Today’s Forex Guide

EUR/USD 4-hour: Testing the 50% Fibonacci level


Mar.25.2015

8:30 am (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Testing the 50% Fibonacci level.

Invest Diva positioning: Long positions above 1.0973 with targets at 1.1092 and 1.1239 in extension.

Technical reasons why: The pair is testing the 50% Fibonacci level at 1.0973 above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.0973 look for further downside with 1.0854 and 1.0613.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0854 1.0973 1.1239
1.0613 1.1092


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Testing the resistance level at 50% Fibonacci.

Invest Diva positioning: Long positions above 0.7904 with targets at 0.7985 and 0.8086 in extension.

Technical reasons why: The pair is testing the resistance level at the 50% Fibonacci level above the Ichimoku's cloud. A break above this level would give a further up-trend. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7904 look for further downside with 0.7823 and 0.7722.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7823 0.7904 0.8086
0.7222 0.7985


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Moving up.

Invest Diva positioning: Long positions above 0.7617 with targets at 0.7721 and 0.7889 in extension.

Technical reasons why: The pair continues to move up as breaking above the key resistance level at the 61% Fibonacci level at 0.7617 above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7617 look for further downside with 0.7533 and 0.7450.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7823 0.7904 0.8086
0.7222 0.7985


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Broke below the support level.

Invest Diva positioning: Short positions below 119.69 with targets at 119.14 and 118.26 in extension.

Technical reasons why: The pair broke below the support level at the 61% Fibonacci level below the Ichimoku's cloud. The RSI reached the over-sold zone.

Alternative Scenario: Above 119.69 look for further upside with 120.13 and 120.57.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.14 119.69 120.57
118.26 120.13

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