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Euro & You Made My Day


Apr.10.2014

I'm overwhelmingly grateful  for all your lovely and heartfelt emails, messages and phone calls yesterday for my mom's surgery and my birthday which happened to be on the same day. Words can't express my gratitude. I was brought to tears multiple times by empowering personal stories some of you shared with me.  Getting old is getting less fun as the age goes up, and having a birthday while at a hospitals waiting room makes it even less fun but your positive energy and prayers helped me get through with the tough day. The good news is that my mom's surgery was satisfactory, she is now in recovery and we are ready for today's diamond analysis on a currency pair dancing on the forex dance floor.

1 Kiana Danial

And the pick of the day is the pair who made me a lot of money while I was absent from the dance floor. If you’ve been following my trades and videos, you probably know that I’m talking about EUR/USD who did rebound from the 50% Fibonacci level where I had set my bullish entry order and has been dancing upward with full force. The RSI is above the neutrality area, yet to reach the overbought zone. The pair could dance towards the fresh year high of March at 1.39561 and the next target would be the 1.42 area.  Now a break below 1.345 would alter our bullish scenario to bearish, with 1.33 and 1.299 as targets.

EURUSD technical analysis fibonacci RSI daily chart

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Intraday Forex Technical Levels

 

EUR/USD Intraday: supported by a rising trend line

 

Our preference: Long positions above 1.383 with targets @ 1.3895 & 1.3935 in extension.

Alternative scenario: Below 1.383 look for further downside with 1.38 & 1.377 as targets.

Comment: The pair remains supported by a rising trend line.

Supports and resistances:
1.3965
1.3935
1.3895
1.3868 Last
1.383
1.38

1.377

GBP/USD Intraday: the upside prevails.

Our preference: Long positions above 1.6755 with targets @ 1.682 & 1.685 in extension.

Alternative scenario: Below 1.6755 look for further downside with 1.672 & 1.668 as targets.

Comment: The pair is pulling back on its support ahead of further advance.

Supports and resistances:
1.6915
1.685
1.682
1.6782 Last
1.6755
1.672
1.668

USD/JPY Intraday: key resistance at 102.15.

Our preference: Short positions below 102.15 with targets @ 101.45 & 101.2 in extension.

Alternative scenario: Above 102.15 look for further upside with 102.4 & 102.65 as targets.

Comment: As long as the resistance at 102.15 is not surpassed, the risk of the break below 101.45 remains high.

Supports and resistances:
102.65
102.4
102.15
101.681 Last
101.45
101.2
100.8

USD/CHF Intraday: capped by a negative trend line.

Our preference: Short positions below 0.8805 with targets @ 0.876 & 0.872 in extension.

Alternative scenario: Above 0.8805 look for further upside with 0.8825 & 0.8845 as targets.

Comment: The pair remains capped by a declining trend line.

Supports and resistances:
0.8845
0.8825
0.8805
0.8781 Last
0.876
0.872
0.8695

NZD/USD Intraday: the upside prevails.

Our preference: Long positions above 0.868 with targets @ 0.875 & 0.8775 in extension.

Alternative scenario: Below 0.868 look for further downside with 0.864 & 0.861 as targets.

Comment: The RSI is mixed to bullish. The pair remains on the upside and is challenging its previous top.

Supports and resistances:
0.8805
0.8775
0.875
0.8701 Last
0.868
0.864
0.861

 

AUD/USD Intraday: the bias remains bullish.

Our preference: Long positions above 0.9365 with targets @ 0.9485 & 0.954 in extension.

Alternative scenario: Below 0.9365 look for further downside with 0.933 & 0.9295 as targets.

Comment: The RSI is well directed. The pair remains within a bullish channel.

Supports and resistances:
0.958
0.954
0.9485
0.9419 Last
0.9365
0.933
0.9295

USD/CAD Intraday: capped by a negative trend line.

Our preference: Short positions below 1.0905 with targets @ 1.0855 & 1.082 in extension.

Alternative scenario: Above 1.0905 look for further upside with 1.0935 & 1.0955 as targets.

Comment: The RSI lacks upward momentum. The pair is posting a rebound but remains capped by a declining trend line.

Supports and resistances:
1.0955
1.0935
1.0905
1.0898 Last
1.0855
1.082
1.0745

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