Today’s Forex Guide

EUR/USD 4-hour: Supported by the Ichimoku’s cloud


Mar.27.2015

3:30 pm (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Supported by the Ichimoku's cloud.

Invest Diva positioning: Long positions above 1.0854 with targets at 1.1092 and 1.1239 in extension.

Technical reasons why: The pair was temporary moving down while it was on an overall uptrend but is now rebounding from our pivot level at the 38% Fibonacci level and the Ichimoku's cloud. The RSI is at the neutrality area.

Alternative Scenario: Below 1.0854 look for further downside with 1.0707 and 1.0469.

Support Levels Turning Point Resistance Levels
1.0707 1.0854 1.1239
1.0469 1.1092


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Continues to consolidate.

Invest Diva positioning: No positions.

Technical reasons why: The pair continues to consolidate between the key levels at the 38% and 23% Fibonacci level around the Ichimoku's cloud. The RSI also remains just around the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4734 1.4986 1.5023
1.4637 1.4853 1.5094

 

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