Today’s Forex Guide

GBP/USD 4-hour: Broke below the Ichimoku’s cloud


Mar.03.2015

8:30am (EST) Update

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

Invest Diva positioning: Short positions below 1.5407 with targets at 1.5328 and 1.5263 in extension.

Technical reasons why: The pair broke below the 23% Fibonacci level and the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 1.5407 look for further upside with 1.5537 and 1.5634.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5328 1.5407 1.5634
1.5263 1.5537


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

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating at the 50% Fibonacci level above 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
0.7447 0.7532 0.7720
0.7175 0.7616


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Keep moderate uptrend.

Invest Diva positioning: Long positions above 0.9501 with targets at 0.9767 and 1.0197 in extension.

Technical reasons why: The pair continues to move up moderately above the Ichimoku's cloud. The RSI is also moving above the neutrality area.

Alternative Scenario: Below 0.9501 look for further downside with 0.9286 and 0.9070.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9286 0.9501 1.0197
0.9070 0.9767


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Consolidating.

Invest Diva positioning: No positions.

Technical reasons why: The pair continues to consolidate at the pivot level at 1.2524 and around the Ichimoku's cloud. The RSI is slightly above the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2378 1.2524 1.2779
1.2090 1.2630

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