Today’s Forex Guide

EUR/USD 4-hour: Testing the previous bottom


Mar.13.2015

3:30 pm (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Testing the previous bottom.

Invest Diva positioning: Short positions below 1.0507 with targets at 1.0384 and 1.0153 in extension.

Technical reasons why: The pair is testing the pivot level at 1.0507 as remaining on an oerall downtrend below the Ichimoku's cloud. The RSI is at over-sold zone.

Alternative Scenario: Above 1.0507 look for further upside with 1.0736 and 1.0877.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0384 1.0507 1.0877
1.0153 1.0736


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Testing the key resistance level.

Invest Diva positioning: Long positions above 1.2779 with targets at 1.2971 and 1.3161 in extension.

Technical reasons why: The pair again reached our bullish target at 1.2779 as testing the level above the Ichimoku's cloud. A break above this key resistance level would signal a further up-moves.

Alternative Scenario: Below 1.2779 look for further downside with 1.2659 and 1.2524.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2659 1.2779 1.3161
1.2524 1.2971

 

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