Today’s Forex Guide

EUR/USD 4-hour: Downtrend prevails.


Jan.16.2015


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Downtrend prevails.

Invest Diva positioning: Short positions below 1.1663 with targets at 1.1536 and 1.1384 in extension.

Technical reasons why: The pair continues to drop to our bearish target below the Ichimoku's cloud. The RSI reached the oversold area.

Alternative Scenario: Above 1.1663 look for further upside towards 1.1782 and 1.1875.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1536 1.1663 1.1782
1.1384 1.1875


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Consolidating within the Ichimoku's cloud.

Invest Diva positioning: Long positions above 1.5226 with targets at 1.5332 and 1.5505 in extension.

Technical reasons why: The pair keeps consolidating at the 23% Fibonacci level at 1.5226 within the thick Ichimoku's cloud. The RSI is around the neutrality area.

Alternative Scenario: Below 1.5226 look for further downside towards 1.5053 and 1.4954.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5053 1.5226 1.505
1.4954 1.5332


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Failed to break above the key resistance level.

Invest Diva positioning: Short positions below 0.8250 with targets at 0.8145 and 0.8036 in extension.

Technical reasons why: The pair failed to break above the key resistance level at 0.8250 and is rebounding above the Ichimoku's cloud. The RSI is moving down to the neutrality area.

Alternative Scenario: Above 0.8250 look for further upside towards 0.8322 and 0.8412.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8145 0.8250 0.8412
0.8036 0.8322


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Reached our bullish target.

Invest Diva positioning: Long positions above 1.1996 with targets at 1.2090 and 1.2215 in extension.

Technical reasons why: The pair reached our bullish target and previous top at 1.996 and continues to mvoe up above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.1996 look for further downside towards 1.1880 and 1.1795.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1880 1.1996 1.2215
1.1795 1.2090


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Entered the Ichimoku's cloud.

Invest Diva positioning: Short positions below 0.7834 with targets at 0.7694 and 0.7607 in extension.

Technical reasons why: The pair is rebounding from 61% Fibonacci level and entered the Ichimoku's cloud. The RSI is at the neutrality area.

Alternative Scenario: Above 0.7834 look for further upside towards 0.7910 and 0.7973.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7747 0.7834 0.7973
0.7694 0.7887


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Remains below the key resistance level.

Invest Diva positioning: Short positions below 117.98 with targets at 115.59 and 113.66 in extension.

Technical reasons why: The pair moves up and down but remains below the key resistance level at 117.98 and the Ichimoku's cloud. The RSI is at the neutrality area.

Alternative Scenario: Above 117.98 look for further upside towards 119.30 and 120.63.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
115.59 117.98 119.30
113.66 120.63

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