Today’s Forex Guide

GBP/USD 4-hour: Broke below the triangle.


Dec.08.2014


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Moving down.

Invest Diva positioning: Short positions below 1.2245 with targets at 1.2165 and 1.2056 in extension.

Technical reasons why: The pair is on an overall downtrend below the Ichimoku's cloud. The RSI reached the oversold zone.

Alternative Scenario: Above 1.2245 look for further upside towards 1.2300 and 1.2379.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2165 1.2245 1.2379
1.2056 1.2300


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Broke below the triangle.

Invest Diva positioning: Short positions below 1.5615 with targets at 1.5474 and 1.5375 in extension.

Technical reasons why: The pair once broke below the triangle chart pattern but is now back to its lower boundary below the Ichimoku's cloud. The RSI is around the neuutrality area.

Alternative Scenario: Above 1.5615 look for further upside towards 1.5749 and 1.5832.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5474 1.5615 1.5832
1.5375 1.5749


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Pulling back.

Invest Diva positioning: Long positions above 120.88 with targets at 121.76 and 122.92 in extension.

Technical reasons why: The pair reached our short term bearish target above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Above 120.88 look for further upside towards 119.78 and 118.45.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
119.78 120.88 122.92
118.45 121.76


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Continue to move up.

Invest Diva positioning: Long positions above 0.9777 with targets at 0.9837 and 0.9896 in extension.

Technical reasons why: The pair broke above the previous top level above the Ichimoku's cloud. The RSI is moving above the neutrality area.

Alternative Scenario: Below 0.9777 look for further downside towards 0.9687 and 0.9631.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9687 0.9777 0.9896
0.9631 0.9837


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Moving within the bearish channel.

Invest Diva positioning: Short positions below 0.8318 with targets at 0.8214 and 0.8102 in extension.

Technical reasons why: The pair is consolidating below our pivot level at 0.8318 while remaining within the bearish channel below the Ichimoku's cloud. The RSI is around the oversold zone.

Alternative Scenario: Above 0.8318 look for further upside towards 0.8387 and 0.8507.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8214 0.8318 0.8387
0.8102 0.8507


USD/CAD 4-hour Forex Dance Floor
USD/CAD 4-hour: Broke above the previous top.

Invest Diva positioning: Long positions above 1.1463 with targets at 1.1512 and 1.1570 in extension.

Technical reasons why: The pair reached and surpassed the precvious top level and our bullish target at 1.1463 above the Ichimoku's cloud. The RSI is around the overbought zone.

Alternative Scenario: Below 1.1463 look for further downside towards 1.1372 and 1.1317.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1372 1.1463 1.1570
1.1317 1.1512

signup

preview

get it

Back to Top

Learn How to Grow Your Wealth