Today’s Forex Guide

Intraday Forex Technical Levels


Dec.05.2014


EUR/USD 4-hour Forex Dance Floor
EUR/USD 4-hour: Teasing the previous bottom.

Invest Diva positioning: Short positions below 1.2299 with targets at 1.2222 and 1.2164 in extension.

Technical reasons why: The pair is teasing the previous bottom and our bearish target at 1.2299 below the Ichimoku's cloud. The RSI is moving below the neutrality area.

Alternative Scenario: Above 1.2299 look for further upside towards 1.2356 and 1.2412.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2222 1.2299 1.2356
1.2164 1.2412


GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Moving within the triangle.

Invest Diva positioning: Short positions below 1.5705 with targets at 1.5591 and 1.5481 in extension.

Technical reasons why: The pair is forming the triangle chart pattern below the Ichimoku's cloud. The RSI is moving down from the neutrality area.

Alternative Scenario: Above 1.5705 look for further upside towards 1.5817 and 1.5887.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.5591 1.5705 1.15887
1.5481 1.5817

Support Levels Turning Point Resistance Levels
1.5591 1.5705 1.15887
1.5481 1.5817


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 moving within the bearish channel below the Ichimoku's cloud with the RSI reaching the oversold zone. Market sentiment of one of the largest international brokers shows that 72% of traders are long the pair and the combination of the technicals and current sentiment gives a further bearish bias.

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

Support Levels Turning Point Resistance Levels
0.8214 0.8318 0.8387
0.8102 0.8507


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Broke above the key support level.

Invest Diva positioning: Long positions above 0.9770 with targets at 0.9815 and 0.9856 in extension.

Technical reasons why: The pair reached and surpassed the previous top and key resistance level at 0.9770 above the Ichimoku's cloud. The RSI is moving above the neutrality area.

Alternative Scenario: Below 0.9770 look for further downside towards 0.9726 and 0.9649.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9726 0.9770 0.9856
0.9649 0.9815


USD/JPY 4-hour Forex Dance Floor
USD/JPY 4-hour: Moving up.

Invest Diva positioning: Short term short positions below 121.76 with targets at 120.88 and 119.78 in extension.

Technical reasons why: The pair continued to move up and reached our bullish target above the Ichimoku's cloud. It is teasing the upper boundary of the Bolliger band and the RSI is above the overbought zone. We would expect short term pull-back of the pair.

Alternative Scenario: Above 121.76 look for further upside towards 122.21 and 122.92.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
120.88 121.76 122.92
119.78 122.21


NZD/USD 4-hour Forex Dance Floor
NZD/USD 4-hour: Testing the key support level.

Invest Diva positioning: Short positions above 0.7714 with targets at 0.7667 and 0.7630 in extension.

Technical reasons why: The pair broke below the 23% Fibonacci level and reached our bearish target at 0.7714 below the Ichimoku's cloud. The RSI reached the oversold zone.

Alternative Scenario: Above 0.7714 look for further upside towards 0.7746 and 0.7795.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.7667 0.7764 0.7835
0.7630 0.7795

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