Today’s Forex Guide

EUR/USD 4-hour: Confirmed the double-top chart pattern


Apr.09.2015

3:30 pm (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Confirmed the double-top chart pattern.

Maria's Positioning: Short positions below 1.0686 with targets at 1.0596 and 1.0456 in extension.

Technical reasons why: The pair broke below the neck line at the 50% Fibonacci level at 1.0753 and confirmed the double-top pattern below the Ichimoku's cloud. The RSI reached the over-sold zone.

Alternative Scenario: Above 1.0686 look for further upside with 1.0753 and 1.0910.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0753 1.0686 1.0456
1.0910 1.0596


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Testing the 60% Fibonacci level.

Maria's Positioning: Long positions above 120.60 with targets at 120.93 and 121.14 in extension.

Technical reasons why: The pair keeps on an overall uptrend and reached the 61% Fibonacci level above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 120.60 look for further downside with 120.16 and 119.73.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
120.16 120.60 121.14
119.73 120.93

 

kiana happy birthday from maria

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