Today’s Forex Guide

EUR/USD 4-hour: Rebounding.


Dec.09.2014


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Rebounding.

Invest Diva positioning: Long positions above 1.2379 with targets at 1.2428 and 1.2507 in extension.

Technical reasons why: The pair is teasing our bullish target at 1.2379 after rebouding just below the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.2379 look for further downside towards 1.2300 and 1.2245.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2300 1.2379 1.2507
1.2245 1.2428


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Rebounding.

Invest Diva positioning: Long positions above 0.8318 with targets at 0.8387 and 0.8507 in extension.

Technical reasons why: The pair is on an overall downtrend but is now rebouding above our bearish target at 0.8214 below the Ichimoku's cloud. The RSI is moving below the neutrality area.

Alternative Scenario: Below 0.8318 look for further downside towards 0.8214 and 0.8102.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8214 0.8318 0.8387
0.8102 0.8507


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Rebounding.

Invest Diva positioning: Long positions above 0.7628 with targets at 0.7716 and 0.7791 in extension.

Technical reasons why: The pair is rebounding from the previous bottom at 0.7628 below the Ichimoku's cloud. The RSI moving up to the neutrality area.

Alternative Scenario: Below 0.7628 look for further downside towards 0.7487 and 0.7396.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7487 0.7628 0.7791
0.7296 0.7716


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Pulling back.

Invest Diva positioning: Short term short positions below 119.78 with targets at 118.45 and 117.21 in extension.

Technical reasons why: The pair faces pull back from the previous top level at 121.76 while remaining above the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 119.78 look for further upside towards 120.88 and 121.76.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.78 120.88 122.92
118.45 121.76


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Failed to enter the Ichimoku's cloud.

Invest Diva positioning: Short positions below 1.5709 with targets at 1.5562 and 1.5474 in extension.

Technical reasons why: The pair tested entering the ichimoku cloud but failed and headed down. The RSI is above the neutrality area.

Alternative Scenario: Below 1.5709 look for further downside towards 1.5799 and 1.5873.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels

Support Levels Turning Point Resistance Levels
1.5562 1.5709 1.5873
1.5474 1.5709


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Rebounding.

Invest Diva positioning: Long positions above 0.9687 with targets at 0.9777 and 0.9837 in extension.

Technical reasons why: The pair failed to enter the ichimoku cloud and formed a long legged doji candlestick which is often times a reversal signal. The RSI is heading up below the nuetrality area.

Alternative Scenario: Below 0.9687 look for further downside towards 0.9631 and 0.9586.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9687 0.9777 0.9896
0.9631 0.9837

signup

preview

get it

Back to Top

Learn How to Grow Your Wealth