Today’s Forex Guide

EUR/USD Rebounding towards key support level


Jan.26.2015

1/26/2015 15:30 update


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Dropping.

Invest Diva positioning: Short positions below 0.7396 with targets at 0.7330 and 0.7265 in extension.

Technical reasons why: The pair continues to move down and almost reaches our bearish target at 0.7396 below the Ichimoku's cloud. The RSI is moving at over-sold zone.

Alternative Scenario: Above 0.7473 look for further upside towards 0.7625 and 0.7694.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7396 0.7473 0.7625
0.7265 0.7396 0.7330


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

Invest Diva positioning: Long positions above 0.8997 with targets at 0.9095 and 0.9241 in extension.

Technical reasons why: The pair reached the bullish target at 0.8997 and is entering the thick Ichimoku's cloud. The RSI is heading to over-bought zone.

Alternative Scenario: Below 0.8997 look for further downside towards 0.8745 and 0.8375.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8745 0.8997 0.9241
0.8375 0.9095

1/26/2015 8:30 update


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Rebounding towards key support level.
Invest Diva positioning: Short positions below 1.1173 with targets at 1.0995 and 1.0807 in extension.

Technical reasons why: The pair keeps moving on an overall downtrend. It is moving back down towards a key support level at 1.1173 while remaining below the Ichimoku's cloud. A confirmation of a break below this level would signal further drops. The RSI is below the over-sold zone.

Alternative Scenario: Above 1.1173 look for further upside towards 1.1384 and 1.1548.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.0995 1.1173 1.1548
1.0807 1.1384


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Reached the bearish target.

Invest Diva positioning: Short positions below 0.7879 with targets at 0.7700 and 0.7457 in extension.

Technical reasons why: The pair reached our bearish target at 0.7879 below the Ichimoku's cloud. The RSI also reached the over-sold zone.

Alternative Scenario: Above 0.7879 look for further upside towards 0.8036 and 0.8213.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7700 0.7879 0.8036
0.7457 0.8213


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

Invest Diva positioning: Long positions above 117.88 with targets at 118.79 and 120.63 in extension.

Technical reasons why: The pair broke above the Ichimok's cloud and the pivot level at 117.88. The RSI is above the neutrality area.

Alternative Scenario: Below 117.88 look for further downside towards 116.05 and 113.66.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
116.05 117.88 120.63
113.66 118.79


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Uptrend prevails.

Invest Diva positioning: Long positions above 1.2445 with targets at 1.2664 and 1.2779 in extension.

Technical reasons why: The pair continues to move up above the Ichimoku's cloud. The RSI is moving above the over-bought zone.

Alternative Scenario: Below 1.2445 look for further downside towards 1.2323 and 1.2090.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2323 1.2445 1.2779
1.2090 1.2664

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