Today’s Forex Guide

EUR/USD 4-hour: Moving up to the key resistance level


Feb.23.2015

02/23/2015 15:30 EST Update


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Moving up to the key resistance level.

Invest Diva positioning: Short term long positions above 1.1277 with targets at 1.1426 and 1.1536 in extension.

Technical reasons why: The pair moves inside the small rage of key levels at 1.1426 and 1.1277, so it would be expected a short term up-moves to the key resistance level. The RSI is heading up to the neutrality area.

Alternative Scenario: Below 1.1277 look for further downside with 1.1146 and 1.0799.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1146 1.4260 1.1797
1.0799 1.1277 1.1536


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Continues to move between the key levels.

Invest Diva positioning: No positions.

Technical reasons why: The pair continues to move up and down between the pivot levels. The RSI is around the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
117.29 118.45 121.83
116.05 120.63

 

 

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