario: Above 0.867 look for further upside with 0.871 & 0.8745 as targets.
Comment: A break below 0.8595 would trigger a drop towards 0.8545.
Supports and resistances:
0.8745
0.871
0.867
0.8644 Last
0.8595
0.8545
0.851
AUD/USD Intraday: the downside prevails.
Invest Diva preference: Short positions below 0.9365 with targets @ 0.9315 & 0.928 in extension.
Alternative scenario: Above 0.9365 look for further upside with 0.9395 & 0.9425 as targets.
Comment: As long as 0.9365 is resistance, look for choppy price action with a bearish bias. The pair has broken below a bullish channel support.
Supports and resistances:
0.9425
0.9395
0.9365
0.936 Last
0.9315
0.928
0.925
USD/CAD Intraday: bullish bias above 1.087.
Invest Diva preference: Long positions above 1.087 with targets @ 1.094 & 1.099 in extension.
Alternative scenario: Below 1.087 look for further downside with 1.0835 & 1.081 as targets.
Comment: The RSI calls for a new upleg.
Supports and resistances:
1.101
1.099
1.094
1.0899 Last
1.087
1.0835
1.081
Intraday US Indexes
S&P500 :
Long positions above 1885 with targets @ 1901 & 1906 in extension.
Alternative scenario: Below 1885 look for further downside with 1875 & 1862 as targets.
Dow Jones:
Long positions above 16570 with targets @ 16715 & 16775 in extension.
Alternative scenario: Below 16570 look for further downside with 16440 & 16300 as targets.
Nasdaq 100:
Our preference: Long positions above 3580 with targets @ 3630 & 3657 in extension.
Alternative scenario: Below 3580 look for further downside with 3547 & 3507 as targets.
