Today’s Forex Guide

AUD/USD 4-hour: Rebounding below the pivot level


Apr.01.2015

8:30 am (EST) Update:

GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Moving within the range of 1.498 and 1.474.

Invest Diva positioning: Long positions above 1.4742 with targets at 1.4853 and 1.4986 in extension.

Technical reasons why: The pair has been moving within the range of 1.4986 and 1.4742 key levels. As the pair reaching its key support level, rebound towards the 23% Fibonacci level would be expected. The RSI keeps around the neutrality area.

Alternative Scenario: Below 1.4742 look for further downside with 1.4637 and 1.4486.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4637 1.4742 1.4986
1.4486 1.4853


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Rebounding below the pivot level.

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

Technical reasons why: The pair is rebounding at the pivot level with the evening star candle-stick pattern below the Ichimoku's cloud. The RSI is at the 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/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Consolidating.

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating at the 23% Fibonacci level inside the Ichimoku's cloud. The RSI is at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9425 0.9691 1.0121
0.9210 0.9990


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Back to the support level.

Invest Diva positioning: Long positions above 1.2645 with targets at 1.2747 and 1.2833 in extension.

Technical reasons why: The pair failed to break above the resistance level and then is back to the support level at 1.2645 above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.2645 look for further downside with 1.2524 and 1.2412.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2524 1.2645 1.2833
1.2412 1.2747

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