Today’s Forex Guide

AUD/USD 4-hour: Pulling back below the Ichimoku’s cloud


Apr.03.2015

3:30 pm (EST) Update

AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Pulling back below the Ichimoku's cloud.

Maria's positioning: Short positions below 0.7670 with targets at 0.7552 and 0.7498 in extension.

Technical reasons why: The pair faces pull-back after rebounding from the key level at 0.7552 below the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 0.7670 look for further upside with 0.7792 and 0.7912.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7552 0.7670 0.7792
0.7498 0.7912


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Rebounding from the previous bottom level.

Maria's positioning: Long positions above 0.9489 with targets at 0.9597 and 0.9731 in extension.

Technical reasons why: After breaking below the Ichimoku's cloud and reaching the previous bottom at 0.9489, the pair is rebounding from the level, which would expect temporary up-moves. The RSI is rebounding from the over-sold zone.

Alternative Scenario: Below 0.9489 look for further downside with 0.9373 and 0.9255.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9373 0.9489 0.9731
0.9255 0.9597

 

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