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Mr. USA is going DOWN


May.06.2014

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日本語の原稿はこちら

So. Ms. USA is going down and dragging many counterparts namely Mr. Swissy with her. One reason could be that, with a bit of a delay, European forex traders started to sell Ms. USA as soon as they got back from their May Day holiday, catching up with her weakness after Friday’s job’s report. It worked out for Invest Diva followers because we were bearish on Ms. USA against European major, namely, USD/CHF. We’ve been bearish on this pair as its trapped in a downward channel, failing to break above the Ichimoku cloud. The RSI is below the neutrality area and hasn’t reached the oversold zone. My target is set at a previous bottom at 0.86990 and we could see further drops with 0.86194 and 0.84620 as targets. Now a break above 0.91018 would shift our outlook to bullish with 0.93704 as alternative target.

USDCHF technical analysis bearish channel ichimoku RSI daily chart candlestick

 

A quick word with our Japanese followers, このビデオの日本語原稿を用意しておりますので、よければご参照ください。日本語バージョンのビデオレポートは今月中に始まります!

Back to English, Long term traders. Don’t sweat the small losses and look at the big picture. Short term traders, invest responsibly. And wait, are we hooked up on the social media? To get the most recent intraday updates, don’t forget to follow Invest Diva on Twitter and Facebook. I’ll see you tomorrow.

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Intraday Forex Technical Levels

EUR/USD Intraday: the upside prevails.

Our preference: Long positions above 1.3885 with targets @ 1.395 & 1.3975 in extension.

Alternative scenario: Below 1.3885 look for further downside with 1.387 & 1.385 as targets.

Comment: The pair has broken above its resistance and remains on the upside.

Supports and resistances:
1.401
1.3975
1.395
1.3938 Last
1.3885
1.387
1.385

GBP/USD Intraday: the upside prevails.

Our preference: Long positions above 1.691 with targets @ 1.698 & 1.7 in extension.

Alternative scenario: Below 1.691 look for further downside with 1.688 & 1.686 as targets.

Comment: The pair remains on the upside and is breaking above its previous top.

Supports and resistances:
1.703
1.7
1.698
1.6969 Last
1.691
1.688
1.686

USD/JPY Intraday: the downside prevails.

Our preference: Short positions below 102.2 with targets @ 101.65 & 101.45 in extension.

Alternative scenario: Above 102.2 look for further upside with 102.5 & 102.75 as targets.

Comment: The pair remains under pressure and is breaking below its support.

Supports and resistances:
102.75
102.5
102.2
101.7475 Last
101.65
101.45
101.3

USD/CHF Intraday: the downside prevails.

 

Our preference: Short positions below 0.8765 with targets @ 0.8725 & 0.871 in extension.

Alternative scenario: Above 0.8765 look for further upside with 0.878 & 0.8805 as targets.

Comment: The pair has broken below its support and remains under pressure.

Supports and resistances:
0.8805
0.878
0.8765
0.8736 Last
0.8725
0.871
0.87

NZD/USD Intraday: bullish bias above 0.869.

Our preference: Long positions above 0.869 with targets @ 0.878 & 0.882 in extension.

Alternative scenario: Below 0.869 look for further downside with 0.866 & 0.8645 as targets.

Comment: The ascending 20 and 50-periods moving averages maintain a bullish bias.

Supports and resistances:
0.885
0.882
0.878
0.8765 Last
0.869
0.866
0.8645

AUD/USD Intraday: further advance.

Our preference: Long positions above 0.928 with targets @ 0.938 & 0.9425 in extension.

Alternative scenario: Below 0.928 look for further downside with 0.9245 & 0.92 as targets.

Comment: The pair has broken above its previous top and remains on the upside.

Supports and resistances:
0.946
0.9425
0.938
0.9345 Last
0.928
0.9245
0.92

USD/CAD Intraday: under pressure.

Our preference: Short positions below 1.096 with targets @ 1.0915 & 1.0885 in extension.

Alternative scenario: Above 1.096 look for further upside with 1.099 & 1.101 as targets.

Comment: The RSI is badly directed.

Supports and resistances:
1.101
1.099
1.096
1.0927 Last
1.0915
1.0885
1.087

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