Today’s Forex Guide

2015- on the forex dance floor


Jan.05.2015

2015 started with a whim on the forex dance floor. Check out technical levels for today.

happy new year  currency pairs on the forex dance floor 2015

Intraday Forex Technical Levels


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: 1.1875 is the key support level.

Invest Diva positioning: Short positions below 1.1875 with targets at 1.1782 and 1.1663 in extension.

Technical reasons why: The pair continues to drop after reaching our previous bearish targets and is testing the key support level at 1.1875 below the Ichimoku's cloud. A break below the support level could signal even further downtrend. The RSI is moving below the oversold zone.

Alternative Scenario: Above 1.1875 look for further upside toward 1.9700 and 1.2056.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels

Support Levels Turning Point Resistance Levels
1.1782 1.1875 1.2056
1.1663 1.1970


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Downtrend prevails.

Invest Diva positioning: Short positions below 1.5273 with targets at 1.5173 and 1.4954 in extension.

Technical reasons why: The pair broke below our bearish target and the key support level at 1.5273 below the Ichimoku's cloud. The RSI is moving below the oversold zone.

Alternative Scenario: Above 1.5273 look for further upside toward 1.5375 and 1.5474.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels

Support Levels Turning Point Resistance Levels
1.5173 1.5273 1.5474
1.4954 1.5375


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Uptrend prevails.

Invest Diva positioning: Long positions above 1.0052 with targets at 1.0103 and 1.0162 in extension.

Technical reasons why: The pair surpassed our bullish targets and keeps moving up above the Ichimoku's cloud. The RSI is moving above the overbought zone.

Alternative Scenario: Below 1.0052 look for further downside towards 0.9963 and 0.9896.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels

Support Levels Turning Point Resistance Levels
0.9963 1.0052 1.0162
0.9896 1.0103


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Testing the key resistance level.

Invest Diva positioning: Long positions above 1.1795 with targets at 1.1880 at 1.1996 in extension.

Technical reasons why: The pair is testing our bullish target and the key resistance level at 1.1795 above the Ichimoku's cloud. A break above this level would give a further uptrend. The RSI is above the overbought zone.

Alternative Scenario: Below 1.1795 look for further downside towards 1.1665 and 1.1600.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels

Support Levels Turning Point Resistance Levels
1.1665 1.1795 1.1996
1.1600 1.1880


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Rebounding.

Invest Diva positioning: Long positions above 0.7694 with targets at 0.7747 and 0.7834 in extension.

Technical reasons why: The pair is rebounding from the key support level at 0.7607 below the Ichimoku's cloud. The RSI is heading to the neutrality area.

Alternative Scenario: Below 0.7694 look for further downside towards 0.7607 and 0.7487.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7607 0.7694 0.7834
0.7487 0.7747


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Consolidating.

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating below 120 level within the Ichimoku's cloud. The RSI is below the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.98 119.72 123.88
115.59 121.83

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