Today’s Forex Guide

EUR/USD 4-hour: Stays above the key support level at 1.1150


Mar.03.2015

3:45 pm (EST) Update

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

Invest Diva positioning: Short positions below 1.1150 with targets at 1.1067 and 1.0931 in extension.

Technical reasons why: The pair is consolidating above the key support level at 1.1150 while it remains below the Ichimoku's cloud and the RSI is moving below the neutrality area. A break below this level would signal a further down-moves.

Alternative Scenario: Above 1.1150 look for further upside with 1.1261 and 1.1386.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1067 1.1150 1.1386
1.0931 1.1261


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Back to the 61% Fibonacci level.

Invest Diva positioning: Long positions above 119.59 with targets at 119.91 and 120.44 in extension.

Technical reasons why: The pair is back to the key level at the 61% Fibonacci level while it remains above the Ichimoku's cloud with the RSI above the neutrality area.

Alternative Scenario: Below 119.59 look for further downside with 119.33 and 118.74.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.33 119.59 120.44
118.74 119.91

 

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