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Did Mr. Euro Just break that Level?


May.23.2014

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Oh no he didn’t! Mr. Euro just broke below the 61% Fibonacci level at 1.365 as he dances with Ms. USA on the forex dance floor. This is the lowest the pair has danced since February. It started with the not-so-good news on Thursday both in the Eurozon and the US. In the Eurozone, Manufacturing PMIs softened in April, while in the US, Unemployment Claims and Existing Houses both missed expectations.

This morning we heard of the German GDP report which fell in line with expectations BUT the German IFO showed lower level of economic health in the Eurozone. This headline business climate index fell to 110.4 (110.9 estimates vs 111.2 prior), the lowest level in 5-months.

On the daily dance floor, the pair is now dancing below the Ichimoku cloud with the RSI reaching the Oversold zone. Intraday we could see more downward moves with 1.36 and 1.3565 in extension, but with the RSI and other technical signals, we could expect the prices to go back up in a long run with 1.4050 and 1.4245 as targets.

EURUSD daily technical analysis candlestick chart fibonacci Ichimoku RSI bearish bulish signal

Long term traders. Don’t sweat the small losses and look at the big picture. Short term traders, invest responsibly. And wait, are we hooked up on the social media? To get the most recent intraday updates, don’t forget to follow Invest Diva on Twitter and Facebook.

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Intraday Technical Forex Signals

EUR/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 1.365 with targets @ 1.36 & 1.3565 in extension.

If pair goes nuts:  Above 1.365 look for further upside with 1.369 & 1.372 as targets.

What’s up on the dance floor:: The break below 1.365 is a negative signal that has opened a path to 1.36.

Supports and resistances:
1.372
1.369
1.365
1.3627 Last
1.36
1.3565
1.354

GBP/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 1.6875 with targets @ 1.682 & 1.68 in extension.

If pair goes nuts:  Above 1.6875 look for further upside with 1.692 & 1.697 as targets.

What’s up on the dance floor:: As long as the resistance at 1.6875 is not surpassed, the risk of the break below 1.682 remains high.

Supports and resistances:
1.697
1.692
1.6875
1.6834 Last
1.682
1.68
1.678

USD/JPY Intraday: further advance.

Invest Diva likes: Long positions above 101.5 with targets @ 102.1 & 102.35 in extension.

If pair goes nuts:  Below 101.5 look for further downside with 101.2 & 101.05 as targets.

What’s up on the dance floor:: The RSI is bullish and calls for further upside.

スライド1

Supports and resistances:
102.55
102.35
102.1
101.899 Last
101.5
101.2
101.05

USD/CHF Intraday: further upside.

Invest Diva likes: Long positions above 0.894 with targets @ 0.8985 & 0.9015 in extension.

If pair goes nuts:  Below 0.894 look for further downside with 0.892 & 0.8895 as targets.

What’s up on the dance floor:: The RSI broke above a declining trend line.

スライド3

Supports and resistances:
0.904
0.9015
0.8985
0.8959 Last
0.894
0.892
0.8895

NZD/USD Intraday: the downside prevails.

Invest Diva likes: Short positions below 0.8575 with targets @ 0.851 & 0.8485 in extension.

If pair goes nuts:  Above 0.8575 look for further upside with 0.8595 & 0.8635 as targets.

What’s up on the dance floor:: The RSI is bearish and calls for further downside. The pair is trading in a bearish channel.

Supports and resistances:
0.8635
0.8595
0.8575
0.8546 Last
0.851
0.8485
0.8465

AUD/USD Intraday: intraday support around 0.9205

Invest Diva likes: Long positions above 0.9205 with targets @ 0.9275 & 0.9315 in extension.

If pair goes nuts:  Below 0.9205 look for further downside with 0.9175 & 0.915 as targets.

What’s up on the dance floor:: A support base at 0.9205 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
0.934
0.9315
0.9275
0.9226 Last
0.9205
0.9175
0.915

USD/CAD Intraday: intraday support around 1.0885

Invest Diva likes: Long positions above 1.0885 with targets @ 1.094 & 1.096 in extension.

If pair goes nuts:  Below 1.0885 look for further downside with 1.0845 & 1.081 as targets.

What’s up on the dance floor:: A support base at 1.0885 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
1.099
1.096
1.094
1.0898 Last
1.0885
1.0845
1.081

Intraday US Index Signals

S&P500

Long positions above 1874 with targets @ 1899 & 1906 in extension.

Alternative scenario: Below 1874 look for further downside with 1864 & 1859 as targets.

Dow Jones

Long positions above 16390 with targets @ 16560 & 16620 in extension.

Alternative scenario: Below 16390 look for further downside with 16310 & 16240 as targets.

 

Nasdaq 100

Long positions above 3610 with targets @ 3660 & 3680 in extension.

Alternative scenario: Below 3610 look for further downside with 3584 & 3564 as targets.

 

Russell 2000

Long positions above 1088 with targets @ 1115 & 1126 in extension.

Alternative scenario: Below 1088 look for further downside with 1078 & 1068 as targets.

 

 

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