Today’s Forex Guide

GBP/USD 4-hour: Short-term rebound


Feb.26.2015

8:30 am (EST) Update

EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Continues to consolidating.

Invest Diva positioning: No positions.

Technical reasons why: The pair continues moving inside the small rage of key levels at 1.1426 and 1.1277 with the RSI moving just at the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1146 1.4260 1.1797
1.0799 1.1277 1.1536


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Rebounding.

Invest Diva positioning: Short-term short positions below 1.5537 with targets at 1.5441 and 1.5352 in extension.

Technical reasons why: As the pair is on an overall uptrend above the Ichimoku's cloud, a further up-moves would be expected after a short-term rebound from the pivot level at 1.5537. The RSI is heading down from the over-bought zone.

Alternative Scenario: Above 1.5537 look for further upside with 1.5584 and 1.5707.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5441 1.5537 1.5707
1.5352 1.5584


AUD/USD 4-hour Forex Dance Floor
AUD/USD 4-hour: Teasing the 38% Fibonacci level.

Invest Diva positioning: Long positions above 0.7877 with targets at 0.7948 and 0.8019 in extension.

Technical reasons why: The pair is teasing the 38% Fibonacci level at 0.7877 above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7877 look for further downside with 0.7790 and 0.7648.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7790 0.7877 0.8019
0.7648 0.7949


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

Invest Diva positioning: Long positions above 0.7520 with targets at 0.7598 and 0.7693 in extension.

Technical reasons why: The pair reached our first bullish target at the 61% Fibonacci level at 0.7598 above the Ichimoku's cloud. The RSI is also above the neutrality area.

Alternative Scenario: Below 0.7520 look for further downside with 0.7443 and 0.7348.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7443 0.7520 0.7693
0.7348 0.7520

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