Today’s Forex Guide

EUR/USD 4-hour: Broke above the Ichimoku’s cloud


Mar.23.2015

8:30 am (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Broke above the Ichimoku's cloud.

Invest Diva positioning: Long positions above 1.0854 with targets at 1.0973 and 1.1092 in extension.

Technical reasons why: The pair broke reached our target at the 38% Fibonacci level as breaking above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.0854 look for further downside with 1.0613 and 1.0469.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0613 1.0854 1.1092
1.0469 1.0973


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Testing the key resistance level.

Invest Diva positioning: No positions.

Technical reasons why: The pair is testing the key resistance level at the 38% Fibonacci level above the Ichimoku's cloud. The RSI is above the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7222 0.7823 0.7985
0.7648 0.7904


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Reaching the 23% Fibonacci level.

Invest Diva positioning: Short positions below 0.9990 with targets at 0.9691 and 0.9425 in extension.

Technical reasons why: The pair is approaching to our first bearish target at the 23% Fibonacci level at 0.9691 below the Ichimoku's cloud. A break below this level would signal a further down-moves. The RSI is below the neutrality area.

Alternative Scenario: Above 0.9990 look for further upside with 1.0121 and 1.0232.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9691 0.9990 1.0232
0.9425 1.0121


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Testing the support level.

Invest Diva positioning: Short positions below 119.69 with targets at 119.14 and 118.26 in extension.

Technical reasons why: The pair is testing the support level at the 61% Fibonacci level below the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 119.69 look for further upside with 120.13 and 120.57.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.14 119.69 120.57
118.26 120.13

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