Today’s Forex Guide

EUR/USD 4-hour: Testing the Ichimoku’s cloud and 38% Fibonacci


Apr.02.2015

8:30 am (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Testing the Ichimoku's cloud and 38% Fibonacci.

Invest Diva positioning: Long positions above 1.0824 with targets at 1.0910 and 1.1051 in extension.

Technical reasons why: The pair is moving along the lower boundary of the Ichimoku's cloud and reached the 38% Fibonacci level at 1.0824. The RSI is above the neutrality area.

Alternative Scenario: Below 1.0824 look for further downside with 1.0725 and 1.0596.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0725 1.0824 1.1051
1.0596 1.0910


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Reached the previous bottom.

Invest Diva positioning: Short positions below 0.7559 with targets at 0.7498 and 0.7426 in extension.

Technical reasons why: The pair keeps on an overall downtrend as reaching our target at its previous bottom level at 0.7559 below the Ichimoku's cloud. The RSI is around the over-sold zone.

Alternative Scenario: Above 0.7559 look for further upside with 0.7648 and 0.7748.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7498 0.7559 0.7748
0.7426 0.7648


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Teasing the Ichimoku's cloud.

Invest Diva positioning: Short positions below 0.9638 with targets at 0.9489 and 0.9373 in extension.

Technical reasons why: The pair is teasing the lower boundary of the Ichimoku's cloud below the pivot level at 0.9638 as rebounding from the 38% Fibonacci level. The RSI is below the neutrality area.

Alternative Scenario: Above 0.9638 look for further upside with 0.9731 and 0.9805.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9425 0.9691 1.0121
0.9210 0.9990


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Consolidating within the Ichimoku's cloud.

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating at the 38% Fibonacci level in the Ichimoku's cloud. The RSI is at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.19 119.73 122.14
118.32 120.28

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