Today’s Forex Guide

GBP/USD 4-hour: Teasing lower boundary of Ichimoku’s cloud.


Jan.19.2015

Here are today's intraday technical analysis on 4 hour charts


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

Invest Diva positioning: No positions.

Technical reasons why: The pair is rebounding from our pivot level at 1.1536 below the Ichimoku's cloud but is forming the spinning top which shows market's indecisiveness. The RSI is below the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1384 1.1536 1.1782
1.1173 1.1663


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Teasing lower boundary of Ichimoku's cloud.

Invest Diva positioning: Short positions below 1.5121 with targets at 1.5053 and 1.4954 in extension.

Technical reasons why: The pair is trapped in the thick Ichimoku's cloud and is now teasing its lower boundary. A break below of this level would give a further drop. The RSI is below the neutrality area.

Alternative Scenario: Above 1.5121 look for further upside towards 1.5226 and 1.5332.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5053 1.5121 1.5226
1.4954 1.5332


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Remains below the key resistance level.

Invest Diva positioning: Short positions below 117.98 with targets at 116.05 and 113.66 in extension.

Technical reasons why: The pair moves up and down but remains below the Ichimoku's cloud and the key resistance level at 117.98. The RSI is around the neutrality area.

Alternative Scenario: Above 117.98 look for further upside towards 119.30 and 120.63.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
115.59 117.98 119.30
113.66 120.63


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

Invest Diva positioning: Long positions above 1.1996 with targets at 1.2090 and 1.2215 in extension.

Technical reasons why: The pair is still on an overall uptrend but is now consolidating below our pivot level at 1.1996 above the Ichimoku's cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.1996 look for further downside towards 1.1880 and 1.1795.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.1880 1.1996 1.2215
1.1795 1.2090


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

Invest Diva positioning: No positions.

Technical reasons why: The pair is consolidating at the 23% Fibonacci level at 0.8213 above the Ichimoku's cloud. The RSI is flat above the neutrality area.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.8145 0.8213 0.8412
0.8036 0.8322


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Moving along the Ichimoku's cloud.

Invest Diva positioning: Short positions below 0.7834 with targets at 0.7747 and 0.7694 in extension.

Technical reasons why: The pair is moving along with the upper boundary of the Ichimoku's cloud. The RSI is below the neutrality area.

Alternative Scenario: Above 0.7834 look for further upside towards 0.7910 and 0.7973.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7747 0.7834 0.7973
0.7694 0.7910

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