Today’s Forex Guide

AUD/USD 4-hour: Reached our bearish target below the Ichimoku’s cloud


Mar.30.2015

3:30 pm (EST) Update

AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Reached our bearish target below the Ichimoku's cloud.

Invest Diva positioning: Short positions below 0.7648 with targets at 0.7559 and 0.7457 in extension.

Technical reasons why: The pair reached our bearish target at 0.7648 as breaking below the Ichimoku's cloud. The RSI reached over-sold zone.

Alternative Scenario: Above 0.7648 look for further upside with 0.7748 and 0.7848.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7550 0.7648 0.7848
0.7457 0.7748


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Entering the Ichimoku's cloud.

Invest Diva positioning: Long positions above 120.16 with targets at 121.14 and 122.01 in extension.

Technical reasons why: The pair is rebounding from the previous bottom as reaching the 50% Fibonacci level at 120.16 inside the Ichimoku's cloud. A break above this level and the Ichimoku's cloud would signal further up-moves. The RSI is above the neutrality area.

Alternative Scenario: Below 120.16 look for further downside with 119.92 and 118.32.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.92 120.16 122.01
118.32 121.14

 

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